The properties consist of approximately 600 acres of patented and unpatented claims located along the historic Brooklyn Mine and associated structures.  Since its discovery in the year 1900, the Brooklyn Mine has consistently produced exceptionally high-grade gold ore. 

An historic resource estimate of $13.8 million (14,535 ounces of gold times $950 per ounce) at a grade of 0.69 ounces per ton contained in two established and accessible ore shoots below the existing workings is based on well-documented and confirmed prior exploration.  “We are targeting grades of 0.30 to 0.90 opt Au, however the Brooklyn Vein has produced ore with grades as high as 30.0 ounces of gold per ton,” stated Jonathan Moore, Project Geologist.  “The Brooklyn represents a property that is perfectly aligned with our Company’s strategy of targeting past producing mining properties in historic districts for exploration and production,” said Moore.

Overview of the Property

History

The mineralized veins of the property and the Brooklyn Vein in particular were discovered in the fall of 1897 by two prospectors named Fleitus and Hurlbert. The mine was then leased or purchased to two Ouray businessmen who operated the mine from 1901-1906.  This constituted the first real development and production from the Brooklyn vein. Production for this time was around 1,148 oz. Au, and 3,620 oz. Ag. Sporadic production from 1909 through the years of WWI yielded 211 oz. Au, and 1,142 oz. Ag. The mine lay idle until the Depression years. The mine was operated and developed significantly under the direction of Woods and Carney from 1934 until 1942. During this time the mine produced approximately 6,766 oz. Au, and 35,979 oz. Ag.

A report produced by Carl B. Schmidt in 1945 discussed the potential for the Brooklyn mine, but no work ensued at that time.  In 1957, Frank Richardson acquired the property and re-staked the unpatented claims of the property.  Richardson, in 1958-59, removed some of the remaining stope material from the depression years and produced 1,215 oz. Au, and 5,403 oz. Ag. Sporadic development work continued by Richardson throughout the 1960s, but no major ore shoots were found.