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Elko County Gold Mine For Sale. 59,786 ounces – Property 2

Former United Nation Engineer's average assays indicate 9.5 grams/ton of ore. 50% mineral rights indicating 59,786 ounces of gold. Mining rich area.

Location: Nevada, USA
Commodities: Gold
Price: $380,000. Terms.
SOLD

Summary

-Former United Nation Engineer's Nov 7, 1979 assayed results, using Atomic Absorption Spectroscopy indicated 9.5 g/t or .305 oz/t of gold. -Estimated proven and probable reserves in total are 119,572 ounces of gold. -Per June 2022 review per Elko Daily(https://elkodaily.com/mining/company- planning-to-develop-new-elko-county-mine/article_e2043a42-eb77-11ec-bafc- ffc250c92d3f.html), the “all-in sustaining costs” to extract one ounce of gold is $1,020 per ounce in this region. Per World Gold Council (www.world.gold.org), the “all-in-sustaining costs” to extract one ounce of gold globally is $1,123 per ounce. We will use $1,100 as our AISC factor. -The potential buyer could pay a junior mining company $200 per ounce to extract the gold on this property. Total cost would become $1,300 per ounce. ---No cash outlays. -Presuming gold market spot price of $1,800 per ounce, that would net $500 per ounce profit before taxes. -Permitting from State of Nevada takes approximately 12-18 months.
Property Sold

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