There are two blazes. You must be Wise and Choose One (like the hero in Indiana Jones choosing the Grail- mentioned in the Chapter Gold and More). There is also another hint to chosing the correct blaze. One of them resides on State land and the other on BLM land. The State Land is something that was created way back when.... In the 1790's the new US Congress wanted to survey the vast American Continent. They came up with a surveying system called (short description) the PLSS. Each area was divided into square Townships. Each Township was further divided into Sections. For future generations the wise leaders decreed that in each township there be TWO sections (Usually sections 16 and 36) whose purpose was to generate revenue to fund Schools. These School Sections may have moved around and changed over the years, but for the most part each one still generates school revenue. In Colorado these sections are leased to individual for Agricultural and Recreational purposes. My conclusion is that Mr. Fenn or one of his lawyers set up a shell company to SUB lease the right to recreational use from the Rancher whose family has leased this and many other School Sections in Western Colorado and Southern Wyoming for years.
There is a large feature in Mesa Verde (source of Mr. Fenn's silver bracelet) that is called School Section Canyon. Coincidence? Maybe not.
The Blaze I chose...
This Bench Mark is further found by a Magnetized Nail about fifty feet to the south of this location.