The main nucleus in the Fraele valley was once the hamlet of San Giacomo (St. James), which, although reduced to a modest group of dwellings, retained considerable importance as it was characterized by the presence of the medieval church of San Giacomo (St. James), documented as far back as the 13th century, next to which was a hospice for wayfarers and pilgrims.
The area also housed iron mines and forges where raw material was processed before being transported to the forges in the valley.
The village was probably inhabited all year round, at least until Napoleonic times, when the village was practically razed to the ground and the inhabitants were forced to flee to Premadio and Pedenosso.
In the first half of the last century, shortly before it was submerged by the waters of the dam, the village still boasted a barracks of the 'Guardia di Finanza' (custom), a post office, a tavern, and the aforementioned medieval church of San Giacomo (St. James). But from 1950, the site of the old church was submerged, and the last sign of that building, represented by the bell tower rising above the lake, disappeared in 1953.

The unexpected discovery of the remains of the Church of San Giacomo (St. James) on the shores of the lake dates back to the summer of 2022, followed by the excavation campaign in the summer of 2023, conducted by the University of Bergamo, the Stelvio National Park, the municipality of Valdidentro and the AEM-A2A Foundation.
The discoveries surprised the experts: from the pile of stones that once formed the church of San Giacomo (St. James), the entire structure was revealed. Under this heap, after more than 50 years submerged, the walls were found, one of which (the north wall) is still intact up to a height of 1.60 meters. Collapsed fragments, floors, and even traces of frescoes from the presbytery, hidden under the plaster and brought to light by the water, have re-emerged.
By studying the perimeter plan and the emerging materials, a historical reconstruction of the building was hypothesized: the walls of the nave are the oldest (dating back to the 11th-12th centuries), followed by the Renaissance apse and bell tower, contemporary with the external buttresses. Later, a forepart, called the atrium, was added. A wooden threshold was also discovered in the apse, confirming the existence of a raised floor.
These exceptional findings and the discoveries of the meticulous excavations are fundamental above all for the significance they bring: restoring dignity to a heritage that was all too soon forgotten, rediscovering the historical value of a valley that for centuries represented a nodal point in Europe, and restoring awareness to the territory and its people.

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