Although Carbonate began around 1881, it didn't amount to much until 1885 when the Iron Hill Mine, the most celebrated of the Carbonate mines, began to produce gold, silver and lead. By 1891 the mine had produced $667,000 worth of ore. A number of other mines in the area including the Seabury-Calkins, the Pocahontas, the Union Hill, the Spanish R, the Richmond Hill, and the Adelphi were all good producers. By 1892 the town was about played out. Silver prices had declined and an epidemic of diphtheria had struck the town sealing its fate. There is still much to be seen at Carbonate, which can be reached by going west for about four miles from Maitland.