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Old 05-17-2018, 08:46 AM   #1
Cflames_12.5
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Default Gold panning and prospecting

I am thinking of gold panning and prospecting for a hobby. Does anyone have any insight or information about this. I have done very limited research. My research is watching gold rush on TV. Does someone need a permit to grab some buckets of rocks from a river? Are there any rules or regulations? Is there any good websites or YouTube channels someone can recommend? Thank you in advance for advise or information.
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Old 05-17-2018, 08:53 AM   #2
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I looked into it a bit a few years back, and you're ok panning on public land. The Calgary area doesn't really have the right geology for it though. I've heard there is better luck up on the North Saskatchewan river. Or down in a place like Rossland BC, where there are old gold mines.

Never really found any good resource sites for it, but I haven't looked recently.
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Old 05-17-2018, 08:57 AM   #3
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How rare is gold?

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Lastly, we finish off with an image of all of the world’s mined gold in one cube with dimensions of 20.5m. If it was all melted, it would fit within the confines of an Olympic Swimming Pool.

http://www.visualcapitalist.com/12-s...ow-its-rarity/
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Old 05-17-2018, 09:05 AM   #4
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Don't you have to file a claim or something so you don't end up infringing on someone elses spot?
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Old 05-17-2018, 09:11 AM   #5
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Originally Posted by CaptainCrunch View Post
Don't you have to file a claim or something so you don't end up infringing on someone elses spot?
Great question. I am looking for the answer to that.
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Old 05-17-2018, 09:17 AM   #6
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If you don't mind wasting time and walking a lot, any plans on making enough to cover your costs are probably fantasy.
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Old 05-17-2018, 09:30 AM   #7
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Originally Posted by CaptainCrunch View Post
Don't you have to file a claim or something so you don't end up infringing on someone elses spot?
Not for panning or placer mining.

Claims are for permanent mines. Panning requires no license and a placer license is $50 for 5 years.
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Old 05-17-2018, 09:34 AM   #8
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Originally Posted by troutman View Post
Not saying I don't believe that but if that's the case shouldn't gold be worth more? That doesn't seem like much at all.
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Old 05-17-2018, 09:43 AM   #9
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Originally Posted by Erick Estrada View Post
Not saying I don't believe that but if that's the case shouldn't gold be worth more? That doesn't seem like much at all.
Why is gold rare?

http://www.sciencefocus.com/qa/why-gold-rare

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Gold owes its status as a precious metal to its rarity: all the gold mined throughout history would fit into a square box with sides of around 20m in length. That’s not because of a failure to mine more. Gold is rare throughout the Universe because it’s a relatively hefty atom, consisting of 79 protons and 118 neutrons. That makes it hard to produce, even in the incredible heat and pressure of the ‘chemical forges’ of supernovae, the deaths of giant stars responsible for creating most chemical elements. There’s even doubt that supernovae are up to the job. Recent research suggests that even more violent events, such as collisions between neutron stars – the ultra-dense cores of dead stars – may be needed. No wonder the stuff is so expensive.
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Old 05-17-2018, 09:45 AM   #10
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Precious Metals:
https://en.wikipedia.org/wiki/Precious_metal
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Old 05-17-2018, 09:50 AM   #11
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This is why the Bitcoin is worth so much, if it was all in one place it would not even fill up 1/10 of a toddler wading pool
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Old 05-17-2018, 10:08 AM   #12
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This is where I found all my info.

http://www.energy.alberta.ca/Minerals/Pages/GFG.aspx

Applied for a placer licence (cause wtf not) and sent in my cheque for $50. Received the licence surprisingly quickly, government never did cash the cheque
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Old 05-17-2018, 10:16 AM   #13
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My napkin calcs put the total value of all gold mined $6.4 Trillion. (@ $1200/ounce)

Last edited by Matata; 05-17-2018 at 10:24 AM.
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Old 05-17-2018, 11:23 AM   #14
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Remember when nations used to have to actually back up their currency with Gold?


Fort Knox, there's currently 147 million ounces of gold worth 261 billion dollars




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Old 05-17-2018, 11:35 AM   #15
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I did a bit of gold panning years back (over 10). You used to be able to join panning clubs which had claims you could pan (rules of what you could do i.e. no dredging or sluice boxes) . Don't know if there is anything like that anymore. You don't do it for money, just the experience as you would make more money picking bottles, but it was a great way to see some of the back country.
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Old 05-17-2018, 11:35 AM   #16
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amazing



https://www.marketwatch.com/story/ch...-it-2015-07-17


Quote:
China released data on its gold holdings for the first time in about six years, but investors say the guessing game about the country’s actual inventory continues.
The People’s Bank of China on Friday published figures on its gold reserves for the first time since 2009. Its official gold reserves stood at 53.3 million ounces, or 1,658 metric tons, in June.


The last time China reported official figures was in April 2009. Back then, the figure stood at 1,054 metric tons, according to Ross Norman, chief executive officer at Sharps Pixley.


The latest total is about half what the market thought it was. The market was generally expecting a total of well over 3,000 metric tons, according to Brien Lundin, editor of Gold Newsletter.


“There is much evidence that [China’s] holdings are actually at those higher levels, which makes one wonder why they would feel compelled to understate the total now,” he said.

top 50 countries in terms of Gold Reserves


https://www.relbanks.com/rankings/world-gold-reserves


Canada pretty much sold off its gold reserve to coin collectors and our gold reserve is a total of 77 ounces worth $136,752 dollars
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Old 05-17-2018, 11:55 AM   #17
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All my information about gold prospecting comes from Gus Chiggins:

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Old 05-17-2018, 11:57 AM   #18
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