Bending Lake still waiting for city support

News — 19 October 2011

By Ally Dunham

Henry Wetelainen and some of his board presented an update to Dryden City Council on the October 11 Committee of the Whole meeting, and asked council to offer a resolution of support for his project, the Bending Lake Iron Group.

Outlining the project’s achievements since inception, Wetelainen explained the potential income of the mine, the job opportunities it could represent for the Dryden area residents, as well as the economic diversity it would allow our region.

All councillors were in favour of supporting the project with the exception of councillor Mike Wood. Although Wood was supportive of the project as a whole, he was not prepared to sign a support document until Bending Lake had its NI 43-101 certification.

This certification is defined as a mineral resource classification scheme used for the public disclosure of information relating to mineral properties in Canada. The NI (National Instrument) is a strict guideline for how public companies can disclose scientific and technical information about mineral projects on bourses supervised by the Canadian Securities Administrators.

Bending Lake’s newsletter states that the report is being completed by Fladgate Exploration Consulting Corporation of Thunder Bay and is expected in the fall of 2011. The report is expected to provide details on the form, quantity, grade and quality of the ore body that has a reasonable prospect for economic extraction.

A resolution was put on the table to support the project at council’s October 17 Regular Meeting of Council. Before the motion could be voted on, Wood stepped in with a new motion.

“I’m very encouraged by what has been done to date. As I said last week, I’m a little concerned about publicly endorsing it before it has the NI 43-101,” said Wood. “I would like to move that it (the motion to endorse) be tabled that is done. We were told in two weeks, and rather than sending the wrong message to Bending Lake and rather than exposing ourselves to unnecessary risk of litigation, I’d just like to table it until they have their NI 43-101.

The motion to defer was put forward by Wood, seconded by Collins, and voted in favour by all except Mel Fisher.

“The Bending Lake ore body is a world class ore body and it’s about midway in the triangle of Ignace, Atikokan and Dryden. A local entrepreneur has been working with that project for some years and in my own opinion, he’s made amazing progress,” said councillor Mel Fisher.

The resolution is scheduled to see it’s return at the November Committee of the Whole agenda.

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