First Nation partners with diamond driller: Webiquie First Nation assumes 20 per cent ownership in Cyr Drilling.

• Author: Tollinsky, Norm
• Position: ABORIGINAL

Webiquie First Nation, a remote community 540 kilometres north of Thunder Bay, has entered into a joint venture with Winnipeg-based Cyr Drilling International and a group of private investors to provide diamond drilling services in Ontario.

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Located 50 kilometres from the highly prospective Ring of Fire region, Webiquie is ideally positioned to take advantage of diamond drilling and other exploration-related business opportunities in what promises to be Ontario's next big mining camp.

According to the terms of the agreement, Webiquie assumes a 20 per cent interest in Cyr Drilling Ontario Inc. and will be able to purchase full ownership of the company from Cyr Drilling International and the private investor group in 2013.

"We looked at the possibility of getting into the business several years ago, but lacked the expertise and weren't able to get it going," said Webiquie First Nation Chief Scott Jacob. The possibility of a joint venture with Webiquie resurfaced when Cyr Drilling entered into discussions with private investors to take advantage of Ring of Fire business opportunities.

"We had heard that (Webiquie) was interested in getting into the drilling business to create employment for members of their community, so we approached Chief Jacob and asked him if he wanted to get involved," said Gord Cyr, president of Cyr Drilling International. "He saw the opportunity and we went forward with it."

RING OF FIRE

There are currently six or seven drills in the Ring of Fire, but there could be as many as 16 by the fall, said Jacob. With just two units in its fleet, Cyr Drilling Ontario is the new kid on the block. However, as junior mining companies seek to accommodate Webiquie's interest in taking advantage of business opportunities in the region, the First Nation's participation in Cyr Drilling could fuel its growth.

"The mid-to-long-term goal," said Jacob, "is to operate across Ontario. Other drilling companies started small and now they're well known international companies working in Russia, Mexico, you name it. Our ultimate goal as First Nation people is to see our members become experts in drilling as well."

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