*Newbie needs help.... new claim....*

[jza01701]

Hello.

I bought a lode claim in NV with an old mine.

It is 2500 miles from where I live. I started an LLC in NV and bought some other land a few hours away.

I am thinking of hiring someone for geologic modelling the whole claim or at least the mines (contacts? resources?).

I have not invested in equipment yet; drywasher, rock crusher, generator, jackhammer etc.

I was thinking of just going out on a brief trip with a metal detector to check it out.

Its been like 50 years since anyone mined it.

I am definitely freaked out at the remote possibility of Mountain Lions in the largest adit.

I do not have access to firearms and would like to just head out on my own.

Probably just going to get some bear spray and machete.

The Great Basins, Scorpions, Spiders, Bats, Coyotes, Bobcats, Foxes, and Bears do not worry me as much.

Anyway, I am overwhelmed at the difference between using a metal detector and a full underground geologic 3D model.

I will not learn nearly as much with metal detector. Though it could be fun to tool around and hunt for nuggets.

There is heavy mineralization, iron, copper, silver, and gold ore.

One sample tested 30+ PPM (Au) so I bought the claim.

I could just move out there. It is in the middle of the desert. The 3D model would determine that factor.

I am looking for suggestions about how to approach the whole concept.

Thanks.

 

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[SaltwaterServr]

You bought a mining claim, sight unseen? Without testing anything yourself?

Seriously?

 

[jza01701]

It is commonly referred to as a "Speculative Investment".

Speculative investments are often high risk. They can reap high profits in short-term, long-term, both, or neither, The nature of it being "speculative" is that the investor is only speculating on its perceived future value based on purchase price. I bough the claim because I could afford the price of the particular one I bought. I would not speculate on expensive claims without more info. I speculated based on the price I paid that the potential profit would at least be more than I invested (30+ PPM Au). That is approximately one ounce per ton of gold or $1250.00 per 2200 pounds of rock.. I speculated that there is more tonage with that grade of ore than not. The Geologic Modelling and Engineers will determine its value before I buy any equipment. Thanks. Jon

 

[SaltwaterServr]

Speculative investments are often high risk. They can reap high profits in short-term, long-term, both, or neither, The nature of it being "speculative" is that the investor is only speculating on its perceived future value based on purchase price. I bough the claim because I could afford the price of the particular one I bought. I would not speculate on expensive claims without more info. I speculated based on the price I paid that the potential profit would at least be more than I invested (30+ PPM Au). That is approximately one ounce per ton of gold or $1250.00 per 2200 pounds of rock.. I speculated that there is more tonage with that grade of ore than not. The Geologic Modelling and Engineers will determine its value before I buy any equipment. Thanks. Jon

What you probably didn't consider that now you have a gold mining company. What you do to that mine is beyond casual use. You now may owe for reclamation of that entire claim if the BLM, or Forest Service if they're involved, says so. They have the right to reclaim that mine at any time, and if you say no, you're on the hook for it.

You did figure on spending tens of thousands to put it back to a natural state, or a few hundred thousand, or a few million? There is no grandfather clause here where you own to put it back to the state of development of where you bought it, it goes back to original natural state as evidenced by the surrounding area.

The online gold selling folks tend to forget to mention that fact.

Second, for future reference, you need to know the size of the vein or pocket that one sample came out of. You might be chasing a six inch wide vein in mostly barren country rock. If you're driving a shaft or adit, you are moving rock approximately 6'x6' to make it passable for a person. Instead of one ton of rock equaling one ton of ore, you're now moving 12 tons of rock per ton of ore. Two people with say a good demo hammer can move and load 4 tons of rock per day.

It'll now take you 3 days to get one ton of ore. Notwithstanding operating costs you're down to $417 per day based on $1250 per ounce.

Now processing. You've got to crush it, grind and extract. I'll give you the benefit of the doubt and say you've got great free milling ore that doesn't require chemical leaching and you can get 60% of the ore recovered. Again, I'm ignoring capital costs here and stretching things for you.

That $417 per day just dropped to $250 per day. 2 miners x 3 days = 1 ton of ore at 60% recovery. Really 60% recovery is not going to happen. Think closer to 50%. No mercury either. You'll never get permits for it.

