What's Happening Now
FHMC is currently preparing an OOM report, mining permit for a Small Mining Permit, engineering studies, planning for the sustainable development of water treatment and management procedures and systems for the Ferris-Haggarty Mine. It is currently planned to develop an open cut at the outcrop of gossan near shaft one, directly over the older workings and slightly N.W. of the old Bonanza Stope and mine the known gossan deposits within the first 35 - 65 feet of the surface. This deposit has been tested at .25 opt gold.
The historical records indicate, along with the geological survey and sampling that the original discovery occurred when a gossan outcrop was noticed by Ed Haggarty. Shaft #1 was developed in 35 feet of solid gossan when they hit high-grade Bornite. Historically, gossan usually accompanies copper, gold and silver deposits.
This outcrop of gossan rests on top of the ore body beginning at the surface and continuing down-dip to as much as 65 feet in places. The gossan does not have any notable copper values. However, the gold value runs the same as the average Au deposit within the copper ore at .25 opt avg. gold value.
2015 - The coffee colored quartz is Gossan. This discovery pit at Ferris-Haggarty Mine. Many samples have been taken and independently assayed from this gossan pit and reported to reflect the gold content from .25 opt gold and higher.
It is inferred that the copper mineral has leached out of the gossan over millions of years and re-deposited further down-dip, leaving behind the gold values. This process of mineral extraction is a very simple one indeed. Once the gossan has been extracted, we will ship it to our processing facility to be crushed, pulverized, create a water slurry to remove and concentrate gold and finish by table separation. The gold concentrated is then smelted at our lab in Craig, CO into Dore bars to then be shipped to David H. Fell in Arizona for refining to a 999 fine standard bullion. The refined bullion will then be ready for public sale.
This production effort at the Ferris-Haggarty will only disturb less than five acres in total. No chemicals will be introduced or used in the gossan extraction process. No water discharge will occur during production or post-production activities, including reclamation of the open cut area.
FHMC anticipates the recovery of more than $15 million in gold values based on $1,100.00 per ounce. This plan allows FHMC to become self-funding through these efforts. It is our opinion that revenues produced by targeting the low-hanging-fruit enable FHMC to quickly pay back early investment partners and finance ongoing professional pre-feasibility studies and perform Environmental Impact Studies (EIS). It is our intent to fully investigate all of our options that best resolve past water concerns and eliminate any potential negative environmental impact or effect concerning the bio-diversity of Haggarty Creek or other tributaries.
FHMC Rare Earth Elements
FHMC will be producing, once in operation, many thousand of tons of Heavy Rare Earth Elements (HREE) from our Colorado Gold Placer Mining Operations. The current global demand for HREE are extremely high and shall continue for the foreseeable future.
Within our website content, we provide information regarding the values associated with our Placer operations. In part, our Placers produce >16.5% black sands. Of that 16.5%, 3+ % are HREE, with 2% Monazite and Zirconium. All of the important Lanthanide series are contained within our black sands, along with very high concentrations of Thorium.
Below is a video from MIT Technology Review regarding the need and value of Rare Earth Magnets. Magnets that FHMC plans in the very near future to produce once our labs and manufacturing plant have been established. China controls 95+% of all HREE production and distribution. It is our intent to change that percentage significantly.