American Lithium Minerals, Inc. announced the acquisition of a 19% interest in Cunningham Mining Ltd. Cunningham Mining Ltd. owns Placer Claims known as the 'Nugget Trap' in the British Columbia Mineral Title registry, covering 573.7 acres, along with the accompanying permits and authorizations ("Property"). The Property is situated within the Skeena Mining Division of British Columbia, Canada, in the area known as BC's Golden Triangle. A recent independent assay, which includes data from a 25-pit test program, indicated an average of over 25.54 grams of gold per cubic meter of pay, as well as meaningful amounts of silver.
The company is currently permitted for a 30,000 cubic yard per annum pay mining program with the British Columbia Ministry of Mines. Located in northwestern British Columbia, Canada, the Golden Triangle boasts some of the most impressive gold discoveries in North America. The region is experiencing newfound interest due to a strengthening gold market and new advances in infrastructure.
Seabridge's KSM Project, based in BC's Golden Triangle, is one of the largest undeveloped gold deposits globally, measured by gold reserves, and is in close proximity to the Placer claim. An updated Preliminary Feasibility Study (PFS) estimates proven and probable reserves totaling 38.8 million ounces of gold and 10.2 billion pounds of copper. The gold recovered was fine-grained flakes that were jagged or torn with sharp edges due to glacial action.
The source of the gold in the gravels is from various large gold and copper deposits identified upstream and up ice from the Property, including the Mitchell, Sulphurets, Kerr, and Snowfield deposits of Seabridge Gold Inc.