Now figure two people working the mill, concentrator, and separation. I'll say you can get that entire ton worked in a day including separating the ore from the run-of-mine.

2 miners x 3 days mining + 1 day milling to get 60% recovery at $1250 per ounce is now: $1250/.60 recovery is $750. 8 man days per ton = $750/8 = drum roll please.....



$94 per person per day. Before taxes. Before capital costs. Before operating costs. Before maintenance costs. Before reclamation costs.

You'd make more working an 8 hour shift at McDonald's in a $15 an hour minimum wage state.

If you want to get a lode mine going, you're going to need to spend an insane amount of time on the ground, and behind a computer. It's damn fun though, and exciting when you find a spot.

 

[jza01701]

Thanks for the info: Clarification.

Yes. That is Scenario #1. Scenario #2: The speculative investment is selling the LLC with the claim to the person who would mine it. After the Geologic Modelling and Engineers have completed their assessments (expensive), the value of the LLC with the claim are the profits upon sale. This does not involve any mining or casual use by me. The land would be untouched from its present state. It is the LLC itself and the included claim that would have the value of the total reserves in the entire claim. Capiche?

 

[Goodyguy]

Hello.

I bought a lode claim in NV with an old mine.

It is 2500 miles from where I live. I started an LLC in NV and bought some other land a few hours away.

I am thinking of hiring someone for geologic modelling the whole claim or at least the mines (contacts? resources?).

I have not invested in equipment yet; drywasher, rock crusher, generator, jackhammer etc.

I was thinking of just going out on a brief trip with a metal detector to check it out.

Its been like 50 years since anyone mined it.

I am definitely freaked out at the remote possibility of Mountain Lions in the largest adit.

I do not have access to firearms and would like to just head out on my own.

Probably just going to get some bear spray and machete.

The Great Basins, Scorpions, Spiders, Bats, Coyotes, Bobcats, Foxes, and Bears do not worry me as much.

Anyway, I am overwhelmed at the difference between using a metal detector and a full underground geologic 3D model.

I will not learn nearly as much with metal detector. Though it could be fun to tool around and hunt for nuggets.

There is heavy mineralization, iron, copper, silver, and gold ore.

One sample tested 30+ PPM (Au) so I bought the claim.

I could just move out there. It is in the middle of the desert. The 3D model would determine that factor.

I am looking for suggestions about how to approach the whole concept.

Thanks.

Based upon the above. I surmise that you have no experience whatsoever with hard rock mining. Please do not take my suggestion the wrong way, but you asked for suggestions about how to approach the whole concept.


Scenario #1 and #2 could cost you a lot of money.


I would advise Scenario #3.......

Sell it ASAP and mark up the venture as a learning experience.
The more you invest in this project as a greenhorn the more you stand to lose.

Also it would not be wise to explore a 50 year old abandoned mine with no underground experience.
I could write a book on the thousands of dangers potentially waiting for you there. I could write another book on gold mine scams.
Unless you collected the ore yourself and had it assayed you are trusting a stranger.

Good Luck and I wish you all the best.


I highly recommend that you Contact: http://www.nbmg.unr.edu/Staff/TingleyJ.html

Joseph V. Tingley

Research Geologist (Emeritus)
Nevada Bureau of Mines and Geology
Mackay School of Earth Sciences and Engineering
University of Nevada, Reno
Business telephone: (775) 682-8771
FAX: (775) 784-1709
E-mail:[email protected]

​

Go for the Gold
GG~

 

[arizau]

Hello.

I bought a lode claim in NV with an old mine.

It is 2500 miles from where I live. I started an LLC in NV and bought some other land a few hours away.

I am thinking of hiring someone for geologic modelling the whole claim or at least the mines (contacts? resources?).

I have not invested in equipment yet; drywasher, rock crusher, generator, jackhammer etc.

I was thinking of just going out on a brief trip with a metal detector to check it out.

Its been like 50 years since anyone mined it.

I am definitely freaked out at the remote possibility of Mountain Lions in the largest adit.

I do not have access to firearms and would like to just head out on my own.

Probably just going to get some bear spray and machete.

The Great Basins, Scorpions, Spiders, Bats, Coyotes, Bobcats, Foxes, and Bears do not worry me as much.

