Gold has gone down river

I have been looking at some placer mining operations lately. Who hasn't with new TV shows based on placer mining operations popping up on a seemingly regular basis. I wish that I could say that I am taking a close look at placer mining because of the resurgence of interest created by mainstream television, but i can't.

Everything those folks do and have done is a credit to their perseverance, work ethics and integrity. It takes a no holds barred determination to go out on a limb buying equipment to start an operation, and a rock hard commitment to see it through. Let alone, diving in skin freezing water to recover gold.

Most of the time, you'll find guys like me looking at hard rock deposits and chipping out samples or drilling things to find a lode bearing area.  I have for many years focused on locating the source of the gold and hoping that it would eventually lead to making a mine. Some of that work has paid off, but it is a long drawn out waiting game. In any case in Canada right know the time involved between making discoveries of gold or other minerals in a hard rock environment and actually seeing a mine develop is at least 12 years.

So I have been thinking. What if I reversed my focus and used what I know about local gold deposits and started looking down stream or down river from the locations. Would I find placer gold that is more easily won? After all, I have often panned in streams and rivers day by day hoping to trace lode gold upstream.

Free gold is liberated and moved by erosion and usually carried down river to end up in river turns or crevices. I am thinking  that it may be easier to mine the gold that I panned over looking to trace the lode rock, than to actually wait to see a hard rock mine developed. That's a bit of a twist for me.

But I don't think it's far fetched, I know where several lode deposits are and I know where the rivers or streams that run off of the area are. I have traced them upstream and totally ignored the downstream possibilities. Until now.

It could be more rewarding to start a wee mobile placer operation down stream.

The Case of 480,000 oz. of Klondike gold

Found an interesting write up at Mining.com, the story is about a decade old court case over salvage rights to 480,000 ounces of gold. Yes nearly a half million ounces of Klondike gold!

At $1600 us per ounce that haul is worth about $768,000,000 ! Can you imagine finding that! What would that experience feel like, and no wonder it took a decade to settle it.

The steamship SS Islander carrying the gold from the Klondike and sank near Juneau, Alaska, August 15 1901. The ship was full with passengers, mail and 480,000 oz. of gold bullion. The SS Islander was favoured by businessmen and wealthy since it was better outfitted than most vessels.

Around 2 a.m. on Aug. 15 the Islander hit an iceberg in Lynn Canal, south of Juneau.Within five minutes, the bow was completely underwater making the ship inoperable. The boat sank 15 minutes later. Forty people lost their lives.

When the boat sank, salvage was not possible due to the depth and low temperatures under the water. A salvage company did managed to raise two thirds of the hull in 1934 but 60 feet of the forward hull section, the heavier part of the boat, broke away and stayed on the bottom.

Both Ocean Mar and Yukon Recovery made separate expeditions in the '90s and discovered the hull section independently leading to the dispute.U.S. District Court Judge H. Russel Holland said Ocean Mar located the vessel first, disappointing rival company Yukon Recovery.

Read the Story - Link at Mining.com