Cubist Pyrite Mineral Crystal, Formed On Sandstone Base, From Spain.
Cubist Pyrite Mineral Crystal, Individually Formed On Sandstone Base, From Spain.
Pyrite is sometimes called Fools Gold because of its similarity in colour and shape to Gold. In the old mining days, Pyrite was sometimes mistaken for Gold, as they frequently occur together, although Gold and Pyrite can very easily be distinguished by simple observation and testing of characteristics.
We have been attempting to educate people for some time on the old assumption that pyrite is just fools gold. This adage is almost an old miner’s joke on the rest of the population. Truth be told, there is no gold in pure iron pyrite, however, more than 99 times out of 100, there is significant gold in pyritic deposits. Also, the presence of pyrite, especially in western US deposits, is a huge indicator of gold presence.
Consider how many mines you have been to, large mines, where pyrite is present. Do you think that’s just a coincidence? It's not, Miners have long known that if you find pyrite, you aren’t far from gold. Large mines across the west have considerable amounts of Pyrites in their waste piles. A testament to the minerals removed as they dig out the gold.
The Ophir Hill mine in Ophir, Utah is a prime example of this. Massive tailings piles run out to the highway. The tailings glitter and shine in the sunlight with pyrite cubes. It’s similar across the country. To go one extra step, find pyrites on quartz and you are golden, literally.
Some pyrites can contain 0.25% gold by weight or more. Although this is a tiny fraction of the ore, the value of gold is so high that the pyrite might be a worthwhile mining target. If pyrite contains 0.25% gold and the gold price is $1500 per troy ounce, then one ton of pyrite will contain about 73 troy ounces of gold worth over $109,000. That is not a guaranteed money-maker. It depends upon how efficiently the gold can be recovered and the cost of the recovery process.
Item Code - GEM11D202WAR
Width: 2 3/16" Height: 1 1/4" Depth" 1 3/4" Carats: 400 Weight: 80 g