News

June 16, 2009

Evolving Gold’s Rattlesnake Hills Project Makes For An Interesting Comparison With The Famous Cripple Creek Mining District

By Charles Wyatt

It is interesting to take a quick look at what’s happened to the share price chart of a small Canadian gold explorer called Evolving Gold since it announced last month that it was going to start drilling on its Rattlesnake Hills project in Wyoming. Nothing happened for a week or two and then the share price went up from C41 cents to C52 cents in an almost straight line. No drilling results have been announced in the meantime so the assumption has to be made that some pretty interesting results are expected by investors. Significant share price movements do happen with junior mining companies as liquidity in the shares tends to be thin, but it clearly helps that Rattlesnake Hills is being compared to Cripple Creek, a mining district in Colorado that has been producing gold for a hundred years or more. The area around Rattlesnake Hills is host to the Rocky Mountain alkaline gold province in which big gold deposits, including Cripple Creek, occur along a north/south trend.

The Cresson project at Cripple Creek has been mined by open pit since 1995, and last year it produced 257,722 ounces of gold from 24 million tonnes of ore. Most of the land on which the Cripple Creek and Victor Gold Mining Company operates was mined underground in past years from high grade veins. It’s reckoned that a total of 23 million ounces of gold has been produced since 1890. Cripple Creek and Victor Gold is now owned by AngloGold Ashanti. If Evolving Gold is right in its assessment that...