what is the story behind gold

Discussion in 'General Discussion' started by cycloneman, Feb 5, 2012.

  1. cycloneman

    cycloneman Well-Known Member

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    I have been watching these gold tv shows. Bearing sea gold and the other one.

    Here is what I want to know. How do they know where to find gold and why is it gold is found is such small amounts. Lots of digging to get what amounts to gold dust. Why is gold found like this in small amounts?
  2. geds

    geds New Member

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    Down here the gold was actually bound in quartzite veins. The gold itself was in such small amounts it could not be seen with the naked eye. The quartzite was mined and crushed. Then the gold was chemically extracted.

    It is an element and is so valuable it makes it cost effective to move tons of material to get ounces of gold. There are very few gold seams.
  3. Rhuga

    Rhuga Member

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    Being a weekend miner for a lot of years and having studied the subject to death I find that yours is a common question.

    Parable: Gold is associated with quartz, but quartz is not associated with gold. Gold is everywhere in placer form. But maybe not in an amount that is profitable to mine. Gold mining is not easy. When you spend 8 hours on the work end of a pick and shovel in hard pan. This usually separates the pilgrim from the true miner. Because, to find the gold requires alot of sampling and this requires digging. A lot of gold is found in desert regions that makes it tougher due to the lack of water and heat.

    If you do make a small find you will have more digging and pick work. Unless, you have lots of money and can excavate your deposit and pay folks to do it for you. 1 to 3 oz of gold to the ton of ore is a pretty good find that is if your "diggins" are not on someone else's claim. Most gold is found in an area where gold was found once before and "there is always 1 more place that someone has not looked."

    Gold mining is in 3 forms:
    1. The finding of a ore bearing deposit and being able to file a claim on same.
    2. Then getting the ore out in various ways and down to a manageable amount of ore.
    2. Processing your ore and getting the gold out. One screw up in either of these steps will result in nada gold. I used to process my gold in my garage and I screwed up plenty until I found out how to "tickle" the ore and retrieve the gold. I have one of the richest dirt drive ways to my garage from shabby processing for a lot of reasons from when I first started. There is the "load" or gold vein and the "Placer" is the gold that has weathered from the load and moved over many thousands or millions of years by many ways, but usually by water.

    "Nugget Shooting" with a metal detector is the easiest. But here again, bad use of the detector or having a detector that is not discriminating enough you will end up with Nada gold again. Also, No experiences concerning other types of ores or jewels could be bad news, cause you could be walking over a big strike and not know it.

    There is a lot of places I would like to mine, but i got too old to do it anymore. One thing is for certain. Once you seriously go prospecting you will never look at a mountain or creek the same way again. Some of my best finds were in "red" or iron bearing clay. This stuff was like trying to dig in cement. You can't mine wet clay until it has dried. Thus, the hard pan. Gold ore is very hard to separate from wet clay. I found a pocket (Glory Hole) of about 7'x6'x4' and in it I found 54 nuggets the size of your little finger nail to your thumb. As gold travels from the load it usually hits something that stops it from going further and due to its weight going deeper as it settles. Creeks or rivers, their banks, and dry creek beds are always worth a good look. But, gold is where you find it. An area can look good and have all the signs but not have a particle of gold. I have made good finds in areas that didn't look promising at all.

    This is just a very general answer to your question. So, should you want to try it the best of luck to you. Your memories will be priceless. Check out "The Treasure Of The Sierra Madre" with Humphrey Bogart. I always get the itch after watching it. "The Mother Load" with Charlton Heston is another goodie. At the current price of gold at about $1600.00 a troy ounce is not too shabby compared to when the US went off the gold standard in the early 1970's and gold was at about $19.00 and ounce. So before the 1970's the find had to be pretty rich to mine it. Today, there are many good areas that were walked over by the old guys to look into at the current price and still make a good profit.
    Last edited: Feb 6, 2012
  4. mjp28

    mjp28 Well-Known Member

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    Another reason gold is HOT, look at the charts below, I remember $35/oz. in my lifetime! Most of the easy to get surface gold has been mined out. A thick vein of gold is the story of the Gold Rush Days....but if you find one now you'd be super rich!

    The price of gold remained remarkably stable for long periods of time. For example, Sir Isaac Newton, as master of the U.K. Mint, set the gold price at L3.17s. 10d. per troy ounce in 1717, and it remained effectively the same for two hundred years until 1914. The only exception was during the Napoleonic wars from 1797 to 1821.

