CRIPPLE CREEK
72 UNPATENTED CLAIMS
McGrath, Alaska
PRIVATE SALE
1,640± Acres
EXECUTIVE SUMMARY
Cripple Creek Gold Mine, situated deep within Alaska’s untamed wilderness, offers a rare opportunity for both gold miners and gold investors or as a dual-purpose gold mine in the summer and hunting camp in the fall. Located roughly 46 miles north/ northwest of McGrath, this expansive property is within the Innoko Mining District, spanning 1,640± acres at the confluence of Bear Creek and Cripple Creek, which flows into Graham Creek and extends to Colorado Creek. The site is comprised of 72 unpatented claims.
With a rich history of gold mining in this area dating back to 1917, the Alamin Mining Corporation acquired or leased these mining claims forming the Cripple Creek Gold Mine in the early 1980s. Before that time, some of the claims had been mined by various miners, including Willard “Tex” Gates and his son-in-law Dennis Gould. Cripple Creek Mine has been extensively explored and tested, revealing substantial reserves with overburden depths ranging from 8-15 feet. The seller has drilling information on about 25% of the claims.
The property’s location offers more than just mining potential. The area has an abundance of wildlife, including grizzly and black bears, moose, caribou, wolves, wolverines, and lynx, making it a haven for miners and outdoor enthusiasts.
A 1,600± foot gravel runway provides access to this remote location with room to add another 400’ if needed. The site is equipped with a modern suction dredge, a trommel, and additional mining equipment. Multiple cabins are on-site, including crew bunks, a kitchen cabin, a utility cabin, and a supplies cabin. Numerous pieces of heavy equipment are at the mine, including a JD dozer, a Cat loader, and several others.
The property’s remote location is balanced by its accessibility, with a nearby 6,000’ paved airstrip at McGrath. Whether you’re drawn by the prospect of mining or the allure of Alaska’s wilderness, Cripple Creek Gold Mine presents a unique and compelling investment opportunity. CLAIMS ACRES
LOCATION
The mine site is at the confluence of Bear Creek and Cripple Creek, which becomes Graham Creek. Claims follow Graham Creek up to Graham Creek confluence with Colorado Creek, north and west of the Cripple Creek Mountains. The site lies N/NW of McGrath, approximately 46 miles in the Cripple Mountain Mining District, Alaska, 260 air miles NW of Anchorage, and 270 air miles SW of Fairbanks; McGrath offers a 6,000’ asphalt runway on the upper Kuskokwim River.
GETTING THERE
Fly to Anchorage, Ted Stevens International Airport; from Anchorage, charter a 180, 206, Super Cub, or a helicopter.
AIRPORT SERVICES
Bear Creek airfield strip facilitates access to the property, which is 1,600’ and located adjacent to a portion of the Project reserves. This airfield presently accommodates single-engine and light twin aircraft. Heavy freight may also be barged to Bethel, then up the Kuskokwim River during the summer barging season. The freight would then be moved by gravelsurfaced road 35 miles to Ophir. The winter freight route from Ophir to Bear Creek is 52 miles.
HISTORY
Gold was first discovered in the Cripple Creek region in the spring of 1912, marking the beginning of a rich mining history that would contribute significantly to Alaska’s gold production. The discovery came shortly after the well-documented gold finds in nearby regions, including Ganes Creek in 1906 and Otter Creek in 1908.
By 1933, Wilson and Hard were actively mining on lower Cripple Creek, focusing their operations along the western side of the creek. At that time, the paystreak extended approximately 200 feet in width, yielding gold valued at 20 to 30 cents per square foot—equivalent to gold prices of $20.67 per ounce. The overburden varied from two to twelve feet of muck, overlaying five to six feet of gravel. The gravel, composed mainly of chert and greenstone, was well-rounded and consistent in size, averaging four to five inches in diameter. The natural conditions allowed for efficient mining, as the gravel was thawed and uniform in thickness.
EQUIPMENT
• Heavy Equipment: JD 850 dozer, Cat 988 loader, and more
• Mining Equipment: Trommel, feed conveyor, modern suction dredge
The equipment is located at the mine. The seller makes no representations or warranties regarding the condition or legal ownership.
Cripple Creek Gold Mine | McGrath, Alaska 8
OPERATIONAL CONSIDERATIONS
• Access: The site is accessible via a private 1,600± foot airstrip
• Elevation: Top 1200±, Bottom 0±
• Latitude and Longitude: 60.7100, -159.5400
• Overburden: 12-15’
• Mindat Report: https://www.mindat.org/loc-197092.html
• Crew Capacity: 6–8 people
• Estimated Operational Costs: N/A
• Historical Production: See Page 12
• Geotech: See Page 12
• NI 43-101: N/A
• Assay Report: N/A
Mining Methodologies:
Placer mining is a method of extracting valuable minerals from alluvial deposits, which are accumulations of sand, gravel, and other sediments found in riverbeds, streambeds, and floodplains. These minerals are typically denser than the surrounding material, allowing them to settle at the bottom over time.
