What is happening in GOLD RUSH California
Page 1 of 3 |
For all those who have poo-pooed the notion that less than 3 to 5 percent of the placer gold available has actually been recovered from U.S. Geological Survey Geologist Waldemar Lingren’s (The Tertiary Gravels of the Sierra Nevada of California, USGS Prof. Paper 73, 1911) “Great American River” that flowed out of the Blue Mountains of Oregon, depositing river-rounded boulders on ridges 4,000 feet above the Trinity River, know that the California Gold Rush is not over. Every time it rains —even in the Las Angeles area, the natural sluice boxes of flash flooded creeks, once again become producers.
Recently a 100-ounce gold nugget (named the Washington) was found in an un mined section of the Omega-Malakoff Tertiary Channel near Nevada City, California. This nugget is up for auction soon, and as any nugget classified as “jewelry gold” or a “collector”, is worth more per ounce than bullion bars, it is expected to sell for $250,000-$400,000 — depending upon raising spot prices, and as reported in recent headlines, what China, already the world’s largest gold producer, “who has stunned precious metals traders,” with their unbelievable demand to buy more.
Given the dreary economic news today, including overpaid California bureaucrats fearing for their paychecks from an almost bankrupt government, one would think the stimuli would be to “head for the hills.”
 |
Placer Examination
|