| Description |
NO RESERVE Auction for 100% ownership of the Antoro Property. One hundred and twenty (120) Acres. Ordered foreclosure due to lessee default.
Appraisal of the property is $1.44M.
Real property, being sold unencumbered with no liens or back taxes. Fee simple transfer. Please see legal description for more information.
6% Buyers Premium
$695 Documentation/Closing fee.
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.
The Antoro Property will be sold to highest bidder with NO RESERVE.
Legal Description:
Antoro Property - MRO
Serial: CMC291021, CMC294734, CMC294735, CMC294736, CMC294737, CMC294738
Saguache County, Colorado
SEC 18, T47N R8E, New Mexico Meridian.
The property has been appraised at $1.44M based on value of Measured Blocked Reserves and Surface Material.
The Antoro is a fully surveyed, one hundred and twenty (120) Acre Mineral property located in Saguache County, Colorado. The property was surveyed and verified in 2019 and 2020.
The Antoro Property is a 120-acre lode mining property located near the center of the Bonanza District. The property was located and developed in 1882. The mine is noted as a silver and gold deposit with significant Cerargyrite (horn silver) deposits.
The mine has been worked and held by various companies over the years, the last of which was ASCARO who relinquished the mine in 1999.
The property ranges in altitude from 11,000’ to 11,700’ with various portal sites and workings across 120 acres. The portals are all largely collapsed due to heavy snow and inclement weather. A gated culvert covers the remains of the main adit level of the Antoro at approximately 11,275. The mine contains at least three defined levels and 4200’ of workings. The condition of these workings is unknown as they have not been examined or seen in at least 39 years (1981).
There are two main defined veins in the Antoro Mine, the Antoro Vein and the Poverty Vein.
The Antoro Vein is largely quartz and carries values on average of 5.5 oz. p/T AG. It is a sulphide ore that contains pyrite, sphalerite, galena, chalcopyrite, and tennantite. Copper and gold content are relatively low, historically stated as .02 oz/T AU. The Poverty vein is the other notable vein in the mine and on the property. The Poverty vein reported high-grade silver/lead ore. Values from the 114 level assayed 3-7 oz. of silver.
The mines suffered from the collapse of silver prices in 1892-1897 and extreme elevations and short work seasons. The mine is said to have operated for less than 3 years before it was closed to await the rise in silver prices.
There is running water on the property, this could be utilized for operations or for drinking water if properly treated. Riparian rights apply to water and timber.
No permitting is included or implied.
Bidder is responsible for all diligence and validation of information provided.
This is a NO RESERVE auction. 100% interest and ownership of the properties will be transferred to the winning bidder. Winning bidder will receive the deed to the property, clear and unencumbered title of ownership. Property conveyance includes 100% interest and ownership (MRO) of all locatable minerals. Rights to development are also included with ownership of the mineral properties. Conveyance does not include exclusive surface ownership(SRO). These properties are suitable for mineral development and mining activities. It is recommended that potential bidders obtain legal advice if they are unclear of the caveats or stipulations related to mining properties.
Absolute sale of real property. Please view all terms and condition of the auction and be prepared to abide.
Ownership transferred by Quit Claim Deed with no caveats or restrictions. Warranty Deed is available at additional fee.
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