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TSX-V : GFN
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Volume 16650
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2014-04-24 14:01:00

Cresent Mine

Project Area

The Crescent Mine Property is located in the “Silver Valley” area in the vicinity of Coeur d’Alene of the State of Idaho. The property is currently being developed by the United Mining Group as the holder of an option to acquire up to an 80% interest in the project.

The Coeur d'Alene Mining District is one of the most prominent and productive mining districts in North America. This five mile stretch of ground is reported to have hosted over 90 historic mines yielding over $5 billion worth of mineral products (and a billion ounces of silver) in just over 100 years. At least three of these mines have produced over one hundred million ounces of silver each over that period.  The area is now being labeled "The Silver Valley".

Within the Coeur d’Alene Mining district, the largest historical silver producing mines include the Crescent, Sunshine, Coeur, Galena, and Lucky Friday. The Crescent Mine is strategically located between two world-class ore bodies. Adjoining the Crescent Mine on the east side is the world famous Sunshine Mine, one of the richest silver mines in the world. The Sunshine Mine is reported to have produced over 325 million ounces of silver, 71,000 tonnes of lead, 50,000 tonnes of copper and 37,500 tonnes of antimony. Bordering the Crescent Mine on the west is the Bunker Hill Mine with a production history of 3,119,121 tonnes of lead, 161,384,305 ounces of silver and 1,311,266 tonnes of zinc.

The Coeur d'Alene District is underlain by members of the Pre-Cambrian belt super-group rock formations. This super-group extends east-westerly for many miles and hosts the numerous mines that have made the District one of the major silver producing areas in the world and the premier silver district in North America. “The Silver Valley” boasts some of the oldest, deepest, and richest silver mines in North America, consistently producing nearly 40% of the nation's silver. Silver is a metal that exhibits industrial, precious and monetary values and with demand outstripping supply for the past decade creating increased market price, “The Silver Valley” has again become the focus of intense exploration and production activity.

Project History

The history of production from the Silver Valley is shown in a technical report dated April 22, 2009 prepared on the Crescent Mine by SRK Consulting, with Bart Stryhas, PhD, CPG being the Qualified Person named in the report. The technical report has been filed by Gold Finder on www.sedar.com under its corporate profile. The Crescent Mine was acquired by Gold Finder on January 2, 2007.