| Description |
Auction for 100% ownership of the Peerless Jennie and Little Jennie Lode SRO/MRO
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 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.
Legal Description:
Property ID - 05-1685-21-2-01-03-0000 and 05-1685-21-2-01-01-0000
Lewis and Clark County, Montana
S21, T08 N, R05 W, ACRES 20.66, PEERLESS JENNIE 1E LODE MS 253 SRO/MRO
S21, T08 N, R05 W, LITTLE JENNIE LODE MS 255-B SRO/MRO
Picture your dream home in Montana, High on the mountain, good road access and close to town for amenities.
Now imagine the wine cellar, cobblestone steps that lead down into a real silver mine with legitimate silver values. Solid rock walls with veins of silver make for a great wine cellar or maybe a bug out level?
This kind of property comes along once in a lifetime.
The Peerless Jennie is a documented million dollar mine at the head of 10-mile Creek. The property has excellent, county-maintained road access. There is some seasonal water from small creeks and documented subsurface water. Heavy, old growth timber is abundant on the site.
The property is buildable for residence. There are other high-end residences in the area averaging $940,000.00 for a pole barn construction on 90 acres. Construction is active on many properties in the general vicinity above the town of Rimini.
This is the historic Peerless Jennie mine property that operated from the 1920s into the 1930s when the price of silver dropped and mine was mothballed. It was never put back into production. Kristine K. Wise of the USGS reported in 1981 that the mine was at least 180’ deep and had over 390’ of subsurface drifting and development. Workings noted as a shaft, crosscut and a raise. Also, a flooded raise below the cross-cut north of the vein. Blocked reserves of 50 tons of ore that assays at 900 ounces of silver per ton. Also 200 tons of ore that average 500 ounces of silver per ton. Surface dumps were valued at $12 per ton in 1926 with silver valued at 0.65 per ounce. The mine has not operated since the 1930s
Lawrence W. Gillespie held the property from the late 1950s until 1980. He acted as a watchman and a miner on the site. He passed in 1982. Local rumor has it that he buried hundreds of pounds of silver bars on the property through the 1970s when silver was less than $5 an ounce. He was sure that someday it would increase in value.This is completely unsubstantiated but has been repeated by numerous people in the region.
A few quick facts:
• Easy access via county-maintained roads.
• Heavy timber cover on most all of the property
• Two standing mining buildings in the main mining camp.
• Access for large trucks and equipment.
• Site of Peerless Jennie Historic Silver mine
• Galena, Sphalerite, Pyrite and Quartz ores
• Dumps of at least 119k tons on the property
• Surface assays of 18 oz of silver per ton.
• 2,142,000 oz. unprocessed silver on site.
• Blocked Reserve assays (from USGS) 50 TONS OF ORE AVERAGED 900 OZ/TON AG, 200 TONS OF ORE AVERAGED 500 OZ/TON AG. – total 145,000 oz. Silver.
• Also encompasses Historic Blackhawk Silver Mine
• Dumps on Blackhawk are 11,500 tons. Assay value is 34 oz. per ton.
• 100% Mineral Rights transferred with sale.
This area has been expanding rapidly. Prices in the Rimini area (below the Peerless Jennie) have been increasing.
Property is appraised at $1,400,000.00. based on the a fraction of the Silver Reserves on the property. There are no other silver mines in the area with documented reserves or land that has similar characteristics.
Winning bidder will take 100% ownership of all Surface and Mineral rights and right to development. No permitting is included or implied.
Bidder is responsible for all diligence and validation of information provided.
Absolute sale of real property. Please view all terms and condition of the auction and be prepared to abide.
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