The Ruby Mine is located between Downieville and Forest City, in Sierra County, California, approximately 100 miles north of Sacramento and 90 miles west of Reno, NV. Geologists have proposed that with careful evaluation and a judicious drilling program a substantial new resource could be uncovered.
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Using modern geological concepts & technologies that have emerged around the world in other gold mining areas, Discovery Geologists will use experience gained in the past 40 years were shut down mines have often doubled their original output of gold by starting new operations adjacent to and underneath these previous operations. Although only worked at very shallow depths underfoot from the main Ruby access tunnel, the production was reported to have averaged 10 grams per ton of gold at working widths. There are clear indications of this occurrence in the Wolf Vein that produced 1625 oz of gold by the earlier miners from the vertical greenstone formation that underlies the buried river channels. The Discovery Minerals Geologists will be investigating this greenstone belt. In addition to the well-established placer ore that will be mined initially, one of the most exciting features of the Ruby mine is the large greenstone belt formed in the Archean Age that is largely unexplored and is the source of the placer gold. Historically the channels have produced up to 106,000 oz per mile, indicating a potential of 370,000 oz of gold still to be mined from the buried placer. There are 3.5 miles of river channels yet to be mined on the Ruby mining claims. Placer refers to mining the buried watercourse riverbed at Ruby. It is conservatively estimated that 134,844 ounces of gold are available for near-term recovery from identified channels using the existing Ruby infrastructure. The Ruby is also renowned for its production of course and jewelers-grade gold, with the largest gold nugget weighing 201 ounces or 17 pounds. It features a system of gold-bearing Tertiary channels which have been reported to have already produced over 250,000 ounces of gold. The Ruby is one of California’s best-known buried placer mines and is considered by many to be one of the largest producing river channel mines of modern times. Discovery’s geologists have commenced generating a 3-D model of the property and workings as well as geological evaluation and assessment of all known existing resource targets.
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In April DSCR completed an agreement to acquire the Ruby Mine from Sierra Gold LLC. The Board of Directors has determined that these activities be continued with an emphasis on early positive cash flow from any projects undertaken. On Tuesday DSCR reported management has just completed an extremally successful trip and has completed the meeting with the geologist at The Ruby Mine.ĭiscovery Minerals Ltd ( otcmkts : DSCR) is an acquisition and development company that targets natural resource properties and cutting-edge technology opportunities through its subsidiaries. (310,000 oz Gold is worth $646 million dollars at current gold prices.
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to acquire the Ruby Mining claims and commence mining operations on this historic project. DSCR is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars.ĭSCR has been on the move since the Company completed the agreement with Sierra Gold LLC.
#Ruby mine sierra county nugget plus#
On Tuesday the stock traded $8 million in dollar volume on 300 million plus shares traded. Currently under heavy accumulation DSCR is moving steadily northbound with many new investors buying in every day. DSCR is emerging as an investors favorite and is currently among the most actively searched and talked about stocks in small caps. Discovery Minerals Ltd ( otcmkts : DSCR) has been running all of 2021 after taking off from its triple zero lows late last year.