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Frequently Asked Questions

Why does Gold Rush Expeditions have mines for sale instead of working the claims themselves?

Simply put, we are not a Mining Company. In the way that a car lot sells a car instead of driving it themselves. Gold Rush Expeditions, Inc. locates valuable mining  properties and then sells the mining claims to clients who are ready to develop the mine. We do the research and legwork to validate the property for you. The mission of Gold Rush Expeditions, Inc is not to mine, but to locate for others. Or… “We find ’em, You mine ’em!”

How does Gold Rush Expeditions, Inc. determine the price for each claim?

We define the Reserves on the property, both inferred and defined. Once we have this number, we price the property at 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.

Can I look at a mine you have for sale and test some samples before I buy?

Absolutely, but we do require a completed Pre-Qualification form prior to disclosing the location of sites. Once we have determined that the site you are looking at would work for you and your budget, we will also provide you with authorization to remove up to 100 lbs of samples.

Can I sell my mining claim through Gold Rush Expeditions, Inc.?

We do offer consignment services with some stringent guidelines. This is to keep only the highest quality sites available on Gold Rush Expeditions, Inc.’s website. There are fees associated with selling your property. Please contact us for more information if you have a property to sell.

Your name is Gold Rush ``Expeditions`` Inc., does this mean you will take me on a mining expedition?

The word “Expeditions” in our name can be deceiving. Back in 2004 when the company was formed, they had full intentions of taking people on tours to see abandoned mining claims, mine camps, and just good old mining history. Unfortunately, permitting, liability and insurance policies to perform those expeditions became unbearable. However, the name was established, and so it stuck!

What payment options does Gold Rush Expeditions, Inc. accept?

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 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.

What will I get after purchasing a mining claim from Gold Rush Expeditions, Inc.?

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.

Can I change the name of my claim after purchase?

Yes. A  mining claim name can be modified, however, the name must be changed by the current owner. If you would like Gold Rush Expeditions, Inc. to provide this service for you, the process must be completed before the claim is transferred. Oth,erwise the name change will have to be initiated by you.

Who can own a mining claim?

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.

How do I qualify for financing with Gold Rush Expeditions, Inc.?

Fill out the form on our website, or contact us directly and we can send you an application. We will need to verify that you are a US Citizen along with some other details. If we feel that you can meet your obligation, you will be approved.

What is the required down payment for financing a claim with Gold Rush Expeditions, Inc.?

The minimum down payment is 10% of the cost of the mining property.

What is the interest rate for financing a claim?

Mining Claim Financing is offered at a rate of 0% APR (annual percentage rate) for the first 6 months. If the claim is not paid off within 6 months a 9% APR (annual percentage rate) will be applied to the total claim price from the date of contract execution. 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.

Are there any penalties for late payments when financing?

Payments are due on the 1st or 15th day of each month. Payments received after the due date will be subject to late fees. Please see your contract for full legal description and statements regarding late payments and default status.

What exactly am I getting with a Mineral Claim?

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.

How do I keep my claim active?

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.

I bought a claim from someone else, can Gold Rush Expeditions, Inc. verify the validity of that claim?

Yes, we can research and report on the validity of your claim for $299.00

Where can I buy equipment to mine with?

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

How far can I tunnel outside my claim boundaries?

As far as you want, as long as you don’t breach the surface.

Are there public utilities (power, water, etc.) that I can use on the claim?

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.

Where can I get raw ore processed?

Gold Rush Expeditions, Inc. recommends the Golden Sunlight Mill in Montana for processing your ore. There are also a good number of mills that can process ores in Nevada and Arizona.

Why are such valuable mines abandoned?

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:

  • The “Silver Crash” of 1891-3. Federal support for the purchase of silver and silver ores was removed in 1891. The value of silver dropped from over $1 per ounce to $0.27 per ounce in 1893, stabilizing at an average of $0.79 by the end of the year. This equated to a cut of more than 30%. (Consider the impact that losing 30% of your income tomorrow would have on your own economy.) As a result, many silver mines were mothballed while waiting for the price to rise to previous levels of $1 per ounce.
  • During WWI and WWII many left their mines to either fight in the war or help support the war effort by working in other industries.
  • In 1941, President Roosevelt made it illegal to pursue the mining of any minerals except those considered strategic. This act was known as the War Act, and its intent was to cripple the mining industry, while providing man power for WWII. 418,000 men never returned from WWII. This left their mining operations abandoned. In addition, over 300,000 were wounded, left permanently disabled and were unable to return to their mines. Many men after WWII never returned to their mines.
  • In the years after WWII, the federal government bolstered efforts to encourage people to work in the cities and offices of the nation.

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.

How long does a mining claim remain active?

Indefinitely, provided that the annual assessment payments are kept current.

How many claims can an individual own?

There is no limit to the number of claims you can own.

Can an unpatented claim be changed to a patented claim?

No, not at this time. There is currently a moratorium on patenting mining claims.

I got a letter/notice from the BLM or FS, what do I do?

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 to see how we can help.

Why do people attach so much value to Gold?

Gold is one of the rarest elements on the planet earth. It has been used as currency and for trade since the dawn of recorded history. It is a solid, tangible asset that can be used to purchase, barter or trade for most any item.

Can I build a cabin or other structure on my claim?

Yes, but only with an approved Notice of Operation. Your building will need to be in direct support of your mining operation.

What does gold look like in its native form/in the host rock?

The appearance of gold is dependent on how it is formed. Native gold, in a good mine, will look exactly like what it is. Gold. Gold is soft. It can be “dented” with the tip of a knife or other hard object. Gold is also globulus, meaning it is not crystalline, it will not have hard edges, or any crystal formations. Native Gold is also called “Free Gold”, or “Free Milling Gold”, this  refers to gold that can be crushed and panned out. By crushing the rock, you will break the gold out of it. It can then be panned out with water or other chemicals.

Gold can also be microscopic and invisible to the naked eye. Unless you are planning a pit mine processing thousands of tons per day, microscopic gold is as good as no gold. Gold often runs with quartz. Gold also alloys with metals such as copper, iron and silver. An old miner adage is that you always want to be on the look out for one of the 4 metals, which always occur together, those being: Gold, Silver, Copper and Platinum. The concentrations may vary, but this is a very accurate statement.

How does gold differ from pyrite?

Pyrite is a derivative of iron. Pyrite often occurs in gold lodes. Old Spanish prospectors lived by the motto: “Gold rides an iron horse”. Meaning that where you find heavy concentrations of iron, you will find gold.   If you find something that you think is gold. Use the knife method to verify. Gold is malleable, it will feel soft. You can gouge it with a knife but it will not scratch. Pyrite, on the other hand, is a more crystalline formation and is very hard. If you scratch it with a knife, the surface will mar and become defaced. Gold and pyrite differ slightly in color, shape, hardness, odor, and malleability. It’s not difficult to tell the two apart once you have seen them side by side. Gold also forms in and with pyrite, in a form known as auriferous pyrite.

Where can I find the current price on Gold/Silver?

Gold Rush Expeditions, Inc. recommends Kitco. Visit them at Kitco.com.

Can I live on my claim?

You can’t “live” on your claim, but you can prospect and mine it. Residency not reasonably incident to mining is not allowed.

Can Gold Rush Expeditions, Inc. provide help to those new to mining?

There is a lot of information that we can help the beginning miner with. This from permitting to logistics and processing. If you need help, give us a call (385-218-2138) or email goldrush@goldrushexpeditions.com, let us know what you need and we can help you put it together. There are also volumes of information available on mining basics in the form of old mining books. For a list a recommended books please contact our offices.