Unlike producing mines, exploration companies and claim holders owning non-producing claims are not reaping a windfall of increased profits from the recent high prices for precious metals and other raw materials.
While the current mine plans forecast an end of mining in about 2019, Bingham Canyons’ future remains bright. Company officials are looking at an expansion that, if approved, will extend the mine life until about 2036.
The mining district is more than 110 years old, but the two recreational mining areas are new. The State of Alaska designated the Petersville Recreational Mining Area within the past year and the Alaska Gold Mining Camp is not much older, so you can expect to find some unmined ground!
This sampling program was painfully tedious, and I’ve still got the calluses and embedded shovel splinters to prove it. But completing that testing program validated certain areas of the creek and eliminated others.
It’s important to pay attention to where you dig, because just like any placer, the gold in dry placers is concentrated in certain spots. This is especially true when you are testing and trying to determine the potential of a placer area.
Few young people growing up today realize the fact that for the majority of its existence, the United States of America was a creditor nation, not a debtor nation. Other countries were indebted to America, not the other way around. However, that began to change...