- MetalQuest Mining (TSXV:MQM) has signed an exploration and pre-development agreement with the Naskapi Nation of Kawawachikamach in Quebec
- The agreement is to promote a mutually respectful agreement with First Nations related to the company’s exploration programs on the Lake Otelnuk Iron Ore Project
- The Naskapi Nation holds rights to and over certain territories within the project
- Shares of Metal Quest Mining are unchanged at C$0.055
MetalQuest Mining (TSXV: MQM) has locked in an exploration and pre-development agreement with the Naskapi Nation of Kawawachikamach in Quebec.
In a news release, the Rockport, Ontario-based mining company stated the purpose of the agreement is to promote a mutually respectful agreement with First Nations.
The Naskapi Nation also holds rights and treaty rights over certain territories within the project and has the option to exercise those rights.
“MetalQuest Mining is very pleased to sign this exploration and pre-development agreement and to be an active participant with the Naskapi Nation. MQM acknowledges that the Lac Otelnuk Iron Ore Project is subject to aboriginal and treaty rights which are protected under Section 35 of the Constitution Act, Canada,” Harry Barr, CEO of MetalQuest Mining, said in a statement. “By signing this agreement, the company believes that there is a structured method to work constructively with the Naskapi Nation in regards to the exploration and development of any of the company’s claims that are located on traditional territories.”
Located in Nunakik, Quebec, roughly 170 kilometres north of Schefferville and 250 kilometres south of Kuujjuaq, the Lac Otelnuk Iron Ore Project is a multi-billion tonne resource with a feasibility study completed most recently in 2015.
The company owns 306 claims in this block, including the concentration of 75 claims in the middle that will cover the main resource.
“We have recently adopted our Naskapi Mining Policy to clarify the Nation’s vision, values and expectations and to provide clarity and certainty to the mining industry. This agreement is fully aligned with our policy and will establish a respectful and mutually beneficial relationship where the Naskapi Nation, without consenting to any future mine, will collaborate with MQM to develop a project that aligns with the Naskapi Nation’s values, its vision of protection and development, and its economic interests. This agreement is also reflective of the new relationship that must be established between First Nations, the Inuit and the mining industry,” Naskapi Chief Theresa Chemaganish said in a statement.
MetalQuest Mining owns 100 per cent interest of Otelnuk and looks to develop one of the largest Iron ore projects in North America.
Shares of Metal Quest Mining are unchanged at C$0.055.
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