Northern junior explorer links up with First Nations tribe

International Frontier Resources, a junior explorer in northern Canada, has extended its interests by teaming up with an aboriginal community to hunt for oil and gas in the southern Northwest Territories.

It announced March 16 that 75,000 common shares will be issued to the Katlodeeche First Nations (part of the Deh Cho umbrella organization) to establish a joint venture to drill traditional and reserve lands held by the Katlodeeche.

The 1.9 million acres cover an area from the Alberta border to the town of Hay River. Geophysical operations are scheduled to start in the third quarter.

International Frontier already holds interests of 5 percent to 10.875 percent in four exploration licenses and 10 freehold parcels in the Central Mackenzie Valley, where an exploration program is in progress involving one wildcat well and production testing of the Summit Creek B-44 well at a total cost of up to C$17.5 million. The southern NWT has extra appeal because of significantly lower front end costs.

—Gary Park