1980s -1990s Pegasus Mining Company 3/4 Ozt .999 Gold Coin

Description: A fantastic collection of Montana mining history. From the infamous Zortman-Landusky Pegasus Mine. This lot includes One 3/4 ounce 23.3 gram .999 fine gold safety medal for 1 million hours No LTAs or Lost Time Accident.This piece has a Selective Silver Overlay on both sides. This medal was made by the Northwest Territorial Mint of Auburn WA. The company is now defunct and its inventory purchased by a new company called Ranger. Ranger said they no longer have any information in their holdings about this coin unfortunately. Charles "Charlie" Beaudry of Butte, a powder and demolition man, was also an artist. He designed the coin when he worked for Montana Tunnels around 1995. His design was submitted along with several others for consideration by the company and his design was chosen. All silver, encapsulated in excellent condition plastic capsules. These silver rounds were produced each year the mines were in operation highlighting the expanse of Pegasus. Two 1 ounce 999 Fine Silver 1987Montana Tunnels One 1 ounce 999 Fine Silver 1989Beal Mountain Mine Two 1 ounce 999 Fine Silver 1990Basin Creek Mine One 1 ounce 999 Fine Silver 1991Black Pine Mine One 1 ounce 999 Fine Silver 1992One Million Ounces One 1 ounce 999 Fine Silver 1993Exploration One 1 ounce 999 Fine Silver 1994Northern Territory Australia One brass belt buckle 5L excellent condition no wear. Paperwork and velvet case included with the gold and a 3 place walnut case for 3 Silver coins. All items to be shipped signature next day air. BACKGROUND 1855 MONTANA-The Assiniboine and Gros Ventre tribes move to what will later be known as the Fort Belknap Reservation, named for a U.S. Secretary of War.Late 19th century Pike Landusky and Pete Zortman strike gold in a corner of the reservation.1895 Threatened with starvation, the tribes sign the Grinnell Agreement, selling the U.S. government the gold-laden land. Miners stream into the mining towns of Zortman and Landusky.Early 20th century Mining companies tunnel into the Little Rockies for gold while tribal members use the mountains for vision quests and hunting. Underground mining continues until 1950s.1979 Pegasus Gold Corp. and its subsidiary, Zortman Mining Inc. (ZMI), build two connected cyanide heap-leach mines named after the original prospectors, Zortman and Landusky. The companies promise not to mine sulfide ore, which creates a lethal brew called acid mine drainage when exposed to air and water.1979-1990 The mining complex grows. The state health department and the federal Bureau of Land Management approve nine expansions without once asking for a full-scale EIS, even though several state agencies report cyanide spills and other violations of the company’s operating permit.1990 The Native American group Red Thunder joins with environmental groups to appeal federal permits for Zortman-Landusky’s 10th expansion, warning that it will cause acid mine drainage. The appeal is denied.1991 Pegasus offers scholarships and environmental monitoring to the Fort Belknap Community Council if tribal members stop opposing the mine. The council refuses.November 1997 Low gold prices and high operating costs force Pegasus to shut its recently opened Mount Todd gold mine in Australia. After Pegasus reports an annual loss of more than $400 million, its stock, which had been as high as $17/share in 1996, falls to under $1/share. The company warns that if it doesn’t get its permit to expand the Zortman-Landusky Mine, it will not be economical to keep leaching gold from the current heap-leach pads after Jan. 1, 1998. December 12, 1997 Pegasus Gold Australia, a wholly owned subsidiary of Pegasus Gold, files for bankruptcy in Australia, followed soon after in 1998 by Pegasus Gold Corp.Pegasus Gold abandoned their mines in 1998. It has cost state taxpayers over $35 million to clean them up.

Price: 3500 USD

Location: Helena, Montana

End Time: 2024-12-06T05:00:35.000Z

Shipping Cost: N/A USD