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: Golconda Lode - CO101849419 NE 1/4 and SE 1/4 of Section 29, 43N 6W NM Meridian Golconda 2 Lode - CO105234305 NE 1/4 and SE 1/4 of Section 29 43N 6W NM Meridian The Golconda Property is a significant Mineral Property located in Hinsdale County, near Lake City, Colorado. The property is registered on the Colorado Historic Register. The buildings were restored by Historicorp in 2014. There is substantial underground develpment on the property. Gold is the primary asset and occurs as globs and chunky veins in quartz and pyrite deposits. Galena is also prevalent and contains varying amounts of silver. Full assays are documented in the technical reports. The site does have 4WD roads that allow access. ATVs or SxS are recommended by the seller for initial access. Property was sold on contract to a small mining company in 2019. In 2021, the Mining Company filed for bankruptcy, failing to make required 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 in Hurricane Basin, outside of Lake City, Colorado. The property sits at roughly 12,300' . The property has a history of gold production up to 1981 when the prices of gold dipped from $800 per ounce to $300 per ounce. The last major operation pulled out at that time. This last company drove a 1500 haulage adit to access the lode vein deposits, they were unable to use the original haulage drift due to ice blockages. It was cheaper to punch through rock than ice. The property has been professionally surveyed and mapped including rudimentary subsurface mapping. Assays were taken from the dumps, and from the material around the two main portals. These numbers are contained in the technical mining report. The mine is not currently accessible. The gate will need to be opened and has been blocked by heavy snows. Buildings on site can be utilized as base camps or operations. They are registered as historical sites so they should not be modified or damaged. The Golconda offers a rare glimpse into historic mining in high country Colorado. It also offers an opportunity to own a piece of that history and to work the gold and silver deposits for a profitable venture. All documentation and information is presented for informational purposes only. Terra Firma Auction services bears no responsibility or liability for the information presented.