The weather in Stewart has been exceptionally sunny over the past forty days, promising an early start for the 2015 field season. Snowpack is low for this time of the year and ablation is continuing, suggesting that more virgin areas will be freshly exposed in the coming months.
The Company reports that it has received offers for purchase and/or option of its interests in the King Tut, High North, Tuck, Delta, Fairweather, Del Norte and Treaty Creek properties. Counteroffers have been made to certain of the offers and negotiations are ongoing. An announcement will be made on the conclusion of any deal.
Current plans are to continue exploration of the Company’s Stewart area mineral claims, particularly those located due south of Seabridge Gold’s KSM property and Pretium Resources’ Brucejack property. A significant new area of interest is in the northeast corner of the King Tut claim, made prospective by Pretium’s recent announcement showing the previously unknown mineralized zone, the "Nip", located only 250m to the east of the King Tut/Pretium claims boundary line.
The main thrust of this proposed work will be within the 2km corridor postulated by Jeff Kyba, BC government geologist, on either side of the "red line" on the attached map. The significance of this red line, marking the contact between Triassic and Jurassic age rocks, was explained in a prior news release dated May 13, 2015.
Any 2015 exploration work will be contingent upon the substantial completion of the May 29, 2015 financing and subsequent repatriation of the Company’s seized mineral claims, as announced in the news release dated June 5, 2015. Sale or option of any of the Company’s properties, except for its stake in the Treaty Creek property, is also contingent on the above. Once completed, funds for exploration could come through some combination of the sale of one or more of the Company’s properties, option agreements, or a flow-through financing.