Black Swan Advisors (BSA) Acquires Second Underground Gold Mine In Western US
BSA has acquired a second underground gold mine, the Radcliffe/Worldbeater mine, in Inyo County, Ca., close to its Keystone mine. Radcliffe contains approximately 350,000/400,000 ounces of gold, .4 to .7 OPT. BSA is planning to re-start mining operations in Q1 2019. BSA is also looking for additional gold mine acquisitions in Ca. and Nevada.
NEWPORT BEACH, Calif., Oct. 11, 2018 /PRNewswire-PRWeb/ -- October 5, 2018, Inyo County, Ca. Black Swan Advisors (BSA), with its partner BMC (BSA/BMC) recently completed the acquisition of the Radcliffe/Worldbeater (Radcliffe) mine complex in Panamint Valley, Inyo County, Ca. This follows the prior acquisition of Keystone mine within 15 miles of Radcliffe. BSA continues to look for additional acquisitions of previously operating mines.
Radcliffe is situated on 1,650 acres; 135 acres of patented land and 1,515 acres of unpatented BLM claims. Radcliffe also includes the historic Old Radcliffe and Worldbeater mine complexes last operated around 1940. BSA is reviewing additional mining opportunities in those areas of the site. In a portion of the property Radcliffe has a 43 101 compliant report showing 210,000 ounces of gold, to an Indicated level. BSA will soon have the 43 101 updated to reflect new ownership and mining conditions.
Additionally, BSA has engaged a new geologic analysis of the site. Based on this new information BSA believes the total resource at the site will increase to between 350,000 and 400,000 ounces, including the Old Radcliffe and Worldbeater mines.
Radcliffe has full permits for the operation of underground gold mines within the 135 acres of patented mining claims. BSA has targeted its first area for immediate development of 100,000 + ounces of gold with grades of .5+ Ounces Per Ton. BSA has contracted with Practical Mining of Elko, Nevada for a mine plan for this area. BSA is also permitted for additional development sites in this area. BSA is interviewing contracting companies, metallurgists, and others for roles in the development of Radcliffe. Interested parties should contact Charles McLaughlin at BSA ([email protected]) with qualifying background information.
According to Charles McLaughlin, President of BSA/BMC, "We are also seeking additional gold mine acquisitions in the western US, California, Nevada, Utah, and other close by locations. Public companies with operating mines or near-operating mines are of primary interest."Interested parties should contact BSA/BMC at the above noted email address. BSA/BMC will also consider the investment of venture capital into qualifying gold mine opportunities.
The 2 BSA/BMC mines are debt free, no partners, and no royalties. BSA is also interested in opportunities to contribute its debt free mines to a public company for shares in the public company. Additionally, BSA will consider joint ventures with mining-oriented capital partners. BSA estimates it will require $25 to 30 Million of additional capital for the development of both mines.
Concurrently, BSA is completing a Plan of Operations (POO) modification for the Keystone mine, which modification includes an Environmental Assessment (EA) update covering a surface mining program in previously disturbed mine maintenance road areas surrounding the existing Keystone mine. The EA has been recently completed and is being circulated for public comment. BSA expects this part of the process to be completed by the end of October 2018.
Keystone is situated on approximately 1,000 acres of arid hillside 15 miles south of Radcliffe. Keystone is wholly within 48 BLM lode claims and 4 mill site claims. While a compliant 43 101 does not exist for Keystone, its 70 years of operating history have provided a significant body of evidence as to the minerology which exists. In a 2015 geologic study the geologist estimated some 200,000 ounces of gold in the south half of the property, with grades evident in the .4 to .7 OPT. The north half of the property, 1.5 miles north to south and 2.0 miles east to west, contains grades and mineralization very similar to the south half.
The proposed drilling program will be completed upon approval on the south side of the property only.
Keystone's POO provides for a full mining program covering the south side of Goler Wash Road. Also contained in the 1981 approved POO is an on site cyanide processing facility. The POO also contains a 1941 issued state water permit with valid prior rights of use ahead of all local claims.
SOURCE Blackswan
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