Business
Melkior Provides White Lake Update
(TheNewswire) Timmins, Ontario – TheNewswire - Decembe...
About this update from Melkior Resources Inc.
[{"type":"text","content":"Melkior Provides White Lake Update\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Timmins, Ontario –\n \n \n TheNewswire - December 6, 2021 -\n \n Melkior Resources Inc. (“\n \n Melkior\n \n ” or the “\n \n Company\n \n ”) (TSXV:MKR) (OTC:MKRIF) announces that Barrick\nGold Inc. (“Barrick”) has provided a termination notice with\nrespect to the Earn-In and Joint Venture Shareholders Agreement made\nas of November 20, 2020, between Melkior and Barrick (the\n“Agreement”), which Agreement was originally announced by Melkior\non November 20, 2020. Barrick advised Melkior that it is terminating\nthe Agreement in accordance with its terms as of the first anniversary\nof the Agreement without satisfying the minimum exploration\nexpenditures due to Barrick being prevented or hindered from the\nfunding of expenditures because of the objections and concerns raised\nby a local First Nation.\n \n \n On December 16, 2020, the Ministry of Energy, Northern Development and\nMines (the “Ministry”) issued a Notice of Withdrawal and a Notice\nof Caution affecting the Northern Lake Superior Region and the White\nLake Property. Due to the Ministry’s Notice of Withdrawal and Notice\nof Caution and the First Nation’s concerns regarding exploration\nactivities, Melkior intends to apply to the Ministry for an order\nsuspending the annual work requirements on the White Lake Property due\nto the Company’s inability to conduct exploration work without First\nNation objections. If the Ministry accepts the Company’s request the\nProperty will remain in good standing until the Company can resume\nexploration expenditures. The Company anticipates receiving the\nMinistry’s approval, but if such approval is not granted the Company\nmay apply current exploration credit reserves and/or make payments in\nlieu of exploration expenditures to keep the Property in good\nstanding.\n \n \n Melkior intends to work with the MNDMNRF and the First Nation on\npossible paths toward mutually acceptable exploration work on and\ndevelopment of the White Lake Property.\n \n \n \n About Melkior Resources\n \n \n \n Melkior Resources is an exploration stage resource company with a\nstrong partner in world-class mining jurisdictions. Melkior ...