From Historical Rutland: an illustrated history of Rutland, Vermont, from the granting of the charter in 1761 to 1911 by Rev. F. E. Davison, Rutland, Vt.: P.H. Brehmer, 1911, page 9:
Silver Mine on West Street
About half a mile from the court house, in the main street, a silver mine has lately been discovered, said to be of great value; but for the truth of this I cannot be answerable; though beyond a doubt there is a copper mine in the vicinity; and there are great quantities of iron ore near Rutland.