The COD property is a large, commercial scale mining operation not suitable for small mining operations. The property covers 200 acres and includes the Rico and Moon Mining property which exist along the COD vein as defined in the documentation. Descriptions of the property will include the workings of the Rico, Moon, and COD.
The COD mining claim is located 12 miles northwest of Kingman Arizona in the Stockton Hill Mining District which is a subdistrict of the Wallapai (Hualapai District). This district is known for the production of gold, silver, lead and, copper. Gold is found in with silver and some sulphides in shallow workings. Deeper workings find gold in a native form. The silver in the area has been seen in the forms of native silver, cerargyrite, argentite, and Ruby Silver
The claim is accessible by way of steep 4WD dirt road. The road is in mostly good repair with some technical areas that will require high clearance and 4WD. The road is an easy source for water runoff and may require repair after large runoffs and monsoons.
Water is abundant on the property by way of the mine workings. The mine has previously operated successfully by pumping water from the workings. The current water level is visible 100-120’ below the main shaft collar and is thought to fluctuate with seasons and rainfall.
The C.O.D. mine was originally discovered in the mid-1800s and has suffered from mismanagement and runoff over the course of its extensive history. The mine has been mothballed multiple times due to fluctuating metals pricing.
In most recent history it was reported that the claim has 89,900 tons of proven reserves, 180,000 tons of Probable reserves and 2,500,000 tons of inferred reserves. The ore grade on the reserves is 0.217 oz/ton of gold and 13.85 oz/ton of silver. These valuations in today’s gold and silver prices put the value of the proven reserves worth $45,559,225.00, probable reserves worth $86,220,000.00 and the inferred reserves worth $1,197,500,500.00. All these values do not account for the 70,000 tons of waste dump and 15,000 tons of tailings that could be reprocessed for profit. With proper management and upkeep of the mine, the C.O.D Property will be a major producing mining operation.
The Moon Mine is west of the COD Mine but on the same established COD vein. The mine is reported to be small, a 96’ shaft that meets with the 300’ and 400’ levels of the COD workings. Today it appears as a small shaft on the north side of the road heading west to the Rico Mine. There is a small waste dump on the south side of the road that shows some pyrite, iron, and quartz.
The Rico Mine is on the western edge of the COD claims. The mine had surface mercury recovery which quickly worked out into gold and silver deposits. The Rico vein is well defined and recognized and runs N 85° W for over a mile. The vein averages a width of 6’ and is largely quartz containing gold and silver in shoots and lenses from 1-7’ in width. The narrow shoots historically are extremely rich and considered high grade, while the wide shoots are more dispersed ore, ideal for milling and concentration.
Ores from the 200’ level on the Rico averaged 2oz AU and 160oz AG. These higher value ores contain some chalcopyrite and bornite in milk-white quartz with sphalerite.
It is reported that the ores at the Rico from the surface to 150’ are largely oxidized, whereas the vein below the 200’ mark is largely unoxidized and contain gold, horn silver, and cerrusite.
The main shaft on the Rico is clear as of the writing of this document. This is as far as is visible. It is assumed there is water in the shaft that will need to be drained prior to further working or development.
The Rico and COD veins are closely intermingled and may, in fact, be part of a single massive lode. As such, the Apex of the veins, either the COD or the Rico, have been noted and are captured on the mining claims in this group.