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Terra Firma Auction Services is a third party auction service acting as a foreclosure agent for the seller. The seller has agreed to offer the following foreclosure at NO RESERVE.
Legal Description:
Joe Wheeler Property - MRO
Serial: CMC294748, CMC294749.
Saguache County, Colorado
SE 1/4 SEC 5, T47N R8E, New Mexico Meridian.
This is a Mineral property that is well documented and surveyed.
It is recommended that perspective buyers conduct their due diligence, including in person visit to the properties.
If you are unclear on any aspects of ownership of real property, MRO, SRO or purchase thereof, it is recommended that you seek legal advice before registering or bidding. Properties are sold as is, where is. No other warranties or representations.
Real property, being sold unencumbered with no liens or back taxes. Fee simple transfer.
10% Buyers Premium
$695 Documentation/Closing fee.
Warranty Deed Available for $1295
The Joe Wheeler Property is a fully surveyed, forty (40) Acre Mineral property located in Saguache County, Colorado. The property was surveyed and verified in and 2020.
Taken from the Survey:
"The Joe Wheeler is a silver and gold property in the Alder Creek District. The Alder Creek District is famous for its rich silver deposits and easy workings. The district was immortalized by Zane Grey in his book “The Border Legion” where a large portion of the book takes place with the Miners working in the Alder Creek District.
The property is made up of 3 main mines with other portals and air vents throughout. The mines are cut on a general trend that increases chalcopyrite and gold value as it deepens. The lowest portal on the property is known as the Joe Wheeler Mine and is an adit that extends roughly 175’. In wet seasons there is some water that discharges from this portal. This portal was originally known as the Golden Wave prior to 1900. This adit, or haulage tunnel, intersects the shafts that are 375’ up the hillside from the portal. There are also two small adits, both collapsed directly in line with the Joe Wheeler mine that are assumed to intersect with the upper levels of the mine as noted in historical mining reports.
There is a mining camp just east of the Joe Wheeler adit. The buildings are circa 1920-1940 based on the windows and chinking method of binding the logs.
Near the northern end of the claims is the most recent development on the Joe Wheeler site. A headframe and hoist house, circa 1960-1980, sits over a timbered shaft.
The dumps on the Joe Wheeler property are broken up into 5 distinct areas and have been individually sampled and assayed.
Dump 1, located at 11,000’, which is the northernmost site with the headframe and hoist house, contains a vastly different type of dump material than the other dumps. The material is highly oxidized and also shows a large amount of galena which appears to be lead-heavy. Samples assay at 6.809 oz/T AG, and 0.388 oz/T in AU.
Dump 2, located at 10,987’ is from a smaller mine, likely less than 100’. It is at nearly the same elevation as Dump 1 but the material is finer and shows little oxidation. Galena is present in some brown, grainy host rock. Samples assay at 1.54 oz/T AG, 0.167 oz/T AU.
Dump 3, located at 10,675, is the Joe Wheeler adit. This dump is slightly oxidized and shows pyrites, some quartz and galena. Samples assay at 2.294 oz/T AG, 0.311 oz/T AU.
Dumps 4 and 5 are in line with the Joe Wheeler adit and show similar dump material. Assays were combined for this material and showed 3.327 oz/T AG, 0.283 oz/T AU.
The Joe Wheeler property is located high on the mountain-side and the majority of the terrain between the mines is steep. There are established 4WD roads that wind through the property."
Bidder is responsible for all diligence and validation of information provided.
To be sold with NO RESERVE on OCTOBER 19th, 2024 at 12:00PM MST. Absolute sale of real property. Please view all terms and condition of the auction and be prepared to abide.
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