KWG Resources and Bold Ventures report that exploratory drilling on their joint venture Black Horse/Koper Lake chromte property in Ontario’s far northern Ring of Fire has been put on hold pending receipt of exploration permits from the provincial government.
The permits became mandatory April 1 with the full implementation of new regulations under Ontario’s modernized Mining Act.
As project operator, Bold had mobilized three drills to the area in early March under a three-way deal that saw Bold option the Koper Lake claims from Fancamp Exploration, then enter a funding arrangement with KWG, which holds a 30-per-cent interest in the nearby Big Daddy chromite deposit and could earn up to 80 per cent of Black Horse by financing the exploration program.
Under the new Mining Act regulations, the partners must satisfy Ontario’s director of exploration in the Northern Development and Mines Ministry that they have undertaken appropriate consultation with affected Aboriginal communities. The director’s intention to issue the permit must be posted on the Environmental Registry for a 30-day comment period which, in the case of the Black Horse/Koper Lake project, will end on April 13.
While they wait for their permits, the operators are logging and sampling drilled core, and working to acquire further geophysical data. Bold reports that it has also accomplished its pre-break-up goal of installing it project camp, which is located at the Muketei air strip about approximately five kilometres from the project area.
In a release last month, Bold said a camp to service the $3-million exploration program was operating under a Marten Falls First Nation Land Use Permit.
“It is a very positive development to be working closely with the local First Nation community of Marten Falls,” said Bold CEO Richard Nemis in the March 5 release. “I would like to thank and commend Marten Falls for our mutual business relationship. This forward-looking vision further cements our relationship and creates a number of opportunities for both Marten Falls First Nation and Bold Ventures.”