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Alaska-focused project developer Tectonic Metals has struck a landmark C$2 million (US$2.43 million) deal with the largest private landholder in Alaska and one of the biggest in North America, Doyon, giving Alaska natives a 22.3% strategic stake in the Canada-based company developing the Tibbs, Seventymile and Northway projects on Doyon land.
Tectonic has gained a significant partner in the Doyon, the largest private landholder in Alaska, which should smooth the exploration and eventual development of the Tibbs project
"For a junior like us to gain a 20%-plus shareholder, at a premium, amid the current economic environment is a value-adding feat in itself," CEO Tony Reda told Mining Journal.
Kaminak team reforms to explore in Alaska
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