Turning Hobby Mining into Business Mining
March 2013 by Steve HerschbachThe first thing a person should do is seriously consider whether they want to go mining as a hobby or a business, and the tax implications of the choice.
Filing claims is actually quite easy, though there are a number of pitfalls that you should watch out for. Over the years, I have made just about every mistake you can with a mining claim, and have learned a few things to watch out for along the way.
Old mine workings and tailing piles can represent opportunities on many levels, from the chance to simply find a nugget on up to the commercial reworking of the old tailings for profit.
I love it when I am in the middle of a high trash area and all the ferrous bars go away, the screen number goes to a three or an eight, and the meter is forty to a hundred. I don’t know for sure that I have found gold, but it narrows the odds down.
• Prospecting for Diamonds in Kimberlite by W. Dan Hausel
• Miners referring to their activity as “recreational”
Because these crevices catch and hold gold so well, it's worthwhile to learn how they form, which ones are good for catching gold and which ones are not.
Since this position was the least desirable due to the hard physical labor, the bucking room was used as punishment. Do you have a mediocre worker? Bad attitude? Off to the bucking room!
On my weekends off I spent many hours dredging the Second Broad River from Cane Creek Road up to the headwaters. I used a three-inch dredge with air and graduated to a five-inch with air.
The Bawl Mill • Ask the Experts • Ask the Experts • Ask the Experts • Ask the Experts • Ask the Experts • Legislative and Regulatory Update • Gold Deposits of Montana • Benches and Fossil Placers • Buying a Mining Claim: Questions to Ask • Looking for that Hidden Placer • The Many Facets of Iron • And the Survey Says... • $50 Million Swiped in Diamond Heist • Melman on Gold & Silver • Mining Stock Quotes and Mineral & Metal Prices