×

HILCO REAL ESTATE TO SELL HISTORIC CORNCOPIA GOLDMINE IN HALFWAY, OREGON

NORTHBROOK, Ill., Feb. 22, 2016 (GLOBE NEWSWIRE) -- Hilco Real Estate, LLC announces the offering of the historic Cornucopia Mine in Halfway, Oregon. This rare property is located on the site of a former Gold Rush boomtown and includes an expanse of nearly 900 acres of surface land. Subsurface mining claims include 1,000 acres of patented claims, 170 acres of unpatented lode claims, and 1,560 acres of unpatented placer claims.

Gold was first discovered at Cornucopia in 1884, and it was platted as a town in 1886. By the turn of the twentieth century, the gold rush had ended; however, Cornucopia established itself as a small, commercial mining town and a consistent gold producer. Mining operations ceased at Cornucopia in 1941 during World War II, and have not been returned to service since. Over its lifetime, the mine has produced over 1 million tons of ore containing in excess of 300,000 ounces of gold and 1 million ounces of silver. An underground core drilling study conducted in 1987 indicates rich gold reserves and resource categories that, when paired with modern mining technology and equipment, has the potential for favorable mining yield, including 61 patented load clams, 1 patented placer claim, 200+ unpatented load claims, and 19 unpatented placer claims.

Adjacent to the Wallowa-Whitman National Forest, the property's unique geography and natural beauty resembles alpine camps in the Rocky Mountains.

David Kirshenbaum, Senior Vice President of Hilco Real Estate commented, "Throughout Cornucopia, there are miles of breathtaking views and an array of untapped potential for mining, development, ranching, recreation, conservation, and other commercial opportunities."

Mr. Kirshenbaum continued, "Eastern Oregon offers a number of year-round recreation options, including camping, hiking, mountain climbing, cycling, horseback riding, hunting, fishing, boating, whitewater rafting, snowmobiling, and cross country skiing. Within this backdrop, the property represents a blank canvas for an investor with vision."

The Cornucopia Mine is located 12 miles west of the town of Halfway, Oregon, less than 20 miles west of the Oregon and Idaho border, and 65 miles from Baker City, Oregon. The property is accessible from Oregon Route 86, US Route 30, and I-84. Air transport is served locally by Pine Valley Airport (45 minutes) and internationally by Boise Airport (3 hours) for commercial travel.

For more information about qualifications to participate in the sale and to obtain further due diligence materials please visit www.HilcoRealEstate.com or contact a member of our transactional team at 855-755-2300

About Hilco Real Estate, LLC: Hilco Real Estate, LLC ("HRE"), a Hilco Global company, is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets.

CONTACT: Gary Epstein Hilco Global Office: 847-418-2712 Mobile: 847-323-4943 Email: gepstein@hilcoglobal.com

Source: Hilco Global