The Keystone Gold Mine is an 80-acre lode mining claim which was established in 1870. The property and boundaries contain both the Keystone Mine and the Old Timer Mine which has not been addressed since at least 1939.
The Keystone property has documented and blocked reserves of 26,968 oz AU and 955,456 oz/AG. Valuation in today’s metals market of $58,043,152.00. There is considerably more development to be completed and geological reports and mining assessments state that the surface has only been scratched on the lode deposits.
The Keystone consists of a multi-level mine working cut on “flat vein” with multiple stopes. The mine is accessed by an open adit or via a series of shafts which have become little more than air shafts at this point. There is a well-timbered decline shaft that could serve as an emergency exit.
The mine workings are in excellent condition and the adit is cut in stable, competent rock. The rock is largely granordite type at depth with conglomerate and skarn type surface rock. It will require some clearing and shoring for safety, but was accessed in its current condition by surveyors for sampling and mapping.
There is a mill building and some tailings at the Keystone site. It appears to have been a large mill that produced very little tails, or the tails have been transported off site for further processing in the past.
East of the Keystone Mine and Mill is a mine known as the Old Timer. The Old Timer has been rolled into the assessment with the Keystone since 1940 but is, in fact, a separate mine working with a different ore set. The ores at the Old Timer are reported to be sulfide type ores at depth with good gold values.
The Old Timer Mine consisted of a large double compartment shaft and an adit thought to have been used for haulage. The Old Timer Mine has tapped a water table at approximately 225ft and the water level in the adit maintains a depth of 24-30 inches during even the driest seasons. It will need to be dewatered to be examined and fully documented.
The mine has not been dewatered since 1932 according to historic records which was when the mine was aquired as part of the Keystone operation. It was not put into production due to the excellent ore values from the Keystone.