The Ancient Rivers of Gold

The Ancient American River, Ancient Yuba River, Ancient Calaveras River, Ancient Mokelumne River, Ancient Tuolumne River, Ancient Magalia Channel, Ancient Intervolcanic Cateract Channel, Ancient Intervolcanic American River and the Ancient Jura River (from the Jurassic Period), are plotted in detail on Big Ten’s California Gold Map 5. The present-day rivers bearing the same names as their ancient rivers are also shown.

The Ancient Rivers of Gold in northern California are from the Tertiary Period. The Tertiary rivers existed millions of years ago and many of them had large quantities of gold within their gravels. Because of that, they are known as the "Ancient Rivers of Gold." Each ancient river is discussed below.

Information on this page is based on the classic work of Waldemar Lindgren of the United States Geological Survey and by study of Big Ten’s California Gold Map 5, which shows the relationship of the ancient rivers to landmarks, such as roads, creeks and towns in the region.

These now-dry Tertiary rivers are thought to be a prime source of the gold found in many of the rivers and streams of the Mother Lode region of northern California. The ancient rivers are discontinuous and sometimes follow tortuous routes. They have been altered by volcanic activity, erosion, and in some instances portions of the rivers have been covered by lava. Much of the region underwent extreme volcanic eruptions. Volcanic flows have been found up to 4,000 feet deep. Volcanic flows were up to 60 miles in length. Portions of an ancient river may be found at ground level or near the top of a mountain, or on the side of a mountain, or buried.

Early prospectors found portions of the ancient rivers and worked them for their rich gold content. Later, mining companies used hydraulic mining or drift mining techniques to recover the gold. In hydraulic mining, water under pressure is directed to, for example, the side of a ravine to dislodge the gravels and send the material to the sluices where the gold is recovered. The equipment that was used (called a "monitor" or "giant") was similar to a very large hose nozzle.

Geologic reports speak of gravel deposits up to 250 feet deep with gold deposits interspersed at various levels within the gravels. Some of the gravels of the ancient rivers of gold have been cemented together over time. Smaller materials between

the larger gravels have bound the larger gravels together. Drift mining is used in those instances to follow the channel underneath the volcanic covering. In drift mining, tunnels are driven in bedrock underneath the channels and when the channels are reached, the richest stratum, resting immediately on the bedrock, is extracted by underground mining methods and then washed at the mouth of the tunnel.

Gold Hunt

There are more ways than one of hunting gold. Last week the U. S. Government, already holding $4,300,000,000 worth of gold, was trying to get more by ferreting out private gold hoards.* So that private holders could not profitably dispose of their gold elsewhere the Government was still paying only 20.67 (now depreciated) dollars for an ounce of gold. Hence U. S. gold miners have ceased bringing their output to the mints, but the Government still has to release some gold for industrial use (gold teeth, gold leaf, etc.). Net result of the U. S. Government's gold hunt was therefore—as shown in last week's Federal Reserve report—a decrease of $1,000,000 in the U. S. stock of monetary gold.


Another kind of gold hunt goes on in Canada, where, since sterling went off gold, the Government has paid a premium for gold to make up for the depreciation of the Canadian dollar. Canadian producers getting 37.78% more than the pre-Depression price per ounce ir making exciting profits. Mines are stepping up production, prospectors scouring Northern Canada in hope of new discoveries. With the U. S. gold hunt so unprofitable, U. S. businessmen have been rushing to join the Canadian hunt. Last week two U. S. expeditions, each including a famed U. S. ex-athlete, were flying into Canada's gold country: Tunney.

Seven U. S. millionaires composed party number one, headed by Wall Street's bear speculator Bernard E. ("Ben") Smith. They included Bernard F. Gimbel, head of Manhattan's Gimbel's; Donald M. Smith, broker (no relation) ; F. S. Argnimbau; Edward J. Flynn, Democratic boss of The Bronx and backer of Franklin Roosevelt; Eddie Dowling, comedian; James Joseph Tunney, financier-sportsman.

After breakfasting sumptuously at the home (just outside Toronto) of John Paris Bickell, "richest bachelor in Canada," the party set out in two General Airways' planes flying due north over Ontario's lake country to Porcupine gold camp. Their first goal was famed Mclntyre-Porcupine mine, Mr. Bickell's prize performer (which produced $5,425,000 of gold last year). There they met Sandy Mclntyre, onetime glass-molder, later foreman of a railroad construction gang, who discovered the mine and now lives on a pension (doled out in small amounts so that he will not disappear for too long at a time). There they went down into the bowels (4,134 ft.) of the earth to see the quartz gold vein being hacked. From Porcupine they planned to go to Kirkland Lake and Noranda mines and fly back to Toronto and New York prepared to buy Canadian gold shares with new avidity.

Hubbard. While the New Yorkers were hopping to northern Ontario, another plane took off from Boston bound for Labrador bearing Charles J. Hubbard (Harvard football captain, 1923) and three companions. Already Hubbard has a gold claim staked in the interior of Labrador.


*What use more gold would be to the Government economists could not figure out. The Federal Reserve has already $1,565,000,000 more gold than is needed for the 40% reserve against its note issue.