The Izok Corridor Project includes the Izok and High Lake deposits located in Nunavut in the Canadian arctic within a geological formation known as the Slave Geological Province.
The Izok Corridor Project includes the Izok and High Lake deposits located in Nunavut in the Canadian arctic within a geological formation known as the Slave Geological Province. Izok is a zinc/copper deposit with a Mineral Resource of 15 million tonnes at 13% zinc and 2.3% copper. The High Lake deposit, located north of Izok, has a Mineral Resource of 14 million tonnes at 3.8% zinc and 2.5% copper.
The Izok Corridor Project offers the potential for significant socio-economic contributions to the Nunavut, Northwest Territories and Canadian economies.
Project development requires construction of a 325-kilometre all-weather road, as well as a deep-water port on the Arctic Ocean to facilitate transportation of metal concentrates to overseas markets. MMG also holds several other base metal deposits and exploration tenements in this highly prospective region.
In August 2019, MMG welcomed the commitment from the Canadian National Trade Corridors Fund to commit CAD $21.5 million to the design, permitting and development of the Grays Bay Road and Port (GBRP) Project.
The funding from the Canadian Government’s National Trade Corridors Fund will be used to advance the design, permitting and feasibility of the project to ‘shovel-ready’ stage. The road and port represent critical infrastructure to open up access to the Greenstone belts of the Slave Geological Province, which host MMG’s Izok and High Lake deposits. The funding adds to the $7.25 million already committed by Inuit Representative Group, Nunavut Tunngavik Inc (NTI).