Located in central Idaho, this former gold producer has been an intermittent exploration target since the 1860’s, having reported historical grades averaging nearly one ounce of gold per ton (oz/t), with roughly 60% of the mineralization in the form of free gold, and the remainder associated with sulphides. Tests performed by prior mine owners indicated that up to 88% of free gold is recoverable by a gravity circuit and that up to 80% of the sulfide-hosted gold is recoverable by either cyanide leaching or roasting.
This acquisition provides a strong foothold for establishing an operational mill in a historically mineral-rich region, affording eventual opportunity to process ores from satellite mining operations. Included in this purchase was a complement of mining equipment, including surface excavation equipment, power generators, air compressors, pneumatic drills, LHD’s, maintenance and shop equipment, ventilation fans, pumps and other essential items.
The prior owners have invested considerable resources toward indentifying specific exploration targets, developing exploratory drill programs, safety and environmental compliance, site cleanup, mine rehabilitation, and restoration of the mill facility.
This acquisition provides a strong foothold for establishing an operational mill in a historically mineral-rich region, affording eventual opportunity to process ores from satellite mining operations. Included in this purchase was a complement of mining equipment, including surface excavation equipment, power generators, air compressors, pneumatic drills, LHD’s, maintenance and shop equipment, ventilation fans, pumps and other essential items.
The prior owners have invested considerable resources toward indentifying specific exploration targets, developing exploratory drill programs, safety and environmental compliance, site cleanup, mine rehabilitation, and restoration of the mill facility.
Mine Highlights
• 500 Total Acres | 202.34 Hectares
• NI 43-101 Report completed
• 120 ton per day, on-site mill Mineral
Mineral Resources
Initial channel sampling conducted with the Rescue Mine returned gold assays as high as 9.6 oz/t over a two-foot width, 7.4 oz/t over a one-foot width, and 5.5 oz/t over a one-foot width.
The 43-101 Report's independent author recommended that the owners should “make the Rescue Gold Mine exploration their first priority as this property has the greatest potential to yield resources defined to an adequate degree of confidence to allow further development of the property. The geology of this property is most predictable in terms of defining additional mineralization and the potential to discover additional mineralized shoots is high thereby boosting tonnage per vertical foot and the economics for development. The Rescue Mine also has a small mill on site, with demonstrated ability to recover gold mineralization from the Rescue Mine mineralization.”
• 500 Total Acres | 202.34 Hectares
• NI 43-101 Report completed
• 120 ton per day, on-site mill Mineral
Mineral Resources
Initial channel sampling conducted with the Rescue Mine returned gold assays as high as 9.6 oz/t over a two-foot width, 7.4 oz/t over a one-foot width, and 5.5 oz/t over a one-foot width.
The 43-101 Report's independent author recommended that the owners should “make the Rescue Gold Mine exploration their first priority as this property has the greatest potential to yield resources defined to an adequate degree of confidence to allow further development of the property. The geology of this property is most predictable in terms of defining additional mineralization and the potential to discover additional mineralized shoots is high thereby boosting tonnage per vertical foot and the economics for development. The Rescue Mine also has a small mill on site, with demonstrated ability to recover gold mineralization from the Rescue Mine mineralization.”
Milestone Progress
2009
• Completed merger to acquire Kimberly iiGold Mines, Inc.
• Installed Knelson concentrator
• Updated and remodeled Rescue Mine mill iito make it MSHA compliant
• Made test runs of the Rescue Mine mill using stockpiled ore
• Installed Rescue Mine tailings pond liner and pond water piping
• Completed construction of large staging building to service the Rescue Mine
• Drafted plans to reopen one or more Rescue Mine portals
2008
•Shoshone Silver Mining Company completes LOI to acquire the Rescue Mine
2007
• 21 hole, 8,090 foot diamond drill program, designed to test five specific areas
• Rehabilitation of Rescue No. 2 Portal completed
• Knelson KC-CD20MS concentrator ordered for 120 ton per day mill
2006
• Mandatory repairs and essential clean-up projects undertaken
• Access bridge refurbished
• Storage buildings refurbished
• Percolation pond dikes raised and discharge cleaned
• Water drainage ditches excavated
2009
• Completed merger to acquire Kimberly iiGold Mines, Inc.
• Installed Knelson concentrator
• Updated and remodeled Rescue Mine mill iito make it MSHA compliant
• Made test runs of the Rescue Mine mill using stockpiled ore
• Installed Rescue Mine tailings pond liner and pond water piping
• Completed construction of large staging building to service the Rescue Mine
• Drafted plans to reopen one or more Rescue Mine portals
2008
•Shoshone Silver Mining Company completes LOI to acquire the Rescue Mine
2007
• 21 hole, 8,090 foot diamond drill program, designed to test five specific areas
• Rehabilitation of Rescue No. 2 Portal completed
• Knelson KC-CD20MS concentrator ordered for 120 ton per day mill
2006
• Mandatory repairs and essential clean-up projects undertaken
• Access bridge refurbished
• Storage buildings refurbished
• Percolation pond dikes raised and discharge cleaned
• Water drainage ditches excavated