| Description |
Auction for 100% ownership of the Monte Carlo Mineral Property in Tooele County, Utah. Ordered foreclosure on the current lessees due to non-payment.
100% interest and ownership in verified mineral properties with defined mineral assets.
This property will be sold to highest bidder with NO RESERVE on March 16th, 2024.
Legal Description:
Monte Carlo Mineral Property/MRO, 20 Acres
Tooele County, Utah
NE/NW/SE/SW 1/4 of SEC 14 T2S R7W. 100% MRO
USGS ID#: 10091655
The Monte Carlo Mineral Property is a fully surveyed, twenty (20) Acre Mineral property located in Tooele County, Utah.
The mine is perched at the top of Miners Canyon in Tooele County. There is a good 4WD dirt road that leads directly to the property. It is a narrow and steep road but is passable by full size 4WD with caution.
The site contains many historic items of days gone by including a Steam Engine and various other metal relics.
The site is located in the Free Coinage District. This is a very small district and the Monte Carlo mine was the dominant mine in the region up into the the 1920s .
The mine was reported to have been established from high grade Horn Silver deposits found on the ridgelines in 1902. The primary export of the mine was silver, lead with residual gold. Metallic ores show largely in quartz blocks as sulphides. The lead runs with silver and iron on pods and lenses. Please see images.
USGS reports there to be over 750' (250 Meters) of workings, Surveyors reported and mapped only 350' in the main workings with a shaft at the back of the main haulage adit. There is an raise near the end of the main drift that may have other levels.
USGS also reports hundreds of tons of reserves. Surveyors were only able to measure assays on surface dump material.
The prices of silver and lead are significantly higher in 2024 and it shouldn't be too hard to capitalize on this. Processing costs would need to be subtracted from this number for an accurate assessment of value.
The property has been appraised at $74,000.00 at 0.1% value of surface and or subsurface reserves.
This is a No Reserve Auction.
Properties have been professionally surveyed and documented with technical mining reports, assays, and documented mineral assets.
Winning bidder will take 100% ownership of all mineral rights and right to development. No permitting is included or implied and 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.
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