The British Columbia Government has renewed Seabridge Gold’s (TSX:SEA) licence of occupation (LoO) for the Mitchell Treaty Tunnels at its KSM Project until 27 September 2044.
The original LoO was scheduled to expire on 27 September 2024.
Seabridge reports the LoO provides its wholly owned subsidiary KSM Mining with the right to occupy the area in which it intends to construct the Mitchell Treaty Tunnels (MTT) – two 23km long parallel tunnels planned to connect the east and west sides of the KSM Project Mine Site.
About 12.5km of the MTT route passes through 11 mineral claims owned by a joint venture consisting of Tudor Gold Corp (TSX-V:TUD), Teuton Resources (TSX:TUO), and American Creek Resources (TSX-V:AMK), of which Tudor is the operator.
The new LoO makes it clearer that KSMCo’s use of the area of and the MTT takes priority over any use Tudor proposes to make of that area.
In addition to the LoO, KSMCo holds two additional permits associated with the MTT including a Mines Act permit M-245 which currently authorises KSMCo to conduct various construction activities.
The Treaty Saddle area is within the Treaty Claim Holders’ claims but is also within the area of the LoO. Therefore, KSMCo presently holds the right to occupy the Treaty Saddle area to construct and operate the portals and first 100m of the MTT, as well as surface infrastructure, on the Treaty Claim Holders’ claims.
In April 2024, KSMCo initiated the permit amendment process with the British Columbia Ministry of Energy, Mines and Low Carbon Innovation for approval to construct the full length of the MTT.
Seabridge’s principal asset, the KSM project, and its Iskut project, are located in Northwest British Columbia, Canada’s “Golden Triangle”, the Courageous Lake project located in Canada’s Northwest Territories, the Snowstorm project in the Getchell Gold Belt of Northern Nevada and the 3 Aces project set in the Yukon Territory.
Write to Adam Orlando at Mining.com.au
Images: Seabridge Gold
