There is really nothing like being out in the wilderness exploring the creeks for hidden treasures. Especially when it is on your own gold claims. In this part we are going to look at a few things to be aware of, some tools you will need, and even some tips to what be on the lookout for. Prospecting tool
When originally one stakes a claim the big question is, "Is there any gold there?" If so "where do I look?" That's the reason why we have prospectors. People who go out in search of gold, silver, copper and so forth. There is a old saying and that is "Gold is where you find it." Truer words never spoken. But learning where to look is the big secret. First Things First
When going out to your claims some things you will want to make sure to take along. Because claims are out in the country away from civilization most of the time it is good to be prepared. Rule of the wilderness. Prepare for the worst. Make sure you have a good spare tire and jumper cables. We take one of those solar chargers that you plug into the lighter to keep your battery charged. Out in the bush with a dead battery can be deadly. A spare fan belt and some spare fluids like coolant, oils etc. along with some mechanical tools is a must.
Secondly, it's a good thing to build a checklist of items you will need. Even though we try to go with a buddy it doesn't always work that way and we find ourselves heading out alone. Firstly, get a small backpack to stuff things in. We always carry a first aid kit. The key to remember here is to always be prepared. Make sure you take an extra pair of clothes, especially socks and a spare pair of boots. When wearing boots it's always a good idea to wear ones with a firm ankle support. Walking over river rocks is a sure way to sprain an ankle. Gloves are handy. You would be surprised just how fast you will get a blister if you haven't been working a shovel.
Always carry matches / lighter of a flint starter in a pack back. A really handy idea is to pack along a zip lock bag with dryer lint. You know the lint that collects on the screen in a clothes dryer. That is the best fire starter you can get and it's lightweight. Also some high energy bars for that just in case along with water and water purification tablets. We also take a GPS just in case. A GPS is also handy for finding your boundaries and for recording findings that you can place on a map. We also carry a "find me spot" that will alert others if we are in distress. A good idea is to throw in an old-fashioned compass. GPS's need batteries and when you are out in the middle of nowhere you won't find a battery when you need it. Don't depend on cell phones. A flashlight is a handy item along with a good hunting knife and a few all-purpose pocket tools can sure come in handy also.
When heading out to into the bush or wilderness one can come upon wildlife quite a bit. If you are going into bear country this brings up another situation to be aware of. Always carry a can of bear spray or if possible even a weapon such a defender. Bear bangers do work OK also as we have had to use them on occasion. In desert areas a snake bite kit is important also. Your list of essentials may be much larger than this but we feel this is the basics for heading out. Also, be sure to tell others where you are going and an expected time you plan to be back.
Ok, here is a quick list of what we think are MUST HAVE things to stuff into that backpack. You can always add to this list but these are what we feel are essential.
When to tools for prospecting, try to keep equipment to a minimum. Remember that whatever you pack into the bush, you have to pack back out. Just look back up the page and see what all you are putting into a backpack. Now you will be adding some additional weight. You will find that prospecting is hard work. You will be using muscles you never knew you had.
Anyhow, the most important items you will need is a small spade, a small pick and a gold pan. Most people now use plastic gold pans because they a light weight and they quite durable. If you have a creek that flows well you can bring along a small ground sluice that you can set up in the water and shovel into. You will also want to bring along a small snuffer bottle, a few small plastic type of containers to out your cons in and a small tweezer. Remember the idea here is to prospect your ground. Not mine it. You want to find where the best area are first, then go in and mine that area.
Before Buying a mining claim, there are many factors to consider. Keep in mind, it takes lots of time, money and equipment to work a gold or other mineral claim! Its a great way to get out in nature, but keep in mind your revenue will be hindered for every month you can't work the claim, primarily driven by weather and needed resources such as fresh water and fuel.
When considering purchasing a mining claim, there are several factors that you should take into account before purchasing.
Legal Considerations - Always verify the legality of the claim. Make sure that the rights to the claim are valid and legally registered.
Location - Location is crucial. Accessibility, proximity to resources, and the potential for mineral deposits are key factors.
Mineral Rights - Check whether you’re buying just the land or also the mineral rights. Without mineral rights, mining may not be permissible.
Assess the Land - Get an independent appraisal of the land and what’s beneath it. This should include the potential for profitable mineral extraction.
Previous Mining Activities - Research any previous mining activities on the land. This could give you insight into the potential for finding additional minerals.
Environmental Considerations - Research any environmental restrictions that might limit mining activities.
Costs - Understand all the costs involved, including purchase price, ongoing maintenance costs, tools, labor, and cost of compliance with regulations.
Market Outlook - Look at the current and future market for the minerals you plan to mine. If there’s no demand, profitability might be low.
Insurance and Liability - Consider potential liabilities and insurance coverage. Mining can be a risky business, so it’s important to be prepared for potential accidents or damage.
Remember, buying a mining claim is a significant investment that comes with its own set of risks and rewards. Do your research thoroughly before making a decision.
