Gold Mining in Nevada
Historical Prices of Gold
Timeline of Events Leading to the Marietta Hill Gold Discovery
In 2007 geologist friend of Alan Chamberlain, Larry McMaster, discovered gold on the Marietta site when searching for copper.
There were little results for copper, but very promising results for gold in the tests from the laboratory.
The Gold discovery was reported by Larry to the current owner
But the current owner was only concerned with copper and ignored the findings of gold
Alan and Larry executed a purchase agreement for the mining rights to the land
They agreed upon a $500,000 purchase price with the current owner getting 1% of the extracted gold proceeds
Analysis of the samples from exploratory bore holes determines an estimated 30,000 ounces of gold
14 shallow bore holes were dug and upon examination of the samples it was estimated that there should be anywhere from 30,000 to 60,000 ounces of gold. That's at least $53,490,000 at today's price per ounce of gold.