Sutter Gold Mining Inc.
Projects
Keystone
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On January 24, 2000, Sutter Gold Mining Inc. entered into a lease agreement to acquire 50 acres of land adjacent to the Lincoln Project's northern boundary. This property is the site of the historic Keystone mine, which was well known as one of the most profitable of the Mother Lode mines. The Keystone was formed from several smaller claims that dated back to 1851. A high rate of ownership turnover and several unsuccessful attempts to operate the mine between the years of 1851-1865 resulted in a grim outlook for the property. Finally, in December of 1865 the property was purchased by James McDonald, Andrew B. McCreary and others. In early 1866, at the suggestion of the miners working the Keystone tunnels, an easterly crosscut was driven that broke into a vein that was an obvious treasure-trove. From that point on, the Keystone continued to consistently produce around 2,000 ounces, or $40,000 worth of gold a month until it came to be recognized as one of the most profitable gold producers in the world. The mine sold in 1909, and operations continued until the mine closed in 1919. The Keystone Mining Company gained control of the South Spring Hill Mine in 1920, and in 1933 the Keystone reopened and operated until 1942, when it was closed by the war production board order. At closure, the depth of the Keystone had reached 2,600 feet, and the mine had produced 850,000 ounces of gold for a total of $24,000,000.