Serengeti Resources (TSXV:SIR) has announced that Kwanika Copper Corporation (KCC), a private company jointly-owned by Serengeti Resources (65 percent) and POSCO DAEWOO Corporation (35 percent), has entered into an exploration agreement with the Takla Lake First Nation in British Columbia.
According to the press release, the agreement establishes a mutually beneficial, cooperative and productive relationship whereby communication and collaboration between the Takla and KCC are held paramount, providing the parties certainty in their relationship throughout the advancement of the Kwanika project.
A field program designed to include the key pre-feasibility Study data acquisition elements, including 8000 meters of drilling focused on the central copper-gold zone, is scheduled to begin approximately June 15. The PFS is being funded 100 percent by partner POSCO DAEWOO and is scheduled for completion in Q2, 2019.
As quoted in the press release, president and chief executive officer of Serengeti, D.W. Moore said:
“We look forward to working closely with the Takla as we advance the Kwanika Project and will continue to build trust and respect with the First Nation through communication and continued involvement. Agreements such as this reduce uncertainty for both the Company and the First Nation community and represent a valuable step in the progression of any project.”
Click here to view the full Serengeti Resources (TSXV:SIR) press release.
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