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Thursday, 25th January 2007 (2111 views)

Locals in Ontario, Canada have signed an important pact with the gold producer Apollo Gold Corporation over its Black Fox project near Matheson.

The Memorandum of Understanding (MOU) establishes the foundation for what is described as a "positive and mutually beneficial relationship" between the Wahgoshig First Nation community and Apollo.

It sets out a range of provisions that will apply while the Black Fox project is in the advanced exploration stage. These provisions include ongoing communication, training and financial contributions to the community.

David Russell, president and chief executive of Apollo, said the company sees the agreement with the Wahgoshig as the start of a "positive and continuing relationship".

"During the course of our negotiations, we have become aware of the importance and the benefits of working cooperatively with the Wahgoshig First Nation," he said.

The Wahgoshig has praised Apollo for the "respect and cooperation" it has shown in accommodating the community's interests in its plans for the gold project.

At present the Black Fox project is in the permitting and feasibility stage, which is expected to be finished this year. Construction and initial production at the site is forecast for 2008.

 

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