Take a tour: Scottsdale mine up for sale could have $60M of gold inside

Posted at 5:45 AM, Feb 14, 2018
and last updated 2018-02-14 12:51:01-05

High above Scottsdale on Old Mine Road sits a property that fits right in with the street name. It's the largest piece of land for sale in Scottsdale at 117 acres, with its own spring and even a gold mine.

Originally discovered in the 1870s, it's believed prospectors started digging and found gold on the mountain around 1874 and continued mining until the early 1930s when the gold rush fizzled out, according to Preston Westmoreland, with Russ Lyon Sotheby's International Realty. 

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Explore inside the gold mine using the 360º video below.

Today the entire property, mine, original surveyor notes and mineral rights associated with the land are all for sale, listed at $2.79 million.

"I think there's a lot of different uses someone could have for this and it's just whatever their imagination is," said Westmoreland. 

According to Westmoreland, early geological studies done in the mine and on core samples indicate there could be $60 million worth of gold still in the mountain that was never extracted. The question is, what will it take to find the gold and how much will it cost to get it out?

The original discovery tunnel and mine shaft all remain inside the mountain, believed to run the entire length of the mountain and go up at-least 30 stories inside the center. Westmoreland estimates there could be as many as 50 tunnels throughout the mountain dug by early miners on the hunt for gold.  

To view the listing for this property click here.  

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