A junior miner searching for battery-grade metals in the Timmins area has signed a memorandum of understanding (MOU) with a nearby First Nation community.
Pancontinental Resources (Pancon) inked the cooperation agreement with Flying Post First Nation, northwest of Timmins, which came into effect Oct.1.
The Toronto-based exploration outfit has three early stage nickel-cobalt-copper projects in the area.
The MOU indicates that the company respects Aboriginal and treaty rights when engaged in exploration activities, and lays out a framework for future engagement.
It sets down a consultation and accommodation process with the First Nation, that, as the projects advance, can evolve into negotiations for an impact benefit agreement (IBM) should any of the three projects reach the feasibility stage.
The IBM identifies business and job opportunities for community members to participate in the company’s activities and operations.
In an Oct. 11 company news release, Flying Post Chief Murray Ray said he was pleased with the signing.
“The agreement outlines a process for mutual engagement throughout the exploration phase. Flying Post believes that exploration activities should be done in a manner that is respectful of traditional and treaty rights and the environment, and provide employment and business opportunities. The signing of this MOU is a promising first step in establishing a meaningful relationship with Pancon.”
Pancon president-CEO Layton Croft was looking forward to a “productive, long-term relationship” with the community in advancing their properties.
“This MOU is a tangible example of Pancon’s community relations policy, which affirms our company’s belief that minerals exploration and mining – in addition to creating value for shareholders – can and should be a positive catalyst for environmental stewardship, economic development, and social responsibility. We conduct our business activities in pursuit of these outcomes, and to create shared value with First Nations, host communities and other stakeholder groups.”
The company is a newcomer to the Timmins camp, having acquired the three properties – Montcalm, Gambler and Nova – earlier this year.
Montcalm and Gambler are 65 kilometres northwest of the city. Nova is 25 kilometres southwest of Montcalm.
Montcalm and Gambler are adjacent to Glencore’s former Montcalm Mine, which produced 3.9 million tonnes of nickel, copper and cobalt prior to its 2011 closure.
Airborne geophysics, soil sampling, prospecting and drilling were conducted at the properties over the spring and summer.
