Ticker Symbol: GYST 

Gold AU Prices POP to 30 day high

September 24, 2015 by  
Filed under About Gold, Gold Mining, Industry News

Gold prices popped to a four-week high of $1,156.40 in December Comex futures Thursday. The yellow metal saw a combination of strong short covering in the futures market, bargain hunting in the cash market, and some fresh safe-haven demand amid sharp losses in the U.S. stock market. Buy stop orders were triggered when December gold pushed above what were solid chart resistance levels at last week’s high of $1,141.50 and then at the September high of $1,147.30. The next upside objective for the energized gold market bulls is the August high of $1,169.80. December Comex gold was last up $22.00 at $1,153.50 an ounce. December Comex silver was last up $0.0341 at $15.13 an ounce.

While the U.S. stock indexes were solidly lower Thursday, due in part to some downbeat U.S. economic data released in the morning, world stock markets were mixed on the day. Japan’s Nikkei stock index down nearly 3% as Japan markets reopened from a long holiday. China’s Shanghai index was up just over 1%. Traders and investors worldwide and taking their cues from either China or the U.S. In China, the world’s second-largest economy is wavering and that has many markets edgy. And in the U.S., the focus is still on Fed policy—so “Fed speak” will continue to be extra important.

Speaking of which, Fed Chair Yellen’s lecture to a Philip Gamble Memorial group in the afternoon will find traders hoping she will shed some fresh light on just when the U.S. central bank might raise its interest rate for the first time in several years.

The London P.M. gold fix today was $1,154.50 versus the previous London A.M. fixing of $1,134.45.

Provided by the Graystone Company GYST and AU2020.com

A Look at Gold Mining Equipment

April 2, 2012 by  
Filed under Gold Mining

At one time gold mining consisted of miners squatting over streams or river beds, swirling their pans and smiling when those shiny bits of earth separated from the sand. You can still find that today, but like any other industry, gold extraction has become a highly mechanized process accomplished with heavy-duty gold mining equipment. Large-scale gold recovery is a costly endeavor, and many of the heavy-duty machines used for mining projects are designed to be time- and cost-effective. There are numerous machines and equipment used to facilitate successful gold extraction operations: wash plants, trommels, pan feeders, screens, jigs, sluice boxes, and shaking tables—to name just a handful.

Wash Plants and Trommels

Wash plants are engineered to thoroughly wash and recover alluvial gold. Wash plants feature horizontal designs that allow for lower feed heights and more intense cleaning action. Numerous spray bars and nozzles thin and separate gold into nugget traps, sometimes 10-feet long.

Trommels are screened cylinders that separate materials by size and prevent blockage. Screens are constructed from steel or rubber and can be snapped into place. While more expensive, rubber screening media is thought to outlast its steel counterpart by 10 to 15 times.

Pan Feeders and Screens

Feeders are designed for in-line placement to convey material to a screening or washing plant. They can use vibration to transport material, be remote-controlled, or use surge bins. Their capacities can range from 50 TPH to 1,500 TPH. Pan feeders feature screen decks with drive shafts, oversize bearings, and adjustable throw. Research has shown that incline feeders capable of reversal can result in a higher scrubbing action for gold recovery. Variable speed drives allow for adjustment of the feeder or screen. Some feeders are designed with the spray system separate from the vibrating unit to minimize broken spray bars. Screens are used to separate gold from sediment and other minerals or materials. Dewatering screens are useful in gold recovery operations for various reasons:

  1. They save water by removing it from the sluices or jig tailings. As the dewatering screens remove water from the sand, it becomes packed and can break off in large chunks.
  2. The high-impact screens are extremely durable and enable the machine to run constantly.
  3. When combined with a cyclone, the screens remove large amounts of fine sediment from the water. This helps keep sediment buildup to a minimum in the recalculating ponds.

Jig Systems

Most jig systems are comprised of a hutch containing water with a screen on top. The material is placed on the screen while a rubber diaphragm at the hutch’s bottom is driven up and down. When driven up, the growing water column dilates the shot bed while differentially sorting the particles based on gravity: heavier particles stay on and nearest to the shot bed, while lighter particles are carried away. On the down stroke, the heavier particles are pulled downwards through the bed and are discharged through a valve in the bottom of the hutch.

Advantages of a Jig System:

  1. Adding a jig system to a gold recovery operation is said to increase results by five to 40 percent, and most of that recovery is in the 100 to 250 mesh-size range.
  2. As the jig system is self-cleaning, it is low-maintenance with low operating costs.
  3. It has low water consumption.
  4. The jig’s immediate feedback allows for quick analysis of the discharge.

