Union Bar Placer Leases
Fraser River Gold
SOLD
Summary
The lease combines three claims into one, an Upper, Middle, and Southern claim all of which are located along the East bank of the Fraser River in British Columbia (near Gang Ranch). This area is unique in that geology has created “benches” or potential deposit zones where gold can be found. A small area of these benches were originally mined by the local natives and Chinese between 1860 and 1930’s. It is amazing to see the length in which the Chinese mined this area. One can see that they only mined a limited zone and to a limited depth at a great amount of effort.
In a detailed geological report, based on a site observations of Upper Mine Site and tests performed in the early 1990, indicate that this ground has some real potential. The report breaks the site into three zone (Zones A, B, and C) of which the following volumes have been estimated: Zone A 44,000 m3, Zone B 192,000m3, Zone C 2,500,000m3. This just represents a portion of the mineable volume of Upper Claim, as stated in the report and additional zones D, E, F will require future bulk testing for future reserve potential.
Sample tests were done throughout the Upper Claim and a few in the Middle claim. A noticeable excavation of approximate 120m3 can be seen on site where approximately 8 troy oz of Gold was mined. One can extrapolate this to provide a possible estimate for the recoverable gold in Zone A.
Mining of Zone A, B, and C can potentially assist any future mining exploration of the Lease.
A copy of the Geological Report can be found in the link provided below.
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