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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:
Hassayampa Placers Commercial Mining Property - MRO
Serial: AZ101591452, AZ101591453, AZ101591454, AZ101591455
Yavapai County, Arizona
SEC 11, T12N R3W, Gila Salt River Base and Meridian.
Blocked and measured reserves of 1,098,877 ounces of gold.
The asset value has been appraised at $2.576B based on value of Measured Reserves and Surface Material. This appraisal will change with the daily spot pricing of gold.
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 Hassayampa Placers are an 80 acre lot of high-value placer workings. There is a well documented history of gold recovery up to 1940.
From the Survey Report:
"A single miner using a hand rocker extracted 1750 ounces in a single year in 1891. This property could be operated year round. Life of the mine, based on a small operation running 100 yards per day, is at least 18 years.
The gold in this region is reported as coarse nuggets that can range from a few grams to several ounces in size. There is a substantial bar that is from 70' to 180' wide running along the Hassayampa River. The bar has minimal intrusion and was only impacted by the drag bucket dredge operation that ran from 1938 to 1940.
There is a small tailing near the upper reaches of the bar, totaling about 58,000 tons. This was worked from 1938 to 1940 when the operation was closed as part of the War Act. A larger tailing is on the southern half of the claims, totaling roughly 250,000 tons. This is largely river rock that was processed by the aforementioned drag bucket dredge machine, with little to no recovery of small gold. The capture being targeted to nuggets 1oz and over. Nuggets of lesser size were discarded. The property has not been worked commercially since the dredge was removed in 1941.
The river and the placers are blocked from access by a massive wall of tailings from the dredge operation. This has kept the site from any sort of operation to date. Operator will need a dozer or similar to open up access to the river and the banks. Once there is an access point, the property has excellent access which can be managed with 2WD in most conditions. Many large staging and parking areas that can be used for processing. There is good, year-round water throughout the property that can be used for mining purposes.
Permits and bonds are required for commercial mining. Costs are correlated to the method of mining utilized.
The bars have little erosion except that done by the drag buckets in mining pre-1940. There were core samples done in 1930 measuring the depth of the bar. The reports from this drilling showed an average of .08 oz per yard. $1.60 per yard in 1931. (Gold value at $20.67 per ounce) $120 per yard in 2019. $181.50 in 2024 (variance to pricing of gold). As noted by Nebeker report, there were NO cores that did not show gold, which was astounding to the geologist who made the report.
To be sold with NO RESERVE on OCTOBER 19th, 2024 at 11:00AM MST. Absolute sale of real property. Please view all terms and condition of the auction and be prepared to abide.
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