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Fortune Minerals reports federal government funding for Tlicho All-Season Road to the community of Whati
Fortune Minerals reports federal government funding for Tlicho All-Season Road to the comm...
About this update from Fortune Minerals Limited
[{"type":"text","content":"\n\n\n\nFortune Minerals reports federal government funding for Tlicho All-Season Road to the community of Whati\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nLONDON, ON, Jan. 12, 2017\n\n\n\nPublic road will enable NICO Mine operations as Fortune seeks financing for construction\n\nIssued Capital:  270,899,007  \n\n\n\nLONDON, ON, Jan. 12, 2017 /CNW/ - Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) (\"Fortune\" or the \"Company\") (www.fortuneminerals.com) is pleased to report that the Government of Canada, the Government of the Northwest Territories (\"GNWT\") and the Tlicho Government have jointly announced federal funding for the construction of the Tlicho All-Season Road (\"TASR\") to the community of Whati (See January 11, 2017 news release link). The federal government will provide up to 25 per cent of the construction costs for this road through the P3 Canada Fund. Procurement of the TASR - through a GNWT Public-Private-Partnership, will start with the release of the Request for Qualifications in February 2017, and will be followed by a Request for Proposal and bids from private industry to provide combined finance and construction. \n\nLike our news? Click-to-Tweet.\n\nWhati is located 50 km south of Fortune's proposed NICO Cobalt-Gold-Bismuth-Copper Mine, which has already received its environmental assessment approval and the major mine permits for construction, including a 50 km spur road to Whati. The TASR is a critical enabler for mine operations and will allow the Company to truck metal concentrates south to the rail head at Hay River for railway delivery to its proposed refinery in Saskatchewan for downstream processing to value added products. With development of the NICO Project, Fortune would become an important supplier of cobalt chemicals needed to manufacture lithium-ion batteries used in portable electronic devices, electric vehicles and stationary storage cells. The NICO mineral reserves also contain more than 1.11 million ounces of gold and 12% of global bismuth reserves...