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GS Mining completes purchase OF BLACK EAGLE Mill in Colorado
First Energy Metals starts drilling at Augustus Lithium Project in Quebec First Energy Metals has commenced its 2021 drill program at its Augustus Lithium Property in Quebec, Canada. Forage Hebert Inc. Drilling of Amos, Quebec, has been contracted for a 5,000 metre NQ size core drill program which can be increased at the company’s request. A B-20 drill rig has been deployed for this work which has a capacity to drill up to 1,000-metre-deep hole. The drill program is based on a
GS
Mining Company has purchased the Black Eagle Mill, a gold mill on Colorado Highway 103 in Idaho Springs, a twenty-minute ride from the Bates Hunter Mine which the
surface trenching and sampling program which is currently underway. The field sampling work confirmed historically reported spodumene bearing lithium pegmatites on the Augustus and Canadian Lithium prospects on the property. Several historical drill hole collars were also identified, which will help in location and orientation of drill holes for the upcoming program, which, if successful, will enable the completion of a maiden NI 43101 lithium resource estimate on the property.
The company views the purchase of the BEM as an important element in the execution of its business plan. With the addition of the Becker Bates and Gregory Bates to the Bates
“The value of the equipment alone exceeds the purchase price” company is rehabilitating and readying for gold production. The mill was built in 1934 and operated until 1979. Most of its equipment is intact and is included in the sale. The company believes that this was an excellent acquisition as the value of the equipment alone exceeds the purchase price. When current renovations are complete, the Golden Gilpin Mill should be able to process up to seventy tons of mineralized rock per day. The Black Eagle Mill, if put into service, may be able to add over one hundred tons of milling capacity per day.
Hunter, Clay, and Carr mines, the company anticipates it will have enough gold-bearing rock to fully occupy its two mills for decades to come and to drive substantial growth and profit. GS Mining Company conducts its mining business through various wholly-owned subsidiaries in the Colorado towns of Central City and Black Hawk. It owns, has long-term leases and options on various mining properties, including the Golden Gilpin Mill, Bates Hunter Mine, Becker Bates Mine, Clay County Mine, Carr Mine and Gregory Bates Claims. World Mining Magazine www.ogsmag.com
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