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http://www.krem.com/topstories/stories/krem2-062309-newsilvermine.1d21593b.html
Massive mineral discovery in North Idaho
By KREM.com
NEAR OSBURN, Id. -- It could be one of the biggest mineral ore discoveries in the Silver Valley. The site is just north of Osburn in the Two-Mile area. A company called Azteca Gold drilled over 11-thousand feet down to find high-grade minerals.
On Tuesday, Azteca Gold showed its partner, Royal Apex Ventures, the discovery. It may be the source of all the minerals that have been mined in the Silver Valley for hundreds of years. Premium silver, lead, zinc and copper could all be in that location. But President and C.E.O. of Azteca Gold, Matt Russell, admits without more drilling, no one knows exactly what’s there. That is why he is courting potential investors.
“What we’re looking for specifically is the same metals. Maybe we get some copper and gold too,” said Russell. Russell envisions a small, efficient and profitable mine. It would be a mine that would extract the best ore with possibly the fewest people. He says older, larger mines may be a thing of the past.
Russell says it will be at least another year before his company knows just how much is below the ground. He estimates any mine there would cost up to 150-million dollars.
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I used to work about 30 minutes west of Osburn; I even recruited a young man from that town. Nice area otherwise, but a bit too much industrial build-up...
Massive mineral discovery in North Idaho
By KREM.com
NEAR OSBURN, Id. -- It could be one of the biggest mineral ore discoveries in the Silver Valley. The site is just north of Osburn in the Two-Mile area. A company called Azteca Gold drilled over 11-thousand feet down to find high-grade minerals.
On Tuesday, Azteca Gold showed its partner, Royal Apex Ventures, the discovery. It may be the source of all the minerals that have been mined in the Silver Valley for hundreds of years. Premium silver, lead, zinc and copper could all be in that location. But President and C.E.O. of Azteca Gold, Matt Russell, admits without more drilling, no one knows exactly what’s there. That is why he is courting potential investors.
“What we’re looking for specifically is the same metals. Maybe we get some copper and gold too,” said Russell. Russell envisions a small, efficient and profitable mine. It would be a mine that would extract the best ore with possibly the fewest people. He says older, larger mines may be a thing of the past.
Russell says it will be at least another year before his company knows just how much is below the ground. He estimates any mine there would cost up to 150-million dollars.
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I used to work about 30 minutes west of Osburn; I even recruited a young man from that town. Nice area otherwise, but a bit too much industrial build-up...
