Colorado Gold Mine For Sale

Midwest Mineral Property

Mine Details

Commodity: Copper, Gold, Silver, Zinc
Location: Colorado, USA
Terms: For Sale
Price: Contact Vendor

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Summary:

The Midwest Mineral Property is located in Mineral County Colorado in the Creede Mining District. The property consists of four contiguous lode mining claims, staked, and mapped to provide maximum coverage of the relevant locatable deposits in the area.

The Midwest Property is reported to have been discovered in 1899 on an outcrop of gold bearing chalcopyrite. No real development was executed until 1910, and the mine operated from that date until 2003.

The Midwest as it currently sits is the third incarnation of the property. The drift entrance is at 10,250’ of elevation. This is actually the lower entrance. The original drift being the Colewood Tunnel which is roughly 10,450’ and a few hundred feet north. The Colewood tunnel is largely unmapped but is reported to have a winze at 60’ that drops into the current workings of the Midwest.

There is also another collapsed drift behind the air/electric building. This portal suffered from a lot of slough and loose dirt. It was replaced by the current drift in 1953 or 1956.

The mine was worked for high grade silver, with reported values from 11oz/T to 60oz/T. In the mid-1960s, gold was discovered at a crosscut 1000’ into the drifting. This crosscut was driven 1000’ and showed enough value that Colorado Fuel and Oil (CF&I) and Homestake Mining purchased shares in the operation and invested many thousands of dollars into the renovation and development

Location and Access:

Creede Mining District - Mineral County, CO
There is excellent access to the site via established old mining roads. There are steep grades that may be challenging in wet weather and unpassable in snowy conditions.

Description:

Samples and assays on the property were taken from the Colewood Tunnel (collapsed) dump and handpicked from the remnants of the dumps at the Midwest. In 2010, there were thousands of core samples as well. Surveyors fished through these cores for specimens that showed metallic disposition and took these for assay as well.

This is an underground property. It is not suitable for open pit work. It is not suitable for surface working or processing dumps. Development will be progressed by opening up the established veins and fault deposits that have been identified underground. Stoping and packing out high grade ores for processing will be the general method required to make this property a profitable venture.

There are defined and mapped veins running through the property and various veins that have been intercepted but never worked on a commercial scale.

The majority of the dumps were removed from the property in 2003 when an EPA funded clean up, concerned with dumps bleeding into the creek, compounded and removed much of the dump. There are still some parts of the dump that can be found with a careful examination of the area.

Geology:

Contact Vendor for a GRMP-43 report that details the geology of the Midwest mineral property.

History:

Contact Vendor for a GRMP-43 report that details the history of the Midwest mineral property.

Additional Information:

The mine was worked for high grade silver, with reported values from 11oz/T to 60oz/T.. This property in available for in-house financing.

Photos:

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