Milk Creek Placer

Milk Creek Placer

 
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Milk Creek Placer

Location

Location
Prescott, Arizona (35 Miles South)

Resources

Resources
Proven & Probable: 704,611 ounces of gold

Precious Metals

Precious metals
Gold

Land

Land
160 acres unpatented BLM Placer Claims

Asking Price

Asking price
$1,500,000

Status

Status
Testing. Startup estimated in 12-18 months

The property contains both streambed and very old hi-bar gold-bearing gravel deposits within approximately 310 acres of unpatented placer mining claims.

Location: The Milk Creek place property consists of 4 unpatented placer mining claims, located in the Yavapai County, approximately 35 miles south of Prescott, Arizona. The site is on federal lands managed by the US Forest Service, and is easily accessible with well-maintained roads. The area is temperate to desert climate allowing for year around access and production. The site also has a year around spring and flowing surface water much of the year, a rarity in Arizona. 

Gold Resource: The claims have been tested by a number of independent geologists and mining engineers. Compiling the results of the various testing programs shows an estimated gold resource of 12, 000,000 cubic yards of gravel. 

Documentation regarding the various testing programs is available for review. A valuation of the gold resource must be completed by interested parties by reviewing the available independent historical exploration data, and independent due diligence testing. 

Proven & Probable: 704,611 ounces of gold.  Valuation: US $845,533,200 @ $1,200 per ounce

Production Analysis: The average ore tenor is indicated to be approximately 0.04 oz per yard, and the average recoverable ore tenor is 0.034 oz per yard. Recoverable ore value is $47 per yard at $1400 per ounce. Average mining costs are estimated to be $7 per yard, leaving an average net profit of $40 per yard. 

At 150 yards per hour, the operation should yield a net profit $48,000 per 8 hour shift. Working 24 days per month should yield a net profit of $1,152,000 per month. Assuming about 11 months of actual operation, the annual net profit will be approximately $12,672,000 per year. 

History: No commercial mining has been performed on the claims, with mining being limited to old timers, small hand operations and weekend dredging. This property was not viable for commercial production based on historical gold prices until the recent run up from the 1998 lows. At the current price of gold, these are valuable claims with a potential for easy processing and high returns. Testing has determined that there are commercially viable gold values both in stream beds and in hi-bar deposits. 

Permitting: Permits for the unpatented claims will be obtained from the agency managing the surface. A required Plan of Operations will be prepared, and the NEPA analysis performed. All permitting activities should be led by an aggressive and experienced professional engineering and permitting team. There are no anticipated impediments to permitting. Estimated time to start up is 12-18 months.

 

GEOLOGICAL REPORTS AND INFO

Click here to access important information and reports on the Milk Creek Placer Mine

INFORMATION

 

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Contact info

Century 21 Bright Horizons
877-646-3468
1(800) 421-2154
West Covina, CA
info@minesinvest.com

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