Replies to post #18788 on Colorado Goldfields Inc. (fka CGFI)

[troger]

Over, The data provided does just that. The output is based on a mill that has a max daily capacity of 700 tons a day. The previous gold and silver content from our ore averages .05 oz per ton gold and 10oz per ton silver.

The chart shows the varying levels of output in increments of 100 tons per day up to 700 tons. That is what to expect production wise from Toll Based milling or milling our own ore. In each case you would likely see a ramp up of tons per day until we hit our stride and full 700 ton per day production.

TR

[ficose]

There are a few factors you can use. The mill is rated for 700 tons a day. Of course, that is full speed with no problems and non-stop ore.

Search through the old PR's for the historic numbers for the mines. Core samples might give a more accurate number, but I'm not sure how that is coming since the Gold King project was nixed.

I'll see what I can dig up tonight. iPhones are good, but not great for this type of thing. Don't trade in your laptop for one.

[ficose]

OK overandout. I'll give you a little info from what I've gathered, mainly because you tend to do something with it. May not be all the analytic info you're looking for, but it might help someone out there.

First off, here's a map with the locations of the mill and mines. (Don't worry, I'll get ahold of Fearn one of these days and get Silver Wing on there.)

http://maps.google.com/maps/ms?msid=213646578274596832837.000486a7fab59ea73c1e4&msa=0&ll=37.836903,-107.633743&spn=0.195223,0.519791

King Solomon Mine - this is one of the early ones. Research on this one was pretty tough until I found out the GIS term French Boys was a good one to use. Oldie but goodie; this one shut down early and was one of two mines the french boys sold for $400,000 around 1883. (That's about $9 Mil in today's dollars. I heard metal prices have gone up since - can anyone verify?)

Here's a pic of what the mine might have looked like. If you're the one that took this pic and feel you hold the copyright I'll take it down and buy you a beer old timer.


Here's a hot PR from 1883:

La Plata Miner, Siverton Colorado, March 31, 1883, page, "RICH DEVELOPMENT ON KING SOLOMON. The Property of the French Boys Mining Company Proves a Bonanza. Mr. Theo Ressouches went up to the mines on King Solomon mountain owned by the French Boys Mining Company, last Tuesday. He brought down to Silverton one of the richest specimens of gray copper ore we have seen in the country. The ore was taken from the King Solomon and will run over 1,000 ounces in silver to the ton. There is a ten inch streak of this high grade ore which is found in the west drift on the vein about 125 feet from the surface. This rich body of mineral was struck last January by the contractors on the mine.

"There is a ten inch streak of this rich mineral and the streak has been continuous for fifty feet, and in the present face of the drift is as good as it has been at any time. The ore is equal to the very best grade of ore ever taken from the North Star mine on King Solomon. The Jura lode owned by same company shows a two foot pay streak of solid mineral in the face of the drifts. The ore in the Jura is galena and gray copper and pays well to ship. The property of this company is pronounced by disinterested parties who have visited and examined it recently, as the finest property in the country. The company will ship a large amount of ore during the coming summer, as they have a large amount of ground opened and the face of all the drifts on their mines, four in number, are in pay mineral."

The mine shut down soon after this. Remember, mines rarely go "dry". They shut down to wait for prices to go up. And either tend to get forgotten about or the owners are either too old or not inclined to know what to do with them - there are hundreds of mines in the Silverton area like this. History gets pretty hazy at times and I plan to research further on my next trip to the area.

CGI released a PR in March that had this to say:

The Company also holds a lease on the King Solomon Mine, which is located on the southern flank of King Solomon Mountain, just a few hundred yards up the mountain from the first discovery of gold in the San Juan Mountains in Little Giant Basin. Opened in 1876, the mine was in production until 1883. Historic assay results showed gold content of 0.75 - 0.9 ounces per ton.

Brooklyn - unlike the Solomon, the Brooklyn has been a workhorse over the decades and they know quite a bit about it. Here's the March PR:
http://easyir.marketwire.com/easyir/prssrel.do?easyirid=19D74C5776FFBDFD&version=live&prid=727515

Lot of good info. The company had this to say:

Colorado Goldfields' personnel have completed an extensive review of all available information concerning the exploration, past production, and the existing historic resource estimate (14,535 oz. gold at $1,400/oz., $20.4 million) of the project area, and have developed a specific and dynamic strategy for exploration.

The existing historic resource estimate for the Brooklyn Vein offers Colorado Goldfields a prime opportunity to develop a near-term minable reserve through confirmation and step-out diamond drilling. The expected resource blocks are located below the Number 2 Level of the mine and occur as down-dip extensions of known ore shoots. Most importantly, these ore shoots are open at depth and the continuity of mineralization is indicated by historic ore grade (0.10 to 2.13 ounces per ton of gold) drill intercepts over composite 4 foot mine widths.

The Brooklyn has hundreds of acres, many of which have probably never had a exploratory drill to see what was down there.



How much of this have I verified? Not much. Like I said, I plan on checking these and the Silver Wing out on my next trip out. I have to say I was a little skeptical before my trip out last year to check out the mill - that trip exceeded all expectations. I don't expect the mines to hold too many surprises either.