3/1/02

A Small Hard Rock Gold Mining Operation For Sale in Oatman

Asking $1.1 Million

No Current Contact Information

The property covers six claims on over 100 patented acres in the Oatman Mining District, 32 miles southwest of Kingman, 10 miles east of Fort Mojave, 4 miles north of Oatman, via paved, graded, and double-track road.

The Oatman Mining District has so far produced about 2 million ounces of gold and 700,000 ounces of silver.

The offer includes a house, shop, outbuildings, two wells, and complete mining and processing equipment.

There are three shafts on the claims. In 1995, working with five men, the owner recovered 16 to 20 ounces a week from one shaft, with a production cost of $112 per ounce. The bullion was around 50% silver.

The mine is remote, but accessible, with guaranteed access from east and west. Power is generated on-site, with one 11,000 Watt Honda and one 12,000 Watt Hobart generator/arc welder. Cell phone service is available.

Bullhead City is 10 miles away on the Colorado River via Silver Creek Road. Growing fast, the city has enough water to support almost 100,000 people, with a current population under 40,000.

The claims are surrounded by public Bureau of Land Management (BLM) land adjacent to the Mt. Nutt (27,660 acres) and Warm Springs (112,400 acres) wilderness areas. The public lands contain many springs and abundant wildlife, including several hundred wild burros, and thriving herds of desert bighorn sheep.

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joe@gazette9.com

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