Aug 20, 2008, 01:14 PM
California Underground Mine
We are a family owned and operated gold mining company with an excellent track record of doing business in California. Our current project is an underground gold mining operation in one of the richest districts of the California Mother Load.
This past producer has an excellent history and its full potential has never been realized. The claims contain numerous high grade quartz veins and underground Tertiary channels rich with placer gold. Historical reports indicate over $25M in probable reserves. A recent drill program has expanded this hard rock reserve total by an additional $300M in a very small section of the ore body. The geological information on this prospect indicates a potential world class gold reserve contained in one of the highest grade deposits in all of the US. All reports are available on request.
A drill program conducted on the veins by APCO Oil in 1972 confirmed exceptional grades and widths. Highlights include:
Hole # Intercept length # of assay intervals average grade* best intercept width grade*
DDH-1 197’ 21 2.96 opt 87’-134’ 47’ 4.49 opt
DDH -2 274’ 12 2.43 opt 136’–201’ 65’ 2.81 opt
*Note: These values are in ounces per ton not grams.
There are also five known gold bearing Tertiary channels on property. The two primary channels historically averaged 14 ounces and 16 ounces of gold per foot of channel mined. There is over 5500 feet of un-mined primary channel remaining with estimated placer reserves in excess of 82,500 ounces. These channels produce jewelry grade nuggets with premium value. One ore car of placer gravels yielded 2,950 ounces!
29 ounce nugget from mine on display at Smithsonian Institute:
Placer gold taken from channels on claims:
Our company recently brought a similar, but smaller, California mine into production and then sold it for $6M. We have a small and experienced work force capable of successfully developing profitable mining operations in the highly regulated industry. We pride ourselves in managing costs and prudently developing mines into production.
We have spent over $700k on developing the project to its current stage. The work completed to date includes:
1. Purchase of the existing mining claims and staking of additional ground
2. Compilation of the extensive geological data onto an AUTOCAD / GIS software data base
3. Gaining the required approvals and permits to commence operations
4. Purchase and mobilization of the mining equipment needed to begin development work
The company is seeking operating capital in the amount of $500K to rehabilitate the underground workings, validate the historical drill data and ore reserve reports and begin limited production mining. This work is scheduled and on-track for the remainder of 2008 and 2009. Confirming the existing geological data and further delineating the reserves will strongly position the business for second level funding (if necessary) or a lucrative buyout by one of the industry’s majors. The work accomplished with this first round of funding will also facilitate limited high grade mining (permitted and approved) which could establish a positive cash flow to provide operating capital to increase production levels. Investors receive a priority payback schedule from production and can choose to be paid in bullion if desired.
Due to the depressed gold prices prior to 2006 there are very few mines such as ours at the present stage of permitting and development. With the current price of gold above $800 per ounce the timing is optimal for developing a cost effective, profitable gold mine. Most gold mining operations require several million dollars and years of groundwork just to get them into the “feasibility stage”. This is an opportunity, at a fraction of the cost, for a ground floor investment in a viable gold mine with an upside potential comparable to the major producers.
Mark Twain’s definition of a gold mine was “A hole in the ground with a liar standing above it.” This is typically the case for such ventures. We welcome and encourage any investor and their geologist familiar with such deposits to peruse our data. We are certain that a thorough examination of the available information will convince the sophisticated investor of the merits of this investment opportunity.
Please contact email@example.com for more information. Thank you for your consideration of this venture.
Aug 20, 2008 01:14 PM
Aug 21, 2008, 09:39 AM
Re: California Underground Mine