NORTHEAST OREGON GOLD MINING
This is a first time offering for the opportunity to own a substantial mining / recreational property in Northeast Oregon. The Property known collectively as the Cable Cove Mines consists of 257 deeded acres located in the Blue Mountains of Baker and Grant Counties. The mines are named the California and Imperial Eagle mines which are adjacent to the Wallowa Whitman National Forest and just 11 miles from Sumpter, Oregon. For anyone who is unfamiliar with the region, the historic production of gold and silver in this region was epic; this property is the gem of them all.
The California Mine is one of the oldest in the State of Oregon, located in 1873. This area went into production in and around 1900 after the transcontinental railroad came through in 1885.
Historic production and development of large quartz veins reportedly yielded vast quantities of high grade ore containing Gold, Silver and other precious metals. Extensive drilling and testing were done in 1982 when gold had dipped to nearly $200 per ounce and the mining stopped. It was reported that there are multiple veins up to 1,750 feet in length and 5 feet wide. There is also considerable ore reported in the mine dumps that exist for reprocessing. With current escalation in price, there is a resurgence of interest in mining. While it is inappropriate to represent quantities, the earlier studies indicate substantial resources exist and the earlier mining of rather primitive means barely scratched the surface of the reported and potential quantities of a variety of precious metals.
The current owners would like to see someone develop this opportunity and have priced it to sell the property reserving a minimal royalty to be negotiated upon sale and developed production. This is a first time offering and we look forward to sharing this tremendous opportunity. $4,950,000