Why Did This Silver Mine Close? - Pt III
December 2014 by Bill RichNarrowing down a closure date will allow you to check the commodity price during that time and possibly confirm that a low price, rather than a lack of ore, was the driving force that closed the operation.
...two jadeite locations in California have been thoroughly researched by geologists. There are no doubt others that lie in wait.
The big interest to prospectors thinking about the effect of erosion is not what might happen long into the future, but what they might find in the rivers later this summer when the water levels go down.
I suspect detailed geological mapping and prospecting would lead to discovery of one or more overlooked gold deposits in the district even though it has been heavily prospected in the past.
This mine was a real wonder of engineering, and the water supply and drifts had to be carefully managed to keep it in operation. In fact, it didn’t close due to lack of gold, but instead closed with the fall of the Roman Empire.
In some ways, silver is the forgotten precious metal because it straddles both the world of precious metals and jewelry, while having many important industrial applications like a base metal. The price of silver reflects both the precious metal investment demand as well as the industrial demand.
Improvements in mining equipment and techniques, along with a higher gold price, make many mining properties profitable today that may not have been in the past.
When prospectors and treasure hunters talk of gold in Arizona, it is the Lost Dutchman or Vulture mine they usually think of. The Lost Dutchman gold mine is just that—a myth chalked full of holes that has been embellished over time as any good legend should be.
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