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The High Lake property is located in the Kitikmeot Region, approximately 550 km northnortheast
of Yellowknife (NWT), with Kugluktuk (Nunavut) being the closest population
centre. It is about 45 kilometers south of the Coronation Gulf. Commodities include
copper, zinc, gold, and silver. In general, the deposit is considered to be amongst the
highest grade undeveloped copper deposits in the world.
Wolfden Resources submitted its project proposal to the Nunavut Impact Review Board
(NIRB) in November, 2006. Early in 2007, Wolfden also received its land use permits
from the Kitikmeot Inuit Association (KIA) for this project, which provides access to and
use of Inuit Owned Land in the Kitikmeot Region.
The project received Part 5 review status in June, 2007. More specifically, the Minister
of Indian Affairs and Northern Development Canada referred the project to NIRB for a
review under Part 5 of the Nunavut Land Claims Agreement.
During 2007 Zinifex Ltd. acquired Wolfden Resources, and in mid-2008 Oxiana
Resources merged with Zinifex to form OZ Minerals.
Although High Lake is the most advanced, in terms of regulatory processes, of their
other Kitikmeot-based projects, another of which is Izok (covered elsewhere on this
website) OZ Minerals announced that Izok would be their top development priority.
However, shortly thereafter, OZ Minerals announced that they were deferring several
capital projects and making substantial cuts to operating cost budgets. As such, the
feasibility study into the High Lake project was deferred.
On June 11th, 2009, China Minmetals Corporation completed the acquisition of OZ
Minerals (assets acquisition). A new Australian company called Minerals and Metals
Group Ltd. (MMG) will be set up to manage these assets. Further information on plans
for project development is not available at this time.
Contact:
China Minmetals Corporation
Email: support@minmetals.com.cn
Website: www.minmetals.com
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