Patented gold mine with much history. Newly re-furbished mill had $4.8M spent on it over the past year. Over 600 acres including patented land and non-patented claims. The mill is capable of 200 tons per day easily and up to 300 depending on the ore.

The ore averages about 1/4 oz gold per ton with a lot of 1/2 oz sections. It also holds 25 oz silver per ton. Currently there is 45,000 tons proven ore with very large quantities of probable ore. There are large exposed surface veins that have never been explored so there is huge up-side to the mine.

Historical resource estimates show proven and probable reserves of 43,470 ounces of gold and 636,930 ounces of silver, inferred resources of 125,000 ounces of gold and 1,750,000 ounces of silver, and as much as another 800,000 ounces of gold in potential resources that are amenable to open pit operations.

It also holds a cyanide permit which is impossible to obtain today. This can be of immense value to the project. It is fully permitted and is the only private permitted mill in this state. For this reason it can engage in custom milling also and has opportunity for up to 1000 tons per month if desired.

With the right inducement it may be possible to retain the current mine manager. Sale price is $18 Million. If you would rather engage as an investor by investing $2M - $4M the current owners will stay on and operate/produce. It is turn-key and ready to go. All it needs is the funds.

This mine is now operating at a low level with a skeleton crew. This has got to be one of the better investments available in gold mining.

Posted Jun 27, 2009

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