Historical Site of the Former Free Mining Town of Pressnitz

Preßnitz (Czech Přísečnice) was an old mountain town in the district of Aussig (tscheschischÚstecký kraj) in the Czech Republic. With the decision to build the Preßnitz dam, the place was resettled and given up in 1973–1974. The former urban area is sunk under the surface of the water.
Until 1974 it was located on the ridge of the Ore Mountains at the point where the reservoir of the Preßnitz dam extends today. The land registry of Přísečnice covers an area of 1290.0872 ha [1] and belongs to the municipality Kryštofovy Hamry.
The old Passort Preßnitz, first mentioned in 1335 as oppidium (small town), received a mint around 1340 under King John of Bohemia, in which Bohemian groschen, the so-called Bremsiger, were minted with the inscription: "Johannes primus Dei gratia Rex Bohemiae". Emperor Karl IV granted rule over the place to the lords of Schönburg on Hassenstein. At the beginning of the 15th century it became the property of the Lobkowitz family. In 1533 Count Hieronymus and Lorenz Schlick acquired the Preßnitz rule. Silver mining flourished under the Schlicks.
The Bohemian and Roman-German King Ferdinand I, who was the new owner of Preßnitz from 1545, elevated the place to a royal free mountain town a year later.
Source: de.wikipedia.org/wiki/P%C5%99%C3%ADse%C4%8Dnice

Beautiful description of the history of the city Pressnitz and the surrounding defunct communities.

The information board on the dam actually explains everything. It is interesting that the mining town of Pressnitz was almost as big as Annaberg-B. and equally important. The drought can also be seen in the reservoir, the water level is missing at least 3m.