Early in 1881, the Mount Cory Mining District was established in the vicinity between Corey Peak and Mt. Grant after promising silver discoveries. A new townsite, Cory City, was laid out and soon gained a large boarding house, saloon, and store. The availability of water worked to the new camp's advantage, and soon an eight-stamp mill was in operation at the Big Indian mine (the largest producer). By 1882, work on a new $30,000 road was underway connecting Cory City to the Carson & Colorado Railroad; meanwhile a telegraph line was completed as well. Around this time, the new town of Coryville was laid out.

During spring 1883, the Mount Cory Mine Company announced that it would erect a new reduction works. Work began in May, and during construction a new camp dubbed 'McKenzieville' (after Alex McKenzie who laid out the Coryville townsite and was superintendent of the Company), 'Spanish Town', or 'Spanish Camp' sprang up at the site with a large boarding house, four saloons, store, and restaurant. The mill, costing $750,000, was finally placed into operation early in 1884. Despite the intensive development, however, the mines soon gave out and Coryville folded by the end of the decade. The Mount Cory Reduction Works closed in 1887 and was dismantled in 1890. Only one permanent resident remained by 1895.