Winnipeg-based diamond driller Cyr Drillinghas entered into a joint venture with the Webequie First Nation in Ontario’s “Ring of Fire” polymetallic exploration camp.
The new company, named Cyr Drilling Ontario, will perform drilling and early exploration services, drawing from both Cyr’s technical experience and the Webequie’s strategic location, human resources and knowledge of the prospective ground in the Ring of Fire.
The Webequie will own 20% of the company with potential to purchase full ownership in 2013.
Webequie Chief Scott Jacob hopes the partnership will help to increase the Webequie’s presence in the industry.
“We’ve been actively seeking strategic and willing business partners to increase employment and training prospects for our people and to benefit from the growing mining activity in our traditional lands,” said Jacob in a press release.
Unemployment rates among the Webequie First Nation and other area First Nation communities are estimated at 95%.
The Webequie First Nation is located in the James Bay Lowlands.
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