White Owl Lake is North of Glenwood Canyon, high altitude (10,000') and fairly remote (you have to take a somewhat rough 30+ mile dirt road to get in.) There are actually several lakes in that area (Heart Lake, Deep Lake, some others) and AFAIK kayaking is allowed. Views are unbelievable and as I said, it's remote enough that you shouldn't have too many other people around.
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There is a 4x4 trail that goes to White Owl from the town of Glenwood Springs but I've never taken it so I can't comment on it. The easier option would be to come up from Dotsero, take the Colorado River Road North to Coffee Pot Road (this is the 30+ mile dirt road I mentioned above.) The views from Coffee Pot Road are amazing as the road clings to the side of the mountain as it goes up. No guardrails, needless to say, so if you want to look or take a picture, best bet is to stop.

Another great stop along this road is the Deep Creek Overlook.
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White Owl is a NFS developed campground so you have to pay to camp there but there are lots of areas just off the Forest Service routes that are good for primitive (free) camping. The general rule in national forests is that you can camp where you want unless there's a sign or other indication that you can't. As a policy, the NFS encourages users to occupy previously used campsites which can easily be found by the presence of fire rings made out of rocks, and usually "turn outs" where people park their vehicles. Re-using previously used campsites keeps from damaging too much of the forest (and besides, there's usually a reason somebody decided to camp there - a natural shelter, a clearing in the trees, a spectacular view, etc.)
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As always, tread lightly, pack your trash out and don't ruin it for the next person! :ylsmoke: