Joint news release with Ross River Dena Council and private entity Broden Mining.
The Government of Yukon, Government of Canada, Ross River Dena Council and private entity Broden Mining have agreed on the basic terms and framework for the sale of mining claims and leases on the Vangorda plateau portion of the Faro mine site and neighbouring lands to the east of the plateau.
The Ross River Dena Council, through Dena Nezziddi LP and Broden Mining Ltd., have formed the Tse Zul Development Corporation to acquire and assess the development potential of the Vangorda Lands within the traditional Ross River Kaska Dena territory.
The Vangorda Plateau is a brownfield site containing two open pit mines that has already undergone significant environmental disturbance. Future development of the Vangorda Plateau could reduce the cost to Canadian taxpayers for the remediation of this portion of the Faro Property. Any proposed development activities have the potential to bring jobs and economic development to this area of the Yukon and local First Nations communities.
The Tse Zul Development Corporation intends on advancing a feasibility study and further environmental data collection as soon as possible. The project is designed to provide maximum training, employment, ownership opportunities and a sustained revenue stream to the local community through the project life.
We are excited for this new partnership and the opportunity it provides for responsible mining in a brownfield area. This partnership has the potential to bring significant benefits to Ross River and nearby communities.
Minister of Energy, Mines and Resources John Streicker
Historically, mining in this territory has had a negative impact on the people of Ross River Kaska Dena. I am pleased that our new partnership for the Vangorda Lands presents a real opportunity to change the future, and work in partnership to create a new beginning for cultural and socio-economic growth. Our young people and community can have meaningful jobs and opportunities to look forward too.
Ross River Dena Council Chief Jack Caesar
This is the culmination of eight years of building relationships, trust and finding common ground to change the future and create shared value for the community, governments and resource markets. We wish to thank Chief Jack Caesar and the Ross River Dena Council for their leadership and hard work to create this partnership. To all the community members who shared their first-hand experiences and hopes for the future over many years, we are honoured to have earned your trust to become your partner in this project.
CEO of Broden Mining Ltd. Donald McInnes
The Vangorda Lands include the idled brownfield Vangorda and Grum deposits. Additional deposits of silver, lead and zinc mineralization have also been identified from legacy and modern exploration surveys.
Before commencing mining activities after the purchase the joint venture partnership must apply for all the authorizations required to develop a mining operation on the Vangorda Plateau.
The mining operations will be subject to environmental assessment under the Yukon Environmental and Socio-economic Assessment Act (YESAA) and a quartz mining license, water license and other regulatory approvals from the Yukon government.
The purchasers will be required to provide the required financial security for the activities authorized to be undertaken in quartz mining license and water license.
For a background and further information on the company and geological information, visit brodenmining.ca
Communications, Energy, Mines and Resources
CEO Dena Nezziddi/Ross River Dena Council,