Anyone following junior mining in British Columbia – and by extension the Mineral Titles Office – may have caught an interesting bit of drama in April courtesy of Carmax Mining and Chief Gold Commissioner Mark Messmer. The episode offers a valuable lesson on mineral title and a look at how the Mineral Tenure Act (MTA) handles claim forfeitures.
Carmax’s flagship asset is the Eaglehead copper project, 48 km east of Dease Lake, BC, which it has been working on since roughly 2002. The company has invested $5.3 million in the project, and it amalgamated the 34 mineral concessions that constitute Eaglehead in March 2015, into claim No. 1034634, which covers 134 km2.
It appears that someone at Carmax neglected to read the fine print: when you merge claims, the combined land package inherits the earliest expiration date of all the individual tenures.
The result was that the rights to the amalgamated land package were default scheduled to lapse on April 11, 2016. Unfortunately, the company didn’t know this, or they forgot, and on April 12, Eaglehead became openly available on BC’s Mineral Titles Online system.
Read the entire story at www.NorthernMiner.com/regulatory-issues/editorial