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: Roosevelt Lode-CMC287551 SW 1/4 of Section 20, 50N 4E NM Meridian Roosevelt 2 Lode - CO105228505 SE 1/4 and SW 1/4 of Section 20 50N 4E NM Meridian The Roosevelt Property is a very historic Mineral Property located in Gunnison County, near Pitkin, Colorado. The property is also a well documented gold/silver/copper deposit with over 500,000 ounces of gold blocked underground. In 2020 the site was sold on contract to a private party and permitted for development. After less than 2 years of operation, the party failed to make the payments for the property and the site was foreclosed on by the seller in 2021. Foreclosure was completed in 2023 and the property is now being offered by Terra Firma Auction Services on behalf of the owner at NO RESERVE. 40 acres on Quartz Creek on the way to Pitkin, Colorado. The Roosevelt is a one of a kind testament to mineral development and unreported gains. A massive double battery stamp mill was moved into place in 1923-24. nearly 100 years ago and 5 years after the official history shows it as "abandoned". The property has been professionally surveyed and mapped including subsurface mapping. Chip samples from the underground development average over 10 oz. AU per ton. (note this is an average based on some very high grade samples) There is also significant copper and silver present. The mine was surveyed in 2015 and 2021 and mapped at 4,270' of workings with a large amount unsurveyed. There are concerns with low air concentrations in the mine and ventilation is recommended in the technical report. A large dump (unprocessed) of over 480k tons is on site. Dumps were assayed by the previous operator at an average of 0.226 oz. of Gold per ton. Tailings are over 20,000 tons. A true testament to the amount of work and ores that were processed here. A report from the last documented operations states: "Geologists document at least one, but likely 3, horizontal veins with a sizing of 800’ by 19’ by 19’. The gold assayed as 18.855 oz/T and copper at 8%. Based on a cubic footage measurement, this would equal 288,800 cubic feet, @ 175lbs per foot, 25,270 tons total. This would give a measured gold asset of 476,465.85 oz. and 4,043,200 lbs. of copper. " The property was large enough to warrant the construction of an entire powerstation on the river below to power all of the equipment and machinery. You will likely never find another property, at any price with the types of assets, masonry and history that the Roosevelt has. All documentation and information is presented for informational purposes only. Terra Firma Auction services bears no responsibility or liability for the information presented.