A $567.00 Silver Investment

[IdahoCopper]

I pulled the trigger last week on 3 silver mining claims in the mountains about 100 miles from my house. The cost was $567.00 to BLM to register the three 600' x 1500' claims. The annual renewals are $15 per year each. They are all within a couple miles of each other.

In the immediate area are a lot of old silver diggings that date back to the mid-1800s, which were actively worked up until WW2. After the war, most of the mining ceased, due to low silver prices, and many miners not returning from war.

Now days the major part of the area is claimed by some big outfits. My claims are sited in areas that they would need to get all of, to conduct a major operation.

So its either a real estate investment. with plan B just selling the claims to the big guys; or its an opportunity to try some silver lode mining (plan A). One of my claims has a tunnel going into the mountainside. When the snow melts in a couple months, I'll go up there for a week and poke around again.

For Idaho, its a nice area for recreation and hunting. The law permits the use of all resources found on the claims to develop mining activities. I wonder if elk and deer count as "resources"? LOL!

[beauanderos]

Sounds like a lot of fun, good luck with both plans. If you get lucky, of course, it will mean changing your name

[TXBullion]

Yea, and watch out in those tunnels

[beauanderos]

Yea, and watch out in those tunnels

You might have to learn how to play the piano... as in "A flat minor"

[IdahoCopper]

Very funny, Beau. I'm well aware of the safety requirements. I'll be sure to take the proper precautions.

It will be nice to have a real good excuse to go camping a lot this year.

[Pachucko]

That sounds awesome man. Best of luck to you. I was thinking the same thing about the camping. Where could someone go to learn about this? I think it would be a great way to spend some time with my son.

[jasmatk]

sounds like a fun hobby.how are you planning on mining this land just dig around with a shovel?good luck and I hope to be reading some posts from idahosilver here shortly

[Copper Catcher]

This is a neat read...

LODE MINING IN IDAHO, 1864-1869
http://history.idaho.gov/Reference%20Series/0167.pdf

[rainsonme]

regarding a great way to spend time with your son ----- I'd suggest gold panning. It is just like fishing, only you don't have to fool around with hooks and fish. And you can definitely get some "color" in your pan. But old mines are very danagerous. I looked at a mine for sale in eastern oregon; deep verticle shafts filled with bad water, covered wtih rotting boards; old timbers holding up sagging rock slides. Not a good place for a kid, in my poor opinion. A beautiful stream up in the mountains on the other hand ---- I've had a lot of fun with my kids; I'd pan for gold, and the kids would pan for about 30 minutes, then go play in the water.

[Tourney64]

Sounds like a great investment. Be safe and keep us updated.

[IdahoCopper]

I'd have to agree with Rainsonme. Hard rock mining is not for kids. Gold panning would be a lot more fun, and safer with your kids.

When I staked the corners of the claims last fall, I didn't enter the mineshaft. It has a horizontal entry at the opening, but there could be vertical shafts inside. Proper care, safety equipment, and a lot of lights is the only way to enter a mine tunnel.

The claims are between 6200 and 6500 feet altitude, so the snow will be in the way until April or so.

This mining area was abandoned in the 1940s, not because the silver ore was played out, but because the price to sell the silver was too low to be economical. With it now above $25/oz, and climbing, mining there is getting close to being economical again.

I plan on getting to the head of that tunnel and seeing what was being dug at the end. With luck, the ore could could assay well, and who knows, it could even get richer the deeper in I get. If it assays well, I will contact the big company that has a lot of nearby claims and see if a deal can be made.

As for the other two claims, I'll go over them with the metal detector, study every clue & rock outcrop, and see if I find anything interesting.

Its going to be several months before I can report any good news about this venture, but until then I'm glad to discuss.

[SilverFossil64]

For my 16th birthday (a long time ago) my uncle took me gold mining with him. It was a very fun experience doing some dredging in a freezing cold river and some panning. We also found wild blackberries. Highly recommend it as an outdoor hobby to do with family.