Established 1892 - Lode Gold Mine For Sale

Northern California Underground Gold Mine

Mine Details

Commodity: Gold
Location: California, USA
Terms: For Sale, Joint Venture
Price: $1,295,000

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The Property consists of 7 contiguous unpatented surveyed federal load mining claims covering approximately 94.60 acres. The property has been operated intermittently over the past 120 years. Between the years 2011 thru 2013, the owners spent over $2.6 million (audited) on exploration and development mining. The property is supported by a Historical Resource Estimate (2009) suggesting 42,000 short tons blocked out at 1 opt and a 43-101 Technical Report (2012).

The Property is located in the Salmon Mountains north of the Klamath National Forest approximately 7 miles from the nearest town in Siskiyou County, California. The Property is accessible by paved and (county maintained) gravel road approximately 7 miles west of Interstate 5.

The targeted Vein occurs along a fault/fissure in a Paleozoic to Triassic-age greenstone-chert assemblage composed predominantly of metavolcanic and metasedimentary rocks, including chert, shale, argillite and minor limestone. The vein is offset by observed faults within the mine through 4 separate drifts and there a Vein parallel structures that potentially offset minable bodies at the Property.

Historical Geological Reports: 1892 0.97 Au/ton with ore running at $20.00 Au/ton (11/16/1892). 1892 100 tons milled by Selby avg. $61.00/ton (3oz Au equivalent/ton - 12/7/1892). 1900 July 24 day mill run produced $5,300 (254.4 oz Au; 10.7 oz/day; 10 tons/day at 1 opt Au - Mining and Scientific Press). 2003 Core Drilling produced 25' of 1.024 oz Au/ton and 30' of 4.758 oz Au/ton. 2011 metallurgical testing indicates recoveries of 95% gold and 87% silver with approximately 80% of recoverable ore from gravity.

Multiple assays completed with underground surveys available.