Idaho gold miner: Although the U.S. dollar is one of the world’s most important reserve currencies, when the value of the dollar falls against other currencies as it did between 1998 and 2008, this often prompts people to flock to the security of gold, which raises gold prices . The price of gold nearly tripled between 1998 and 2008, reaching the $1,000-an-ounce milestone in early 2008 and nearly doubling between 2008 and 2012, hitting around the $1800-$1900 mark. The decline in the U.S. dollar occurred for a number of reasons, including the country’s large budget and trade deficits and a large increase in the money supply.
Extraction from surface is permitted and test mining is planned to begin immediately. Material will be stockpiled and then processed once a mill is purchased. Toll mining is another potential near-term option. This should generate significant cash flow which is intended to finance the development and exploration of the existing workings.The plan is to extract gold mineralization at a rate of 150 tpdby the end of 2020.
The Mary K mine was first staked on Jan 11908 by Maxwell and Williams.They sunk two shafts and dug cuts along the vein for 3,000 feet.Richard Kleesattel, a mining engineer, picked the mine up in 1915 and began expanding the underground workings.Between 1929 and 1942 Mr. Kleesatteldeveloped at least 2,400 feet of underground workings.The longest is the #4 Level, or Main Access, which is over 2,000 ft long,1,100 ft of it were in high-grade gold mineralization. Read more information on Idaho gold producer.
The Elk City area sits in a metamorphic complex that is adjacent to the Idaho Batholith. All the large veins trend east-west and are anywhere from 500 to 3,000 feet long.They are en-echelon, meaning they look like rungs of a ladder when looking from above. While the company believes the historical sampling data shown in the map is reliable, readers are cautioned that a qualified person has not completed sufficient work to be able to verify the historical information and therefore the information should not be relied upon.
The company plans to develop and test-mine the historical high-grade Mary K mine in Idaho. Bond Resources has signed an L.O.I with the owners of the mineral leases and 450 acre property. Conditions of the underground workings are currently unknown, but additional development and/or rehabilitation is considered straight forward. Elk City is located 33 miles ESE of Grangeville, Idaho. It is the closest town. Elk City is accessed by a well maintained two lane highway (Hwy 14), which follows the south fork of the Clearwater River.
Mr. Carrabba is a mining executive with over 42 years of management and operational experience in the resource industry. He has served on boards of several listed companies including Newmont Mining, Key Bank, Lithium-X and Fura Gems. Mr. Carrabba is currently an active board member on NYSE-listed Timken Steel as well as TSX-listed AECON and NioCorp. See extra info at https://bondresources.ca/.