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El Dorado Rand Mineral Property

20 Acre Nevada Lode Mining Claim For Sale

Location: Nevada, USA
Commodities: Gold, Silver
Available Terms: For Sale
Price: $35,000
SOLD

Summary

This mine has historically been referred to as the El Dorado-Rand or the Rand mine. It is located in the Eldorado Mining District and was worked primarily for native, or free-milling gold deposits with silver as a byproduct. The Mine is located within the El Dorado Mining District and is one of the primary producers of the district. There is some history of the mines from the 1920-1941 era. In 1941 the mine was closed by the War Act. Prior to closure the mine was operating with a small staff of 16 people including a camp cook. There was a small amalgamation mill with cyanide tanks (25 ton). After costs, including milling, the mine was clearing a profit of $2000-$2500 per month (1930’s pricing). Adjusted for inflation, in 2018, that's roughly $36,000 per month in profit. Post-War Act closure, the mine was held by various small companies, none who did any serious development, nor which shipped any ores. The mill was dismantled and sold off sometime in early 1970s and marked the death knell for the property. Although there is visible gold in the quartz ores, the history was unknown and the larger mines in the region (Techatticup and Wall Street) took top billing. The El Dorado-Rand has multiple connecting drifts and workings within the mine with winzes and stopes working down to multiple lower levels. Total workings are reported as over 6,000 linear feet. Surveyors found various implements of previous mining operations on the property. Tools, and high-grade ore dumps were the most prominent. The waste dumps from the main adit show quartz, pyrite and some native (free milling) gold. Inside the mine, there are at least two well defined lodes which also show quartz, gold and pyrites. There is a side adit that is not near the main camp and is located near the top of the tailings dump. This adit leads into a winze with track and assumed extensive depth. This is likely the reported shaft that dropped to the 450’ level and accessed various other levels on the way down. The site operated an assumed flotation mill at one time. Foundations from the mill are all that is left of the milling operation. There are various concrete foundations. Additionally located was evidence of an old leaching pond and large amounts of tailings (processed ores). Roads to the El Dorado Rand are in relatively good condition and can be traversed by most any 4WD vehicle with high clearance. There are some technical areas that may require a spotter the first few times in. With care, it is possible to bring a trailer in as well. The mines are in good condition and the air flow was good, measuring in at 20.8% as expected. Some shoring and stabilization should be executed prior to any activities beyond sampling and surveying. This was a very large site that even operating with 16 people was turning quite a profit before it was shut down by the War Act. If the new owner could even match what the previous operation managed they could plan on a yearly profit of over $350k.
Property Sold

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