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.
Excerpts from California Mining Journal, our original title, published 50 years ago this month.
Basic Geology for the Independent Miner—Part III Understanding Plate Tectonics, Volcanism and Mountain Building
The formation of gold, silver and many other types of deposits depends on a natural segregation of the elements from the earth, so that gold or silver (and other minerals) becomes enriched enough to form a valuable ore.
Gov. Bill Owens announced to members of the mining industry that he would consider a proposal that provides significant tax reductions for mining companies.
I must admit to taking some degree of pleasure in anticipating the excuse-making which will probably come out of the "Global Warming" camp to explain away a truly startling announcement.
Joy was written on his face, holding up the nugget—his first ever nugget—that he and his grandpa dug up together.
The excavator or backhoe has become the tool of choice for testing placer ground. These machines are the best way to explore and sample a placer deposit if the ground is not too wet or frozen and bedrock is not beyond the reach of the machine.
“Bloody Nick,” as he was known, arrived in California in 1850. From his name, there were those who thought him to be a big man, but instead, he was a small thin man, fifty-six years of age.
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