The start of mining activity in Jáchymov and the foundation of the town are very closely related to the Fundgrüben (or Discovery Mine) adit in the oldest part of the town. As recorded by Georgius Agricola in 1530, two miners unsuccessfully attempted to open up an adit near the Schottenberg mountain in 1512 after discovering the first seam of silver ore in the area. They were forced to abandon work on the Fundgrüben adit due to insufficient funds. In 1516, the count Stephan Schlick, who owned the Ostrov estate, began to finance the work. After only a few metres, significant silver deposits were discovered in the Fundgrüben seam. The discovery triggered a silver rush in Jáchymov. The mouth of the Fundgrüben adit is located on an undeveloped plot of land next to Platz der Republik 496 near the Baroque Chapel of St. Anne. The adit mouth, composed of mica slate, is covered by a grating and is not currently accessible.