Anyway, I am overwhelmed at the difference between using a metal detector and a full underground geologic 3D model.

I will not learn nearly as much with metal detector. Though it could be fun to tool around and hunt for nuggets.

There is heavy mineralization, iron, copper, silver, and gold ore.

One sample tested 30+ PPM (Au) so I bought the claim.

I could just move out there. It is in the middle of the desert. The 3D model would determine that factor.

I am looking for suggestions about how to approach the whole concept.

Thanks.

Please don't take this the wrong way....the thing that really got my attention was the gold (Au) assay that you posted. I hope you realize that 30+ PPM (Au) translated is 30 + Parts Per Million....or 0.003%. That assay indicates 0.06 regular (avoirdupois) ounces of gold per ton of ore (gold is usually measured in troy ounces or grams so convert it). It might behoove you to go back to your records, do the math and determine just how much value per ton of ore* the assays indicate not only for gold but for silver and copper. Other than that, other posts have given you some good advice.

Good luck.

* Mines usually excavate at least twice as much waste material as they do ore.

 

[jair]

I live in Nevada , have the equipment for sampling , fire assay , if no one fallowed there dreams nothing would be invented , the great gold rush would never have happened ,
Yes , you may have nothing in your mine , and yes you may have been foolish in buying a mine site un seen , But it's yours to find out good or bad ! We all have done things we lost at and we have all done thing we have gained . Some of the most foolishness things have made people very Ritchie also .
Good guy knows me , I'm in LasVegas . Pm me if your serious on needing help .

 

[SaltwaterServr]

I got a feeling this is really just an April Fool's prank.

 

[Mad Machinist]

Another flatlander??

 

[SaltwaterServr]

Please don't take this the wrong way....the thing that really got my attention was the gold (Au) assay that you posted. I hope you realize that 30+ PPM (Au) translated is 30 + Parts Per Million....or 0.003%. That assay indicates 0.06 regular (avoirdupois) ounces of gold per ton of ore (gold is usually measured in troy ounces or grams so convert it). It might behoove you to go back to your records, do the math and determine just how much value per ton of ore* the assays indicate not only for gold but for silver and copper. Other than that, other posts have given you some good advice.

Good luck.

* Mines usually excavate at least twice as much waste material as they do ore.

1 ppm = 1 gram per ton

Mining Units Converter | Geology for Investors

 

[Mad Machinist]

On a more serious note, I'll put answers in italics for you. I am a professional miner. I do this everyday.

Hello.

I bought a lode claim in NV with an old mine.

As SaltwaterServr said, you now own it and it's problems for better or worse. If it is contaminated with mercury, YOU AND YOUR COMPANY are responsible for the cleanup. And if it is bad enough, you now own a Superfund site. There is a reason so few of us will play with old mines.

It is 2500 miles from where I live. I started an LLC in NV and bought some other land a few hours away.

You may need that land for collateral.

I am thinking of hiring someone for geologic modelling the whole claim or at least the mines (contacts? resources?).

You better have deep pockets for this. And I mean real deep.

I have not invested in equipment yet; drywasher, rock crusher, generator, jackhammer etc.

Once again you better have deep pockets. Won't be too bad if it is free milling. If it requires further treatment such as roasting, forget about it at 1 ounce per ton. You quite simply won't be able to move enough material to make a profit without investing billions.

I was thinking of just going out on a brief trip with a metal detector to check it out.

That would be a good idea before you decide to move out here. The desert is a whole different world than Mass.

Its been like 50 years since anyone mined it.

Then there is a reason it has sat so long.

I am definitely freaked out at the remote possibility of Mountain Lions in the largest adit.

Welcome to life in the desert. They do taste pretty damn good fried in bacon grease though.
I do not have access to firearms and would like to just head out on my own.

Bit of advice, you want to move to the desert, buy and get used to firearms. Out here they are tools just like my Leatherman.

Probably just going to get some bear spray and machete.

Great. Now we'll find a machete and cat scat that smells like pepper spray.

The Great Basins, Scorpions, Spiders, Bats, Coyotes, Bobcats, Foxes, and Bears do not worry me as much.

