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#RingOfFire (#RoF) News – August 22, 2015

 

  • “Junior project developer KWG Resources has clinched a deal to acquire five strategic claims straddling Ontario’s nascent Ring of Fire (RoF) mining district. The company planned to issue seller MacDonald Mines Exploration with about $100 000 in scrip to acquire the Hornby property, located in an area dominated by Noront Resources. Noront had earlier this year scooped-up a majority land position in the district when Cliffs Natural Resources agreed to bow out of the prospective region by selling its claims for $20-million. The deal included a 100% interest in Cliffs’ prized Black Thor chromite deposit and a 100% interest in the Black Label chromite deposit. The Hornby claims comprised an extensive holding next to the southerly boundary of the Big Daddy joint venture (70% Noront, 30% KWG) property immediately to the north and would effectively double the surface area available for possible future mining operations at the Big Daddy deposit and the adjoining Black Thor deposit ….”KWG news release
  • “Noront Files NI 43-101 Technical Report for Recently Acquired Black Thor, Black Label and Big Daddy Deposits and Restates 2014 Annual MD&A to Reflect Related Reclassification of Black Thor Estimate From Historical to Current — Noront Resources Ltd. has obtained and filed a National Instrument 43-101 (NI 43-101) compliant Mineral Resource Estimation Technical Report on the Black Thor, Black Label and Big Daddy chromite deposits in the Ring of Fire, which it acquired in April 2015 from Cliffs Natural Resources Inc.  Noront has also filed a related restatement of its 2014 annual MD&A …. Black Thor and Black Label are 100% owned by Noront while Big Daddy is a joint venture between Noront (70%) and Canada Chrome Mining Corporation (30%) ….”
  • Commentary on one Liberal election promise made in Sudbury on the federal campaign trail  “…. The one known is a pledge to invest $200 million “more” annually to support, with private, provincial and research institute collaboration, “clean technologies in the forestry, fisheries, mining, energy and agricultural sectors.”  Now we’re getting closer to a Northern angle. But then the statement wanders off into more about Harper who “does not understand that clean technologies, like those in Sudbury and Sault Ste. Marie (no specifics), create good, middle-class jobs . . .” and so on.  CBC in Sudbury got a bit more from the Liberal leader who said “a lot (of the $200 million) is going to be working with research institutes like Laurentian University, working with the provinces on issues like the Ring of Fire ….” – more  from that Sudbury campaign stop here, and from Trudeau’s info-machine here and here
  • New Chief seems to like RoF  “Ginoogaming First Nation near Longlac, Ontario held their Chief and Council elections on August 19th as First Nation members gathered in the community hall to cheer on their leaders and witness the results.  As the votes were being counted it became evident that Celia Echum would secure a 5th term as Chief with a considerable win defeating rival Kelly Fortier with a vote count of 185 to 107.  Chief Echum says she is “really thankful’’ to the community for their overwhelming support. Her priority as Chief is to work towards progressive community economic development and investing into youth initiatives and capacity building. Her vision is to create a vibrant, self-reliant First Nation by maximizing business opportunities with natural resource development with a focus on Premier Gold and the Ring of Fire ….”
  • Commentary on cheaper, easier power sources & RoF  “It was recently reported that Ontario is looking to buy power from Newfoundland and Labrador. This is the wrong direction. Ontario should be looking westward to Manitoba, which is more accessible …. It makes more sense to develop the unharnessed 3,000 MW now and to share at least half that with Ontario. The entire block of power could be transmitted by direct-current transmission to a converter station near Dryden, Ont. At this location, the power could be converted to conventional alternating current, with 500,000-volt transmission lines connecting eastward to Timmins, Ont., and westward to Winnipeg …. The transmission line route from Dryden to Timmins would provide a convenient power supply for Ontario’s Ring of Fire chromite mining development. Power is always an integral part of any industrial development and this supply would improve the viability of this slow-developing project ….”

 

 

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