The Mine is a fully permitted high-grade gold property located near Downieville, California in one of the richest districts of the California Mother Lode.  The property is 120 acres, consisting of six unpatented 20-acre claims.  It can be accessed approximately eight months out of the year without snow removal via a county-maintained road.  The mine is jointly owned by a partnership between a local mining company and an investment group, which was established in 2021.  A separate jointly owned Operating Company is in place, which completed the site development and re-opened the existing underground channels in 2021-2022.

The mineral deposit consists of an ancient underground gravel deposit with both primary pre-volcanic and secondary lava capped tertiary river channels, and lode gold deposits in the shoo-fly structure, as well as high grade gold bearing quartz veins. The Mine is located upstream and adjacent to the Ruby mine, famous for its large coarse nuggets.  Several large nuggets have been found at the Mine in the past, including one weighing in at over 90 oz.  Drill results from the 1990’s indicate a lode zone which assayed at .111oz/ton for 15’ wide.  Further testing discovered an unknown channel approximately 20’ deep which assayed at .05oz/ton.  This property is on the East edge of the Melones Fault Zone (California Mother Lode) and on trend with some of the richest mines in California. It contains at least three gravel channels and several lode deposits, which all carry gold.  It was determined while working in an underground channel accessed through the Lawry shaft at the Ruby Mine that the larger coarse gold was coming from the virgin upstream extension of the channel, which is covered by our claims.

The 2023 plans for development and operation include the completion of a CA NI 43-101 with underground and surface geological mapping of the tertiary channels by Mine Development Associates/Respec in Reno, NV.  Mining will commence once the initial geological mapping is complete. 

Long term plans include expansion of the mine footprint to absorb surrounding acreage, development of a larger processing facility, and possible placement in a Trade Program to generate additional capital for expansion.

The Management Team of the mining company has years of experience in the local area with a great reputation with local, state, and federal oversight agencies. 

The Owners are offering a 25% equity share of the claim block covering the mine for $1,250,000.  An initial contribution of $75,000 will also be required as the new investors share of 2023 startup operating costs.  The site is currently inaccessible from the record setting winter of 2022-2023, but we anticipate full access by mid-June 2023.

An operating budget for 2023 is available to interesting parties once proof of funds have been confirmed

QUALIFIED INVESTORS ONLY PLEASE!
Proof of Funds are required prior to any agreements being drafted

If you would like more information

please email us

and ask about the

Turn-Key Underground Placer Mine #L2280

email us at steve.long@reagan.com

fax 208 265 5377