Want A Gold Mine? A Legendary One Is For Sale

The ruins of the Outdated Beehive Mine workplace

Preston & Nancy Westmoreland

The Outdated Beehive in Wickenburg is without doubt one of the largest gold mines in Arizona. Earlier than it ceased operation in 1942, it produced over $310 million value of gold, and that was from simply 30% of the vein.
A part of the Octave Mine complicated, which was developed by eight traders within the 1890s, it was in all probability first labored within the 1860s. 
Throughout its late 19th century heyday, the Octave Mine supported a complete city, with a submit workplace, a faculty, a common retailer and a stagecoach line. Right now, the mine complicated is on the market. Provided in three parcels or in a single complete piece, it’s comprised of 266 acres in a 3 and a half mile lengthy piece of land that’s solely 600 ft large. Claims observe the principle gold vein and its offshoots, rising over 5,000 ft excessive. Perched instantly above the gold veins, the property consists of 25 miles of tunnels, a effectively, electrical service at a radio tower and a two-bedroom off-the-grid residence. 

A protracted, skinny parcel follows the wealthy gold vein underground

Preston Westmoreland – Russ Lyon Sotheby’s Worldwide Realty

Better of all, the land is patented, which provides the property proprietor unique title to the minerals underground. That is particularly vital as a result of, efficient 1994, Congress imposed a moratorium on spending appropriated funds for the acceptance or processing of mineral patent functions. Since then, the Bureau of Land Administration has not accepted any new patent functions.

“This land can completely nonetheless be mined,” says itemizing dealer Preston Westmorland of Russ Lyon Sotheby’s Worldwide Realty. “To begin up operations, the proprietor must shore up tunnels and put in infrastructure, however in any other case, this mine has a really wealthy vein that may produce much more gold.”

He factors out that the property consists of the Nugget Pit, the place gold nuggets have been discovered ranging in dimension from that of a walnut to that of an apple. One of the vital well-known nuggets recovered there may be known as “Nessie.” Roughly the dimensions of a human hand, it resembles the form of the Loch Ness Monster.

“Nessie,” a hand-sized gold nugget, is claimed to resemble the Loch Ness monster

Preston Westmorland – Russ Lyon Sotheby’s Worldwide Realty

The present proprietor believes that there’s enormous potential for a future payout.
“Just about your entire vein system east of the radio tower is unbroken, apart from the excessive grade and exploratory work on the Verno and Beehive websites, which was actually simply scratching the floor relative to the work achieved on the Octave,” he says. “The shortage of actual mining east of the tower was not on account of lack of accessible vein materials, which may be clearly positioned on web site even right now, however primarily due to fractured possession and market timing points through the years. The fractured possession points are not a problem and the small particular person claims have been mixed to a dimension now encompassing the overall vein system like by no means earlier than.”
In a five-page cowl story, Prospecting and Mining Journal states “That is the primary time all of those contiguous mining properties have been united underneath the management of a single proprietor.”

A two-bedroom house is a part of the property

Preston Westmoreland – Russ Lyon Sotheby’s Worldwide Realty

The three parcels on provide embody the historic Octave Mine and 105 patented acres for $ 5,195,000; the highly-mineralized Higher Vein, together with the well-known Beehive Mine, which has produced the biggest nuggets on the mountain, together with the Nugget Pit, Thunderbolt, Verno and Twin Tunnels, plus a cushty two- bed room residence with vitality system, a effectively, and a street to the highest of the mountain. Encompassing virtually 162 patented acres, it’s provided for $5,285,000. 
The whole parcel, which incorporates each sections, is obtainable for $eight,675,309.
In most lives and locations, a gold mine is a metaphor. However on this case, it’s a very actual alternative.

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