The French Corral Mine is located just 20 minutes from Grass Valley, California in Nevada County which is the highest gold producing county in the State. It consists of 400 Patented acres and is Permitted.
The owners of the French Corral mine are offering 20% as a net equity joint venture partnership for a $2 million USD working capital investment.
Or they would consider an outright sale of mine for $8.5 million USD which would include the Plant (see pictures) and the following major equipment:
Komatsu PC1000 excavator
The 400 acre patented land is perfect for subdividing into ranches after reclamation.
The historic French Corral mine is a 400 acre patented property was partially hydraulically mined through the late 1800’s until this mining method was banned. Production to that point was estimated at 200,000 ounces (California Division of Mines Bulletin 193). The mine was never finished and worked only sporadically since. A major channel of the Tertiary Yuba River runs the length of the property with the northern half mile (Phase 2 35 acres) being unworked virgin gravels. The channel averages 600 feet wide and up to 150 feet deep. Historically all mines in this area of the channel average .012 ounces per ton of recoverable gold (.008 oz per cu/yd) with the lower levels near bedrock being very rich. Large lake on property provides plenty of water.
The owners satisfied all current California permit requirements and installed a $1.5 million pilot plant. They then began limited Phase 1 production in late 2014 where the hydraulic miners left off. By September of 2015 they had produced over 250 ounces from upper gravels with intermittent plant running time and only one haul truck and excavator. The recovery proved the same as historical averages in the district.
They estimate the Phase 2 reserves to be in excess of 30,000 ounces, and if the remaining gravels in Phase 1 and other unworked areas of the property are added, the total gold reserves are estimated at over 65,000 ounces.
Proceeds from this capital raise will be used to purchase reliable rolling stock, add a second recovery jig to the plant, add a tailings sand screw and amend the reclamation plan to satisfy permit requirements for the Phase 2 area.
The owners are offering a 20% net equity JV limited partnership for $2 million or will consider a an outright sale of the 400 acre patented land and the pilot plant and equipment making this a Turn Key Gold mine for $8.5 million.
If you would like more information
please email us
and ask about the
Historic French Corral Mine #L2020
fax 208 265 5377