Front pg news: Old Mines Reopen in a Revival of California’s Gold Rush
Whoaaa, this confirms what Jim Atkinson, geologist, has been saying. Gold EXISTS. The technology and the math now make sense.
http://www.nytimes.com/2011/02/11/us/11gold.html?_r=1&hp
Old Mines Reopen in a Revival of California’s Gold Rush
Excerpt:
“People say the Mother Lode’s mined out,” said Mr. Cochrane, a vice president with Sutter Gold Mining Inc., based in Colorado. “But that’s not the case.”
Indeed, Sutter Gold is just one of several companies seeking to reignite a long-dormant industry in California, a state whose early history and growth were intimately intertwined with gold’s discovery, excavation and exploitation.
Most of California’s large mines closed after World War II as price controls made the business model unappealing. But with controls gone, and gold now selling at more than $1,300 an ounce, the math makes sense again.
Sutter Gold estimates that there could be $800 million in ore under the 3.6 mile stretch it owns in the Mother Lode. And with most of about three dozen local, state, and federal permits already in hand, its new Lincoln Mine could be producing gold as early as next year.
But Sutter Gold will not be the first to get back in the game in California. In addition to the Briggs Mine, which last year produced some 25,000 ounces of gold — or about $30 million worth — there is the Mesquite Mine, in Imperial County on the Mexican border, which reopened in 2008. In 2010, that mine outstripped company estimates to produce nearly 170,000 ounces of gold.