The Manitoba Mineral Development Fund (MMDF) will provide a $300 000 grant to TSX-V-listed BWR Exploration to advance the Little Stull Lake gold project, in north-eastern Manitoba.
Prior to entering into a contribution agreement with the MMDF, BWR will need to provide confirmation of required permits and licensing from the province of Manitoba for the proposed project and must also provide confirmation of additional funding for the project.
BWR will in the coming weeks also be entering into discussions with the Manitoba Chambers of Commerce regarding the contribution agreement. It is anticipated that the contribution agreement will provide for three instalments of $100 000 each over the course of the proposed 2021/22 exploration programmes.
The Little Stull Lake gold project comprises 20 mineral claims (2 837 ha) surrounded by two extensive (36 006 ha) mineral exploration licences, collectively covering 38 843 ha.
The 20 mineral claims effectively cover the historically identified West Zone gold occurrence, as well as 6.4 km of strike length of the Wolf Bay Shear Zone, which hosts an additional five other historically identified gold occurrences.
The MMDF was launched by the Manitoba government in August 2020 with the specific goal of jump-starting mineral and economic development initiatives throughout the province with a focus on creating partnerships between First Nation communities and numerous Mining/Exploration companies looking to explore and develop projects in Manitoba with Indigenous community involvement.
The MMDF aims to support new economic development opportunities that capitalise on Manitoba’s mineral endowment and infrastructure including the network of winter roads and trails, as well as power corridors that service Northern Manitoba.