Keweenaw Land Association, Limited Leases Mineral Rights to Orvana
Keweenaw Land Association, Limited (Keweenaw) (Pink Sheets: KEWL) is pleased to announce it has entered a mining lease with Orvana Resources US Corp. (Orvana), a wholly owned subsidiary of Orvana Minerals Corp. (TSX symbol: ORV) of Toronto, Ontario. Keweenaw has leased to Orvana certain mineral rights in an area known as the “Western Syncline,” located 20 miles northeast of Ironwood in northern Gogebic County in the Upper Peninsula of the State of Michigan.
Orvana is referring to the leased area as the Copperwood Project. The project lies 19 miles southwest of the now-closed White Pine Mine, which produced over 1.7 million tons of copper between 1952 and 1996. Under the lease, in consideration of certain lease and/or royalty payments, Orvana will have access to mineral rights on 771 acres for a period of time that is the later of twenty (20) years or until Orvana ceases to be actively engaged in development, mining, or related operations on the property. Orvana has indicated that it will initially invest in environmental studies relating to water and other resources to prepare for the permitting process. In addition, Keweenaw has extended an exclusive option to Orvana to lease mineral rights on 2,382 acres in the general area of the current mining lease.
Keweenaw Land Association, Limited, a Michigan corporation, owns and manages in excess of 161,000 acres of timberland and over 400,000 acres of mineral rights in Michigan’s Upper Peninsula.