23, 1936, the Cariboo Gold Quartz Mining Company's powerhouse burned
down with an estimated loss in machinery of $160,000. It was quickly
rebuilt with good insurance coverage. With new equipment installed,
it had the capacity to produce 275 tons of ore per day. This was impressive
since, in its humble beginnings produced 50-75 tons of ore per day.
The first strike by workers that occured in 1937 slowed the mining development,
as did the strike in 1946 and the event of World War II. The old Number
One Shaft on Cow Mountain closed down in 1959, and the Cariboo Gold
Quartz Mine closed entirely in 1967. During its 34 years of operation,
CGQ produced $31,000,000 in gold. Unfortunately, the remains of the
mine were destroyed in 1977 when the property caught fire.
Mountain Mine Company owned 29 claims over 991 acres on Island Mountain.The
mine began development in 1933 (the same year as the Cariboo Gold Quartz
began production) and lasted 19 years in operation. Owned and operated
by the Newmont Mining Corporation of New York, J. P. Morgan & Company
(one of the largest mining organizations in the United States) was the
financier. The Newmont Mining Corporation had worked for the Cariboo
Gold Quartz earlier. Newmont purchased a group of claims from C. J.
Seymour Baker in 1933 and development began.
had bought the claims from Peter Dunlavey back in 1902. Gold had been
proven to exist back then, but problems retrieving the gold at that
time prevented Dunlavey's success in his mining claims. Philip Kraft
was appointed resident manager, but Island Mountain Mines Company Ltd.
took over when they became incorporated on October 12, 1933. By 1935,
the mill was producing 100 tons of ore per day. A find of ore yeilding
0.66 ounces of gold per ton was discovered and kept the mine going.
strike happened to run into the Cariboo Gold Quartz's claims which led
to them exploring in that direction as well. The strike of the miners
in 1937 closed down Island Mountain Mines May 15 - August 1, with little
being resolved. The 1946 strike also arrived during financial struggle
for both mines. Newmont Mining Corporation, the mining branch of J.
P. Morgan & Company, closed the mine and sold the property to the Cariboo
Gold Quartz Mining Company August 15, 1954 for $305,000.00 after many
years of financial struggle.
Gold Quartz continued operation and changed the name to Aurum Mine.
Unfortunately, it did not produce encouraging results. However, 812,000
tons of 0.43 ounce gold ore was milled during this twenty year period,
with $1,518,283 returned to the shareholders.
table is a record from the British Columbia Department of Mines illustrating
milling production of the mines7:
of Ore Milled
Gold Quartz only
Gold Quartz & Aurum Mines
of Both Mines