Important Progress
West High Yield (W.H.Y.) Resources Ltd (TSXV: WHY; FRA: W0H) has been successful in securing partnership with the local Osoyoos Indian Band (“OIB”) to build and operate its Record Ridge Mine in Rossland, British Columbia, near the US border. According to the company’s latest press release, the two parties, represented by Skemxist Solutions, a limited partnership of the Osoyoos Indian Band and the Sutherland Group of Companies (“SGC”), have signed a letter of intent. The Letter of Intent covers road construction, mining operations and various support services for the Company’s Record Ridge Industrial Mineral Mine (“RRIMM”) subsidiary.
The RRIMM project is primarily a magnesium mine, but it also contains other critical minerals. 94% of the material is valuable: 1,000 kg of raw ore contains approx. 430 kg of magnesium oxide (MgO), 420 kg of silicon dioxide (SiO2), 90 kg of iron oxide and 2-3 kg of nickel – a total of approx. 940 kg of valuable products with magnesium oxide and SiO2 as the main products. WHY Resources expects to mine up to 200,000 tonnes of magnesium ore per year in a simple open pit mine, with the permit initially only valid for a period of two years. The mined material will only be crushed on site with no chemical processing taking place, resulting in no tailings. The crushed raw ore will then be shipped offsite to US destinations for processing.
OIB CEO Clarence Louie commented: “Governments talk a lot about the importance of critical minerals and reconciliation, but WHY Resources is moving in the right direction. That’s why British Columbia needs to move this forward now – for the good of Canada and for the economic independence of OIB.”
Frank Marasco, President and CEO of WHY Resources added, “We have been committed from the beginning to doing the RRIM project right. This letter of intent and the numerous commitments we have already made to address community input show that we are serious about doing so.”
Chris Sutherland, founder of the Sutherland Group of Companies, stated, “We are pleased to be partnering with West High Yield Resources and the Osoyoos Indian Band on this significant project and we look forward to getting started.”
The MOU builds on a previous co-operation agreement signed between the Company and the OIB and follows the OIB’s own independent review and continued monitoring of the RRIM project, which is located in the traditional territory claimed by the OIB.
The Osoyoos Indian Band Development Corporation plays an important role in job creation as well as financing public facilities. (www.oib.ca).
The Sutherland Group of Companies has been providing a full range of equipment, logistics, personnel and security services since 1995. The are specialized in road construction and maintenance, drilling and blasting, harvesting, crushing and grinding, aggregate sales, marine services, heavy equipment repair and transportation services. Website: www.TheSutherland.Group.
The Record Ridge magnesium deposit is located 10 kilometres southwest of Rossland, British Columbia, and has approximately 10.6 million tonnes of magnesium according to an independently prepared NI-43-101 technical report. WHY Resources is in the final stages of a permitting process through the BC Ministry of Energy, Mines and Low Carbon Innovation (EMLI) through the Mine Development Review Committee (MDRC). The company anticipates to finalize the process in the coming weeks.
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