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Taber Mine

California Gold Mine For Sale or Lease

Location: California, USA
Commodities: Gold
Price: $2.5 Million
NOT AVAILABLE

Summary

The property is crossed by two channels of the ancestral Tertiary North Fork of the Yuba River and they each are about 1000 feet rim to rim. A “front channel”, a ¼ mile length of drifted and hydrauliced channel and a “back channel”, a discovered virgin auriferous channel with a length of about one mile. This channel was reportedly the richest feeder to the large northern tributaries of the Tertiary Yuba River. The channels run parallel from east to west with the east boundary of the property being just downstream the Melones Fault, the main structure along which many of the rich gold deposits of the Mother Lode are found. This proximity to the fault created a super rich zone that produced big gold nuggets of 90 ounces and better and heavy pay as proved by the adjoining mines. The virgin back channel was reached in 1904 in the main tunnel that follows the west boundary of the property and was drilled into upstream in the middle of the property in 1931. At the Thistle Shaft mine a mile downstream and adjoining the Taber to the west the channel was worked to over 300 feet wide and breasted 6 to 9 feet high. At the Union Mine adjoining to the east it was worked over 200 feet wide breasted 6 to 9 feet high. Both mines produced rich ore at these channel widths and breasting heights. A minimum average channel width of 250 feet and breasting height of 6 feet could be considered representative of the adjoining mine workings and of the extent of reserves within the Back channel crossing the Taber property. The known mineable reserves can be calculated using a minimum breast height of six feet and width of 250 feet for a length of 5200 feet and is 290,000 yards. This yardage will be increased by use of more modern breasting methods and tools. By using the adjoining downstream mines actual production records of $6/yd ($20/oz) the value the reserves in the Taber could be represented by a figure of 0.3oz/yd. This figure does not take into account that the upstream mine had much higher values which surely do not stop at the property line. It also does not account for the heavy losses incurred in the old washing techniques. At 0.3 oz/yd x 290,000yds = 87,000 ounces of reserves. 87,000 ozs at $1400 = $121,800,000
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