Need A Gold Mine? A Legendary One Is For Sale

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The Previous Beehive in Wickenburg is without doubt one of the largest gold mines in Arizona. Earlier than it ceased operation in 1942, it produced over $310 million price of gold, and that was from simply 30% of the vein.

A part of the Octave Mine complicated, which was developed by eight traders within the Nineties, it was most likely first labored within the 1860s. 

Throughout its late 19th century heyday, the Octave Mine supported a complete city, with a put up workplace, a college, a common retailer and a stagecoach line. At present, the mine complex is for sale. Provided in three parcels or in a single complete piece, it’s comprised of 266 acres in a 3 and a half mile lengthy piece of land that’s solely 600 toes vast. Claims comply with the principle gold vein and its offshoots, rising over 5,000 toes excessive. Perched immediately above the gold veins, the property contains 25 miles of tunnels, a nicely, electrical service at a radio tower and a two-bedroom off-the-grid residence. 

Better of all, the land is patented, which provides the property proprietor unique title to the minerals underground. That is particularly essential as a result of, efficient 1994, Congress imposed a moratorium on spending appropriated funds for the acceptance or processing of mineral patent purposes. Since then, the Bureau of Land Management has not accepted any new patent applications.

“This land can completely nonetheless be mined,” says itemizing dealer Preston Westmorland of Russ Lyon Sotheby’s Worldwide Realty. “To begin up operations, the proprietor must shore up tunnels and put in infrastructure, however in any other case, this mine has a really wealthy vein that may produce much more gold.”

He factors out that the property contains the Nugget Pit, the place gold nuggets have been discovered ranging in dimension from that of a walnut to that of an apple. Some of the well-known nuggets recovered there may be referred to as “Nessie.” Roughly the dimensions of a human hand, it resembles the form of the Loch Ness Monster.

The present proprietor believes that there’s enormous potential for a future payout.

“Just about the whole vein system east of the radio tower is undamaged, aside from the excessive grade and exploratory work on the Verno and Beehive websites, which was actually simply scratching the floor relative to the work executed on the Octave,” he says. “The shortage of actual mining east of the tower was not as a result of lack of accessible vein materials, which will be clearly situated on web site even immediately, however primarily due to fractured possession and market timing points through the years. The fractured possession points are now not a difficulty and the small particular person claims have been mixed to a dimension now encompassing the overall vein system like by no means earlier than.”

In a five-page cowl story, Prospecting and Mining Journal states “That is the primary time all of those contiguous mining properties have been united below the management of a single proprietor.”

The three parcels on provide embrace the historic Octave Mine and 105 patented acres for $ 5,195,000; the highly-mineralized Higher Vein, together with the well-known Beehive Mine, which has produced the biggest nuggets on the mountain, together with the Nugget Pit, Thunderbolt, Verno and Twin Tunnels, plus a cushty two- bed room residence with power system, a nicely, and a highway to the highest of the mountain. Encompassing nearly 162 patented acres, it’s provided for $5,285,000. 

The complete parcel, which incorporates each sections, is obtainable for $8,675,309.

In most lives and locations, a gold mine is a metaphor. However on this case, it’s a very actual alternative.

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