Sluice Boxes

Sluice boxes are known as the most cost-effective gold recovery machine and form the basis of any large-scale gold recovery operation. The boxes are designed in single, double, and triple configuration with riffles staying below three feet in width. If a sluice box is not set up correctly with the perfect water flow, gold can be washed right out. Sluice boxes allow for large amounts of material to be processed, versus the traditional gold panning technique.

Shaking Tables

Shaking tables, or gold concentration tables, provide the final steps prior to the smelting process. They are designed to wet the separation of minerals based on gravity and are simple to operate. The table uses water that is circulated through pumps, filtered, and reused at precise pressure levels. Shaking tables are invaluable when it comes to extracting fine gold.

From retrieving to cleaning and separating, heavy-duty gold mining equipment is necessary for large-scale gold recovery operations.

How to Pan for Gold

March 6, 2012 by  
Filed under Gold Mining

Panning for gold is still the simplest, easiest, and cheapest way to extract gold, even though it is the oldest form of mining. Panning for gold simply takes a pan and a stream bed with gravel or sediment that’s known to be located over a placer deposit.

Panning for gold is a form of placer mining in which gold is extracted from a placer deposit. A placer is an accumulation of valuable minerals, somewhat like a vein, but when panning for gold a placer that’s not solid is used. Panned gold is extracted from an alluvium placer deposit, which is a placer that has formed in river, creek, or stream sediments, collecting in protected places where the water doesn’t flow as fast, such as bends, eddies, breaks, waterfalls, and natural barriers along the shore.

Panning for gold is the oldest form of mining, and was the main source of extraction during the U.S. gold rushes. It is not effective for large-scale extraction operations today, but is still in practice. In old western mining towns with operational mines and pan sites, panning for gold is a novelty for tourists, families, and amateur geologists, as well as a profitable activity for mining entrepreneurs and professional geologists.

Gold placers are usually found in the mountains, and panning is an effective way to extract gold from streams and mountainside runoff. Gravel from the placer deposit is scooped into the pan with some water, and the gold sinks to the bottom as the pan is agitated, much like a washing machine. Denser materials like gold and gemstones will separate from the lighter materials in the gravel and remain in the pan, while the lighter, more porous gravel and sediment will float to the top and fall out of the pan with the water.

There are different kinds of gold pans you can use, including specially designed pans and heavy gauge steel or even copper pans. Sometimes screens, square pans, and other accessories are used. Some panners use a technique in which they lower the pan back into the stream as the gravel and sediment separate and float to the top, just long enough for the light current to sweep the unwanted sediment away while the gold rests in the bottom of the pan.

How to Locate a Placer Deposit

You can try your luck at panning for gold, gemstones, and other metals in areas that may contain placer deposits. Types of placer deposits include:

  • Alluvium – placer deposits that form in river and stream sediments, found along the banks anywhere that sediment can be trapped.
  • Eluvium – a type of placer deposit formed by settling and weathering, also located in stream beds.
  • Bench placer – placer deposits that form on the bank or beach of a large body of water or river.
  • Paleoplacers – placer deposits in which the deposit is a solid rock. Only gold and uranium are mined this way. Paleoplacer literally means “old placer.”

In the United States, gold was found out west. Head into the mountains or mountain valleys to find a cool mountain stream. Chances are you can find beds of sediment with tiny flakes of gold among the sand and gravel. Mountain towns with access to public lands will have local hot spots for gold panning that you may be able to locate through websites, blogs, or conversations at the local coffee shop.

Finding large deposits of gold through panning on public lands can be difficult, however, because most valuable placers have already been located and the lands they’re on have been purchased by mining companies. Some commercial operations around the west have gold and other gemstone panning available at regulated sites for a small fee, if you want to try your luck at striking it rich.

Placers are formed by heavier materials sinking during the sedimentary phases of rock formation, separating due to gravity. Placers are often characterized by black sand that contains a shiny mix of magnetite high in iron oxides. Look for these characteristics in the river canyon when trying to locate an unknown placer in a mountain streambed.

Even if you don’t find gold while panning, you may find crystals, gemstones, or other metals. In addition to gold, platinum, tin, diamonds, thorium, titanium, and uranium are all mined from placers.

Even if you don’t walk away with much, these small nature-made treasures make great souvenirs to remember your adventure by.