top of page

2023 | NOTES FROM THE UNDERGROUND | BREAKING NEWS EDITION

Greetings from Gilpin County,


This week we reached an important milestone. We poured our first gold doré bar using Bates Hunter gold.


Reaching this milestone has not been easy. We've had to outlast and out-think supply chain interruptions, Bates Hunter mine shaft water chemistry curve balls, abundance of clay in our Stope Fill, lightning strikes, Covid caused delays, and more.


Matt Collins and his team have been resourceful and creative. Putting equipment that has not operated in decades into service was no walk in the park. In some cases, the manufacturers of the equipment are out of business, and we had to machine our own replacement parts. In other cases, we had to build our own solutions. But undaunted, we have persevered. What we are doing is unique in North America, and you are participating in mining history in the making.


This Note contains two videos of the process and a picture of the finished product which is a 1.2 Troy Ounce Gold Doré Bar. We still have more work to do before we can reach our Phase One goal of multiple bars and concentrate per day. There's fine tuning to be done to make sure that we aren't losing commercial amounts of gold in our tailings. This requires sampling and laboratory analysis to get the sizing and mix just right. We need to keep "bedding" the mill so that we get maximum gold output. Our goal in this first phase is to run the mill eight hours a day. We can average three and a half tons per hour, which means that we will be able to exceed our original goal of twenty tons per day. We expect to begin at ten tons per day, and as we move through the last quarter of the year reach a minimum of twenty tons a day.

This week we proved the concept - one ounce down, two million nine hundred and ninety-nine thousand, nine hundred and ninety-nine to go.




Best wishes from the GS Mining Company. Stay tuned for further announcements.

Comments

CAUTIONARY STATEMENT FOR PURPOSES OF THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

 

This 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.

bottom of page