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Ring of Fire News – 5 Sept 11

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  • Four NW Ontario First Nations sign a Ring of Fire collaboration deal, endorse rail link to ROF area.  “…. The East-West Corridor Collaborative Agreement was signed between the communities of Webequie, Neskantaga, Eabametoong and Nibinamik. Since March 2010, the First Nations have been working towards a community-driven strategy to develop a preferred corridor through their traditional territories. The goal is to establish a First Nation joint venture that will operate an infrastructure, transportation and service corridor for northern First Nations and other activities in the Ring of Fire. The First Nation Chiefs were supported by their Councils during today’s signing ceremony in Thunder Bay …. One of the major objectives outlined in the East-West Corridor Collaborative Agreement is to ensure that community members from the four First Nations realize the maximum possible benefits from the corridor development ….”  (Sources:  First Nations news release, tbnewswatch.com, Canadian Press, 31 Aug 11; Chronicle-Journal, 1 Sept 11)
  • Webequie First Nation hires “Ring of Fire Senior Director”.   “Webequie First Nation introduced Michael Fox, President of Fox High Impact Consulting, as Webequie’s Ring of Fire Senior Director. Fox will be working to ensure a community-driven approach and community-based opportunities related to the development of the Ring of Fire are recognized and realized by companies and governments …. (Chief Cornelius Wabasse says) ” Michael recognizes that agreements with companies and governments are premised on the community’s Aboriginal and Treaty rights and that any Impact and Benefits Agreement has to be ratified by the community members” …. (Ring of Fire) project submissions trigger a legal process and will now formalize Webequie First Nation’s engagement with both companies and governments. “We will be assembling our negotiating team and executing our community-based strategy with both companies in the very near future,” says Michael Fox. “We will also be engaging with Marten Falls First Nation at a Council-to-Council level for the Mine Sites developments. And we definitely look forward to continued discussions with regional First Nations on infrastructure corridor initiatives.” ….”  (Sources:  First Nation news release, tbnewswatch.com, 29 Aug 11; Chronicle-Journal, 30 Aug 11)
  • Sudbury:  Talking to cabinet ministers + provincial party leaders at municipal conference = clinching its spot as a Ring of Fire hub?  “Sudbury council members said recent talks with provincial ministers have resulted in a renewed commitment to keep Ring of Fire infrastructure in the North. “We heard directly from all three parties that they are committed to keeping the Ring of Fire refinery jobs in Northern Ontario,” Councillor Dave Kilgour reported in a news release. “This is welcoming news as these jobs are imperative for the growth of our community.” Municipal representatives from across Ontario are in London this week for the annual Association of Municipalities of Ontario (AMO) conference. Kilgour is joined by Mayor Marianne Matichuk and Councillors Fabio Belli and Andre Rivest. While there, the Sudbury delegation met with Infrastructure Minister Bob Chiarelli, Northern Development Minister Michael Gravelle, Conservative Party Deputy Minister Christine Elliot and NDP Leader Andrea Horwath ….”  (Source:  Northern Ontario Business, 26 Jul 11)
  • “…. KWG’s railway infrastructure project has been well timed and the need for a railway in the Ring of Fire seems highly economic. Meetings with government and First Nations officials are ongoing to determine a mutually beneficial result. As well, KWG continues to explore the available funding mechanisms that can be employed to continue development of the railroad link to the Ring of Fire …..”  (Source:  KWG Management and Discussion Analysis document (PDF) as of 30 Jun 11 via SEDAR)
  • KWG Resources Inc. has completed the acquisition of 7 million treasury units of its subsidiary Debut Diamonds Inc. valued at $0.30 each in exchange for subscription receipts for 21 million KWG treasury units valued at $0.10 each. The Debut units each comprised one new treasury share and one share purchase warrant; each Debut warrant may be exercised to acquire an additional Debut treasury share upon payment of $0.40 at any time within 5 years. The KWG subscription receipts are exchangeable for KWG treasury units which will each comprise one new treasury share and one share purchase warrant; each KWG warrant may be exercised to acquire an additional KWG treasury share upon payment of $0.15 at any time within 5 years. “This exchange will provide KWG with additional shares of Debut for distribution to the KWG shareholders while providing Debut with sufficient working capital to qualify for listing”, said KWG President Frank Smeenk. “At the same time it permitted Debut to close the acquisition of an option to earn an interest in the Nakina targets, comprising 33 interpreted geophysical targets in 28 claim blocks north of Nakina. These include some of the best magnetic targets seen in Ontario since the Attawapiskat cluster, and resulted from analysis of the Ontario Geological Survey data made public in late 2010.” ….”  (Sources:  KWG news release, Debut Diamonds news release, 29 Aug 11)
  • MacDonald Mines Limited is pleased to announce that the Company has completed nine holes, totaling 2,553 metres, of an ongoing drilling program on its Ring of Fire, Semple-Hulbert project near Kasabonika, Ontario. Following initial assay and geophysical results the spring/summer program was completed in August. The company is currently reviewing all data as it awaits final assays, which will allow for both additional geological and geophysical interpretation …. Results of the program will be released as soon as they have been received and reviewed. Camp Relocation: The company will also relocate its exploration camp to newly discovered favourable geology. This will also provide important cost saving in the forth-coming drilling exploration ….”  (Source:  Company news release, 26 Aug 11)
  • UC Resources Ltd. is pleased to provide an update of the drilling of a recently discovered anomaly in the McFaulds lake area of the “Ring of Fire” in Northern, Ontario. The company completed its 1200 metre, 2-hole core drilling program at McFaulds Lake property and submitted 126 cut core samples for assay. A description of the core encountered during the program has been provided below by M.J. (Moe) Lavigne, P. Geo, who was acting as QP for this drill program and a qualified person pursuant to National Instrument 43-101 has reviewed and approved the technical information in this press release on behalf of the company …. Based on a visual estimate, the copper content of the mineralization encountered will not exceed 0.5%, but are good candidates for PGE enrichment. The magnetite rich rocks encountered are also good candidate for PGE enrichment, and may also have elevated vanadium and titanium …. Assaying will be conducted by Activation Laboratories Ltd of Ancaster, Ontario and results will be press released upon arrival ….” (Source: Company news release, 29 Aug 11)

Summary of more open source information and sources cited (1-31 Aug 11) also available here (PDF).  All information shared here in accordance with the Fair Dealing provisions (§29) of the Copyright Act.  We’re not responsible for accuracy of original material, and inclusion of material doesn’t mean endorsement.

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