Golden Gate Exploration Company
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Product Details
Golden Gate Exploration Company
Certificate Type
Capital Stock
Date Issued
August 5, 1919
Canceled
No
Printer
New York Bank Note Company
Signatures
Hand signed
Approximate Size
11 1/2" (w) by 8 1/4" (h)
Additional Details
NA
Historical Context
In 1917, the Monticali Mines Syndicate was formed to explore and evaluate the reopening of the Sheep Ranch Mine in Calaveras County, California. They dewaterd the mine of 50,000,000 gallons and deepened it to the 1,700-foot level. In doing so, they discovered rich ore and the Golden Gate Exploration Company was formed to take over operation of the mine.
Stoping was largely confined between the 1,500- and 1,700-foot levels with minor development work on the 1,000- and 1,400-foot levels. The mill process was converted from amalgamation to cyanidation, which increased recovery to almost 95%. During Golden Gate Exploration's operations, the mine produced 30,832 tons of ore averaging 0.58 oz/ton (or $11.93/ton) resulting in $367,877 (at $20.67/oz for gold). Later, the dump was worked.
Despite the evidence that ore shoots at the lower 1,700-foot level were as good as ore elsewhere in the mine, Golden Gate Exploration closed the mine in 1922. Reasons given for closure included incompetent labor, high costs, inadequate equipment for the 1,700 foot depth, scarce and inefficient labor available during the postwar period, and stealing of high-grade ore. Despite the hiring of detectives to thwart it, an estimated at 50% of the mine's production was lost to high-grading, which was considered one of the principle reasons for closure.
The St. Joseph Lead Company reopened the mine in 1936.
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Additional Information
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