The Grant brothers discovered gold ore in 1886, and started the Denver City Mine which took three years before they could ship any low-grade ore. The Dirigo mine was more promising, and in 1894, the gold rush led to the establishment of two towns – Iris and Chance. Iris was first named Union Hill, but was later renamed after a 10-year-old girl, Iris Heiner. By 1895, Iris had grown to 20 stores and residences and had its own newspaper. In 1896, more stores were added, but the amount invested in the mines exceeded the value of the ore recovered. Iris had a spurt of new activity in 1901-1902 before fading into history.