Gold Garbage: Scams New & Old
October 2002 by Dr. Ralph E. PrayHere’s what actually happened, described in the case file documents: Based on a precious metal assay certificate signed by a registered southwest assayer, the sellers, in consideration of the payment of over $53 million, transfer over 185,000 troy ounces stored in a warehouse to a company based in Norway. This document was signed and notarized in a southwest town, and was publicly distributed in 2001. Guess what?! The warehouse floor concrete may have a higher gold assay than the concentrates sitting above it valued at fifty-three million.
It’s been seven years since Forrest Fenn announced the existence of the buried treasure, said to be worth nearly $2 million. It has prompted thousands to comb areas of New Mexico, Yellowstone National Park and elsewhere.
I can’t remember the exact day, but I do remember I was 11 years old when my father Charlie Sr. took me prospecting for the first time. That’s the day the fire and passion for gold was first ignited in me. I was born and raised in Grand Forks, British Columbia, and was lucky enough to have a gold bearing creek about 10 miles from our home.
Within this area, about two million ounces of gold and fifty million ounces of silver have been mined. Faults, dikes, veins and fissures that carry the ore form a concentric radial pattern—like spokes on a wagon wheel—around the caldera core.
Coeur d’Alene Mines newest silver project has found a home in a historic Bolivian mining district.
The company will build a $135 million open-pit mine at the base of Cerro Rico, the “rich hill” that was the site of a 1545 silver strike.
The technology used in these devices has advanced greatly in the last century. Many different types of physical effects are used to measure these magnetic fields and we will briefly look at some of these.
The Michigan Court of Appeals overturned a lower court ruling that had blocked the state Department of Environmental Quality from deciding whether to issue a permit for a nickel and copper mine in the Upper Peninsula.
It was "standing room only" as a crowd of approximately 50 interested miners attended a meeting hosted by the Powers Ranger District and Forest Service personnel from the Siskiyou National Forest.
The Bawl Mill • Our Readers Say • Placer Gold in Idaho • Working the Belmont Mine Butte, Montana—1953 • Simple Sluice Design • Cobalt and Nickel in Missouri • Sunshine Mine Video Brings Back Painful Memories • Hardrock Detecting • Company Notes • Picks & Pans: Confessions of a Professional Nuggetshooter • Gondwana Gold and Diamonds • Looking Back • Ghost Towns of Washington County, Utah • The Fire Within • 2002 California State Gold Panning Championships—Foresthill, California • Mining Stock Quotes and Mineral & Metal Prices • Melman on Gold & Silver