Selling Hard Rock Mining Claims


Recommended Posts

In the old days, most prospectors who searched the hills for gold were looking for both hard rock and placer deposits. Hard rock deposits were sometimes developed and worked by the individual discoverer, but larger deposits could be leased or sold to a mining company with the capital resources to work those larger deposits. In our times, small scale hard rock mining is all but dead, but the possibility remains that interesting gold claims can be leased or sold to gold mining companies. Now to do this, the hard rock prospector must find a deposit that would be interesting to a large mining company. The capital investment in this type of project is huge, so big mining companies are not interested in little veins that might contain a few thousand ounces of gold. They are interested in deposits that may contain many hundreds of thousands of ounces, preferably ones with more than one million ounces. This limits and defines what types of claims are marketable, but its still possible to find such locations. It’s just not easy. The prospector that wants to stake marketable claims is competing with the mining companies themselves, and they are armed with Phd. geologists, big exploration budgets and full staffs of trained, experienced exploration personnel. There are no dealers to help you get going, no forums full of friendly folks to help you get started. Its cut throat, secret and you are on your own – but there are folks who do this type of prospecting for a living.

Nevada is a great place to look for the types of deposits big companies are interested in, and good finds are still being made here. I’ve wanted to participate in this arena for years, but until recently prices just didn’t cause the big companies to be interested in serious exploration. Well, the price of gold and silver have changed that! Together with my father and uncle, I staked some claims in northern Nevada in 2003. It was our intent all along to market these to an exploration company, and we have recently completed the deal, and the Wind Nos. 1 – 10 claims are now in the hands of a company by the name of Fortune River.

I know I’ve found something big in these claims, but I don’t know for sure if it’s a 500,000 ounce retirement nugget or a 20 million ton hunk of leaverite! Only the drill rigs and time will tell for sure.

I’ve done up a full web page to tell the whole story of these claims, with geology maps, photos and lots of information. Check it out at:

Wind Mountain Gold Mine

The press release for the deal appeared on Kitco and can still be seen in their database at:

Fortune River Press release on Kitco

The Fortune River Corporate web site is at: http://www.fortuneriver.ca

Well, My goal for this year is to do it again – to stake some more claims, put them out for lease and complete another deal. I think I’ll be doing some more hard rock prospecting this year.

Chris

Link to comment
Share on other sites

Hi Chris. I am a long time lurker ,and have been prospecting for 12 years.Just want give a thumbs-up for the added direction you bring to nugget hunting forums in the west.I have owned a GP3500,and both gold bugs,loved the 3500,but traded her in for downpayment on my home.Went hunting with Kinny P too.

I have gone in the direction of prospecting for everything when I'm out in the field,Cobalt,lithium ,wolfram,sheelite,nuggets,platinum etc.I am an ammature assayer,and have numerous probes ,and sampling equipment.For the regulars on this forum I might add that this subject, although not widely known ,especially for making a living,is nevertheless a source of income for small prospectors. There are within the field,sub-fields like-Assayers ,Iknow a few ,and they do very well.Consultants,also do exceptionally well.Claims consultants,small field but one I talked with makes his living here.Then there are people who locate,and claim mineral deposits.This one is like a big secret within the industry or prospecting circles,and with the way large companies are in need of large low-grade deposits to keep investor money coming in,or to keep mining,and also fom the numerous anomalies I have run accross this one just maybe the best.

You may never see a nugget doing this ,but when one of the 100 samples you brought home turns up a silver bead in an assay,or gold particles,or good amounts of tungsten,the excitement is comparable.You must keep your perspective though,because now the follow-up comes.This is where you find that you need some serious expertise to follow a low grade lead.That's why I assay.Still,that is not enouph.there is alot to learn which is fun.I will likely keep my day job,and settle for the fascination of geology,and gold hunting,but claiming a worthwile low- grade deposit is not out of the question.

Question for You Chris.How do you locate a fault?How do you determine a contolling fault?Actually I am full of questions but I will just go with these two. Thanks.

Link to comment
Share on other sites

In Nevada, many faults lie at the steep front of a mountain range and can be seen on topo maps simply as a steep change in elevation where the valley block had slid down. I also use geologic maps (which is the easiest way). Many times two the coming together of two different rock types has a fault between them (unless the overlying rock is sedimentary and was deposited on top of the other).

It is controlling when a fault controls the deposition of ore. The two known bodies at Wind Mtn formed at the jusction of small NE trending faults with a larger NW trending fault. This two directional movement caused extra breaking up of the rock there, allowing gold and silver bearing fluids to circulate and deposit the ore.

Glad to hear you enjoyed the post.

Thanks,

Chris

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share