Grays Bay, Slave Corridor Projects get Boost
Kugluktuk, NU – Just prior to the recent federal election, a pair of projects designed to open the same, mineral-rich part of the North received funding from Ottawa to get them to “shovel-ready” status.The feds committed $21.5 million to the Kitikmeot Inuit Association’s slimmed-down request to get the Grays Bay Road and Port project ready for construction. Nunavut Tunngavik Inc. had already announced $7.25 million for the initiative.
“We are very happy with the outcome,” said Scott Northey, CEO of Nunavut Resources Corp. “We feel good about where we are.” Ottawa also agreed to jointly spend $40 million to get the Slave Geological Province Corridor (SGPC) through the required environmental regulatory reviews and planning studies. Transport Canada will contribute $30 million and another $10 million is coming from the GNWT.
The SGPC includes a two-lane gravel, hydro-electric and communications infrastructure corridor that is 413 km in length and is estimated to cost $1.1 billion.
The Slave Province has significant untapped mineral potential including several defined large base metal deposits and hundreds of base metal and gold showings (372 along current proposed route alone). Historic production from mines operating in this area is collectively worth approximately $45 billion.