Gold, platinum, tin, and gemstones are commonly extracted using this method.
GEOTECH HIGHLIGHTS
STRANDBERG REPORT
• Preliminary Feasibility Study dated March 18, 1988
• Report done by respected Alaska miners Odin Strandberg Sr. and Edward Odin Strandberg Jr. and driller Ed Schwoyer
• Most thorough drilling and testing done on the claims, but tested less than 25% of the claims held
• Total Proven and Probable Gold Reserves on estimated 150 acres tested was 124,250 ounces
HALLORAN REPORT
• Property Report on Alamin Mining Corporation’s Bear Creek Mine dated January 6, 2012
• Report done by respected Alaska geologist Jim Halloran
• Update to Strandberg Report adding value to estimated additional Alamin claims
• Extrapolated testing results from Strandberg report and applied that data to new claims, since less than 25% of the claims were tested by the Strandberg Report
• Assumed 390 prime mineable acres out of the 1,640 total acres, with approximately 150 acres tested
• Total estimated gold reserves 114,250 ounces, with additional extrapolated gold resources of 51,450 ounces, up to an additional 300,000 ounces with an aggressive interpretation
HIGHLINER CONSULTING REPORT
• Bear Creek Project Technical Report prepared in July 2012
• Report done by Highliner Consulting Group, which included experts Paul Johnson of Highliner Consulting Group, Don Stevens of Stevens Exploration Management Corp, Keith Tryck of Tryck Consulting, Dave Nyman of Restoration Science and Engineering and Geologist Jim Halloran
• Report used Strandberg report data but conservative reserves analysis and $1,500 gold price cutoff for 17,330 ounces used for this updated report
• 7-year net profit of $13.9 million using conservative 17,330 ounces at $1,500 per ounce gold
• Gross revenue would be $43.3 million if using 17,330 ounces at $2,500 per ounce gold price, plus more reserves would be added due to more testing areas being able to be profitably mined
• Estimated seasonal operating costs $850,000 using 2012 information
• Report stated that there is a high likelihood that the gold resources in the Alamin claims can be expanded with additional drilling/bulk sampling. Property has a significant upside and warrants further detailed study
CLIMATE
Summer is the most pleasant month of the year for McGrath, Alaska, with temperatures around 70 degrees and winter lows around 5 degrees. On average, there are about 26 inches of rain, 110 inches of snow, and 130 sunny days per year.
Climate charts courtesy of https://www.city-data.com/city/McGrath-Alaska.html
www.fayranches.com | 800.238.8616 | info@fayranches.com
Cripple Creek Gold Mine | McGrath, Alaska
DISCLOSURES & DISCLAIMERS
The information provided by Fay Ranches, including but not limited to property descriptions, maps, reports, studies, geotech, and any other materials, is offered solely for the prospective buyer’s convenience. While efforts have been made to ensure the accuracy or reliability of the information provided, it is up to the prospective buyer to confirm.
Prospective buyers are strongly encouraged to conduct their own independent due diligence, including but not limited to in-person site inspection, verification of property boundaries, assessment of mineral rights, environmental considerations, permitting requirements, and any other factors material to their purchase decision. The property is sold as is with no guarantees, warranties, express or implied, including but not limited to the existence, presence, quality, or extractable mineral resource.
By submitting an offer, the buyer acknowledges they have relied solely on their own investigations, observations, and due diligence and NOT on any information, representations, or warranties provided by Fay Ranches or the seller.
Cripple Creek Gold Mine | McGrath, Alaska
PRICE
TERMS CONTACT NOTICE PRIVATE SALE
Cash
Conventional Financing
This is an exclusive co-listing with Fay Ranches and Real Broker of Alaska. Please contact Troy Dana at (360) 402-5500 | tdana@fayranches.com or Yvan Corbin at (907) 301-0875 | Yvan@alaskatopshelfrealty.com to schedule a showing. An agent from Fay Ranches or Real Broker Alaska must be present at all showings unless otherwise noted or other arrangements are made. To view other properties, fly fishing properties, and sporting ranches that we have listed, please visit our web page at www.fayranches.com.
DATA ROOM
The Data Room will provide additional information such as geology, gold reserves, mining plans, and additional maps. To request access to the Data Room, please email tdana@fayranches.com or yvan@alaskatopshelfrealty.com.
Offer is subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner. Information regarding land classification, carrying capacities, maps, etc., is intended only as a general guideline and has been provided by the owners and other sources deemed reliable, but the accuracy cannot be guaranteed. Prospective purchasers are encouraged to research the information to their own satisfaction.
www.fayranches.com | 800.238.8616 | info@fayranches.com