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Flag Mineral Property

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Flag Mineral Property

$22,952.89

Maynard Mining District

Mohave County, AZ

Near Kingman, AZ

Property Overview


The Flag mineral property is a former producer of Gold, Silver, Copper and Zinc. The mineral rights are held by a single, twenty-acre lode mining claim. The property has also been known as the American Flag Mine throughout its history. The Flag mine is the most productive gold and silver producer in the Maynard Mining District.

The Flag was originally discovered in 1872 and worked until the 1930’s. During this time the mine produced $2,500,000 of silver and gold. In the 1980’s 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.

When the claim was up for lease in the mid-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 0.18 ounces per ton gold, silver values were not reported despite extremely high assays from drilling. Independent mining engineer confirmed blocked reserves of 19,540 tons of ore. The ore material was identified as ruby or native silver and gold. Silver values varied from 60 oz per ton to 1500 oz per ton.

Efforts to re-open were not realized when the pricing of gold and silver remained near record lows in the late 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.

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(USD).

The mine contains an extensive amount of workings that are stable and competent and allow for easy survey and exploration work. The main haulage level intersects a large vein that shows native silver, gold and pyrites with quartz fragments.

The amount of development lends to the opportunity for a much more extensive drill program. The mining ore body appears to continue in a northwesterly direction and is roughly 250’ wide. The material is consistently high-grade native silver with gold material interspersed. Silver was seen in the forms of Ruby Silver, Galena, and sphalerite.

Access to the property 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. The main 6520 level is grated and maintains approximately 1 foot of water from an underground spring. The water could be used for mining operations. Historically the water from the mine and from a small spring was used for the mill that was utilized pre-1920. All that remains of the mill are a few foundations below the haulage level.

The property is currently fit for a small mining operation, one could expect to recovery 5000 tons per year with hand tools and small trucks to haul ore. A drill program running deeper through the deposits will likely prove that the property has potential for commercial development.

Tags

Mohave County, Arizona, Maynard Mining District, Arizona, Arizona Gold Mining Claim, Arizona Gold Lode Mining Claim, Arizona Silver Mining Claim, Arizona Silver Lode Mining Claim, Arizona Lode Mining Claim


Acres

Commodities

Type

20

Gold, Silver

Lode

Underground Dev

Surface Dump

Tailings

19,540 feet

30,410 tons

300 tons

Access

Features

Easy 2WD access

N/A

Gold Reserves

Silver Reserves

Copper Reserves

Platinum Reserves

Tungsten Reserves

Molybdenum Reserves

11,575 oz

11,575 oz

N/A

N/A

N/A

N/A


Image Gallery


Map

Gold Rush Expeditions, Inc Flag Mineral Property Map

Offered at $22,952.89


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