The Bonanza Empire Chief Mine and Mill reflected the fleeting fortunes common in the San Juan Mountains. The Bonanza Lode was discovered on July 4, 1885, but little work was done until 1901, when the Henson Creek Lead Mines Company issued $1,500,000 in capital stock and began building a three-story concentration mill. In the following years, little underground work was completed, though above-ground facilities such as an electric power plant, boarding house, and blacksmith shop were developed, while bonds were issued to cover mounting debts. In 1906, more than 3,700 feet of drifts were driven into the mountain as miners pursued veins of galena, zinc, silver, and gold, but the promise of fortune was short-lived and the mine shut down again in 1907. A brief revival came in the 1920s when the mill was retooled, but little high-quality ore was produced. In 1929, the mill was reworked again, yet low ore values, rising coal prices, legal battles, transportation problems, national financial problems, and a devastating avalanche forced the mine to close. The property was eventually liquidated through a series of Sheriff's Sales. The mill was stabilized in 2000 by the Bureau of Land Management and the Hinsdale County Historical Society, but an avalanche in February 2008 destroyed the structure.