In 1896, prospectors founded the Bare Hills Mining District in this area. Promoters selling lots declared Bare Hills City "the future great town" of the area because it was "surrounded by veins... assaying high in gold" with "...the whole formation being the same as the gold belt of Cripple Creek." Soon, people flooded into the area, including some reputable investors. The 1898 Colorado State Mining Directory lists fourteen mining companies in the Bare Hills District. The initial optimism died as the promoters' claims proved to be more dream than reality. Within a few years, only a few families remained. The area is part of a cattle ranch and private property.