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Idaho Gold Project Drilled w/ Historical Resource

250,000+ tons .42 oz/ton gold, EZ permitting

Mine Details

Commodities: Gold, Silver
Available Terms: For Sale
Price: 70000
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Summary

Gold project in southern Idaho with historical resource of 250,000+ tons graded 0.42 oz. gold/ton and 1.45 oz. silver/ton

Location and Access

The Colorado Gulch claims are located approximately three miles south of Hailey in Blaine County, Idaho. There is direct road access.
The elevation is approximately 6200 feet. These claims are on Bureau of Land Management (BLM) land.

Description

The Colorado Gulch project is on a high grade gold-silver deposit in southern Idaho. The claims are all on BLM land, have a historical resource that has good potential to be expanded with additional drilling, and are more suitable to development/permitting than most projects in Idaho.

Geology

The regional mineral belt is well known for two separate and distinct types of mineral deposits.
Lead-zinc-silver strataform sulfide deposits occur within black graphitic shales of the Paleozoic Wood River and Milligan Formations and constitute one type, whereas, gold-bearing fissure veins cutting granitic intrusive bodies are the second type.
The gold-bearing veins are predominate throughout Colorado Gulch claims. Northwest-striking quartz veins carrying pyrite, arsenopyrite, chalcopyrite, native gold and electrum cut medium grained diorite and the veins are themselves cut but are not displaced by younger basalt dikes.
Best exposures of the southwest-dipping auriferous quartz veins are in and near the lower Magdalena adit where recent underground work has exposed one or more veins ranging from six inches to ten feet in width.
As many as three and likely more veins occur on the claims. Veins are exposed in underground workings at the Barbara adit and the upper and lower Magdalena adits as well as in numerous prospect pits and bulldozer trenches throughout the property.

At this point in time, the extent of underground openings is limited and surface exposures are widespread so that it is not possible to comment accurately on the actual strike length of any one vein system. But, whether one or more vein systems are observed, it is probable that the strike length or lengths are persistent and can be as long as 3,800 feet. In addition, judging from the persistence of the vein in the lower Magdalena adit with regard to sulfide content and width, it is reasonable to assume that ore shoots within the vein will persist to depths at least equal to their near surface strike lengths.
The company who completed the drilling concluded the claims held 11,250 tons of “proven reserves” and 252,000 tons of “probable reserves” graded 0.42 oz. gold/ton and 1.45 oz. silver/ton.

History

Prior to the claims being acquired by a company in the 1980s they were held for decades by an individual owner and little development occurred. Upon Atlantis Mining’s acquisition the property received extensive exploration in the 1980s which included surface sampling, trenching, drifting, and cross cutting in the adits that were opened in the 1800s. A plan was formed to begin production but with the fall of gold prices by the end of the decade this did not come to fruition.
Atlantis traced the vein for 3800 feet and after completed their exploration work concluded the claims held 11,250 tons of “proven reserves” and 252,000 tons of “probable reserves” graded 0.42 oz. gold/ton and 1.45 oz. silver/ton. It is possible this can be expanded by drilling and further exploration work on the other veins on the claims.

Additional Information

I am offering these claims on an installment sale with seven installments of $10,000 paid quarterly totaling $70,000 with a 1.5% nsr. We can discuss other arrangements as well.

All 2024 fees have been paid.

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