The Ruby Mine is situated in Sierra County, California, between Alleghany and Downieville in the northern segment of California's Mother Lode Gold Belt. The mine facilities are at an elevation between 4,700 feet and 5,300 feet above sea level. The Alleghany District is the most famous high-grade gold district in California, and might now be considered the most attractive part of the Mother Lode for gold exploration and mining in northern California. Access is excellent, with a paved, county-maintained road to the property: 1 hour to Grass Valley, 2.5 hours to Sacramento International Airport. Reno, Nevada, is about 3 hours distant.

The Ruby Mine offers an exceptional opportunity and outstanding value. Geological studies conclude that 3 to 4 miles of gold-bearing Tertiary Channels remain unmined within the Ruby. Channels like these can run over 100,000 ounces to the mile, so conservative estimates suggest a resource potential of 150,000 ounces and more. Millions of dollars have been spent on infrastructure, with over $1.5 million invested in facilities upgrades, underground tunnel rehabilitation, permitting and compliance since 2011. The Ruby Mine has an advanced infrastructure and is permitted for underground gold mining, placer milling and disposal of mill tailings. Both placer and lode processing plants are onsite, with considerable money having been spent recently upgrading the placer plant. The Ruby has an approved reclamation plan, and financial assurances totaling $174,000 are in place and current. The recently-commissioned Ruby Mine Mining Plan anticipates placer gold production costs of under $700/oz and observes that, "this is a particularly attractive project owing to: (a) the small initial capital expenditure required; (b) the quick time to production, with an expectation of profitability in Year Two; and, (c) the low production cost per ounce of gold. In addition, there is strong evidence suggesting that the Mine Life could prove to be far beyond the conservative Ten Years estimated by this report." The Ruby Mine presents the outstanding opportunity to go placer mining in some of the richest ancient river channels in the world, without spending the millions of dollars and years of time typically required to develop and permit a project to the point where mining can begin. The Ruby is a turn-key project with well-defined and readily-accessible gold targets where the capital can be focused toward near term production right from the start.

The famous "Great Blue Lead" Tertiary River System extends the length of the Ruby Mine, with a 2nd branch -- the Bald Mountain Extension -- being found on the eastern side of the property. Ore shoots along the high-grade gold producing Quartz Vein structures associated with the Melones Fault -- which also extends the length of the Ruby -- contributed to the renowned richness of the Ruby's Channels and to the exceptional coarseness of the placer and quantities of large gold nuggets recovered.

An archive of maps and reports and other information is available. Indepth geological studies of the Ruby Mine and surrounding area conclude that from miles of Tertiary River Channels remain unmined within the Ruby Mine property. Historically such channels have been very profitable to mine, with grades often running 0.2 ounces per ton.

Looking somewhat farther ahead, the Ruby also has a substantial quartz gold potential that has barely been touched. As noted in the Summary Geological Report prepared this year:

"Mother Lode gold quartz veins also exist in the Ruby Mine adjacent to the placer gold deposits and are thought to be the source of the large gold nuggets recovered from the placer channels, as the quartz veins eroded and deposited gold into the streams. These veins had limited production of approximately 1,625 ounces of gold and are another attractive exploration target. An example is the 'Line of Coarse Gold' in the Old Ruby Workings. This was a quartz vein about 400 feet in length associated with concentrations of large placer nuggets that was noted and documented on the Ruby Mine maps in the 1890's. The 201 ounce nugget was recovered at the upstream end of this structure. There are six known vein systems in the workings of the Ruby Mine."

Alleghany is the most famous high-grade gold district in California and the Ruby Mine is among the District's best-known placer producers. In 1939 the Ruby Mine, in the words of the California State Mineralogist, "was the most productive drift placer in the state."

The Ruby Mine is famous for the large nuggets it has produced. In the late 1930's into the 1940's, the Ruby produced almost 1,000 ounces of nuggets 3 oz and larger out of somewhat over 50,000 oz of placer gold mined.

The Ruby Tunnel was portalled in 1880, and the Ruby soon became one of the district's most famous and productive underground placer drift mines. Historical gold production from the Ruby is estimated to be around 200,000 ounces. That number increases to around 400,000 oz. when one includes the adjacent properties.

See our listing at Sierra Heritage Realty for more photos and information:

http://www.sierraheritagerealty.com/2-5-mil-gold-mine-fully-permitted-and-operational/

Alan Savage – Broker/Owner

Cell: (530) 386-6236

Office: (530) 477-6755

Email: Use form below
BRE#: 01039993

See our website for reports, maps and more information:

http://rubymine.com