Price: $50,000

***SOLD***
St. Louis Mineral Property

A Gold Rush Expeditions, Inc. Mining Claim Property

Federally Registered Mining Claim ID:AMC#440544

20 Acre Lode Claim — Wallapai District — Mohave County, Arizona

Mining Claim Introduction

The St. Louis Mine is a Gold, Silver and Lead producing property located on the outskirts of the Cerbat and Wallapai mining districts in Mohave County, Arizona. The mine has documented history of production including assay reports and verified reserves of 8500 ton worth at least $6mil. Estimated cost of recovery is less than $1mil. That leaves the opportunity for a profit of over $5mil. These valuations are based on only the pre-existing and mapped ore bodies. These valuations also make no accounting for gold or other recovery, only for Silver and Lead.

The mine has good access and is located in a range that is renowned for its deposits. Geologists reported that the mine could produce as much as 75 tons per day targeting the mapped ore bodies. Silver averages 72 ounces per ton with measurable gold averaging .02 per ton.

The Property consists of a single twenty (20) acre lode mineral claim that covers the mine as it exists on four separate levels as well as the apex of the vein as it has been established and defined.

Gold Rush Expeditions, Inc. surveyed this property in 2017, noting various veins and valuable deposits containing silver, lead and some gold. The surveyors also report anomalous deposits of copper in the lower workings which may be indicative of new and lucrative veins unreported by previous surveys.

Mining Claim Quick Facts

Access

Good 4WD access to the Jewelry Store adit and the upper adit and shaft. 4WD is required.

Waste Dump Present/Size?

Dump is present, estimated total of 80,000 tons.

Tailings Present/Size?

No milling operations at the site, thus no tailings.

Mine Cut/Structure

A series of adits and shafts cut into competent hard rock.

Total Workings

2300’ + in documented workings. Not all accessible at present.

Commodities
Nearest City with Amenities

13 Miles to Kingman, AZ

Parking

Limited Parking at the lower adit. Good staging at upper adit and shaft. 10 Vehicles

Resources

None defined.

Other Items of Note

Steep, desert area. Very dry, inhospitable.

Acres and Type of Claim
20 Acre Lode Claim
Purchase Price
$50,000

Mining Claim Description

The St. Louis Mine and its mineral deposits are secured by a twenty (20) acre lode mineral claim. This claim is written generally trending SSW, encompassing all of the access portals and following the reported trending of the deposit. The veins are reported as “Chimney” type, or fissure veins, running a steep pitch. The deposits have been accessed on various levels and drilled and mapped to the lowest level of the mines. The deposit is assumed and moreover, reported to likely continue down for at least a few hundred feet.

As is the case with many of the mines in the area, the largest deposits and lodes remain underground and untapped due to challenges of deep mining operations. Only a few mines, like the Tennessee-Schuylkill and the Elkhart in Chloride (just north) have worked down more than 300’. In each of the cases where the mines were developed deeper than 300’, there were significant returns, the ores being very rich in gold and silver and also with good purity. These deeper mines netted millions of dollars ($7.5 million prior to 1948) in profits when silver was .35 cents an ounce and gold was $20. The values today would be in the billions.

The St. Louis Mine is less than 20 miles from downtown Kingman, Arizona. Kingman is a modern town with all of the necessities and quite a few luxuries. Any mining equipment desired can be acquired and labor costs are low with respect to other towns in the region. There is a somewhat skilled work force available due to layoffs and closures at the Mineral Park Mine in December of 2014. The Mineral Park Mine, which is just north of the St. Louis, is a massive pit operation with over 380 million tons of copper and 31 million ounces of silver in reserves. The property was purchased in 2015 with low copper and silver prices for $10million in cash.

The St. Louis Mine also has substantial mapped and documented reserves of silver, lead, and gold. Copper has not been historically reported at the mine, although Gold Rush Expeditions, Inc reported various veins of copper present in the workings and in the waste dumps.

The St. Louis mine has been developed on 4 levels with multiple access points, consisting of over 2500’ of linear workings. At current, the lower adit is the only inaccessible portal, the adit has been slowly filling with slough from run offs due to its location in a short canyon. Without diversion, eroded soil and rock has flowed into the mouth of the adit and made it unpassable at current. There is an exhaust pipe still in place indicating some operations even if just drilling, likely sometime between 1960 and 1980.

The upper levels, including the adit referred to in documentation as the “Jewelry Store” are open and accessible. They can be drilled and sampled in their current state with only minimal clearing required. The drifts are open and in good general condition and do not require timber or supports due to their cut in stable hard rock. There is no existing bad air in any of the accessible drift workings. The number of open and accessible portals are a benefit in keeping positive air flow through the mine workings.

The mine can be accessed by full sized vehicles, however, 4WD is required due to some sections of washouts, steep ascents, and some technical sections. The road from the highway is in excellent condition and 4WD is only required for the last .5 mile to the mine portals.
With documented reserves and easy drive up access, the mine would need only minimal improvement to be operational and begin shipping ores. The blocked reserves are easily defined and will likely show more and other deposits as they are worked.

The area is generally amiable to mining operations and development. Much of the workforce in the area is skilled in manual labors.

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