Location:
The principal iron-bearing formation crops out in sections 3, 9 and 10, T.85, R.7W, about 10 miles southeast of Dillon, Montana. The boundary between Madison and Beaverhead counties follows the west line of sec. 10 and divides the deposit approximately in half. The area is called Sweetwater Hills and is a southwest extension of the Ruby Range. The deposit occurs on the northwest side of the crest of the hills near the headwaters of Carter Creek, a tributary of the Beaverhead River. Elevation in the vicinity of the deposit is approximately 6,500 feet. Local relief is 2 or 3 hundred feet with the iron formation forming a NE-SW ridge.
The deposit is in sections 3 and 10. T8S, R7W Madison County and Section 9T8S, R7W Beaverhead County, State of Montana. The ore deposit is approximately 12 miles south of Dillon, Montana.
Deposit Information:
The Carter deposit is about 2 miles long. The trend ranges from North 70 degrees East on the southwestern end to N 50 degrees east on the northeaster end. The dip as indicated by drilling is variable; it ranges from vertical to almost flat. Drill hole sections show an average of about 38 degrees northwest for the footwall and 52 degrees NS for the hanging wall. The dip along the hanging wall outcrop is much steeper, but the drill holes show the dip flattens at depth.
The normal thickness of the iron formation is 250 to 300 feet with one or two intermittent zones of included schist 25 to 75 feet thick. Folding has increased the outcrop exposure, particularly on the southwest end of the deposit where the horizontal distance between footwall and hanging wall averages about 700 feet.
Geologically it is of pre-Cambrian origin and differs from the taconite in that it is of much coarser grain. It averages 28% to 30% Fe which is mostly as magnetite. It occurs in a ridge 10,000 feet long and about 600 feet wide with very little overburden. It can therefore be cheaply mined by open pit methods. The cost of mined ore, including royalties, is estimated at 57 cents per ton of ore.
The deposit has been proved by extensive trenching and over 10,700 feet of drilling under the supervision of independent consultants. Their estimates of tonnage are as follows:
Tons Proved. 48.6 Million
Tons Indicated 30.4 Million
Tons Possible 10.0 Million
Total Tons 89.0 Million
WHAT THE SALE INCLUDES:
1) 814 acres
2) 18 registered claims (#s M MC 32395 through M MC 32412) encompassing some 330 acres immediately adjacent and contiguous to the south of the land referenced in number 1 above.
3) Carter Creek does not own the surface rights on the “claimed” 330 acre area, however the mining laws in Montana, established in 1872, state specifically that Carter Creek has the right to mine the ore provided Carter Creek has the registered claims on that property. The present
an amount, established by 3 independent appraisers, for the loss of “surface value”. The surface value is minimal.
4) The lands adjacent to the above referenced property and claims generally have a market value of $1,000 to $1,500 per acre if purchased in larger quantities. It is believed that the 814 acres Carter Creek is selling are more than sufficient to conduct the mining/processing operation. If desired adjacent land owners are open to negotiations.
5) A public roadway is very near the referenced property and claims area and an approved right of way from the public roadway to the property is in place and registered appropriately.
6) This iron ore reserve has been studied extensively by recognized engineering companies, The US Department of the Interior, Northern Pacific Railway and multiple large mining companies in both the USA and Canada since the General Womack staked the claims in 1955.
7) Over 5 million dollars has been spent studying this project, verifying the quality and quantity of the iron ore reserve and conducting feasibility studies over the years.
8) Since 1955 more than 13,000 feet of test drilling and sampling has occurred at Carter Creek. Some earlier reports stated that there are 50,000 tons of proven reserves and 60,000,000 tons of inferred reserves. After further research, drilling and calculations from decade to decade, the tonnage increased to what is now said to be over 200,000,000 tons of proven and inferred if mined to a depth of 500 feet rather than the 300 feet in the earlier calculation. That depth, or deeper of open pit mining is very common today. There are studies that can demonstrate over 100,000,000 tons of proven reserves.
Carter Creek Holdings Corporation
A proposal for the production of metalized pellets from Carter Creek, Montana, Iron Ore
The Carter Creek Holdings Corporation (a State of Delaware Corporation) owns mining leases on a large magnetite deposit situated some eight miles east of Dillon, Montana.
The deposit has been extensively explored, drilled and large scale test work has recently been completed on the milling and concentrating of the ore with very satisfactory metalized pellets being produced. Samples of these pellets have been sent to Kennecott Copper Corporation in Salk Lake City for evaluation as a precipitation for copper leaching operations and to Bethlehem Steel Corporation for evaluation as a feed stock for electronic steel making. These two companies initially have a potential total demand for 360,000 long tons of pellets per year.
The following is a general outline of the project but reports on the separate phases including geological reports on exploration and drilling, test work on the milling, concentration and the the production of metalized pellets are available to any interested parties.
ORE DEPOSIT
Geologically it is of pre-Cambrian origin and differs from the taconite in that it is of much coarser grain. It averages 28% to 30% Fe which is mostly as magnetite. It occurs in a ridge 10,000 feet long and about 600 feet wide with very little overburden. It can therefore be cheaply mined by open pit methods. The cost of mined ore, including royalties, is estimated at 57 cents per ton of ore.
The deposit has been proved by extensive trenching and over 10,700 feet of drilling under the supervision of independent consultants. Their estimates of tonnage are as follows:
Tons Proved. 48.6 Million
Tons Indicated 30.4 Million
Tons Possible 10.0 Million
Total Tons 89.0 Million
ORE MILLING
In view of the fact that the ore is of coarse grain and shatters readily, it was considered that a dry autogenous grind, followed by dry magnetic cobbling would be the most economical in both capital and operating costs.
A 25 ton sample of ore was tested in a 5 foot diameter Aero-fall mill at Haven Research, Inc. at Golden, Colorado.
CONTACT:
jjwomack100@gmail.com
Jack Womack
Marietta, Georgia
For additional information :
404-977-8775