Gold mine near Wickenburg for sale; sale price of $5.9 million - Los Angeles News | FOX 11 LA KTTV

Gold mine near Wickenburg for sale; sale price of $5.9 million

Posted: Updated:
  • Arizona HeadlinesMore>>

  • Search for a good Samaritan

    Search for a good Samaritan

     

  • Shooting at Fry’s in Phoenix

    Shooting at Fry’s in Phoenix

    Phoenix Police say one person has been shot and another is in custody from a shooting Sunday evening at the Fry’s on 19th Ave and Glendale.It started as an argument at the front door of the grocery store between 3 people. One of theme pulled out a gun and fired at the other two, hitting one putting a hole in the sliding glass door. Police say the suspect drove away in a car and was found a few miles away from the scene.The person shot has non-life threatening injuries. Police say those involv...
    Phoenix Police say one person has been shot and another is in custody from a shooting Sunday evening at the Fry’s on 19th Ave and Glendale.It started as an argument at the front door of the grocery store between 3 people. One of theme pulled out a gun and fired at the other two, hitting one putting a hole in the sliding glass door. Police say the suspect drove away in a car and was found a few miles away from the scene.The person shot has non-life threatening injuries. Police say those involv...
  • Tentative deal reached on VA reform

    Tentative deal reached on VA reform

    WASHINGTON (AP) -- The chairmen of the House and Senate Veterans Affairs committees have reached a tentative agreement on a plan to fix a veterans' health program scandalized by long patient wait times and falsified records covering up delays.Rep. Jeff Miller, R-Fla., and Sen. Bernie Sanders, I-Vt., scheduled a news conference Monday to talk about a compromise plan to improve veterans' care.Miller chairs the House veterans panel, while Sanders chairs the Senate panel.A spokesman for Sanders s...
    WASHINGTON (AP) -- The chairmen of the House and Senate Veterans Affairs committees have reached a tentative agreement on a plan to fix a veterans' health program scandalized by long patient wait times and falsified records covering up delays.Rep. Jeff Miller, R-Fla., and Sen. Bernie Sanders, I-Vt., scheduled a news conference Monday to talk about a compromise plan to improve veterans' care.Miller chairs the House veterans panel, while Sanders chairs the Senate panel.A spokesman for Sanders s...
PHOENIX (KSAZ) -

If you've always wanted to have your very own gold mine, there's a place outside Wickenburg you should check out.

But bring your checkbook, because it's on sale for $5.9 million dollars.

The mine is historic, dating back to the 1860's and FOX 10 was invited inside for a look, it turned out to be an eventful journey both underground and back in time.
    
It's certainly an adventure exploring the octave mine.

Squeeze through a tight space, and it's a steep descent down into a labyrinth of tunnels.

If you're not a fan of tight spaces, this may not the place to be, but if you love gold you may be willing to make an exception.

The incredible story of the Octave mine started in 1863. Some Arizona pioneers heard stories about gold in the mountains near Congress, Arizona.

"They decided to come over here and look for the gold. It took them about two months and they were tanning antelope hide, and one of the guys went to a stream bed and found raw gold sitting there, placer gold. They all came over and in the first afternoon they picked up ninety ounces of gold that is worth today $123,000," said Preston Westmoreland with Russ Lying Sotheby's realty.

Signs of the early miners are everywhere. Old pieces of wood hold up the rock walls, the only things holding back a cave-in.

There are about 25 miles of tunnels in this mine, some as deep as two thousand feet.

"What they did is tracing the vein this way and hoping to find the ore in pockets, because that is how the material comes," said Gary Pechin.

Over the years, the Octave mine has produced over two hundred thousand ounces of gold and seventy five thousand ounces of silver.

The mine has changed hands a number of times changing the look of the mine, for instance, the old mill that used to stand at the mine is now gone.

If you go down in the tunnels past the 800 foot level, you'll be underwater. But the octave still has its special allure. Which is why the price tag is five point nine million dollars.

"I will tell you in the last month we have had a mining engineer tour the property and scamper down in the tunnel from Mumbai, India, two Japanese investors, an investor from Austria flew in, and there were two carloads of Canadian investors from Vancouver," said Westmoreland.

New high tech mining could unlock precious metals beyond the reach of the old picks and shovels.

There's still gold in them thar hills, and as long as there is, somebody will want to keep digging.

To view the listing visit: www.luxurydeserthideaways.com/octave.html

Didn't find what
you were looking for?

Powered by WorldNow

KTTV FOX 11
1999 S. Bundy Dr.
Los Angeles CA 90025

Main: (310) 584-2000
News Tips? (310) 584-2025

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices