In recent times, Houston Natural Resources Corporation, renamed Cunningham Natural Resources Corporation (OTC:HNRC), has been in the news for a variety of reasons, and it came into focus once again on Monday. The oil and gas company was in the news cycle on September 18 after it emerged that it had acquired an interest in Cunningham Mining Ltd.
Additionally, the company also announced that there was also the possibility of raising the stake over time. In this regard, it ought to be noted that Cunningham Mining Ltd. had concluded the acquisition of the Nugget Trap Placer Mine in the British Columbia Mineral Title Registry, which covered an area of as much as 573.7 acres.
Additionally, Cunningham Mining also got its hands on the permits and authorizations in the Skeena Mining Division, located in an area in British Columbia, Canada, known as the Golden Triangle. It ought to be noted that the Nugget Trap Placer Mine had been tested as far back as the 1930s, but it had never been commercially mined for silver or gold.
The commodity prices of that era and the remote location of the property had been thought to be the main factors behind the state of affairs. The property is situated around 60 kilometers to the northwest of Stewart, British Columbia.
The mineable area of the placer mine had been fed through glacial movement and pooling, both of which created the ideal mining conditions for silver and gold recovery. The Golden Triangle Zone in British Columbia, Canada, is best known for being home to some of the most impressive gold discoveries in North America. In fact, the area has attracted the interest of prospectors for many decades, and in recent times, it has generated fresh interest due to the rise in gold prices.