Grant for Underground Drilling at True North Project
1911 Gold Corporation (TSXV: AUMB) is thrilled to share that the Manitoba Mineral Development Fund (MMDF) has provided a generous grant of $300,000. This funding will significantly bolster the ongoing underground drilling efforts at the True North Gold Project, which is pivotal to the Company's exploration endeavors within its Rice Lake Gold property.
CEO's Appreciation for MMDF Support
Expressing his gratitude, Shaun Heinrichs, CEO and President of 1911 Gold, said, "We extend our sincere gratitude to the MMDF for their continued support of the True North Gold Project, and our near-term vision to restart mining operations in the future. This funding is not just a financial boost; it represents a partnership committed to responsible resource development.
Community Impact and Development Goals
Heinrichs added that the collaboration would spur meaningful employment opportunities in nearby communities, emphasizing partnerships with Indigenous groups. This initiative aims to foster sustainable economic growth.
MMDF's Role in Investment Attraction
In addition, Edward Suzuki, Program Manager at MMDF, highlighted the fund's purpose, stating, "By providing this funding support, we aim to attract more investment into Manitoba. The socio-economic impacts from the True North redevelopment project will validate the value of MMDF and propel the program forward in the coming years.”
Details of the Underground Drilling Program
The funds from the MMDF will be allocated towards a comprehensive underground delineation drill program, which includes approximately 9,000 meters over 80 drill holes. This initiative focuses on upgrading the current resources in crucial areas designated for test mining, slated for 2026. The upcoming test mining is critical for validating the proposed mining methods and ensuring the project's economic viability.
Government Support for Mineral Exploration
Recently, it was announced that the Manitoba government is earmarking $1.2 million for six mineral exploration projects. This funding aims to enhance job creation and encourage investment in the region.
Mission of the Manitoba Mineral Development Fund
The MMDF, managed by the Manitoba Chambers of Commerce, facilitates funding opportunities for various entities, including Indigenous groups and municipalities. The support aims to unlock new mining opportunities and engage First Nations in collaborative resource development.
Overview of 1911 Gold Corporation
1911 Gold is recognized as a junior developer with a strategic land portfolio exceeding 61,647 hectares situated in the Archean Rice Lake greenstone belt. The Company not only owns the True North mine and mill complex, but it is also focused on enhancing its exploration portfolio and pursuing opportunities across North America.
Commitment to Local Communities
1911 Gold's operations emphasize open dialogue and relationships with local First Nations, ensuring that the community benefits from mining activities. The Company looks forward to advancing its projects responsibly while maintaining strong connections within the community.
Conclusion: A Bright Future Ahead
With the funding from MMDF and their ongoing exploration efforts, 1911 Gold is positioned to make significant progress towards revitalizing operations at the True North Gold Project. The collaboration with community stakeholders underscores the Company’s commitment to responsible and sustainable mining practices.
Frequently Asked Questions
What is the purpose of the $300,000 grant?
The grant is designed to support the underground drill program at the True North Gold Project, enhancing resource delineation and development.
Who announced the financial support?
The Manitoba Mineral Development Fund (MMDF) has confirmed the grant through its ongoing commitment to resource development in the region.
What are the expected outcomes of the drilling program?
The drilling is intended to upgrade current resources and validate the economic feasibility of future mining operations.
How does 1911 Gold plan to engage with the local community?
1911 Gold is committed to fostering relationships with local communities, ensuring that mining activities create opportunities and provide economic benefits.
What is the significance of the MMDF?
The MMDF plays a crucial role in attracting investment and supporting mining projects that promote Indigenous partnerships and job creation in the province.
