The YUKON STORY ..
posted on
Sep 24, 2010 10:31PM
We may not make much money, but we sure have a lot of fun!
The rush to find gold in the Yukon Territory is surging once again!
It's been 113 years since the famous Klondike Gold Rush of the late 19th century...
Now, a new Yukon Gold Rush is on as one geologist is leading the way for a discovery of up to 200 million ounces of gold.
For investors, this discovery will provide a long series of lucrative opportunities to profit from Yukon gold stocks.
And those who invest now will be best positioned to profit as the story unfolds over the next several years.
In this report, I'll introduce you to the geologist who is trailblazing the new Yukon Gold Rush — and tell you how to prepare yourself to take advantage rising share prices.
But before we talk about that, let me tell you exactly where geologists are looking for the yellow metal in the Yukon...
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History of gold in the Yukon
In August 1896, a group of men lead by Skookum Jim Mason, Dawson Charlie, and George Washington Carmack found gold in a tributary of the Klondike River in Canada's Yukon Territory.
But they had no idea it would set off one of the greatest gold rushes in history.
Truth be told, it may have been Skookum Jim's wife that actually made the discovery while doing laundry by the stream.
Either way, beginning a few months later in 1897, an army of hopeful gold seekers boarded ships in Seattle and other Pacific port cities and headed north toward the vision of golden riches.
Skookum Jim with his friends and family. His wife, Mary, is standing on the porch.
Through the summer and winter of 1897-98, stampeders poured into the tent-and-shack boomtowns of Skagway and Dyea, the jump-off points for the 600-mile trek to the Klondike goldfields.
Skagway, located at the head of the White Pass Trail, was founded by a former steamboat captain named William Moore.
His small homestead was inundated with 10,000 transient residents struggling to get their required year's worth of gear and supplies over the Coast Range and down the Yukon River headwaters at lakes Lindeman and Bennett.
Dyea, three miles from the head of Taiya Inlet, experienced the same frantic boomtown activity as gold seekers poured ashore and picked their way up the Chilkoot Trail into Canada.
Stampeders faced serious hardships on the Chilkoot Trail out of Dyea and the White Pass Trail out of Skagway. There were murders and suicides, disease and malnutrition, and death from wild animals, hypothermia, avalanches — even heartbreak, according to some.
The Chilkoot was the toughest on men because pack animals could not be used easily on the steep slopes leading to the pass.
Prospectors at the head of the Chilkoot Trail. Each prospector had to have a year's supply of food and essentials before they were allowed to go up the trails to the gold camps.
Until tramways were built late in 1897 and early 1898, the stampeders had to carry everything on their backs.
The White Pass Trail was called "the animal-killer"; anxious prospectors overloaded and beat their pack animals and forced them over the rocky terrain until they dropped.
More than 3,000 animals died on this trail; many of their bones still lie at the bottom on Dead Horse Gulch.
During the first year of the rush, an estimated 20,000-30,000 gold seekers spent an average of three months packing their outfits up the trails and over the passes to the lakes.
The distance from tidewater to the lakes was only about 35 miles, but each individual trudged hundreds of miles back and forth along the trails, moving gear from cache to cache.
Once the prospectors had hauled their full array of gear to the lakes, they built or bought boats to float the remaining 560 or so miles downriver to Dawson City and the Klondike mining district, where an almost limitless supply of gold nuggets was said to lie.
By midsummer of 1898, there were 18,000 people at Dawson with more than 5,000 working the diggings.
By August, many of the stampeders had started for home — most of them broke. The next year saw a still larger exodus of miners when gold was discovered at Nome, Alaska.
The great Klondike Gold Rush ended as suddenly as it had begun.
Towns such as Dawson City and Skagway began to decline. Others (including Dyea) disappeared altogether, leaving only memories of what many consider to be the last grand adventure of the 19th century.
Searching for the legendary source of Yukon's placer gold
As I mentioned, the source of the placer gold was never discovered, despite over a century of prospecting...
But one geologist has made recent discoveries that may lead to him to the location of the legendary source of Yukon's placer gold.
His name is Shawn Ryan, and I'm sure you'll be hearing his name quite often as the Yukon gold story unfolds. Ryan — a determined and persistent prospector — has been searching for the source of the placer gold in the Yukon for the past 15 years. Recently he headed the discovery of the White Gold deposit in Western Yukon.
Underworld Resources (Historic: TSX-V: UW) — the company that owned the White Gold project at the time — hit high-grade gold mineralization on their fourth drill hole. Underworld quickly built a million ounce resource after the discovery and was subsequently bought out by Kinross Gold (NYSE: KGC) nine months later.
The next junior to get some of Ryan's claims was Kaminak Gold (TSX-V:
http://email.angelnexus.com/ct/4661588:6990503010:m:1:156910379:522CE18DBF4E5DBFE43345341AADB5F4">Wealth Daily
Kaminak is now trading around the $3.50 level with a $195 million market cap. It is a beautiful success story.
Kaminak Gold
Next Friday, I'll publish the conclusion of this report, in which I talk more about Shawn Ryan's projects and reveal some of his secrets.
I'll also tell you exactly how you can start profiting from the new Yukon gold rush today with a new recommendation.
Keep an eye on your inbox.
In the meantime, good investing.
Greg McCoach
Editor,