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Offline ChristianTopic starter
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« on: February 16, 2010, 08:30:29 am »
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Gold Panning Resources
      


With gold hovering around $1000.00 an ounce, can a person earn an income prospecting for gold? This is an age-old question and one I find difficult to answer. The answer is of course, “yes,” however, there is one important question you must first ask yourself.
“What standard of living are you trying to achieve?” If you [...]
         

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« Last Edit: February 16, 2010, 08:45:55 am by seldom » 		Logged
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Offline KlondikeIke
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« Reply #1 on: February 16, 2010, 09:47:50 am »
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Hi Christain...

Thanks for all your good info you post on here.....Below is a copy of a reply I posted in the "prospecting talk" section... Pass it on or ignore it,  if you wish...

Hi to all....

After ready all these posts... I decided to express my 2 cents worth.... My opinions are not meant to challenge or offend anyone... if they do, I apologise right up front... however, these opinions are based on many, many years of practical experience...

I started prospecting in the mid 1960's... took a few years off for a 3 tour in Viet Nam... and other things.... ..... but earnestly began prospecting in 1972.... and about 1980 turned my hobby into an occupation.... and for the most part, my income has been made from mining ever since....

Once you make the decision to become a professional or commercial miner... please have plenty of fluid cash available...as your commercial endeavor will drain you dry long before you make a lot of money at mining... in my case, I consider myself a moderately successful commercial miner.... but it wasn't until around 1998 or 99 that I began\n to consistently make money at mining... From the days of building our own dredges in the '60's to using nearly $1,000,000 in heavy equipment today.. a lot has changed in my life...would I change anything..probably not.... This is just a warning to you...that in my case it took nearly 30 years of prospecting and mining to see some good and consistant success...

If you are considering stepping up from a casual recreational miner to something more serious.. take a serious assessment of your cost...For instance, just for one weekend outing... you have your time invested.. your equipment cost...fuel... food... and so on and so on....You'll soon find, that a week end fun prospecting trip will cost a couple hundred dollars..... now multiply you cost several times as you increase you volume of gravel processed....and cut your projected earning by 50%.... IS THIS WHAT YOU REALLY WANT TO DO FOR AN INCOME...?  Pencil it out first... make sure you are making a wise choice...

Concerning nuggets.... I have found my share.. from a 2 1/2 pounder to very fine gold so small it is barely visible...  Jewelry quality nuggets can be so small to be used as inlays... or as large as 1/4 to 1/2 ounce "hangers" ... above that... you start to get into collector quality....

Jewelry quality nuggets will bring better than spot and it varies as to how much...mostly due to supply and demand.... and the collector specimen will bring up to 3 times spot usually...and more if it is just that one in a million special nugget...

For me, the handing of the gold cost time...which is money....I'd rather be processing gravel to collect more gold... that trying to sell the gold I have...It becomes a personal choice as to which is a better business choice....so I often melt everything except for those very few exceptional nuggets and turn the gold into a commodity I can use...like CASH!!!!  which is why I mine gold...so I can pay my bills and build up my retirement fund... which will usually increase in value faster than an old dusty nugget setting around for a few years... I can put my cash to work over and over again and again...and with the timing I choose.... but the nugget just gets dusty and only follows the trend in gold prices...at its choosing...

I usually use AAA metal and refining near Portland, Oregon to sell and melt my gold...  Under 50 ounce lots, they'll charge a $75 assay and the give you back either pure certified gold or cash for the actual gold minus a 7% processing fee..... over 50 ounce lots and the fee drops to 3%....and with over 50 ounce lots ... they will buy the silver and other impurities in the gold... They give me 50 % of the weighed gold at the sale and the balance of the actual pure gold amount and impurities at spot, minus any fees...usually in about 2 weeks... I've sold gold to them for several years... they are honest.....quick and very trustworthy....

As to purity of gold.... I've mined gold from Alaska to Mexico....and the nuggets and flat pieces that assayed anywhere from 71% pure to about 93%... It is a very rare situation that gold is above 95% pure in its natural state... it does happen... but it is rare...I've found most gold is usually in the mid 80% in purity range.....

I have from time to time melted my own ingots just for easier shipping and handling... but their isn't much advantage to melting your own gold...because it isn't certified...it doesn't have that government issued smelting stamp on it by the refiner...only then can you legitimately sell the ingot as .999 fine gold...or silver ..or whatever...

