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Claims – Grant Lake Corporation owns and is selling or leasing 1,000 acres of contiguous state mining claims never mined along the Kahiltna River approximately 31 miles from the intersection of Petersville Road and Oilwell Road in the Yentna Mining District. The claims are located about 100 miles north by northwest of Anchorage Alaska. Substantial gold discoveries, exploration, and small production has been completed close to and on the claims.
Exploration & Sampling Bulk samples of up to 100 cubic yards (cy) each were taken from the ancient river channel running the length of the 3 mile long claim group. Ten samples were processed and evaluated using a small wash plant. Results indicate that consistent gold distribution at .016 oz. au/cy throughout the claim group warrants commercial placer mine development. The projects consists of two separate sites, each with average pay depths of 10′. Monazite-2B is 360 acres, it has 200 acres of mineable area=3.2 million cy. PGE is 640 acres, it also has 200 acres of mineable area=3.2 million cy. The Monazite and PGE sites each have inferred reserves of $66.56M based on .016 oz au/cy, and gold at $1,300 oz. Economically recoverable amounts of platinum and gem stones can be produced as a by product of placer gold operations.
Application for Permits to Mine in Alaska (APMA) has been submitted for the 2018 season. Grant Lake filed Kahiltna Project APMA No: A185607, with COE JD, on December 8, 2018, to begin road repairs, complete demolition of old structures on the claim group, remove old fuel tanks and miscellaneous non-mining related items and perform new trench sampling and analysis on all 16 claims. With our APMA filed, we can begin reclamation, road repairs and trenching as soon as the ground dries out.
The company has filed its Matanuska-Susitna Borough (MSB) Right-of-Way Construction Permit Application. It was a prerequisite before our licensed surveyors can complete the as-built survey of the existing access trail, needed to secure the Construction Permit and commence new road construction. If the company can raise equity capital quickly enough to exploit the situation fully management believes the lessees should begin mining in June 2019.
Pay Gravel Illustration
Jelly Opal from Kahiltna