Northern Ontario Business reported that the Constance Lake First Nation has signed an agreement with Xmet Inc. (TSXV:XME) that will allow graphite exploration to take place on its traditional territory. The company will now be able to develop its Blackflake project.
Constance Lake has a similar agreement with Caribou King Resources Ltd. (TSXV:CKR).
As quoted in the market news:
The agreement outlines the working relationship between Xmet and Constance Lake with respect to exploration activities within the community’s traditional territory and will remain in effect until the two parties enter into an impact benefits agreement. The agreement includes terms outlining the parties’ mutual respect for the land and a responsible and sustainable approach to exploring the land.
Constance Lake has signed a similar agreement with Caribou King Resources Ltd., which makes way for exploration at its Mulloy graphite project, located 10 km west of Zenyatta Ventures’ Albany graphite project.
Alexander Stewart, chair and CEO of Xmet, commented:
We were very pleased with the EA (exploration agreement) and are appreciative of the support of Constance Lake’s Chief Sackenay and the CLFN council. Management and I look forward to continuing to work with the CLFN community as the Blackflake project progresses.