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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Karl Siemens who wrote (80963)	1/20/2002 10:35:32 PM
From: E. Charters	Respond to of 116936

The ROM owns one of the largest and best mineral collections in the world. They display little incentive to show it but you could ask them about it. There may be some kind of show coming up that I am not aware of. The Nugget was from a mine in Munro Township that briefly ran with the highest grade of any Canadian Gold mine. The two largest highest grade mines were the Leitch Gold Mine in Beardmore, and the Discovery mine in the NWT. They both ran with a grade of one ounce per ton for 1,000,000 tons of ore mined. Both ran up until about 1970. The Hollinger mine in Timmins ran with a grade of 0.40 ounces per ton for 50,000,000 tons being North America's second most productive Gold mine. (Most profitable does not always mean highest grade. I guess you could make more money with a lower grade but the Hollinger is one of the highest grade large mines. Kerr Addison and Campbell Red Lake often ran at grades above .40 ounce per ton.) The grand daddy of them all is Goldstrike Nevada. It was a mesothermal deposit that ran at 700.0 (seven hundred) ounces per ton for the first 6 months or so of mining. When the mine petered out to a mere 50.0 (Fifty) ounces per ton at depth, it was abandoned. Later when American Barrick went into restart the property as an open pit mine, the Betze, it proved to have to highest grade of any open pit ever. At 0.30 ounces per ton it was a no-brainer. A friend of mine, a geologist named Ken Darke had tried to interest people in that area since 1965. There was one mine that ran during the war in Canada called the Sachigo Lake Mine although it was not on Sachigo Lake. Its grade was 3.0 ounces per ton. I think it ran for 16,000 tons but I may be wrong. It stopped during the war because of materials shortages to pump water, as it was an extremely wet mine. This information came from the former manager whom I talked to. The Sultana Mine used to produce 95% of Ontario's gold in 1895. IT ran until 1945. It had an interesting as hell history and I talked to the former manager in 1975 I believe. He was of the opinion that it could operate again. I have run into a few more that had management faith. But alas, finding gold is not the problem. There are several good old properties that could go again. It is hard to validate them without money and getting a hold of the property. It would behoove interested parties to think about forming a company to do this. Unfortunately there are few believers out there who will sit still for management to get enough money to reinvestigate old properties to actually make mines out of them. Penna and the Agnico Eagle were among the few to successfully carry off this feat. But he had every Jew in Toronto on his trap line. A bit of an advantage when you go to the right synagogue. EC<:-}