The DSCR gold and silver mining operations about to begin at War Eagle Mountain offer very great promise and should boost the company value here substantially as work goes forward.
From the news:
War Eagle Mountain is a proven historic gold and silver resource located within the Silver City Mining District in Owyhee County, Idaho. The Oro Fino Vein was discovered in 1862 and extends approximately 12,500 feet in length and 2,000 feet in depth producing about 415,000 ounces of gold through 1875. During the fall and winter of 1874 the owners of the Golden Chariot mine completely refurbished the shaft and mill equipment, effectively "betting the ranch" on the secure knowledge that the Oro Fino Vein continued uninterrupted for a considerable distance and that approximately 85 % of the "known" and "mapped" veins had not yet been mined. By the end of 1875 a total of ten shafts had been sunk on the vein ranging in depth from 300 feet to 1250 . At the height of the mining boom on the Oro Fino Vein, there was a nationwide depression with Bank collapses and the source of working capital for the mines dried up. During the winter of 1875-1876 the shafts filled with water to a point that the Golden Chariot Shaft contained 1100 feet of standing water. In 1904 the American Smelter Corporation drove the Sinker tunnel to drain the mine, however production mining never commenced before the tunnel entrance was covered in a landslide. This cloistered condition has existed for the past 140 years, which has resulted in the preservation of this historical vein system without it being disturbed by intruders or miners. The Sinker Tunnel was rediscovered in 1994 and current ownership has been assembling the patented claims for years finally bringing the Sinker Tunnel, Patented Claims and a modern Mill under common control to allow mining operations to resume. The early mining at this historic resource was accomplished primarily with picks and shovels and a few pounds of black powder. Now with modern equipment and techniques the DSCR JV will seek to mine the balance of the War Eagle Mountain hydrothermal deposits. Mining will include the Oro Fino, Poorman and Central vein systems.
