Chapter 5 Many Tons of Gold Waiting To Be Found Isn’t “Golden”!
Figure 16 Photos of Sulfide and Gold Ore from Central Wisconsin {26}
The gold mined in northern Wisconsin at the Flambeau mine near Ladysmith, Wisconsin was a massive mafic sulfide deposit with a smaller supergene enriched secondary zone of gold filled Chert (Figure 16). The massive mafic sulfide deposit (upper top left corner of Figure 16, dark mineral material) had an average gold content of 1.7 grams/ton. 5.8 million tons of this massive sulfide was mined and processed from 1993 – 1997 (4 years) yielding over 2.0+ billion dollars worth of gold, silver, and copper at December 3, 2014 commodity spot prices. The photo in the top center of Figure 16, shows the multi-colored mineral bands of the 1.9 million tons of gold-containing Chert that had an average grade of 3.4 grams/ton gold and 69 grams/ton silver. It was mined from the top of the massive sulfide orebody.{27}
The rock minerals in Figure 16 don’t look “golden” at all, right? But if you were only looking for gold that was “gold” colored, you would have walked right by a 2.0+ billion dollar payday. And many, MANY prospectors have! That is why the difference between the “average” prospector and the successful one is EDUCATION!
Figure 17 The now closed Ridgeway Gold Mine of South Carolina {28}
The Hot Spring Au-Ag deposits of North and South Carolina have produced, and are producing significant quantities of gold. The Ridgeway mine of South Carolina produced approximately 1.5 million ounces of gold between 1988 and 1998.{29} 28 tons of silver was also produced. The approximate market value of the 1.5 million ounces of gold at the December 3, 2014 spot price is 1.814 billion dollars, and the 28 tons of silver at the December 3, 2014 spot price was worth 13.311 million dollars for an approximate total combined market value of 1.828 billion dollars!
Figure 18 The Fortitude Mine, a Skarn gold deposit, assayed at 8.5 grams/metric tonne{30}
The Fortitude open-pit mine of northern Nevada (Figure 18) produced 2.8 million ounces of gold and 10.8 million ounces of silver from 11 million tons of ore between 1984 to 1993, worth 3.55+ billion dollars at December 3, 2014 commodity prices.{31} Skarns ( also called Tactites) are calcium-bearing silicate rocks.
Figure 19 Decalcified, silicified and strongly oxidized limestone, assayed at 0.031 oz Gold/metric tonne {32}
Figure 19 is a sample of a Skarn type ore from the Fortitude Mine of Figure 18 containing 0.031 ounce/metric tonne Gold (1.05 gram/metric tonne).{33} It doesn’t look particularly rich in gold, does it? But for the person who identified this gold mineral in the Nevada desert, it meant a 3.55+ billion dollar payday!
NOTE: The Boot of Cortez found in 1989 in the Mexican State of Sonora weighed 26.7 lbs, and was sold at auction for $1,553,500 in January, 2008.{34} As nice as it would be to find a nugget the size of the Boot of Cortez, wouldn’t it be nicer to know how to identify gold when it doesn’t look “golden” and have a 3.55+ billion dollar payday instead?!