July 2005 by StaffExcerpts from California Mining Journal, our original title, published 50 years ago this month.
In 1877, a prospector named Ed Schieffelin discovered silver in “the middle of nowhere” and staked two claims: “Tumbstone” and “Graveyard.” Soon a town and mining district were organized and acquired the name “Tombstone” after making a spelling correction.
With gold hovering above $650 an ounce, interest in panning and prospecting for the pricey precious metal in northern Idaho’s icy streams and on its rugged mountainsides has enjoyed a mini-boom.
A Draft Environmental Impact Statement has finally been released for Robert and Marjorie Miller’s proposed lode mine, the Robin Redbreast Lode, in the Uncompahgre Wilderness, located outside of Montrose, Colorado.
Uncle Sam, the not-so-silent partner of every miner, dredger and prospector is willing, using our tax laws, to help reduce out-of-pocket expenditures necessary to acquire business assets and property. In addition to the well-known depreciation deduction, however, the tax laws permit tax write-offs for other, less tangible business assets. The best time to explore and lock-in many of these overlooked and misunderstood deductions is now, well before the end of the tax year.
Investors around the world are taking a good hard look at some of the emerging developments regarding dollar creation and are clearly having second thoughts about their dollar-denominated investments.
The only phrase that comes to mind in reviewing this past month is "deja vu." We've seen all this before; falling gold prices, rising stock markets, soaring hi-tech stocks, crazy initial public offerings (IPO's) and a return to public confidence that all problems can be solved.
In this installment we will finish up our discussion of how primary hardrock gold deposits form. Understanding how rock alteration works can lead to some good ideas for exploring around old mining districts.
The Bawl Mill • Our Readers Say • The Montana Tunnels Discovery • Spreading the Fever • Forest Service Final Rule—When is a Notice or Plan Required? • New Regulations for Major Precious Metal Dealers • The Paradox Basin—Part I • The Safety in Tax Deductions for Safety • Understanding and Evaluating Desert Mineralization for Nuggetshooters • A Search for Tantalum • Copper is King in Arizona • Mining Stock Quotes and Mineral & Metal Prices • Melman on Gold & Silver