The Drilled California Gold Mine is a high-grade gold property located near Downieville, California in one of the richest districts of the California Mother Load. The claim block sits directly adjacent and upstream from the world famous Ruby Mine. The property totals 120 acres, consisting of six unpatented 20 acre claims. It can be accessed via a county maintained road approximately seven months out of the year without snow removal.
The mineral deposit consists of an ancient underground gravel deposit with both primary pre-volcanic and secondary lava capped tertiary river channels, and lode gold deposits in the shoo-fly structure, as well as high grade gold bearing quartz veins.
The claim block is located directly adjacent to the Ruby mine, famous for its large coarse nuggets (see photo). A number of large nuggets have been found at the this mine, including one weighing in at over 90 oz. Drill results from the 1990’s indicate a lode zone which assayed at .111oz/ton for 15’ wide. Further testing discovered an unknown gravel channel approximately 20’ deep. This property is on the East edge of the Melones Fault Zone (California Mother Lode) and on trend with some of the richest mines in California. It contains at least three gravel channels and several lode deposits, which all carry gold. It was determined while working underground in the Lawry shaft at the Ruby that the larger coarse gold was coming from upstream at the location of this Drilled California Gold Mine.
Kennecott performed a limited drill program on the property in 1990. Based on their drill results, the Kennecott geologists estimated that the property contains between 150,000 - 200,000 oz. of lode gold ($260MM at $1300/oz.). This estimate was for the lode deposit only. The extensive placer channels on the property are known to be extremely rich and have barely been mined.
A new USFS Plan of Operations was approved in 2016 and a reclamation bond has been posted allowing for site work to begin immediatelyA new USFS Plan of Operations was approved in 2016 and a reclamation bond has been posted allowing for site work to begin immediatelyThe property has a pole barn set up for equipment, generator and air compressor storage. The underground utilities are still in place as is a water supply pond. Very little rehab work is anticipated, and production could commence almost immediately. The seller has signed a LOI with North Bay Resources Inc., the owner of the Ruby mine to utilize its mill on the adjacent property. This property is expected to generate almost immediate positive cash flow upon commencement of operations.
This is an actual mine that could be operating almost immediately. Similar high grade, near term production mines are selling for several million dollars. A buyer could pick up this valuable property at a fraction of the price of comparable properties. Seller is asking $3 millionand will finance with reasonable down payment.
Note: Photo shown is of nuggets from adjacent Ruby Mine and not this mine. You can learn more about the area and the adjacent Ruby Mine at North Bay Resources Inc.'s website. Contact seller for more information
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Drilled California Gold Mine#L1870
fax 208 265 5377