The Lookout property is a remote gold producing site on the southwest end of the Silver Peak Mountain Range. The property sits above the central Nevada basin which separates Nevada from California. The site is reported to have been active from 1860-1881, being worked for gold discovered in surface vein material. The gold-containing ore consists of a quartz/calcite with chrysocolla and malachite. There are also significant amounts of copper ore.
Assays were taken throughout the property and on a major vein that sits just off the main shaft. Assays at the vein showed copper over 11% and 1.18 AU/Ton.
The value of the property is based on the dump material that is currently on the site. There are five large dumps totaling 29,400 tons. There is also a large dump of unprocessed ore that was staged for the mill. This dump is just over 4,000 tons. There are thought to be significant reserves in the workings, based on surface dumps of unprocessed ore, along with a large quartz vein of gold and copper that is exposed near the headframe. None of this material appears to have been addressed, however this has not been confirmed. The valuation of the property is based on 0.1% of the actual value of metals in the dump piles as determined from assay samples.
There are remains of a large mill on the site. This mill is thought to have been a dual battery crusher and likely a gravity-based concentrator. The material was likely run with some chemical after coming off the tables as there is a large tailings pond on the ESE end of the property. This mill likely operated from 1972-1986 as well as can be determined from historical records.
The property is in an extremely remote area. There is no cell service. Roughly 40 miles from any sort of services. Recommend 4WD for access. There are good county roads that lead most of the way to the site, the last 2 miles are not maintained and have some rutting and washouts.
This property is an excellent site for small operators that wish to ramp up quickly. It would be simple to begin with a Notice of Exploration and map the workings, take chip samples and drill the property to define the magnitude of the ore body. Ore and dumps could be processed on site with proper permitting or transported to a mill which would not require additional permitting.
While the dumps and unprocessed ore are being addressed, the operator would be able to rehabilitate the subsurface workings and begin development of the defined lodes. The copper will require specialized processing and will likely not be able to be processed on site. Copper is contained in Malachite and Chrysocolla.
There are remains of a mining camp at the site, including a horse corral at the WNW end of the property, 2 small buildings, and a boarding house. The buildings are in rough condition but speak to the development of the site. The metal headframe was likely added in the early 1970s operation and is still very much usable with the sheave wheel still in place.
The main shaft is cribbed and in excellent condition with a separate manway allowing for transport of personnel and ore in separate shaft spaces. The underground development, mill, headframe, and the buildings which were constructed from stone all show that significant effort was expended on this site. This is usually a reliable indication of a producing mine. The shaft and open stopes will require very minimal rehabilitation to be made safe and usable for daily operations.
The property is a brownfield development and established as a high value deposit of copper and gold and can be developed for either. The valuations are calculated solely on the material that is on the surface of the property and no accounting is made for material that is still underground or in situ.
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