Like in the old West when someone or comes down the road to Bonanza you can see them for miles before they get there because of the dust kinking up. The Town of Bonanza is a Statutory Town located in Saguache County, Colorado, United States. Formerly known as Bonanza City, Bonanza is a largely abandoned former silver mining town. Bonanza is a Spanish language word meaning a rich mineral deposit. The town population was 16 at the U.S. Census 2010, making Bonanza the second least populous incorporated town in the State of Colorado. The Villa Grove Post Office now serves Bonanza. Colorado Fine art nature landscape photography images by James Bo Insogna (C) - All Rights Reserved.