updated 2015 Mining in the Margaret/Winston/Packwood?

[CAMPMEAT]

We have a gold mine near Curlew. It took nearly 30 years to get the greenies off their backs with lawsuits etc and to get all their mining permits. A lot of you will never see any mining activity because you'll be dead and gone.

[Kola16]

I think that there is a lot more info that I need to know, but typically I say drill. I wouldn't want Canadians drilling though 

[fireweed]

#1, They've invested over $122 million dollars on this project already, seems like a lot of money just to dump it. .

Where and what did they invest that kind of money on up there.  They drilled a few holes last year, and did an EA, maybe rented an "office" in Morton.  A few years ago a "claim" up there sold for a whopping $20,000 (yes, 20-thousand bucks--price of a used car).  Where did you get that number?

[Special T]

THANKYOU Rock Knocker! that is the kind of info we needed. And from your handle i'm guessing you have some pecial insight to that kind of stuff! 

[CAMPMEAT]

Well ya know boys and girl's, the Canadians drill and have a lot of knowledge and experience about drilling. We have companies from Utah and Arizona working up here. It's all about money and reliability for results.

[fireweed]

Go to Ascot Resources website and check them out. http://www.ascotresources.ca/s/MtMargaret.asp?reportid=493881
Behind the smoke and mirrors it is clear  this "company" is incapable of actually mining here!  They have three "projects" total.  1) an old gold mine (where they don't actually say they plan to start mining)  2) a GRAVEL mine aka gravel pit  3) Mt. Margaret. 

Here's what they will pay for Mt. Margaret: $400,000 so far with 1.6 million due in a year. 

There stock as of today was worth 88-cents a share.

It is a Junior resource company and states: "The Company's focus is exploring for gold, silver and copper in North America"  They don't even claim to be mining!  This is simply an exploring company looking to turn this over for a profit, and dangling the promise of jobs in front of locals to get their support.  Jobs that they have no capability of producing.

[Special T]

It sound to me like Ascot is just like a home flipper. They go in look around and buy a fixer upper and then try and sell it. some times it works some times not.

[CAMPMEAT]

We had companies from all over drilling and taking samples a couple years ago. They were hired by the mine to explore for them.

[fireweed]

I see another possibility for them to make Money--from taxpayers.  (Just like some timber-development companies) they buy up property destined to be controversial next to a National park/Wilderness area/ National Monument etc.  Then propose a mega-mine or mega-development (whether they have the where-with-all to actually complete such a project). Sit back and wait for the enviro-outcry.  Then they say, oh, we could sell it back to the government, for a tidy profit, without actually having to do anything, invest anything, or mine anything.  Happens all the time. 

[Special T]

could be but i thought you said this was BLM or some other public land anyway? 

[Huntbear]

could be but i thought you said this was BLM or some other public land anyway? 

This is National Forest.. immediately joined to the Volcanic Nat'l. Monument.... literally a stones throw away...  immediatly north of the east end of the Margaret, along the Green River

[Special T]

Ok so its already public land so a quick flip for the land isn't possible but they could be flipping for the "rights" to mine.

[fireweed]

The surface land is mostly USFS, already purchased for  by the trust for public land for recreation.  Should be protected right??  What they are looking at now is the underground mineral rights.  Although the USFS owns half- the rights already, they would want the gov. to buy out the remaining 50% of the mineral rights that is in private ownership.  Of this land 3/4 is owned by the USFS (surface and 50% mineral rights) and 1/4 owned by private.

[tbuck6568]

Fireweed, you're right. I messed up the investment number, maybe I fat fingered it or read that number on a different article. The investment number total is $2 million. Still a big amount of money to just dump. Sorry it took a bit for me to get back, been on vacation!

[fireweed]

http://www.columbian.com/news/2015/jan/06/company-drops-drilling-plan-near-mount-st-helens/