California gold rush revival

[Nugget]

I always take ninemsn stories with a grain of salt but heres one about a gold rush revival in California, stories like this one are poping up more and more.

The last of California's great gold mines closed a generation ago. But with the price of the metal near historic highs, hovering around $US1,700 ($A1,619) an ounce, the first large-scale hard rock gold mining operation in a half-century is coming back to life.

Miners are digging again where their forebears once unearthed riches from eight historic mines that honeycomb Sutter Gold Mining Co's holdings about 80km southeast of Sacramento.

Source http://finance.ninemsn.com.au/newsbusiness/aap/8581861/molten-gold-signals-revival-in-california

 

[Goldylox]

It sounds feasible - there is still so much gold out there, just getting harder to extract I suppose. Around my area they have done more test drilling near the old deep leads. I live directly over the Poverty Reef Mine (down to 900m) & have the newer mine just out the back owned by Ironbark Mining (Castlemaine) who have a lease over the area. There is often talk of them starting up again - it would be quite exciting, but I think the racket & activity here would drive me nuts. I have a backfilled shaft & breather hole mullock heap in my yard & reckon if there was ever a big earth tremor here - my wee miners shack would have a long way to fall. Pass a ladder folks.