Fortune Minerals, Tlicho sign deal for NICO access road

The NICO deposit is located 160 km northwest of Yellowknife in Canada’s Northwest Territories. (Image courtesy of Fortune Minerals)

Fortune Minerals of London, Ontario, and the Tlicho government have signed an agreement supporting the NICO cobalt-gold-bismuth-copper project 160 km northwest of Yellowknife in Canada’s Northwest Territories.

The agreement details the conditions under which the mining company can build and operate a 51-km access road to the project. The road is to be built on Tlicho traditional territory from the community of Whati. It also specifies the conditions for a road reclamation bond that will be held by Tlicho interests.

Fortune says that with this agreement in hand, it can now secure a water licence and land use permit needed to build the road. The company further says that construction of the Tlicho all-season road connecting Whati with Highway 3 is progressing well. Fortune plans to truck concentrates from the mine to the rail head at Hay River and eventual downstream processing.

Financing has yet to be arranged for the NICO project and a refinery.

(This article first appeared in the Canadian Mining Journal)

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