AuTECO Minerals Ltd (ASX: AUT) and the Mishkeegogamang Ojibway First Nation (MOFN) have signed an Exploration Agreement between the parties for the Pickle Crow project in Ontario, Canada.
The Agreement provides AuTECO with continued MOFN support for access to tenure for exploration purposes, while providing confidence to the MOFN regarding commercial, social benefit and cultural matters. Both parties have a strong commitment to create mutual benefits while continuing to respect the traditional territories, activities, values and rights of the MOFN.
The revised Agreement replaces the 2009 exploration Memorandum of Understanding (MOU) and now incorporates all AuTECO tenure that is located within MOFN traditional territories. The previous MOU covered an area adjacent to the historic Pickle Crow mine and all work completed by AuTECO to date has been restricted to the region defined under the terms of the 2009 agreement.
The company has significantly expanded the project area to ~500 sq. km since assuming management control in March 2020 and this updated Agreement ensures all tenure, including key regional exploration targets for the upcoming winter drill campaign, are included.
Completion of the Agreement ensures support of exploration and advanced exploration activities at the Pickle Crow Project and outlines a path forward for an Impact Benefit Agreement should the Company decide to pursue commercial development of the mine.
Additionally, in a sign of partnership, AuTECO welcomes the MOFN as shareholders via the issuance of five million ordinary shares to the community fund.
“We are delighted to sign this exploration agreement with the Mishkeegogamang Ojibway First Nation,” AuTECO CEO, Darren Cooke, said.
“I would like to pay tribute to Chief David Masakeyash and the Council for the spirit in which the discussions have taken place.
“We will continue to respect the land, tradition and culture of the First Nations peoples whilst doing our best to share the economic and social benefits of our investment in the Pickle Lake area.
“This is just the beginning of the partnership. With the Mishkeegogamang becoming shareholders of AuTECO, the community will benefit from our ongoing success at Pickle Crow.”
Chief David Masakeyash of the Mishkeegogamang Ojibway First Nation said they are pleased to have reached agreement with AuTECO regarding its operations in its territory.
“In this agreement, we have developed a strong framework for the protection of our land, and certainty our members will fairly benefit from the work undertaken. Each of these qualities are fundamental to building a relationship with our nation,” he said.
For further information please visit: https://www.autecominerals.com/
