I spy

[Azrakhor Akallabeth]

I spy with Saurons Eye
An object grey and cold-
Not caverns deep,
nor vaulted Keep,
still, something new
yet old.


Misty Mountains: No, and Too generic

"still, something new
yet old."

Old would cover the Misty Mountain Range but something new? Think of a thing newer than it's host object of origin. Here is another clue...

Beyond the tall
and frothy falls,
The Faithful's
northern lands-
not marked by gates
or fortress walls,
but stern majestic hands.

Even the least inquisitive of Hobbits could guess this one, now.