- For sale - $null.00 M
The owners are willing to sell the property for $33,000,000, or do a joint venture from $1,900,000 to $6,000,000. An investment of $7,900,000 may return $79,000,000, or ten times at 43% net-profit share. When the investor has received a net return of $79,000,000, he will receive a 15% net-profit share for the mine life. This is a Gold and Silver mine just 9 miles outside of Georgetown, in the heart of the Colorado Rockies. This is a combination of both patented land and mining claims. The mine has produced 20,000+ ounces of gold based on incomplete historical records. In the Santiago Ore shoot alone there is an estimated 2016000 ounces of gold and 4,320,000 ounces of silver, with proven: 60,000 tons of reserves. Estimated total reserves are at: 240,000 tons. The mine also produces copper 3.31% and lead 6.06%. The gold averages .84 oz./ton gold; 20.7 oz./ton silver. The mine is currently inactive. Permits NOI and 110-2; jumbos, haulage, milling equipment are included with the purchase. The total acreage is 160 acres (120 acres plus 40 acres pending filing for CNC members). In lieu of NI43-101, because of extensive records of tunnel-stope maps, shipping, milling and smelters of Santiago properties and seven other adjacent, proven-mine properties along with hundreds of assays, historical records from personal files, Colorado School of Mines, Bureau of Mines, Bureau of Land Management, historical files of Clear Creek County, geological records from a geological engineer, Mosch; beneficiation study of proven reserves; engineering reports from McFadden, and many others, gives Santiago Mining Company a fair head start for completion of an NI43-101 study to be completed in year three, as mentioned in the Executive Summary. Through review of company archives by a qualified geological engineer, it will be clear regarding Company mining concepts for Santiago Mines on Mt. McCLellan. Option #1 $1.9 million to begin Mining Secured with a $2,850,000 payback. Investment of $1.9 million, fully protected to be used for the following: Site and above ground development, including early recovery of the estimated 60,000 tons of verifiable, already mined ore and below ground drifting on ore in pursuit of opening Santiago ore bodies. This first phase of construction and development will take on full mining season. At season’s end, the investor will inspect development work and decide on participating in the Joint Venture. Option #2 $Investment of $6 million to include participation in a Joint Venture with equity and net profit sharing for the life of the mine (estimated to be 62.5 years). An average 6 month mining season will return the Joint Venture Partner the average of $11.5 million net revenue per year starting at the end of the ramp up period or $345 million in the first half of the estimated years of mine operation. If Option #2 is not exercised, the investment capital of $1,9 million will be secured with prove, processed, already mined reserves and other equities on newly mined ores until the investor receives a return of $2,850,000. This will terminate Option #1, and the investor will have no further involvement in the Santiago Mines.