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Miners Basin, also known as simply Basin, was a mining town at over 10,000 feet elevation on Mt. Waas in the La Sal Mountains. With a peak population of about 75 or 80, the town flourished for about 20 years after gold was discovered there in the late 1880s. The first claims were staked in the area around 1888, and a formal mining district was organized 10 years later. Silver and copper were also mined in limited quantities, in addition to gold. At its heyday, the town boasted a hotel, a store, two restaurants, a blacksmith shop, a post office, and two saloons. However, the mines were closed in 1907 as a result of a nationwide financial panic, and the town died shortly thereafter. Even so, a few diehard miners remained on the mountain for decades afterward. A few log cabins and other structures still remain in the area.(*)