Melman on Gold & Silver
February 2008 by Leonard MelmanWhat a start to the year! In just the first two weeks of 2008, we saw the price of gold explode to the highest levels in history at $900 per ounce, Crude Oil reach $100 per barrel, some of the world’s largest financial institutions collapse in market value, unrest spread in Pakistan following the assassination of Benazir Bhutto, the worst jobs report from the Department of Labor in at least two years and the continued erosion of residential real estate values.
The German scientist, Alfred Wegener, came out with his theory of "continental drift" in 1912. He was considered a crackpot and it was half a century before geologists and planetary scientists began to take a second look at his theory.
In June 1893, a wiry Irish prospector by the name of Paddy Hannon was prospecting the harsh, dry country east of Coolgardie in Western Australia. It was country that could suck the moisture from a man’s body in days...
Half the prospecting adventures I’ve done on the Kenai Peninsula occurred in winter. Not because I enjoyed looking for gold among the ice flows or 34-degree water, but on some creeks winter is the best time to find gold after violent swirl holes slow down.
• Copenhagen—Don't ask, don't tell
• Will consider lease or trade
• By the numbers
The diverse minerals, salts, and moisture, plus any halo effect, and old-timer trash, especially decomposing iron artifacts, are often found in any dry placer gold field and can really mask the “penetration powers” of a detector.
In retrospect, I can now see that the thoughtless breaking of one of my safety rules regarding not dredging alone was to be a lesson I won’t soon forget.
The Bawl Mill • Gold Deposits of North Carolina • Turning Waste Rock Into Profit • Dredging the Mokelumne • How to Get Started as a Gold Prospector • Sunshine Mine is Up and Running Again • Gold at Ponderosa • The Juneau Goldfields • Wham Hill • Golden Sunlight Seeks Expansion • Washington Gold & Fish Regulations Update • Mining Stock Quotes and Mineral & Metal Prices