In light of the obstacles that 2020 has presented us all, GS Mining Company is pleased to announce that it has accomplished the following during the third quarter of 2020:
Bates Hunter Mine | Mine Infrastructure Update
For the first time in modern history, the Bates-Hunter mine has a secondary egress, an MSHA requirement and precursor to mining. The water treatment plant has been operating flawlessly and we are now preparing to operate two continuous shifts to double the dewatering capacity and accelerate our rehabilitation to depth.
Bates Hunter Mine | Shaft
- Water maintained at ~370’
- Shaft guides installed to 330’
- Shaft utilities – rehab/repair/relocate
- Hoist rebuild
- New babbit bearings on main and drive shaft
- New electric drive motor and couplings
- New electric drive and brake controls
- Repaint frame and drum
- Rebuild brake hydraulics
- Successful hoist certification for human transport
Bates Hunter Mine | Surface Facilities
- Restored Radial Arm Saw for underground timber cutting
- Replaced main ventilation fan
- Prepared surface explosive magazines
Bates Hunter Mine | 240 Level
- Prep for connection by West Hunter shaft sinking crew
- Connection to West Hunter shaft
- Finalize timber support for stoped areas between Bates-Hunter and West Hunter shafts
Bates Hunter Mine | West Hunter
- Break through, 8/9/2020
- Completed 240 Level shaft station
- Begin shaft survey
Becker Bates Mine | Update
Geology | Significance Of Our Assay Results
What is the significance of our assay results and how do those results translate to the profit potential of our operations? Below is a list of the ten "richest" underground (not open pit) mines in the world.
Note that although we speak in terms of ounces per ton, these measurements are all in grams per ton (31.103 grams in a troy ounce). Attached to this document are two results of Bates Hunter assays that were taken to determine gold content in areas in which we were working at the time of the sampling (all of our assay results are available on our website)...
Golden Gilpin Mill | Mill Infrastructure Update
- Mill Equipment
- Flotation Cell disassembly continues
- Western Foundry flot cell test cast inspection
- New tub for rake classifier constructed and installed
- Flotation Cell disassembly continues
- Pilot Mill
- Replaced pilot crusher
- Installation of Gemeni 60 table
- Began size analysis
- Generating material for flotation testing
- Received approval for Special Review Use – Q2
- Phase 2 building permit initiation
- Minor Subdivision filed
- Began final site plan, including stormwater, etc.
Clay County Mine | Update
In all, we are thrilled to share our progress with you and look forward to more great news in the coming quarter and 2021!
- Installed additional 40’ of portal culvert
- Backfilled culvert
- Installed final portal doors
- 500’ of air & water line installed
- Underground ventilation bulkhead installed at Gold Ridge shaft
- Preparing for installation of underground explosive magazines
CAUTIONARY STATEMENT FOR PURPOSES OF THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This quarterly report may be deemed to contain “forward-looking” statements. We desire to take advantage of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and we are including this statement for the express purpose of availing ourselves of the protections of such safe harbor with respect to all of such forward-looking statements. Examples of forward-looking statements include, but are not limited to (i) projections of revenues, income or loss, earnings or loss per share, capital expenditures, growth prospects, dividends, capital structure and other financial items, (ii) statements of plans and objectives of ours or our management or Board of Directors, including the introduction of new products or services, or estimates or predictions of actions by customers, suppliers, competitors or regulating authorities, (iii) statements of future economic performance and (iv) statements of assumptions underlying other statements and statements about us or our business.
Our ability to predict projected results or to predict the effect of any legislation or other pending events on our operating results is inherently uncertain. Therefore, we wish to caution each reader of the report to carefully consider specific factors, including competition for products, services and technology; the uncertainty of developing or obtaining rights to new products, services or technologies that will be accepted by the market; the effects of government regulations and other factors discussed herein because such factors in some cases have affected; and in the future (together with other factors) could affect, our ability to achieve our projected results and may cause actual results to differ materially from those expressed herein.