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U.S. Geological Survey
Abstract of Resources Investigations for Arizona
Gold placer and lode deposits, Gold Basin and Lost Basin
P.M. Blacet's studies of lode and placer gold deposits in the Gold Basin-Lost Basin area South of Lake Mead in northwestern Arizona, indicate that detrital gold, eroded from
Upper Precambrian quartz-carbonate-sulfides -gold veins, is widely distributed in fanglomerate of late Tertiary and Quaternary age. Placer mining of unconsolidated arroyo
gravels largely derived from underlying Pliocene Fanglomerates was done over an area of 8 to 10 square miles in the vicinity of the King Tut mine. The gold content of these arroyo gravels are highly variable, but the average grade mined since their discovery in 1931 has probably been about 0.04 - 0.05 oz gold per cu. yd. Little is known about the average content or distribution of gold in the parent Fanglomerates, but it appears geologically reasonable that the potential resources in which the 1,280 acres of the Bahde Claims lie. The King Tut area may exceed
500 million cu. yds. of gravel averaging 0.01 -0.02 oz. per cu. yd. Accurate sampling of the Fanglomerates is made difficult by the coarseness of the detrital gold (commonly 50 percent of the gold is in ragged grains a millimeter or more across) and by seemingly erratic distribution.
Careful examination of the coarse placer gold indicated that nuggets at least as large as 0.36 oz. are detrital; rather than accretionary origin. Rhombohhedral and cubic molds, as well as pyrite pseudomphs. are commonly well preserved in the coarse placer gold.
Since the advent of mtal detecting for gold nuggets in the past 8 years many nuggets in the one and two ounce range are common place. Nuggets as large as 43 ounces have been found.
1. The area of placer gold deposits covered by this report are stated as being in the area of the King Tut mine which includes the area of the five (approximately) square miles and the two square miles of Bahde Gold claims.
2. It is stated in the report that the gold resources of the area may exceed 200 million cu. yds averaging 0.01 to 0.02 oz. per cu. yd. This would represent a total value with gold price of $250 per oz of $5.25 to $15.5 Million.
3.The recovery grades determined over the recent testing exceed the grades stated in 2 above by at least ten fold, which bring the potential values even higher then the Economic Evaluation of the Andreen Report of 1998.
The unknown factor is the probability of large reserves of Gold and other valuable strategic minerals in Lode. By the fact of the large Quartz and other gold bearing Veins and "bodies". Both visible and invisible reserves which have a good probability of over shadowing of the placer reserves. This is especially apparent at the Bahde Claims in Gold Basin.
In the mean time with time itself, natural erosion and man made excavation. Nuggets of great size are being found every day which may be the real wealth hidden in and out of the placer and lode deposits laying deep under ground. These type of ore bodies are known to exist very deep below the surface where the values should and will increase. The possiblity of this great store of rich minerals in lode will outshine the known reserves in placer.
