Marathon Gold signs MOU with Miawpukek First Nation on Valentine project
(Kitco News) - Marathon Gold (TSX: MOZ) and Miawpukek First Nation announced today that they have concluded a memorandum of understanding (the "MOU") relating to the environmental assessment and development of the Valentine gold project located in central Newfoundland. The MOU was signed by Matt Manson, President and CEO of Marathon, and Miawpukek Chief Mi'sel Joe.
According to the statement, the MOU provides for a process of ongoing engagement and consultation between Marathon and Miawpukek. This will include, amongst other things, the completion of a Traditional Knowledge/Traditional Land and Resource Use Study, funding for a community-based Liaison Officer, and the commencement of negotiations towards a Socio-Economic Agreement.
Marathon is a Toronto based gold company advancing its 100%-owned Valentine gold project located in the central region of Newfoundland and Labrador, one of the top mining jurisdictions in the world. An April 2021 Feasibility Study outlined an open pit mining and conventional milling operation over a thirteen-year mine life with a 31.5% after-tax rate of return.
Miawpukek Mi'kamawey Mawi'omi is a First Nation Reserve located at the mouth of the Conne River on the south coast of the island of Newfoundland. Over the years the community has seen a steady growth in Government, Social reforms, Health, Education, Economic Development, Culture and Traditions.