TWENTYNINE PALMS AREA GOLD MINE SOLD TO MAJOR FIRM

TWENTYNINE PALMS AREA GOLD MINE SOLD TO MAJOR FIRM

According to industry sources, last month the Jewelry Exchange completed the acquisition of a gold mine in the Twentynine Palms area. Called “Gold-Stone,” the mine is a quartz mine that is made up of three parcels of land spanning approximately 60 acres, just northeast of Joshua Tree National Park. The original deed to the land, signed by President Roosevelt, grants the owner mining rights over the 60 acres and spans vertically down indefinitely. The first mine claimed in the Twentynine Palms region was the “Blue Jay Mine,” founded by Dave Gowen and Joseph Voshay in 1873. After that, several new mines could be found in what is called the Pinto Mountains region. Originally opened in early 1942, the Gold-Stone quartz mine was shut down, along with all other gold mines across the country, in 1942 by the War Production Board after only three loads of ore had been mined. The ore on these loads averaged 1.5 ounces per ton; 0.25 ounces is considered profitable. The ban on gold mines was lifted in 1945, but due to equipment loss, cave-ins, flooding, and general disrepair, the mining operation stayed closed. The Jewelry Exchange is excited with their new venture, and is considering an expansion of their gold mining endeavor with the purchase of the Storm King and Supply mines, two of the region’s most profitable mines.

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