FIRE BRICK MINE – MINE EXPANSION
Funding The Fire Brick Mine is going to be developed in two phases. The first phase is surface mining on approximately 200k short tons of ore that is estimated to recover 14,000 oz of gold. The second phase is to expand Reserves that encompass the 10 million short tons of ore that is estimated to recover 7.5M oz/au for a large open pit mining project. A private placement offering has been issued by GLC to cover $800k exploration drilling plan for 2018. A project participation for 10 million dollars to cover the surface mining is being sourced. Funding for a major mine will most likely come from a joint venture arrangement with a Major Mining Company.
Return on investment. Preferred Company stock sold through the PPM will return 10% on investment Plus any dividends. Project participation will return 12% on Capital invested and receive up to 12% of the profits depending on the level of investment. Submit the Funding form under the INVESTOR tab of this web site to receive further detail.
Exploration: $1.5M in exploration was performed at the Fire Brick claims from 1997 to 2017. Drilling, adit and exploration tunneling, surface sampling, analysis and assay work was completed. Inferred mineral resources estimates showed 300M tons of ore with an estimated recovery rate of .16 oz/t/au, 2 o/t ag and .15% cu.
Infrastructure. Fire Brick Mine is located 68 miles by road and trail from The Parks Highway at milepost 114. There is a Runway with summer and winter access expandable to 5,500 ft and located 7 miles from the Fire Brick Mine. Minimal remote camp facilities will be constructed to support surface mining. An expanded camp facility and runway will be installed to support major Mine Development.
Permitting. Surface mine permit application has been filed and is in progress. Major mine expansion permits will be generated as funding is made available. Bridge permit application with the Corps of Engineers will be updated to coincide with development scheduling.
Development. The project will be developed in two phases a 2-year surface mining phase and a 30 to 50 year major mine development phase. The two-year phase is in progress for the surface mining. A $1M drilling program will coincide with the surface mining development process. Results of the drilling will determine the major mine development plan.
Production the surface mining phase is intended to process 200,000 tons of ore and recover 14,000 oz of gold. The major mine inferred Reserves are 7.5 million oz of gold in 300 million tons. Annual production is estimated at 250,000 oz of gold.