Montana Tunnels is a fully integrated open-pit mine and concentrating facility first active in 1986. Over $4.85B worth of minerals have been extracted from previous successful operations at Montana Tunnels.

Investment Thesis

Due to successful and profitable prior operations, we intend to pursue the next phase at Montana Tunnels by expanding the fully-permitted and shovel-ready M-Pit.

We have completed ore-delineation drilling at M-Pit, demonstrating substantial proven and probable reserves worth in excess of $1.4B. Such reserves include:

  • Gold: 505,920 oz.
  • Silver: 8.7M oz.
  • Lead: 127M lbs.
  • Zinc: 362M lbs.

We acquired Montana Tunnels from Apollo Gold Corporation (“Apollo”) in two phases.

Phase 1: In July 2006, we acquired a 50% joint venture interest in Montana Tunnels from Apollo. We advanced Apollo $14.25M to remediate the Montana Tunnel’s L-Pit following a pit wall stability issue. The L-Pit completed mining in November, 2008.

Phase 2: Following our success mining the L-Pit, we “doubled-down” on our investment. In February, 2010, we purchased the remaining 50% interest in Montana Tunnels

Montana Tunnels Mining
P.O. Box 176
Jefferson City, Montana 59638
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