The owners are willing to sell the property for $33,000,000, or do a joint venture from $1,900,000 to $6,000,000. An investment of $7,900,000 may return $79,000,000, or ten times at 43% net-profit share. When the investor has received a net return of $79,000,000, he will receive a 15% net-profit share for the mine life. This is a Gold and Silver mine just 9 miles outside of Georgetown, in the heart of the Colorado Rockies. This is a combination of both patented land and mining claims. The mine has produced 20,000+ ounces of gold based on incomplete historical records. In the Santiago Ore shoot alone there is an estimated 2016000 ounces of gold and 4,320,000 ounces of silver, with proven: 60,000 tons of reserves. Estimated total reserves are at: 240,000 tons. The mine also produces copper 3.31% and lead 6.06%. The gold averages .84 oz./ton gold; 20.7 oz./ton silver. The mine is currently inactive. Permits NOI and 110-2; jumbos, haulage, milling equipment are included with the purchase. The total acreage is 160 acres (120 acres plus 40 acres pending filing for CNC members). In lieu of NI43-101, because of extensive records of tunnel-stope maps, shipping, milling and smelters of Santiago properties and seven other adjacent, proven-mine properties along with hundreds of assays, historical records from personal files, Colorado School of Mines, Bureau of Mines, Bureau of Land Management, historical files of Clear Creek County, geological records from a geological engineer, Mosch; beneficiation study of proven reserves; engineering reports from McFadden, and many others, gives Santiago Mining Company a fair head start for completion of an NI43-101 study to be completed in year three, as mentioned in the Executive Summary. Through review of company archives by a qualified geological engineer, it will be clear regarding Company mining concepts for Santiago Mines on Mt. McCLellan. Option #1 $1.9 million to begin Mining Secured with a $2,850,000 payback. Investment of $1.9 million, fully protected to be used for the following: Site and above ground development, including early recovery of the estimated 60,000 tons of verifiable, already mined ore and below ground drifting on ore in pursuit of opening Santiago ore bodies. This first phase of construction and development will take on full mining season. At season’s end, the investor will inspect development work and decide on participating in the Joint Venture. Option #2 $Investment of $6 million to include participation in a Joint Venture with equity and net profit sharing for the life of the mine (estimated to be 62.5 years). An average 6 month mining season will return the Joint Venture Partner the average of $11.5 million net revenue per year starting at the end of the ramp up period or $345 million in the first half of the estimated years of mine operation. If Option #2 is not exercised, the investment capital of $1,9 million will be secured with prove, processed, already mined reserves and other equities on newly mined ores until the investor receives a return of $2,850,000. This will terminate Option #1, and the investor will have no further involvement in the Santiago Mines.

The mine closed in 1965-6 when Colorado Fuel and Oil changed directions, moving out of mining properties. The claimant of the time intended to work  the property with his brother, but tragedy struck as his brother was killed in a nearby mine. Disheartened, the bulkhead doors were shut and the mine was closed to allow for a period of mourning. The intent was for the mine to re-open. However, that never happened. While the mine remain sealed for the next 40-50 years, the EPA decided to remove all of the tailings from the workings. There was nothing to incite this except for a federal agency with too much money and too little oversight. The result is what you see today. A large mine that shows nearly no tailings at all.

The mine is documented as having assayed samples of over 6 ounces gold to the ton. In addition to being an exceptionally rich, and large mine underground, this claim covers a host of historic buildings that are in excellent condition.

Creede boasts a great historical society and I’m sure they would be happy to help out any efforts to revitalize a mine in this epic district. A steep and well graded road runs north out of Creede, and is signed as the Bachelor Loop Road. At about 10800ft. after passing numerous old mining artifacts, and approximately ¾ of a mile up the road, we arrive at the Midwest Mine. The site was reclaimed in 2004.  All pre-existing tailings have been removed and capped. There is a grass field planted where the tailings used to be. It doesn’t look natural and definitely distracts from the historical flavor of the area. This is a wetland, nasty area full of mosquitoes, even when cold.  That said, the buildings have been well preserved and while the entrance to the mine requires a dig out, the rest of the site is relatively intact. Just don’t expect to be digging up any bottles or relics. The Surveyors reported the discovery of a small creek that runs just below the mine.

With that in mind, this is one of the most impressive claims you will ever see in the area. The mine is a massive intrusion that was, according to documentation, cut in on a wide vein of gold. This was in the lower workings, which reportedly connect with the upper workings. These drifts working the top and bottom of the vein.

On the claim, at the main camp, there are three buildings and one outhouse. We found a 20’x40’ separating building. This is the Main building that the track runs into. The building is very stable, wood construction with corrugated steel exterior. Inside the building the windows are boarded up, and there are thousands of boxes of core samples. There are two separated rooms; one contains an era correct refrigerator. The core samples are stacked 2 to 4 feet deep in the building and the floor cannot be seen. It would be simple to secure the doors and this building.

We also found a smaller home type building that has a main room and a side room. Approximately 12’ x 10’ in size. This building is also in great shape, estimated build time is 1940s, judging by the door, floor and wall construction and materials. This building is also secure, with boarded up windows and working doors. This would be simple to secure as well. The building is full of Core Samples, similar to the other buildings. At least 3000 core samples, some still in boxes.

The last building appears to be a workshop of some sort. The door is loose and would need work to secure. Approximately 1960s era construction. It has a few hundred core samples in it.

All of the buildings have been reinforced with corrugated steel and are open and accessible, all in excellent condition. In addition to the buildings there is an outhouse near the existing rail line. This is original and likely 1910-1920s construction. It has not been molested and is not “dug out”.

There is a sign, noting a brief, if uncomplimentary history of the site. The main goal of the sign is to boast at the feat of how the EPA, along with the Colorado division of Reclamation removed all of the historic tailings and resurfaced the area. Basically destroying the historical landscape and violating the context for the sake of spending a few dollars on a mine that was causing no issues. It is disconcerting to not be able to examine any tailings, as the history of the mine indicates it is over 8000 linear feet of drifts and stoping intercepting gold and silver deposits. This sign also verifies a depth of 2500 feet (minimum).

There is a 1960s construction; wooden entrance 15–20 feet long over the mine portal, the back-filled dirt does not come out of this wooden cover. From the portal there is a length of track extruding almost 25 feet before it splits, continuing both south and east. The Eastern leg of the track runs to the edge of where the tailings used to be. Assumption is this was completely waste tailings. The other leg of the track runs out and into another building. Also 1960s construction. Likely for shipping of the high grade ore. There is extensive area for staging on site.