    The official U.S. Government gold price has changed only four times from 1792 to the present. Starting at $19.75 per troy ounce, raised to $20.67 in 1834, and $35 in 1934. In 1972, the price was raised to $38 and then to $42.22 in 1973. A two-tiered pricing system was created in 1968, and the market price for gold has been free to fluctuate since then as the table below shows.

    http://www.nma.org/pdf/gold/his_gold_prices.pdf
    Year/Average Price

    1998 294.24
    1999 278.98
    2000 279.11
    2001 271.04
    2002 309.73
    2003 363.38
    2004 409.72
    2005 444.74
    2006 603.46
    2007 695.39
    2008 871.96
    2009 972.35
    2010 1,224.53
    2011 1,571.52
    Last edited: Feb 5, 2012
  5. mjp28

    mjp28 Well-Known Member

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    This also is why almost nobody can buy gold jewelry anymore.
  6. Zhurh

    Zhurh Active Member

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    There's gold in all the streams around where I live, not many people run dredges. Easier ways to make money. All kinds of expenses & logistics & planning & hauling everything 50 miles back in at minus 50 when we have winter trails. Govt doesn't want Americans hunting gold, make it tougher every year. Successful types have a knack at finding it and disappear in May when they head back in and don't come out until October at freeze up. A lifestyle most people with families don't enjoy, fighting the bear & bugs too.

    Maybe one guy in 20 that invests all kinds of money into equipment, atvs, backhoes, boats to get up small rivers actually makes money at it, most go broke. We have one local guy who does good, makes couple hundred thou I hear at it, but a real loner at heart. This guy actually spent the summer up near Nome with 50-70 foot boat, he has cabin in our town, but didn't come back last fall. I haven't heard how he did. One friend mined with him 20 years back for a couple weeks. They got 40 some ounces out a small section of stream that apparently hadn't ever been excavated down to hard pan. My friend said this guy can smell where nobody's already dredged a 100 years back.

    Locals buy claims and lease them to lower 48ers who come to Alaska to get rich finding gold, the owners are only people who clean up.

    I live 110 miles downriver from Dawson, I've seen so many people start at it and quit alot broker that I have no interest in getting the disease. Good hobby for a couple weeks every summer though if you can keep it at that????? No joke. Who knows, maybe someday it will get so bad that everybody around here will start huntin gold again.
  7. cycloneman

    cycloneman Well-Known Member

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    i was kinda courious as to why it is in certain areas. But as i understand it now gold is everywhere and the best way to find it is at the bottom of where water has eroded the earth for a very long time.

    OK

    kinda neat that the creator put gold on the earth in such a way so we could use it for a thing of value.
  8. Silencer

    Silencer Well-Known Member

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    A gold asteroid hit the Earth and it spread all over the world. This asteroid is one of the eight that hit the Earth and ended all life.
  9. raven818

    raven818 Well-Known Member Supporting Member

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    It's a very shaky investment. If you've had gold for a while, good for you. If you're looking to buy, don't, unless your liquid enough to put it away. The better our economy gets, the lower gold drops.

  10. cycloneman

    cycloneman Well-Known Member

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    Guys i am not interested in prospecting for gold. Nor an i going to invest in gold. I was honestly courious to know more about it. Thanks for the info.
  11. Millwright

    Millwright Well-Known Member

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    First/foremost research how gold deposits are formed ! Then look at how it becomes accessible. In some ways gold is a common element existing everywhere. (Sea water contains a fair amount of it, for instance.) But finding gold in accessible forms and economically -viable quantities is a horse of a different color !

    I'm confident there's a lot of gold remaining to be discovered/mined in N.A. thanks to our geology. But don't be mislead by popular reality shows on gold mining ! Mostly they're seeking/exploiting placer deposits resulting from geological events millions of years past ! IOW, they're mostly like a beagle on the trail of a very wiley rabbit ! Every placer miner eventually learns to "work up" the watershed he's searching to find the source of the gold he's finding. In a rational world the further "up" you go the richer/larger the placer gold you find........Alas that's not always the case ! And in desert areas the search becomes even more difficult !

    But, hey, if you've got the bucks its always possible to mine old "gob piles" profitably, too !

    IOW, these "Reality TV "shows are shot/cut for suspense/results not neccessarily congruent with the realy world. "Jest sayin' " >MW
  12. geds

    geds New Member

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    Wait....are you implying that Reality TV is not really reality? - Oh, say it ain't so Joe! :D
  13. mjp28

    mjp28 Well-Known Member

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    Just curious where you got that data, any links or whatever?

    As far as gold and gold stocks I've played around with the stocks before (I'm out now). And the gold for companies to mine is getting harder and harder to find and more expensive to operate.

    Only the high prices are keeping it interesting to play with.
  14. Charles Christensen

    Charles Christensen New Member

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    It might be cheaper to go SCUBA diving looking for sunken Spanish galleons. Better weather too.
  15. Grizz

    Grizz Active Member

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    Love that movie "Treasure of sierra madre" got to dig that one up and watch again tonight!
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