Persistence Pays off for Cusac Gold Mines
March 2007 by Leonard MelmanCusac Gold Mines is a Canadian junior mining corporation conducting their operations and explorations in one of the most remote areas in the North American continent, near the one-time town of Cassiar.
On May 29, 2007, the Eastern Oregon Mining Association (EOMA) filed their Opening Brief in the Oregon Court of Appeals against the Oregon Dept. of Environmental Quality (DEQ).
Here’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.
I recently attended two out of three days of the California Mining Association’s Annual Conference in Monterey, California, and found it well worth my time.
Some financial commentators have speculated that bitcoin and other virtual currencies have captured a portion of funds that would have been invested in gold. I find it a bit ironic that people who invest in precious metals would even consider another fiat currency.
It is better in a gem and mineral mining operation that the driller, blaster and mucker be the same person in order to be able to predict placement of the desired mineral enriched pockets.
The faulting, folding and shearing that occurred in the Mother Lode belt has created zones of structurally weak rocks or contacts between different types of rock, which has been favorable for the deposition of gold bearing ores.
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