Wednesday, October 27, 2010
Mineral rights not included in state's bid for Ortiz Ranch
The state's proposed purchase of the Ortiz Mountain Ranch to expand Cerrillos Hills State Park and launch a wild-horse sanctuary won't include the mineral rights. The privately owned mineral rights have been leased by the owner to Santa Fe Gold, an Albuquerque-based company, according to state officials. The mineral rights belong to Anne Potter-Russ, a Kansas resident who inherited thousands of acres of mineral rights around the Galisteo Basin and Ortiz Mountains from her grandfather. She did not return messages left at her home by Monday evening. According to Santa Fe Gold's website, the precious-minerals company leased exploratory and development mineral rights to 57,000 acres (90 square miles) of the Ortiz Mine Grant in 2004, but later relinquished the lease on 14,000 acres of the land it considered not valuable. The company's preliminary studies indicate there could be 2 million ounces of gold scattered about in deposits on the remaining land...more
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I’ve read the article and wow, two million ounce of gold? Now, that’s a lot of mineral to drill, eh! Well, in most parts of the United States, split estate is automatically applied. We’ll if the drilling company really wanted to frack the Ortiz Ranch, then it’s best to just follow the legal rules. I bet they did. =)
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