Sona Forms JV with First Nation

14 October 2010 (Last Updated October 14th, 2010 18:30)

Sona Resources has signed an agreement to form a joint-venture with the Stswecem'c Xgat'tem Development Limited Partnership (SXDLP) for mine development in British Columbia, Canada. SXDLP is an economic development cooperation for the Canoe Creek Indian Band in British Columbia. T

Sona Resources has signed an agreement to form a joint-venture with the Stswecem'c Xgat'tem Development Limited Partnership (SXDLP) for mine development in British Columbia, Canada.

SXDLP is an economic development cooperation for the Canoe Creek Indian Band in British Columbia.

The company and SXDLP will jointly undertake the development of Sona's Blackdome gold mine and Elizabeth gold property located in the Clinton and Lillooet mining districts of southern British Columbia.

SXDLP has a four-year option to acquire 10% in No 75 Corporate Ventures, which holds all the mineral claims, mining leases, ore processing plant and equipment for the projects.

Sona and SXDLP will collaborate as business partners in all areas of operations, including finance, permitting and development, employment, contracting, and cultural and environmental matters.

Canoe Creek Indian Band chief Hank Adam said the band views this agreement with Sona as an avenue to creating employment and other business opportunities for its people.