Dredging The Outside Bend
July 2011 by Jim FoleyThis stringer was where it was not supposed to be, and it contained nuggets that were not supposed to be there.
“Wealth beyond your wildest imagination.” Those were the words that were used to inform me of how much gold was in a paleo channel that exists beneath the present channel of the Similkameen River in the State of Washington; words that have echoed in my mind for the past sixteen years.
In some places, semi-continuous sections of riverbed can easily be linked in many places to identify the path of the ancient rivers.
Improvements in mining equipment and techniques, along with a higher gold price, make many mining properties profitable today that may not have been in the past.
The evaluation must also consider the gold fineness or purity. The purity of the Sugardaddy nuggets is estimated at 850 fineness, meaning 85% is gold (Au), 12% is silver (Ag) with 3% being other gangue alloyed metal.
We continue to seek out a patented mining property with an owner who is willing to host such an event with a water supply and enough remaining gold to make it worthwhile for the students.
Let’s take a look at these important property aspects individually, because they all affect the value of a property and how much mining companies might or might not be interested acquiring it.
It all started with a phone call from my friend and prospecting partner Pat Keene. He told me that he knew of an investor who was just starting out in the gold industry and was looking for a gold consultant to go to Africa to prospect and analyze a 400 sq. mile concession in the middle of the Congo rainforest. I waited for the “just kidding” line...
The Bawl Mill • Can't We Just Do Something? • Ask The Experts—14-day camping limit • Legislative and Regulatory Update • Explosives and Mining • Mother Lode Leaf Gold • A Good Start • WWII Vet & Prospector Still Going Strong • Nevada Gold Value Up Along With Production • 2011 National Mining Hall of Fame Inductees • Melman on Gold & Silver • Mining Stock Quotes & Mineral and Metal Prices