Where Is It?
The Rocky Mountains are a large mountain range. So that people do not scatter all around the place rather than moving towards, move away from the radius of where the treasure is hidden. Fenn closed the boundaries for them. Somewhere at the end of The Thrill of the Chase Fenn specifies the location of the chest as somewhere in the eastern Rockies. This could mean any of the places from Colorado, New Mexico, Wyoming or even Montana.