79 UNPATENTED ARIZONA GOLD MINING CLAIMS HIT THE AUCTION BLOCK ON JULY 22ND
U.S. Bankruptcy Court Directs the Sale of 24 Placer and 55 Unpatented Load Mining Claims Including the Golconda Mine in La Paz County, AZ by Sheldon Good & Company
New York, NY – May 27, 2009 – Sheldon Good & Company Auctions (www.sheldongood.com), the nation’s largest real estate auction company, has been retained by bankruptcy court to auction gold mining claims with proven reserves located over an expanse of 1,000 acres in Quartzsite, Arizona.
Twenty-four placer and 55 lode mining claims, unpatented, as well as any other unpatented gold mining claims, and other rights relating to the Golconda Mine in La Paz County, AZ, will be offered in an open outcry auction. All mill-site equipment and stockpiled material on site is also included. The U.S. Bankruptcy Court of the District of Arizona has approved the sale of the property and will accept the current bid of $625,000 or the highest bid over that amount. The land is approximately 125 miles west of Phoenix at the southeastern base of La Cholla Mountain of the Dome Rock Mountains.
The auction will be conducted on Wednesday, July 22nd at the Hilton Scottsdale, 6333 North Scottsdale Road, Scottsdale, Arizona. Registration begins at 10:00 am and the auction begins at 11:00 am. The property may be inspected on the following dates: Wednesday, June 17th; Thursday, June 25th or Friday, July 10th. Please make an appointment two days in advance of inspection by calling (800) 315-2199 X 4327. In addition, all bidders are required to purchase a Bidder’s Information Packet priced at in order to bid at auction. A certified check in the amount of $60,000 is required in order to buy at the auction.
“The auction process provides a unique opportunity for buyers to purchase these claims at their own price,” said Alan Kravets, President. “We anticipate a high level of interest in this unusual offering that includes the rights to mine gold in an existing mine with proven reserves. Having the equipment and material on-site included is an added bonus.”
La Cholla Mining History
Existence of the La Cholla, Oro Fino and Middle Camp Gold Placer deposits on the eastern slope of the Dome Rock Mountains as well as the La Paz Gold Placers on the western slope of the same mountains dates back to 1862. It all began when the Colorado River Indians guided a trapper, Captain Pauline Weaver, and his party to the rich La Paz gravels. Since the advent of discovery, deposits in the area have been worked intermittently.
Golconda Mine – Assay Results of Sampled Placer Minerals
The assay results of samples from the Golconda Mine revealed the presence of gold. The average assay result was .055 ounces of gold per ton of material from the workings as a whole. If only the samples from a probable paleo-river channel are taken into account then the average grade rises to .18 ounces of gold per ton of material.
Mineral Rights
Provides the right to conduct exploratory or development work as is necessary or convenient, the right to mine for and extract minerals and ores, and to use such surface lands as may be required for all such operations.
For further information about the forthcoming mining claims auction, please call Sheldon Good Auctions at (800) 315-2199.
About Sheldon Good & Company
Sheldon Good & Company Auctions has been rated the premier real estate auction company by a number of prestigious financial publications. The company has aggregate sales of over billion. For further information, please call Sheldon Good & Company at (800) 315-2199.
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