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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 property foreclosure at NO RESERVE.
Legal Description:
Silver Cliffs Property - MRO- 20 acres
Serial: CA106363968
San Bernardino County, California
SEC 31, T3N R20E, San Bernardino Meridian.
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.
This is not residential or recreational property.
Real property, being sold unencumbered with no liens or back taxes. Fee simple transfer.
10% Buyers Premium
$695 Documentation/Closing fee.
Warranty Deed Available for $1295
The Grand Reef property is located in the remote hills of the Turtle Mountains. The property is significant for two reasons:
1. Documented reserves of 10,000,000 tons of gold ore at 0.05 oz. per ton. An estimated 500,000 ounces of gold to be mined.
2. Full Crusher, grizzly and wash system in place with capture basins.
The property was owned from 1944 to 2004 by a single family who maintained the property and mined an undefined amount of gold from the site.
Gold Rush Expeditions, Inc. negotiated acquisition of the site in 2006-2007. The property was sold to a Canadian JV group in 2012.
The site was foreclosed due to non-payment in 2020.
Access to the property is via 4WD only roads. The roads are clear for the most part but do cross several washes of deep sand.
Description from 2006 Survey of site:
"The Grand Reef is a very historic mine that has been producing gold up into the early 2000s, when the last owner passed away. It's a remote claim, long forgotten by most and has excellent potential as a mining property. There are many open cuts exposing rich gold ores that have been worked by the machinery on site. The roads are the roughest part of the claim, as the general path to the claim changes with every storm that washes through the canyon.
The mine is generally turn-key and ready to be worked by casual guidelines as is. The presence of a crusher on site is amazing. The logistics required to get a motor and crusher of this size on the site is staggering. Also, a cabin that is in relatively good condition will be a god-send when the summer kicks in and the heat index goes up!
The area is well-known for production of rich gold in placer and in-situ. There are many stories of lost gold mines and ledges in this area. It is remote country and likely that most of those lost gold mines have been found and have been, or are being worked. This mine is an excellent example of that.
The mine is located 57 miles outside of Parker, Arizona. From the highway, a very good dirt road/county road, leads to within 8 miles of the claim. A turn up a short wash winds up to the mine claim and the road is suited to high clearance 4WD or better. A small, but obviously profitable operation. There are leeching vats and a good crusher attached to a likely operational motor. The mine was probably last worked around 2000-2005 at the latest. High grade gold seems to be the target that is reached with ease as can be seen from the operations around the claim. The surveyors noted 4 short adit entrances, all cut on good gold bodies and processed on site. There is good free-milling gold in the veins and the crush/wash operation is set to maximize the return on the workings. The claim has room for 8-10 vehicles and trailers. There are flats near the old cabin and around the general workings."
From a 2012 Survey on the site:
"This is a collection of small, precise cuts, working on exposed gold bodies. The area is well known for placer gold, found in the canyon. This gold comes from the lodes higher up in the mountains, such as this mine. The mines can be worked using the same methods that were used 200 years ago: extract, crush, and separate. The mine is simple to work, and easy to make a profit, for those who know how to work for it. The gold has formed in quartz, which is easily identified and worked. This operation appears to have been only recently abandoned and is in excellent repair, ready for work without too much of an investment.
This is a short, open cut that has been worked for the gold content. Gold ore has been taken out and crushed on site and processed. There is good ore and plenty of it at the cut. Tailings show quartz, gold ores, iron. There are no high-grade plies of tailings, as the good ore could be processed on site, just as soon as it could be taken from the mine."
The road to the property is clear but does require 4WD for several sandy washes.
To be sold with NO RESERVE on OCTOBER 19th, 2024 at 12:00PM MST. Absolute sale of real property. Please view all terms and condition of the auction and be prepared to abide.
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