All the Gold Ever Mined...
February 2012 by Chuck LassiterIf you have been prospecting for any length of time, then you have probably heard something like, “All the gold ever mined would equal a cube 60 feet on each side.”
The excitement over IOCG deposits began with the discovery of a monster deposit at Olympic Dam in Australia in 1976. The discovery was accidental as the operator was searching for strata-bound copper deposits.
Potholes in bedrock can trap placer minerals and even be glory holes. They are, at least, interesting geologic phenomena, and at best, a treasure trove of gold nuggets.
…some miners are doing exceptionally well… with a few obtaining amounts estimated in the millions of dollars.
Most of the commercial mineral deposits are on the south and southwest part of the range between Minersville and Milford, though small amounts of gold and silver have also been found in iron-rich outcrops in the basalt to the south of Milford.
I (enjoy) Twain’s description of a gold mine, “A hole in the ground with a liar at the top.” Some humor here? You bet, but I’m sure he meant it to be a real eye opener as well.
Narrowing down a closure date will allow you to check the commodity price during that time and possibly confirm that a low price, rather than a lack of ore, was the driving force that closed the operation.
It seemed that the preacher always gave the same answer to anyone who asked where his gold had come from. His answer was, “If you know your gold, you can find it. However, you will have to find it the hard way, the way I found it.”
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