Below are some pictures... one of 3 1/2 ounces in a jar...very little is of jewelry quality..... another is of about 2 pounds of gold nuggets in my hands... these are jewelry and collector specimens..... and a third pix of one of my commercial processing plants....

I wish everyone's gold dream come true... and best success in your prospecting....

Klondike Ike....

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« Reply #2 on: February 16, 2010, 10:27:10 am »
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Tnx for all the Info,  I have tried panning the local rivers here in Indiana, was told they would not produce anything, WELLL, I guess they were right, have never even been able to get anything, but I will try, try again, maybe someday, might get a shiny lil thing or 2.  Wise

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« Reply #3 on: February 19, 2010, 12:06:17 am »
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Klondike, thanks for the personal perspective and tips.

BA

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Offline andy2sleepy
if you're gonna trip anyways, you might as well do it over a 20 pound nugget
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« Reply #4 on: February 19, 2010, 07:22:26 am »
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thanks for the post ike.  it really puts things back into perspective.   i'm like most other "weekenders" in that i dream of finding that elusive creek where the gold is just lying there on top of more gold, lol.  i havent found it yet, but i let ya know when i do...  in all honesty, i would be content to find enough to pay off my dredge this season.   thanks again for the info.  good luck and happy hunting!
                                                                                                  andy

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« Reply #5 on: February 19, 2010, 07:35:36 am »
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My wife says my Hobby keeps me from robbing banks.... Eventually she lets me get what I want. She has trimmed the money tree, but hasn't cut it down yet. Everyone would love to pay for their equipment with finds, but usually doesn't happen. If I go to a pay for dirt lot to get my fix, and spend $50.00 and get 25 dollars worth of gold she calls this a victory because I played outside all day or all weekend. There is a formula that says for every piece of gold you find, there is a piece of equipment you want to help you find the next piece.

Landshark

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Offline KlondikeIke
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« Reply #6 on: February 19, 2010, 06:06:02 pm »
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Hey andy2sleepy,

I've done a lot of prospecting around the Downieville, CA area..it on he northern edge of the the CA motherload country....

It's named after Major Downie who made 3 trips up the Yuba River back in 1850 --1855... on his last trip he stated in his diary that he knew the area was mined out now because when he brushed the sand and small cobbles of the larger sandbars in the river with his boot...he no longer could see gold mixed in with the sand and rocks....

Now that's a river of gold...and a true story..as reported by the Mountain Messenger.. a local Downieville newspaper, which is the oldest and longest continually operating newspaper...and is still operating ever since 1850...

Have happy dreams about a find like that one..I know I do often...too bad we don't live in that time...only knowing what we know now...

Good luck in your prospecting...,

Klondike  Ike

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« Reply #7 on: February 19, 2010, 06:28:42 pm »
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first of all Klondike THANK-YOU  for your service to our country. as well as the other vets here. the pictures are great, is the land yours (private owned) or a claim, I guess what I was wondering is how many acres a year do you process or go over, it really looks exciting,thanks again heathen1

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Offline KlondikeIke
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« Reply #8 on: February 19, 2010, 07:26:42 pm »
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Thank you for your comments....

What we have is a State of Alaska mining claim covering about 400 acres...which is sooooo much easier that any Federal BLM land anywhere...The paperwork is much easier... no environmental assessment, okay to build dams... recycle the stream water and so on...with an under 5 acre disturbance... however...if your stream crosses federal land... then even though they have no jurisdiction on your claim since it is on State land...they will still hold you to a strict letter of the law if your operation cause any problems on Federal land....... With the State of Alaska, it is as near to the 'ol days of mining when you sat down with the minerals officer and came to an agreement on your plan of operation, paid the bond and went to work situation...The State of Alaska does things concerning mining much, much different that in the lower 48 and the BLM...There're very easy to work with... the DNR office is there to help you...not hinder you..

If you get a chance...check out the website I built....

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...  and you'll see what we are all about concerning mining...

Thanks again for your nice comments....

and good luck with your prospecting...and detecting...


Klondike  Ike

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« Reply #9 on: February 19, 2010, 08:24:36 pm »
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that's a excellent web site you have there! I'd give my eye teeth to just watch that operation for a few days. when the color comes out at the end of the process it must get the heart beatting pretty fast. thanks heathen1

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