Ring of Fire Updates Weekly News Roundup

March 31 – April 6, 2020: News Roundup

This week many Indigenous communities, including Neskantaga and Muskrat Dam First Nations have locked down their communities because of the COVID-19 pandemic. At the same time, the mining company New Gold has agreed to purchase five million shares in Northern Superior Resources, giving New Gold a strategic foothold in the company. This investment is helpful for Northern Superior Resources in order to fund the exploration of their Ti-pa-haa-kaa-ning (TPK) property near the Ring of Fire where gold, silver, and copper have been found. Currently the company hopes to begin exploration in Summer 2020 though that may be delayed because of the COVID-19 pandemic.

April 6, 2020 (Mining Journal)

New Gold buys 9.99% Northern Superior stake

Canadian explorer Northern Superior Resources has raised C$3.9 million via a private financing and has secured a strategic partner in New Gold which is picking up a 9.99% stake in the company.

“”We intend to initiate a core drill programme on the TPK property this summer, or as soon as we and our stakeholders on this project determine that the current COVID-19 pandemic has abated sufficiently to allow for the safe execution of the programme,” he said.” Read more here…

March 31, 2020 (CKDR 92.7 Dryden)

Muskrat Dam, Neskantaga Locking Down

“Muskrat Dam and Neskantaga First Nations are locking down their communities because of the COVID-19 pandemic.” Read more here…

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