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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: AlphaRomero who wrote (66935)	8/31/2009 12:11:44 AM
From: E. Charters	Read Replies (1) \| Respond to of 78418

The joke is people with scams can figure. We saw that in Bre-X. DeGuzman and Felderhof had PhD's and worked on the OK Tedi deposit. Their news releases from far before Kalimantan were very good. Well written. Geologese was quite attractive. I held the stock at 16 cents. 300 milligrams is adequate grade for a large scale placer. It is about $9.00 gold per cubic metre. Cost in a large dredging outfit, running 25,000 cubic yards per day would not exceed a dollar per cubic yard. So it's mostly profit. A very good grade would be between 0.5 grams and 1 gram per cubic metre. At this grade today at scale it is a license to print money. The Guggenheims in the 1890's ran at 50 to 75 cents per cubic yard in their very large dredging operations in the Yukon and Alaska. Gold was $20.67 back them so the grade was about 0.75 to 1.12 gram per cubic yard. Conditions were much harsher and the season was short, perhaps 5 months. For the record, the Guggenheims, of New York Museum and Butte copper mining fame, made money. A tad I have heard. Today gold has increased more than 2.0 times in price relative to that era, which had fairly high costs. Inflation risen 22.08 times since then but gold closer to 46 times. Placers in Russia and Bolivia today run comfortably at 200 mgs per cubic metre. That isn't the problem. Peru has lots of placer gold in terraces, in steep mountain terrane and in valleys. The Queychua's native's chief source of gold there was placer as they could not tunnel effectively. They mined in terraces on mountain sides at 60 degree average grade! They cut steps into the mt. side making a waterfall sluice and carried material in gunny sacks to the stream and the con down the mt. side. Then they took their con and put it in earthenware vats with three salts they mined on the Nazca plain, that formed aqua regia in solution. For five days they would stir the pot with wooden paddles and the gold would go into solution as a chloride. Then they would lime the pot to 7 Ph, bring the solution to a boil and dump cleaned scratched copper into the pot in baskets. The gold would plate out on the copper scratches in a few hours. They then scraped the copper of the gold and smelted it in muffle type clay beehive kilns which could reac 2100 degrees farenheit. They could also replate the gold and silver together on copper anew with the same process repeated, a feat which would take until 1980 for modern science to figure out. In this manner the whole population under the Inca rulers would work in the goldfields, some 6 million workers for 3 months a year. books.google.ca The rest of the year the pre Columbians would work alternately in agriculture, road and bridge building and other civic work. Their gold mining and road empire spanned from Guyana to Tierra del Feugo. Their best mines were in Columbia and this country attracted the Spanish too, who operated more than 400 underground gold mines there with Indian slaves. The Spanish of course could use steel drills, and black powder dynamite to tunnel. They also ground the rock with primitive, fairly heavy stone mills called pillow blocks, yoke seesaws and Arrastras, where stones were used as rockers, pounders or were dragged in a circle by mules. Arrastras and pounders have been used since 500 BC. The Spanish also used a Maza, a mortar box mill, which could be run by a mule or water wheel. This device had a wooden rod running off a wooden lifting lever or cam, attached to a stone pounder that was lifted and dropped within a stone housing. They are capable of grinding several tons of ore per day per stamp to below 100 mesh, sufficient for liberation of silver or gold from much pyrite or quartz ore. (Made from steel they would later be called stamp mills.) By the 1500's in Mexico these could be quite involved constructions, using several stone stamps. Their construction was supposed to have evolved in Saxony in the middle ages. The Spanish used mercury to recover their gold, and their recovery was not as complete as the Queychua who could tackle the refractory, pyrite bound stuff the Spanish could not. Nevertheless the Spanish who also did a bit of placer or playa work mined an impressive amount of gold there an in the Caribbean. Some of the most valuable galleons coming from Spain contained mercury in flasks. Today some of those galleons would be worth $100,000,000 at today's prices. I don't doubt Peru has gold. I don't doubt they have sands and claims. I don't doubt that some of their side promoters as sleazy. But I do doubt that they have a resource defined which is adequate to start engineering calculations as to scale, recovery, etc... You can have a bowl Rice Krispies in the table, but if it has cockroaches in it, it begins to cool the appetite. EC<:-}