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Property Overview

The Legal Tender Mineral property is a 20-acre lode property. The property is located in the upper hills of the Bonanza Mining District. For reference, the old shaft entrance sits at an elevation of 11,795’.
The Legal Tender sits on the flat at the top of the mountain along with the Shawmut and a few other mines. These mines have all been historically large volume producers and done very well for their owner operators. Due to the elevation and location the mines can only be economically worked from late spring to early fall. This fact, along with lack of capital as a result of the Great Depression mothballed all of the mines in the district by 1931. The mines have produced sporadically since that time but on a limited scale.

The Legal Tender is, as noted, one of the oldest mines in the district. It is estimated to have started in the mid 1850s.The mine, to date, has not been opened or examined after 1929. In 1929 it was reported as in poor condition and not safe to access.

The mine was purchased by ASARCO in the early 1990s as part of the Rawley Mine acquisition. The mine was not addressed in any manner.
The extent of the mine and its development has not been verified. The only information available is that the mine produced gold and silver at a rate of $40 per ton. No breakdown of the ratios of gold to silver are known.

Dump, or discarded material at the mine returned values of over 0.33 oz. in gold per ton and 0.2 oz. of silver per ton. This would indicate that silver was the primary target . However, this may not be the case in this region as gold has been commonly reported in the early days of the district to run well over 10 oz. per ton.
The potential for development at the current site would lie in the recovery and efficient processing of the dumps at the main shaft and around the property.

There is excellent road access to the site. The current road will support full size vehicles and heavy equipment such as dump trucks and loaders. There is also potential to improve the road into Alder Creek for more direct access to highways.
The Legal Tender represents a documented asset of at least 29,994 oz. of recoverable gold and 25,410 oz. of silver from the surface material. The real value in the material will be in the subsurface workings. These have not been addressed since the price of gold was less than $20 per ounce .

Gold Rush Expeditions, Inc. does offer mining consultation services and assistance with permits for a small fee.

Training courses for underground work and exploration can be found here: https://stayoutstayalive.com/training/