The Flag mineral property has also been interchangeably called the American Flag Mine throughout the mine’s history. The Flag mine was the most productive gold and silver producer in the Maynard Mining District.
Originally discovered in 1872 and worked until the 1930s. During this time the mine produced $2,500,000 of silver and gold. In the 1980s the mine was core drilled when the owner of the property offered the mine up for lease. A Canadian company did take the lease option in 1985 of the Flag mine and began raising money to begin mining the Flag again.
Efforts to re-open were not realized when the pricing of gold and silver remained near record lows in the 1980s and early 1990s.
According to historical records and mapping, the mine has over 2000 feet of drifts on 5 different levels and is 250 feet in vertical distance. There are 2 large waste dumps on the claim at the upper portals. A small mill was on site at one point in time which left about 300 tons of tailings.
When the claim was up for lease in the 1980s, drilling was completed in the stopes and it was determined that there are 19,540 tons of reserves. The samples taken at this time averaged 0.16 OPT Au and 9 OPT Ag. Based on this data the Reserves in the mine alone are worth $10,930,000.00 as of August of 2020.
During the drilling and sampling that took place in 1984, it was estimated that total exploration and development costs would be around $60,000.00. In order to make a profit the mine would need to produce at least $150/ton. In the high-grade ore shoots the ore estimated to be worth $600 per ton and well exceeded the amount to make the mining operations profitable at that time.
Unfortunately, the company in charge of the development was unable to raise the required funds to start up and develop. They held the property for a number of years until 1996 according to AZGS records. At this time the property was sold to a Canadian mining firm for $475,000.00
Today the access to the haulage tunnel is on an easy county maintained 2WD dirt road. In 1986 roads to the upper workings were rebuilt but they have since been overgrown. You can see where the old roads were and with some rehabilitation, you could have roads to the upper workings again.
Today the haulage tunnel is grated and has about 1 foot of water at the base. The water could be used for mining operations. Historically the water from the mine and from a small spring was used for the small mill that was used for a short period of time. All that remains of the mill are a few foundations below the haulage tunnel.
Gold and silver were the main minerals found in the flag mine. Silver was seen in the forms of Ruby Silver, Galena, and sphalerite.
The only parking and staging available on the claim are a few small turnouts onto the tailings pile and in front of the haulage tunnel.