Projects

Placer Mining Corp identified the Plomosa Properties acquisition as a potentially superior acquisition opportunity.  The Company had evaluated and tested the surrounding in ground mineral assets and had determined that the properties remained economically viable when both operational and processing changes were instituted. Once all projects are in full commercial production, in conjunction with multiple black sands processing plants and their own on-site refinery.

(10) Projects in Various Stages of Development

Plomosa Placer Project 1 (1920 Acres)

Plomosa 5 (640 Acres) SALE PENDING

Plomosa 7 (640 Acres)

Plomosa 17 (640 Acres)

Plomosa 19 (640 Acres)

Plomosa 23 (640 Acres)

Gold Nugget Project (640) SOLD

Jackpot Placer Project (730 Acres) in Production "Phase I"

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History of Mining in the Plomosa Mountains

In 1862, Captain Pauline Weaver found the Indians along the Colorado River had gold nuggets to trade. In numerous prospecting trips found that the La Paz, Trigo, and Farrar Placers had been extensively worked by people the Indians would not discuss. By 1866 the La Paz diggings had extended around the Dome Rock Mountains west of Jackpot and into Goodman Arroyo, Arroyo La Paz, Farrar Gulch, and over into Middle Camp and southward into the Orb Fino and La Cholla Placers.

In 1873, the U.S. Government extended the Colorado River Indian Reservation southward, and another south extension was granted in 1876, which included most of the La Paz Placers. This greatly restricted mining and the La Paz placers were practically deserted, with most of the mining moving eastward to the Plomosa Mountains. Here again the placer miners found that an earlier people had mined the Plomosa Placers, with most work within the shallow ground where the bed rock was easily reached. By 1878, the Plomosa Placer, New York Placer (Smith Wash), and the Plomosita Placers were being worked. These placers extended southward along the western slope of the Plomosa Mountains and west of Scaddan Peak and Elephant Back Peaks.

The gold was recovered entirely by dry washing in gold pans or wooden bowls called "bateas". Picks and shovels were used to break up and handle the gold bearing material, and then it was processed for dry washing by using steel bars three or four feet long as pestles beating the rock in mortars. With such crude methods the miners were only able to recover the coarser gold and they threw away all the lead and iron that contained fine gold, as this interfered with their dry washing. It is estimated that over three million dollars worth of gold was recovered in the years 1868 to 1908.

The gold nuggets recovered in the late 1800’s ranged in value from five cents to 10 dollars. Slugs of gold commonly contained in the bedrock crevices were worth $20 $40. The largest nugget found was valued at over $1100. With the introduction of the dry washing machine, the average hard working miner was able to make over $100 per day when gold was priced at $20.40 per ounce. In 1916, dry placer operations were successful in the Plomosa district, with depths of 20 to 30 feet being the lower limit to mining and a plant capacity of 1000 yards. The 1901 to 1931 value of production from the Plomosa placer district was stated as $44,826, and there were 100 men working the district during the 1932 to 1933 winter.

PLOMOSA DISTRICT: is near the town of Quartzite on La Posa Plain, between the Plomosa Mountains on the east and the Dome Rock Mountains on the west. This is mainly a placer district; however, gold, copper, and lead have been produced from lode mines. In 1862, prospectors on their way west to the rich La Pat gravels found placers on the east side of the Dome Rock Mountains, at Oro Fine, La Cholla, and Middle Camp. These were worked intermittently until the 1950's, and several unsuccessful attempts were made to mine the gravels on a large scale. Gold, copper, and lead veins were exploited after 1900 but their yield was small. Total gold production of the district through 1959 was about 24,570 ounces: about 19,400 from placers and 5,000 from lodes.

Modern Mining History

American Bonanza Gold Corp, currently trading on the Nasdaq and American Stock Exchange, took over the Cypress mining project in Quartzsite Arizona (reverse merger), which previously mined over 500,000 ounces of gold on the same trend as the Plomosa 19 Placer Project (Walker Lane), and has identified an additional reserve of 410,000 ounces. American Bonanza is currently drilling and blocking the reserve, and preparing for a large scale mining operation.

The Mesquite Mine was operated between 1985 - 2001 by Goldfields Mining Corporation, Sante Fe Minerals Corporation, and finally Newmont Mining Corporation, who suspended the mining operations in 2001 due to low gold prices and unfavorable economics to continue a mine expansion. At the time of closure, Newmont continued the permitting process for a mine expansion. The expansion permit was approved on July 16, 2002, but due to low gold prices Newmont elected not to reactivate mining at Mesquite. Western Goldfields, Inc. acquired the mine in 2003 and has continued to produce gold from ore placed on heaps by the previous owners.