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The Gold Mine includes four association placer mining claims for a total of 89 acres which are patented. Mineralization consists of placer gold, silver and some platinum group metals found in the gravels, usually on the bedrock. In some areas on the steep slopes gold is found in a rocky soil on a metavolcanic bedrock. In the area of the placer mining claims, the metavolcanics are at least 800 feet thick. These metavolcanics appear to rest on an intrusive rock, possibly a diorite. This intrusive rock made up the bedrock at the lowest elevations within the placer claims.
In 1983 the government did several test holes and estimated just the gold reserves to be about 13,000 oz (ten samples taken at the time of patent) from flakes up to the size of a grain of rice. This estimate did not include the platinum, silver or gold values in the black sand, or nuggets that are larger than a grain of rice.
There are about 10,000 tons of black sand with approximately
5oz of gold, x $1600 = $8,000
68oz of silver, x $32 = $ 2,176
9.9oz of rhodium x $1525 = $15,097
39oz of palladium and x $680 = $26,520
4.5oz of platinum per ton. x $1500 = $6,750
= $58,543 per ton x 10,000 = $585,430,000 value 2011
The owners dug a test hole down to bedrock and exposed an area of 10' x 15' where they recovered 3 ounces of gold ranging in size from flakes to quarter+ ounce nuggets and at least one nugget that weighted 4.5 ounces.
The patents for this mine were granted in February 1983 by the US Dept. of Agriculture/Forest Service, but it has hardly been touched since then.
The gold nuggets are a major portion of what is to be expected from this property and have to be recognized as a 'value added' asset worthy of consideration and should not have been excluded from the original appraisal.
If the removal of the top soil is done with landscaping in mind, once the minerals are extracted, you still have a very valuable piece of property to sell. The acreage is located in a pristine recreation area of Northern California near the Oregon border.
According to the owner, mining of the bench gravel within the claimed area was in progress sometime in the 1930's. The owner's mining operation consisted of dozing off the overburden and then by using a front end loader picking up the gravel and dumping the ore on a grizzly to remove the larger rock. The remainder of the material was then washed through a sluice box where the free gold was recovered. Tails from the sluice box went into a portion of the old worked out area. The owner had planned to clean the bedrock with a suction dredge where the bedrock has standing water. Water for the washing operation came from a year around stream which runs through the property.
There is valuable timber on the property and there is even a small cabin.
$4.75MM OBO for a buy-out
To receive the details, fill out the NDNC.pdf and email it to me.
Partly colorized due to the picture quality