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GOLDTECH ENGINEERING Worldwide Mining Resources - Gold Mines For Sale |
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AJAX MINE - - - - EXECUTIVE SUMMARY
Location: Eleven USFS claims totaling 220 acres on the Idaho / Montana Divide Ore Reserves: Mineral Reserves of US $3.356 Billion Gold: 2,302,340 oz @ $1,500 oz - $3,453,510,000 Silver: 15,123,250 oz @ $35 oz - $529,313,750 Cash Flow: Annual net profit projected at US $301 Million at 50 tons per hour.
Location: The Ajax property lies on the Montana-Idaho Divide approximately 20 miles north of Salmon, Idaho and 22 miles southwest of Wisdom, Montana. Access is by County maintained roads and high elevation Forest Service roads.
Mineral Reserve Reporting Standards: There are currently multiple and conflicting standards worldwide for the reporting of mineral reserves. Following a major stock fraud, Canada enacted a very restrictive law entitled NI 43-101 that essentially dismisses testing data older than 2 years. Under this standard, the Ajax Ore Reserves would be characterized as estimated or historical reserves. Despite intensive lobbying by Canada, the US government has not adopted 43-101 standards. Under existing US law, embodied in SEC Industry Guide 7, and based on the reporting standards set forth by the US Society of Mining Engineers, the Ajax Ore Reserves would be characterized as Proven and Probable Reserves.
Property Description: The Ajax Mine consists of 5 unpatented claims on the Montana side of the Divide, and 6 unpatented lode claims that are situated on the Idaho side. Approximately 220 acres comprise a contiguous block of unpatented mining claims situated on the National Forest at high elevation. The Montana side, and on the Divide, the property is predominantly void of vegetation, characteristic of high elevation terrain. A portion of the claim block on the Idaho side is partially tree covered with Alpine Fir, Lodgepole Pine, and scattered Douglas Fir. High elevation winters will generally result in shorter than normal production seasons.
Ore Reserves: Underground exploration, surface trenching, and drilling have collectively defined approximately 2,379,229 tons of ore containing 2,302,340 ounces of gold, and 15,123,250 ounces of silver.
Geology: The Ajax ore deposit is essentially a broad shear zone crosscutting Pre-Cambrian age quartzite and siliceous argillite. The zone of shearing hosts a wide and continuous quartz vein deposit, together with broad zones of intensely crushed and
History: The Ajax is an old historic producer of rich pocket-gold ores, dating back to the early 1880’s. Most production came from the Montana side from four crosscut adits located above Ajax Lake on the north facing slopes of Ajax Mountain. Historically the gold ore averaged in excess of 4 oz/ton and was hauled by wagon two miles to a stamp mill built specifically for Ajax ore.
Production Analysis: The current average recoverable ore value is $1,538.93 / ton at a $1,500 per ounce for gold and $35 per ounce for silver. Estimated production costs will total approximately $142 / ton, resulting in a pre-tax net profit of $1,396 / ton. A production rate of 50 tons per hours with two 10 hour shifts is projected. At this rate a daily operating profit of $1,154,648 is projected. An estimated working season of 9 months at double shift should generate an average of $301,536,000 per annum. The operation will consist of both selective surface mining and underground mining methods, including shrink stope, cut and fill, and some bulk mining within broad zones of crushing and brecciation that may be unstable for conventional stoping methods.
Crushing, Milling and Smelting Operation: To expedite permitting, crushing, milling and smelting should be done offsite on a private property parcel to be leased or acquired. In essence, the mining permit will be to extract and haul ore. Ajax ore will be treated primarily by advanced gravity concentration, but in addition, a regrind circuit will be employed to process secondary concentrates from the gravity circuit containing gold and silver losses in sulfosalts and sulfides. The regrind circuit will most likely utilize flotation or a closed circuit leach system. The final milling flow sheet will be determined by additional metallurgical testing and a more detailed analysis of the mineral recovery properties. The crushing and grinding circuit will consist of standard conventional crushing by either jaw or gyratory first stage crushing equipment and cone crushing equipment for second stage crushing. The grind circuit will be defined by additional test work but is expected to consist of either advanced ball mill, rod mill, or roller mill applications. Private property is available from a nearby ranch to facilitate ore processing and to act as a base of operations for office, personnel housing, and maintenance and repair facilities.
Permitting: Permitting for mining on Federally administered land will require the submission of a detailed Plan of Operations. The approval process will involve NEPA analysis, requiring approximately 12 to 24 months for final approval. Permitting the mill site on private land will require less time and will involve only the Idaho Department of Environmental Quality.
Price: Price will be quoted directly to qualified buyers or intermediaries.
The following technical documents and reports are available for review: 2004 Jenkins Technical Summary
Other information available for review: BLM LR2000 Database Report Verifying Ownership 2008 Independent Appraisal Report 2010 Appraisal Report Update Area and Site Maps Area and Site Photographs (see limited photos below)
If you are interested in purchasing the Ajax Mine, or in obtaining further information, please click here for contact information.
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Primary Mine Site
Underground Test Tunnel
Road into Ore Body Area
Old Ajax Stamp Mill