The Boulder Cobalt Property is a highly desirable mining property located in the Tobacco Root Mountains of Montana. The mine commodities are gold, cobalt and some silver and copper.
There is good access to the mines during summer and fall when roads are dry. The access can be compromised with wet conditions and/or snow. This is due to steep inclines, narrow roads and some obstacles.
The Mines are located at a high elevation in a small mountain basin. The location and elevation has challenged the logistical abilities of many smaller mining companies in the past (1880-1970) and resulted in very high costs in mining the property. With current technology it is much easier to ship ore out in bulk.
The mines have produced gold in average values of 2.14 ounces per ton in native deposits, as well as cobalt, silver and copper. Cobalt for the most part has been largely discarded over the years as its value, versus gold, was quite a bit less.
The property consists of a large, incline shaft and headframe which is currently filled with water at the same level as the nearby “Upper Boulder Lake”. The shaft has been estimated at 100-120’ with assumed drift levels that are undefined and not mapped. Total workings are estimated at 2000’ of development, based on sizes of waste dump material. This figure has not been physically confirmed.
There are also at least 5 adits on the claims as reported by USGS surveyors in the early 1980s. These adits were reported as 100’ each with the exception of the “main adit”, which is reported to be slightly over 1000’. Surveyors in 2015 and 2016 were only able to locate two of these adits during the time that was spent on site. Snow was present during both surveys which may account for the old portals being obscured.
Upper Boulder Lake runs down to lower Boulder lake through the mines and development. There is black sand and some free gold in Upper Boulder Lake. This gold has been running through this creek for years and there is reported placer recoveries that have been made. For this reason, there is a placer claim in place which covers the streambeds and run off channels.
Placer will not be the primary value on the property and should only be seen as ancillary profits. The primary value will be in the lode development.
There are also remnants of three buildings on the property. Near the lake shore is a large foundation that is thought to have been a workshop. Farther back in the valley is an old boarding house which is estimated to have housed at least 8 miners at any given time. Finally, a “mine boss” cabin is set back from the mine and is currently being utilized as an occasional “warming hut” for hunters, snow mobilers and the like.
These buildings could be utilized and improved in support of the mining operation with a proper Notice of Operation file.
It is reported that the area is moderate to high potential for precious metal resources with low sulphides:
The Boulder Lakes area displays moderate to high mineral resource potential for precious metals, especially gold, and a low to moderate potential for base-metal sulfides.
The same report stated the following about the mine:
North- to northwest-trending veins, shears, and altered areas in a steeply dipping zone at least 0.25 mi long contained disseminated to locally abundant pyrite and sporadic secondary minerals.
Siderite is locally abundant gangue. Quartz veins in the zone average 1.4 ft thick.
Twenty-seven samples: eight contained from 0.124 to 1.074 oz gold per ton, a 0.2 ft chip sample contained 2.140 oz gold per ton, three samples contained from 0.12 to 0.36 percent copper, two samples assayed 1.2 and 0.6 oz silver per ton. The property has high potential for gold resources.
The Mine has not been assessed for a commercial operation prior to this report. The property should be viewed as a viable gold mine which may start with a smaller scale but has the potential for full scale commercial development similar to other large mines in the region such as the Uncle Sam and Golden Sunlight to the north.
 O’Neill, Cather and Linne. 1982, USGS Miscellaneous Field Studies Map MR-1590-C