1 Lode and 1 Placer Gold Claim For Sale

Goldschmidt Mining Claim

Mine Details

Commodity: Copper, Gold, Iron, Silver
Location: Montana, USA
Terms: For Sale
Price: $20,000

Seller Website

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The Goldschmidt Claim covers an amazing mine camp that contains a few cabins, a single battery Stamp, along with 3 adits and a single shaft. Significant gold production was noted from the late 1800’s to 1942 when the mine was shut down due to the War Act. The mine never came back in full force, but it was worked, very successfully by 2 families until the 1970’s. In 1982 the mine was purchased and rehabilitated to be work-ready, the price of gold fell and the plan collapsed. By 1993 the mine was reportedly abandoned but there were still claims on it. Ores have been reported as high grade, native gold in place requiring minimal crushing to extract. 1960’s work recorded production as low as 8 ounces to the ton, that’s close to $8000 for every ton of ore processed. Not a bad return.

Reclamation occurred in 1994 in light of 8 “dangerous” adits that were reported. The surveyors were more interested in the fish in the creek than the history of the mine.

Today the claim sits as an untapped treasure. There are two cabins slowly rotting away. An old outhouse and an amazing old crusher and the remains of a grizzly. There is rich ore found around the mines and they are really just waiting to be re-opened. This mine supported at least 4 different families and all reports show that there is still substantial gold in the mine. The only caveat is that it needs to be hand worked. Ores were reported to be as high as 60 ounces of gold to the ton.

The claim has easy drive up access and could be driven to with a good all wheel drive. There is extensive room for parking and staging equipment. The mines only require minimal work to be re-opened and the new claimant could even use a small track hoe with a notice of operation in place.

This is a perfect claim for a small miner or group of miners. Easy access, easy gold and water to wash it all in.


near Sheridan, Montana, USA


It’s reported that the Goldschmidt was located as early as 1897. A German prospector from Butte, along with his family and brothers located the outcrops by following bits of gold up the stream. The mine was worked consistently from its inception to 1927. Some sort of accident occurred at the mine and the father, the original locator, died sometime in 1926. The family sold the claim to an undisclosed party. This may have been the Steiner family who are noted as helping out with various timberwork at the mine.

There is no record of the mine or the family again until 1933 when a newspaper announcement noted that Jake Steiner had purchased the mine and was restoring it for operation. The US Bureau of Mines visited the mine in 1937 and reported the information below:

“The Goldschmidt mine, known variously as the Goldsmith or Steiner, is a group of four claims located 11.6 miles by road from Sheridan. The mine is on Currant Creek, a northerly branch of Ramshorn Creek. When described in 1937, the mine was owned by Jake Steiner and sons of Sheridan. The mine was developed by a crosscut adit with about 300 feet of drifting on the vein and a small underhand stope. Above the late 1930s workings were older workings on the same vein. High grade gold ore was extracted using hand methods. The mine was active from 1928 through 1940 (Lorain pp. 62-63).
High-grade gold ore was being mined by hand methods and shipped from the lower workings. Ore of less than shipping grade, together with dump ore from the old dumps, was being treated in a small mill. The ore was reduced by a 2 inch grizzly worked in combination with a 5 x 7 inch jaw crusher. Ore was collected in a small ore bin that fed a 10 stamp Straub prospectors mill which reduced the ore to pulp. This pulp passed over a two-section amalgam plate and then over two blanket tables. Power was provided by a McCormick Deering tractor belted to the line shaft. The mill could work 12 to 15 tons of oxidized ore per hour with a return of 83%. The ore consists of oxidized quartz lenses and stringers along a bedding-plane fault in limestone. “Manganese pockets” are frequent near the ore (Lorain pp. 62-63).

In 1993, the claim was assessed and the surveyors noted no less than 8 dangerous adits. Likely these were mine openings that were perfectly safe. Regardless, there was a reclamation performed and the mine exists as you see it today. It is possible to enter the mine through the lower entrance as noted above. The reclamation has started to sluff in and it would only take a few hours with a shovel to get back in and start working the high grade Gold ore by hand.

There is a lot going on above ground. Two old cabins sit in various states of decay just off the main road that runs through the camp. The outhouse is in surprisingly good condition. As you work up the hill into the workings there is evidence of a large shaft and a massive amount of tailings. The old mine road passes by at least 2 other closed adits on the way to the old crusher battery. The Crusher is quickly losing its battle with the hillside, but it is still in complete and functional condition. A bit of power and stabilizing and it would be ready to go.

Farther down from the crusher is the lower adit. This is the one that has started to open up. This was reportedly the richest of the mines. There is no less than 20,000 tons of tailings on the claim. There are some sections of good, high grade gold ore. It’s all staged up by the crusher. Nothing remains of the shaker tables or plates.

There is a good flow of water that runs though the claim. Beautiful aspens and pines provide all the timber you would ever need to support your mining operation. There is also a lot of downed and fallen timber that can be used for campfires and fuel. The gold is still present in the mine, and there are flecks of it that can be found in the stream if you look in the right places.

Reference:
Lorain, S. H. 1937 “Gold Lode Mining in the Tobacco Root Mountains, Madison County, Montana“, U. S. Bureau of Mines, Inf. Circ. 6972.