WARNING – SUPER HUGE SPOILER AHEAD!
Do not proceed unless you want the exact location of the satchel!
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Ok, you have been warned. To follow these directions, you will find it useful to use the ‘Print Party Location' option which is conveniently located in the ‘Actions' menu (at least in the Windows version).
Enter the Abandoned Mines and head south, then turn east. You need to go to the stairs which lead down to Abandoned Mines (L2) at X=9, Y=42. Go down the stairs and travel east to about X=42, Y=25. From here, go north and up the short the short flight of stairs. At the top to the stairs, proceed north, through the secret door at X=42, Y=14. Continue north over another short flight of stairs and you will find yourself in the main goblin party-area. You need to go west-northwest from here. The satchel is located on a corpse at X=24, Y=2 or X=25, Y=1.