The Bates Hunter Mine, a historic shaft mine, is located in the historic Central City mining district in Gilpin County, Colorado about 35 miles west of Denver. Central City is the oldest mining district in Colorado and the most important one in the Front Range mineral belt. The Mine itself extends over 22 acres and is home to a series of established gold veins.
The rights to the Carr Mine ("Carr") were included in the acquisition of the Bates Hunter Mine is a separate gold bearing vein known as the Carr Vein.
The Carr was worked from 1893 to 1910 and like the Bates Hunter has had no commercial mining in over 100 years.
The U.S. Geologic Report attached to the GS Mining web site notes that the Carr vein contained gold ore that was assayed at .72 to 9.06 ounces per ton. These are remarkably promising results. The Company intends to begin exploration of this vein after its current focus on the Bates Hunter rehabilitation is concluded. Based upon the historic data, the Company believes that like the Bates, there may be substantial gold that remains untouched in the Carr.
The Clay consists of approximately 18 acres above ground. Like the Bates Hunter, the Clay is a historic mine whose workings date back to the Colorado Gold Rush. Unlike the Bates Hunter, the Clay is not served by a vertical shaft but rather by a series of inclines/declines that have direct access from a mine portal on the property. The inclines/declines connect with tunnels and shafts reaching over four hundred feet below grade. In this area other mines have successfully extracted ore from depths of over 2000 feet.
The Golden Gilpin Mill (the "Mill") is listed on the Central City/Black Hawk National Historic Landmark Register and has been a milling site since the 1860’s. GS Mining Company acquired the rights to the Mill in the same transaction that added the Bates and Carr to its growing portfolio. When the Company finishes rehabilitating the 1932 Mill building, it will be able to process seventy tons of ore per day. The Company views its ownership of the Mill as a key ingredient in maximizing future profits.