I get emails once in a while asking what stocks I recommend and while I don’t recommend any stocks or equities, I will tell people what I am buying and why I am buying them if I’m asked. I’ve gotten some good insight from some readers in the past and I hope to have past the same onward to them.
Right now almost all mining stocks are out of favor because of pot stocks, blockchain, crypto stocks and just the large money stocks like Amazon, Google etc., which mean there are what could be some very good speculative buys out there in the junior mining sector along with some very undervalued buys in the more developed miners. The big question is how long will it take before the market turns around so that these so called “good buys” reward investors with a decent return
The chart above is a 40 year chart showing the difference between equities and gold. Most recent was of course 1999-2000 when gold prices were $260 per ounce. From that point on gold started it’s bull run to 2011. Fast forward to today and we see that bullion is even cheaper compared to stocks than it was back in 2000.
So is it time to buy? Well I’ve been saying yes for the last 4-5 years and unfortunately I have been totally wrong. I never took into consideration things like zero per cent interest rates, massive amounts of money printing, a strong dollar, etc. and it hasn’t been nice being a gold bug during this time. However I do tend to believe that there are global issues going on at this moment that will cause the tables to turn and we shall see the precious metals start an upward move. Some of these issues is the China Yuan oil pricing, a Chinese gold exchange that only permits gold and not paper to be exchanged, a North Korean issue, maybe some US politics and we can’t forget the overwhelming debt issue, both personal and sovereign. Sooner of later something has to snap and when that will be is anyone’s guess.
So getting back to mining stocks, what stocks are looking poised for upward momentum the most? In my opinion silver plays will reward long term investors the best bang for their buck. I believe silver will do well because it is the smallest market in the world and is one of the few commodities that is being used more than it is being replaced. Once buyers of physical silver start asking for the real thing instead of cash things could get very interesting in my opinion.
Second would be zinc and then cobalt stocks which would also include nickel plays. Zinc because there is a large demand for zinc and the price keeps climbing. Cobalt prices also are also sky high and continue to climb even more so since the government of Congo wants to add more taxes etc to it’s cobalt extraction industry.
If you enjoyed this article, please feel free to share. When seeking out mining stocks always use Due Diligence and see our Disclaimer and be sure to sign up for our free news letter located on the right hand side of this page.
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Gold From The Snake Indians
Letters of early day trappers and hunters that lived close to the Pacific coast reported that the Snake Indians often were seen with buckskin pokes filled with large gold nuggets said to have been washed from the sands and gravels in a secret location by Indian women. Many years later, Frank Lane, a graduate just out of Yale Law School, saw one of these letters from a trapper in the West, and decided to do some prospecting before settling down to engage in his practice. Lane chose for his partner another college graduate, who for the purpose of this story, we will call John Howard. Together the two men set forth with fresh heart sand high hopes to search for the golden mirage that lay beyond the snow-capped Rocky Mountains. For many months the young eastern college men prospected in the Colorado Rockies but beyond the discovery of a few low-grade gold quartz ledges, they had little success. Finally the near approach of winter drove them down through the sunset canyons and mountain gorges and out on to the plains of eastern Utah on the border of the Snake Indian country where they established a permanent camp and prospected for gold during the months that followed.
Having no success the inexperienced prospectors moved their camp farther one night at the base of a low-lying granite mountain where they pitched their tent for the night. The iron-stained mesas around the great uplift were full of potholes. Lane grew more restless and decided to turn the outfit over to his partner and returned east and took up the practice of law in Boston. Howard became the sole owner of the outfit free to live the life he had grown to love. After the departure of his friend he rode out for a short hunting trip on the surrounding plains. He bagged an antelope and on his way back to camp stopped at one of the pot holes to get a drink. The noon day sun was shining directly into the hole and he saw some shining pieces of ore at the bottom of the shallow cavity .Then he waded into the water and scooped up a handful of gold.
Using a gold pan he worked all afternoon scooping the gravel from the bottom of the hole and panning out the nuggets going back to camp with an estimated $700 worth taken from the shallow whole. Howard worked for weeks on these plains around his camp on numerous pot holes dotted the iron stained mesas around the great granite mountain. As winter approached Howard made his way to the nearest settlement with buck skin bags of gold which later proved to be worth nearly $100,000. He returned east with his fortune but through bad investments eventually lost most of it. Many years later he tried to return to the scene of his fabulous strike, but either failed to reach the right location or the pot holes had been worked out, for he did not find a single nugget of gold.
Old time cowboys and sheepherders refer to a place in the eastern Utah as the pot holes but none of them have ever been known to pick up nuggets in this region. According to one version of the lost gold story, the pot holes described by Howard were not natural holes such as occur in sand stone formation in many parts of the west, but were excavations made in a gravel conglomerate by the Snake women to obtain the gold mentioned by the early day trappers and hunters, and that a fortune still awaits the prospector who will find that conglomerate deposit.