Conjecture Mine

The Conjecture property consists of approximately 240 acres and includes both patented and unpatented lode mining claims, located in the Lakeview Mining District of northern Idaho, roughly 30 miles northwest of the Coeur d'Alene Mining District.

Geologists have long noted similarities between the Precambrian belt series (i.e., Wallace, St. Regis, Revett) of the Lakeview District and those found in the world-class silver deposits of the Coeur d'Alene mining district, and the same important ore minerals (tetrahedrite, galena, sphalerite) define productive ore shoots in the Conjecture and the Coeur d'Alene District. Within the Lakeview District, only the Conjecture shaft has been driven deep enough to penetrate the less favorable Wallace formation into the better quartzite units.

Both the Lakeview District and the Conjecture Mine have a history of high-grade silver production from shallow workings dating to the late 1800s, though production on neighboring properties have occurred as recently as 1987.

The Conjecture Mine was discovered in 1895 and worked until the early 1920s, producing an unrecorded quantity of high-grade silver ore from the Graham and Spider adit levels. It was further developed by an inclined shaft from the 100-foot to the 400-foot level and sporadically worked until the mid 1950s. The Idaho Bureau of Mines and Geology records 350 tons of concentrate processed at the Bunker Hill Smelter from 1952 to 1954, averaging approximately 91 oz/t silver, 0.14 oz/t gold and 4.5% lead.

In the late 1950s and early 1960s, Federal Resources invested approximately $3 million dollars to extend the inclined shaft to the 700-foot level, sank a 2000-foot vertical shaft, and developed the 700-, 1000-, 1600- and 2000-foot levels along 2500 feet of strike, totaling over 13,000 feet of workings. Federal Resources established a block of mineralized material of 336,000 tons grading nearly 12 opt silver and .02 opt gold, three percent zinc and 1/2 percent lead. Federal Resources also listed an additional block of 370,000 tons of similar grade as a possible block of mineralization between the levels, or a total of more than 700,000 thousand tons of mineralized material.

Sunshine Mining unitized the Lakeview District during in the 1970s and conducted further exploration and development work, but did not produce any ore from Conjecture.

An independent reserve report, prepared by registered professional geologist Richard W. Morris in 1981, verified the earlier numbers for Minerals Management, Inc., though this mineralized material does not currently constitute a proven or probable ore reserve.

High-grade silver mineralization has been shown to extend laterally for over two miles, and vertically for over 3000 feet in the Conjecture Mine.

The Conjecture property is currently under lease to Shoshone Silver Mining Company.