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Montana Project
Background:
The state of Montana is the most prolific producer
of gem-quality sapphires in North America. Three major mining areas (Missouri River, Dry Cottonwood Creek and Rock Creek) supply the stones
seen in the international marketplace today.
Gold miners first discovered sapphires in Montana in May of 1865 near
the Missouri River, along with additional finds in 1889 and 1892 in other
areas. The most notable deposits are Rock Creek and the Eldorado Bar.
The New World Gold leases are part of the Eldorado Bar deposits. In
1895, samples were sent via an assayer to Dr. George F. Kunz at Tiffany
& Co who purchased the very fine sapphires. This was the beginning of an
ongoing relationship between Tiffany’s and the sapphires of Montana,
which continues today. The Montana Sapphire has become world famous
because some of the blue sapphires it produces which may resemble the
coveted Kashmir India Blue velvety sapphire. These sapphires from India
and Burma have sold for $100,000/ carat and of course lesser quality
sapphires have been $50/ carat, all contingent on quality.
The Montana sapphire can deliver a unique and highly profitable product
for the gemstone business of today. This is evident of its acceptance
worldwide of not only rough material but also fine faceted gemstones
despite its limited inventory. Taking into consideration the market
situations and future trends, the time is perfect for Montana to take its
place as a major player in the world sapphire market.
Reduced and lost of mining production of sapphires from Thailand,
Cambodia and Vietnam resulting in shortages to all major suppliers and
cutters to the world market offers great opportunity to grow current and
open new distribution channels of sapphires from Montana.
In addition to the aforementioned demand for sapphire substrates is currently
booming for mobile phones, solar cells, and LED applications for phones,
PCs and automobile lighting.
Current Status Of Montana Project - June 9, 2010
The Montana property has been mapped and tested over the last
three years for gold and sapphires.
Both have been found in significant quantities to justify very good
commercial operations. The property has 4four significant pay zones—two gold
and two sapphire.
Random sampling was done to define the pay zones. Based on the results
of the random sampling, a pit was dug to define the pay zones. The
results obtained from the pit were sufficient enough to justify a plant
being built and a settling pond put in place. Regulatory approvals were
applied for and received.
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