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Aboriginal company buys Fortune Minerals’ property – MINING.com
October 8, 2013
Denendeh Exploration & Mining Company (DEMCo) has purchased mining properties in Canada’s North West Territories in the hopes of becoming the country’s first aboriginal-owned company to operate a mine.
DEMCo – owned by 27 First Nations of the North West Territories – picked up Fortune Minerals’ (TSX:FT) Camsell River 78-hectare silver property late last week. The area is an historic silver mining district.
Fortune’s CEO noted in a statement that the lease was too small “to be explored independently and needs to be developed as part of a regional exploration program.”
Darrel Beaulieu, CEO of DEMCo, said the site would “enhance” the firm’s “significant land holdings” in the region.