We define the Reserves on the property, both inferred and defined. Once we have this number, we price the property at 0.1% of the defined reserves. Realizing there are costs to the development of the site, we only require a small fraction of what is available. Read more
Absolutely, but we do require a deposit in the amount of 20% of the claim purchase price. Once we recieve your 20% down you will be allowed 90 days to complete your due diligence of the mining claim.
We have discontinued any outside sales as of 2019, therefore we no longer sale claims on consignment.
Gold Rush Expeditions, Inc.® can accept credit/debit cards for monthly payments, deposits and down payments for a maximum amount of $1,000.00. For full payment of a purchase, we can only accept Business Checks, Personal Checks, Wire Transfers, Money Orders, Cashier’s Checks or other certified funds. Please be aware that mining claims are considered real property, and as such, the payments must be secured. We do take cash if delivered in person to our main office. Gold Rush Expeditions, Inc. also accepts certified (stamped) silver and gold bullion for payment. Spot Pricing determines the value given for silver and gold. This fluctuates throughout the weeks and can be tracked on websites such as Kitco.com. Spot pricing is defined at the time of acceptance at the GRE offices.
You will receive a Gold Rush Expeditions, Inc.® Welcome Packet which contains your Quit Claim deed, showing a transfer of ownership of the claim. In addition, you will receive a copy of all of the associated paperwork, images and documentation of the claim. You can expect to receive a Welcome packet within 14 days of full payment and all contracts signed.
Mining Claims are limited in ownership by US Citizenship. Any US Citizen can own a mining claim. Additionally, any US based company can take ownership of mining claims. In the case of international companies, those companies must be approved to do business in the United States.
The minimum down payment is 20% of the cost of the mining property. More about financing.
Mining Claim Financing is offered at a rate of 9% APR (annual percentage rate). Financing is limited to one (1) buyer for one (1) site (in the case of multiple claims on a single site) at any given time. More about financing.
An unpatented lode claim gives the claimant complete ownership of all minerals and gems located within the confines of the mining claim. Lode Mining Claims give ownership of minerals that are located in their original location or amalgamated in a host rock. Placer Mining Claims give ownership of valuable minerals or gems that have been displaced from their original lodes and can be found in gravels or riverbeds. Placer claims usually apply to the topmost 18 inches of gravel or sands. All unpatented mineral claim rights are subject to annual renewal.
Ownership of a mining claim, either placer or lode does not convey or imply ownership or interest in any BUILDINGS, MACHINERY or other EQUIPMENT that is found within the boundaries of the claim. In the case of many mining claims, it is possible to take control of the buildings, machinery or other items by filing a Notice of Operation and utilizing the items in conjunction with or to promote your mineral extraction operation.
When in doubt, please inquire. Gold Rush Expeditions, Inc. ® has years of experience and we can provide answers to any questions that may arise.
All mining claims must be renewed each year with the appropriate county and Bureau of Land Management. This can be accomplished by filing a small miners waiver or paying the annual assessment fee to the Bureau of Land Management.
We can help you file your annual assessments. Click here to contact us regarding your annual assessments.
Gold Rush Expeditions, Inc.® is very particular about who we work with. For this reason, we only make recommendations we can stand behind. Global Mining Equipment is an all American provider of all your mining equipment or needs. If you need it, Global has it
As far as you want, as long as you don’t breach the surface.
On rare occasion, there are public utilities near or on the property. If public utilities are present you can contact the utility company for set up requirements.
It may come as a surprise, but most mines were not abandoned due to lack of production or minerals. There are many reasons that mines were abandoned. The most common are related to regulation and are as follows:
Since the repeal of the War Act in 1945, Mining activity decreased over 900%. These mines were left abandoned because people died or were no longer able to work their mines. Many more people held their mining claims while they worked their city jobs from 9-5, all the while, promising to return to mining at some point. Most never did, and when they died, or stopped paying on their claims, they were considered abandoned.
Indefinitely, provided that the annual assessment payments are kept current. Gold Rush Expeditions, Inc. ® can help with your annual assessments. Request annual assessment assistance.
There is no limit to the number of claims you can own.
No, not at this time. There is currently a moratorium on patenting mining claims.
You usually have 30 days from receipt of the letter to respond. If you do not respond in that time frame you may lose your rights. What you need to do depends on what the letter says. Gold Rush Expeditions, Inc.® can assist you in responding to these notices. If you require assistance with a BLM or FS issue, please call our offices at 385-218-2138 or email us at email@example.com to see how we can help.
Yes, but only with an approved Notice of Operation. Your building will need to be in direct support of your mining operation.
Gold Rush Expeditions, Inc.® recommends Kitco. Visit them at Kitco.com.
You can’t “live” on your claim, but you can prospect and mine it. Residency not reasonably incident to mining is not allowed.
It depends on the level of development you do. Permits are based on the amount of degradation done to the site. You will be issued a bond in the amount that is determined based on what will be required to restore the site when your operations are complete.
No. You must pay for your site in full before you can begin to work it. You can visit and sample and conduct casual use operations while under contract.
Due diligence is the act of verifying mineral content and property valuation. Buyers receive 120 days to execute due diligence once they initiate a purchase.