The Ruby is one of California's best-known buried placer mines, and is considered by many to be one of the largest producing river channel mines of modern times. It features a system of gold-bearing Tertiary channels which have been reported to have already produced over 250,000 ounces of gold. The Ruby is also renowned for its production of coarse and jewelers-grade gold, with the largest gold nugget weighing 201 ounces or 17 pounds. It is conservatively estimated that 134,844 ounces of gold are available for near-term recovery from identified channels using the existing Ruby infrastructure. Placer refers to mining the buried watercourse river bed at Ruby.
There are 3.5 miles of river channels yet to be mined on the Ruby mining claims. Historically the channels have produced up to 106,000 oz per mile, indicating a potential of 370,000 oz of gold still to be mined from the buried placer.
Near term gold recovery 134844oz 134844 x $1747/oz = $235 million dollars Potential gold estimates 370000oz 370000 x $1747/oz = $646 million dollars
Update on May 4, 2021 https://twitter.com/DiscoverDSCR/status/1389602793120432135?s=20 $DSCR - The company is pleased to announce it has completed the meeting with the geologist at The Ruby Mine. We had an extremely successful trip and will be tweeting more images from our meeting.