You ever been stung by a scorpion? Hope your not allergic to bees. There venom is close enough to bee stings that it WILL send you into anaphalactic shock if you get stung. Coyotes, bobcats, and bears will tear you up just as quick as a mountain lion, nevermind the rattlesnakes. Remember what I said about firearms? Rattlesnakes taste like chicken. DON'T overcook them. Turns them into a piece of rubber.

Anyway, I am overwhelmed at the difference between using a metal detector and a full underground geologic 3D model.

Once again, you better have deep pockets.

I will not learn nearly as much with metal detector. Though it could be fun to tool around and hunt for nuggets.

Don't go by yourself. Bad things happen in the desert when your by yourself and don't understand the desert.

There is heavy mineralization, iron, copper, silver, and gold ore.

Big deal. Show me core samples. I can show you lots of places with heavy mineralization that aren't worth crap.

One sample tested 30+ PPM (Au) so I bought the claim.

0.96 ounces per ton. Not exactly worth getting excited over, at least to me.

I could just move out there. It is in the middle of the desert. The 3D model would determine that factor.

The desert WILL be an assault on everything you THINK you know. The desert does not care and has no mercy. She has taken many lives and WILL take yours if you don't pay attention to what is going on. The weather out here is bipolar, as my daughter would say. One minute it is bright and sunny and the next your in a torrential downpour that will drowned your hind end if your in a wash and not paying attention. The storm could be twenty miles away and still drowned you depending on how the wash runs.

I am looking for suggestions about how to approach the whole concept.

If you have to ask this, then your already in over your head. Hard rock mining IS NOT for amateurs and is EXTREMELY UNFORGIVING, one mistake could cost you your or another's life. My advice to you is to sell the claim and ask a whole lot of questions BEFORE you buy another one. No serious hard rock miner would buy a claim sight unseen without core samples. An assay report is worth about the same as toilet paper. It tells you what was in THAT sample. Core samples tell you what an ore body looks like. Then you can have the core samples assayed to find where the good areas are so your not wasting money driving drifts willy nilly and missing the best stuff.

Thanks.

 

[SaltwaterServr]

Great. Now we'll find a machete and cat scat that smells like pepper spray.

Holy hell. Freaking Pepsi burns like a sumbeach coming out my nose.

 

[Mad Machinist]

Holy hell. Freaking Pepsi burns like a sumbeach coming out my nose.

Yea, I have a way with words when I want to drive a point home.

 

[arizau]

1 ppm = 1 gram per ton

Mining Units Converter | Geology for Investors

I stand corrected on the math. One ppm is 1 gram/metric ton (2204.62#).

 

[solarsmith]

Did you collect the sample your self ?,with your own tools?, and a fire assay done by your assayer? an assay from with in a few feet of the surface tend to be much higer than at depth. other wise have fun go there as much as you can learn all you can about it. and all the other mines close by. get a book on critter tracks. be ready for freezing cold at night and 100+ in the day time. dont make a mess you cant clean up. and dont release any water (look up the gold king mine on youtoub) get more samples. and have a miner look at the shafts and tunnels to see if there is a high risk of danger. test for bad air! ( this will kill you with out notice ) dont do it alone a buddy is you best safty program. and if any oficial wants to know what your doing there your just prospecting . nothing more. make sure you know where the property lines are. and have fun. and take lots of pictures. Bryan In Denver Colorado

 

[SaltwaterServr]

I stand corrected on the math. One ppm is 1 gram/metric ton (2204.62#).

We all learn together.

 

[Mad Machinist]

One other thing about life here in the desert. Do you know how to "disable" your vehicle? If not, it might not be there when you get back. Fact of life when dealing with "economic refugees".

 

[Goldwasher]

Since you don't mind wasting your money, I do know a geologist who does underground 3d mapping. He doesn't care if the mine has value or not.

Any future buyers will however and they may realize that a map of a mines tunnels really just show where things used to be.

 

[SaltwaterServr]

I got bored and read his post history. Here's what he's said about himself:

He's a Lieutenant General.

He has a PhD in herpetology.

He's colorblind.

His first trip out, or second, he found what looks like gold leaf that "he unfolded" but there are no fold lines on it.

He has mental health issues.

He's only been sober for 3, now almost four years.

He's fluent in Spanish, Italian, and English.

Mmmm hmmm. Yeah.