You can own all mineral rights (includes water and timber) if it is an old, legally purchased, patented mining claim, as my property is.
Have to be careful with water in the West. Lot’s of legal stuff but as a general guideline you are right. I own 12 acre feet of water from a ditch system off the Truckee River. Use it or lose it. Worth a ton of money. Lease it every year for some ammo money.