Oct 16, 2012: Diamonds North presses the reset button - www.MiningMarkets.ca more...Oct 04, 2012: Continuous Exploration more...Sep 18, 2012: The Value of a Historic Deposit more...
Historic deposits and mines may represent significant unrealized value. Commodity prices have increased dramatically in the last century, none more than the price of gold. In the 1920's gold was valued at $20 per ounce and today gold is valued at more than $1750 per ounce and rising, this is an 8400% increase in value. A historic mine that was profitable at only $20 an ounce would be of incredible value at today's prices. Anything that would have been considered low grade at that time would now be worth re-evaluating. Significantly advanced exploration technology and geological models can be used not only to evaluate historic discoveries but, could also be used to expand these deposits. These points put perspective on why we are interested in these historic mining areas. Washington State has not been actively explored for more than 20 years and numerous opportunities exist.
Our Alder Mine project is a prime example of why a second look at these deposits is justified. When the Alder Mine was in production in the 1950's it was primarily a base metal mine with significant gold and silver credits. At that time copper was valued at $0.24 per pound and gold was $34 per ounce. The current price of copper is $3.70 per pound while gold is more than $1750 per ounce. This significantly changes the value of the historic Alder Mine deposit and also changes the model that would have been used to develop the mine. By shifting the focus from base metals to precious metals it may be possible to identify high grade gold and silver zones that would have previously been overlooked and blended with the lower grade base metal ore. By re-evaluating the Alder Mine site and targeting high grade zones of precious metals there is the potential to identify a deposit of significant value at a relatively low cost.
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