The licence gives Seabridge subsidiary KSM Mining ULC the right to occupy the area in which it intends to construction the MTT, consisting of two, 23-km-long parallel tunnels planned to connect the east and west sides of the KSM mine site.
The MTT route passes through 11 mineral claims owned by a joint venture of Tudor Gold (TSXV: TUD), Teuton Resources (TSXV: TUO) and American Creek Resources (TSXV: AMK). The new licence replaces the one granted in 2014, which included the words “subject to the prior rights” of the holder of the 11 mineral claims owned by the joint venture.
The licence removes that phrase as it served no purpose, and further obstructs the three partners from obstructing, endangering or interfering with KSM Mining’s activities regarding the MTT project. The new licence grants no interest in the minerals within the licence to Seabridge or its subsidiary.
“We are pleased the renewed LOO provides greater…
