Baltimore & Dardanelles Mines –

Gold Recovery Opportunity Foresthill Mining District, Placer County, California – Sierra Nevada Foothills

The Baltimore and Dardanelles drift mines are cited in the 1927 State Mineralogist report for substantial unmined Foresthill Channel gravels. The Baltimore is estimated at 2,000,000 cubic yards; the Dardanelles, while unquantified, warranted specific mention. Historic yields range from 0.008 oz/yd3 (hydraulicking at Dardanelles) to 0.18 oz/yd3 (drift-mined gravels in the Foresthill Channel through both mines). At current gold prices (~$3,400/oz), that equates to $54M to $1.22B in potential in-situ value (Baltimore only).

1. Executive Summary

The Baltimore and Dardanelles underground drift mines are located in the historic Foresthill Mining District of Placer County, California, within the Foresthill Tertiary Channel system. Both mines are cited in the 1927 California State Mineralogist’s Gravels of the Middle Fork of the American River.
– Baltimore Mine – Estimated 2,000,000 cubic yards of unmined channel gravels.
– Dardanelles Mine – Remaining gravel volume not quantified; presumed significant due to explicit mention in
the report. Historic yields in the district range from 0.008 oz/yd3 (hydraulicking at the Dardanelles) to 0.18 oz/yd3
(drift-mined gravels in the Foresthill Channel, which flows through both mines). At August 2025 gold prices (~$3,400/oz), the Baltimore alone represents a potential in-situ gross value between $54 million and $1.22 billion, depending on grade.
We are seeking a qualified mining partner to fund and execute a Phase I program to confirm gravel volume and grade, with the option to negotiate purchase or profit-sharing terms.

2. Historic Production Context

Mine Historic Production Value* Gold Price at TimeApprox. Ounces Notes
Baltimore N/A – – Estimated 2,000,000 yd3 of unmined channel gravels
Dardanelles $2,000,000 $16/oz ~125,000 oz Mix of drift mining and hydraulicking
Mayflower $1,000,000 $16/oz ~62,500 oz Located ~2 miles NE, also on Foresthill Channel
* Historical figures from state and mining district records; some are third-party historical estimates.

3. Remaining Resource Potential

Using a 10–40% non-recovery range — consistent with conservative estimates of residual gravels in similar drift mines — and applying yield assumptions for Baltimore based on historic grades*:
– Baltimore – 2,000,000 yd3 at 0.008–0.18 oz/yd3 = 16,000–360,000 oz (*).
– Dardanelles – ~14,000 to 56,000 oz remaining.
– Mayflower – ~7,000 to 28,000 oz remaining.
– Combined Multi-Mine Potential – 37,000 to 444,000 oz.

4. Key Advantages for Modern Evaluation

1. High-Value Target – Documented unmined gravels in one of California’s most productive Tertiary channels.
2. Historic Grade Variability – From low-grade hydraulicking yields to high-grade drift-mined pay.
3. Infrastructure Access – Road network, grid power, and water resources in place for rapid mobilization.
4. Potentially Preserved Tunnels – If intact, may reduce cost and time to access gravels.
5. Proximity to Proven Producers – Baltimore adjoins historically high-yield mines (New Jersey, Jenny Lind,
Independent).
5. Phase I Objectives

1. Quantify Remaining Gravel – Volume and distribution in target channels.
2. Determine Grade – Representative sampling to establish economic potential.
3. Evaluate Access – Assess condition of existing workings or define drilling approach.