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 leasee at that time
But the current leasee at the time was only concerned about the potential of a porphyry copper deposit and ignored the potential of a gold and silver deposit.
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 prospect pits determines an estimated 30,000-90,000 ounces of gold
Nine prospect pits were dug around the periphery of the ore deposit, and upon analyzing the samples from the prospect pits it is estimated that there should be anywhere from 30,000 to 90,000 ounces of gold, and there’s about an equal amount of silver. That’s at least $57,926,400 at today’s (03/21/2022) spot price of $1930.88 per ounce of gold and at least $754,725 at today’s (03/21/2022) spot price of $25.1575 per ounce of silver.