Kitikmeot Corporation
 
 
 
 
 
 

The Izok deposit is host to one of the highest grade copper-zinc deposits in the world.

In April, 2006 Wolfden announced that it had closed an agreement with Inmet Mining Corporation to acquire the Izok, Hood, and Gondor base metal deposits in Nunavut (all within the same relative vicinity). Wolfden also acquired the Lupin Gold Mine from Kinross in March, 2007.

During 2007 Zinifex Ltd. acquired Wolfden Resources.

A Land Use Permit from INAC and a Water Use License from the Nunavut Water Board were then granted for Izok, which allowed construction of a new camp on the site. Environmental baseline studies commenced as part of the permitting process, with the results to be incorporated in an Environmental Impact Statement.

In mid-2008 Oxiana Resources merged with Zinifex to form OZ Minerals, and it was announced that Izok would be their top development priority (as opposed to High Lake, also in the Kitikmeot Region, and covered elsewhere on this website). However OZ Minerals subsequently announced that they were deferring several capital projects and making substantial cuts to operating cost budgets.

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: http://www.minmetals.com

 
 
 

 

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