Large Scale Mining
The burning question I needed answered was why didn’t the deposit ever get mined of at least one of the valuable minerals? A couple of reasons have come to light.
Many of the Sixteen to One’s challenges arise from its unusual geology and the pocket characteristics of the ore deposits.
Exploration for and prospecting in search of similar deposits should focus on rhyolite bodies located in fluorite-bearing areas.
I had a chance to visit the operation in person and talk with Neal. I was very impressed and I think our readers could learn a lot about building up a commercial placer operation from scratch…
This was no ordinary nugget. It had not traveled very far from its nearby source, and that did mean a lot, as we were searching for the source of several such nuggets found during a gold rush that occurred in 1859.
They tend to be big, coming in large to extremely large sizes. They can also be amazingly rich and produce huge amounts of very high-grade ore.
…the men sought to “inject false and misleading information about the genuine supply and demand for precious metals futures contracts into the markets, and to deceive other participants”…
Just recently, the miners hit another big pocket, this time with nearly 1,000 ounces of gold. Some of the rich specimens were as big as a fist and others were in the form of smaller pieces.
Silver refining has been used from ancient times to change the characteristics of the metal. Early metallurgists refined silver by heating it a couple hundred degrees above its melting point and holding the metal at an elevated temperature for a period of time.
“The evidence is clear—mineral deposits alone are not enough to attract precious commodity investment dollars...”
Silver Peak is a small mining community in Esmeralda County in west-central Nevada, about 30 miles west of Goldfield. Although it’s fairly remote, it’s been an important mining center since the early days.
Knowing how and when to deduct the cost and expenses of the vehicles used in the prospecting or mining operation can have significant tax implications.
My partner had the contacts and it wasn’t long before we had an agreement in place and the company had a geologist on site. I recall a time when he was getting the lay of the land, so to speak, and he broke off a rock sample and inspected it with his magnifier.
This is the point where you might ask, “What do these types of contracts typically look like and how are they negotiated?” Well, that is the topic of this month’s article.