Hemlo Explorers (TSXV: HMLO) continues apace with the development of its Hemlo Camp projects. The firm this morning revealed developments for both its Pic Project as well as Project Idaho.
Specifically, the company has reached an agreement with Biigtigong Nishnaabeg, the First Nations band in the region. The agreement covers both the Pic and Idaho projects, and enables the firm to continue forward with exploration plans.
Under the terms of the agreement, Hemlo recognizes that the mining claims are in the aboriginal title area of Biigtigong, while the First Nation recognizes the firms right to explore its mining claims “with certainty and stability.” Furthermore, the company will engage Biigtigong’s members and companies where possible, while also transferring the claims known as Hemlo West to a company controlled by the band.
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“Hemlo Explorers is very excited to have executed this Agreement as it gives us certainty with respect to moving forward with Project Idaho over the long term. We have completed a significant amount of work over the summer exploration season and are confident that the project has the potential to become an interesting exploration opportunity with mineralization related to that of the Coldwell Complex.”
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The company also indicated that it has received an exploration permit from the Ministry of Mines, Natural Resources and Forestry for Project Idaho.
Hemlo Explorers last traded at $0.08 on the TSX Venture.
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