The Sun.
London, England, 1870-05-10 00:00:00

DIRECTORS,

Alfred Bryant, Esq., Mincing-lane, merchant.
James Davis, Esq. (late of Ulverston), Harley-road West,

Brompton.
J. Goodson, Esq., Kensington-gardens-square.
John Morkill, Esq., colliery proprietor, Leeds.
Charles Morris, Esq., chairman of the Fortuna Mining Company,
and director of the Economic Life Association.
John Potts, Esq., merchant, city of Mexico.
Bankers in London—The Consolidated Bank, Threadneedle-
street, London, E.C.
Solicitors—Messrs. Nokes and Carlisle, 8, Finch-lane, E.C.
Cushion-court, Old
Brokers.—Messrs. Woodall & Allen, 1,

Broad-street.
Secretary.—H. W. Mathias, Esq.
Temporary Offices.— No. 174, Gresham House, Old Broad-street,
E.C.

The large and valuable range of Silver Mines which • this com-
pany is formed to work is situated in the same rich district, and
in close proximity to the profitable Mines of the celebrated Real
del Monte Company, which, since its establishment in 1849, has
yielded Dividends to the Shareholders amounting to nearly
£3,000,000 sterling.
The grant contains a great number of argentiferous veins.
Fifteen are already known, and have been opened on, and it will
be seen from the numerous assays given herewith that those
which are being worked yield very rich silver ores. In addition
to these fifteen lodes, it is well knnwn, as stated in the reports
herewith, that the great veins " Aguachote" and " Carretera "
run through and form a juction in this company's rights, which
is a most important feature, as "the Carratera lode has been,
and is, one of the most productive in the district, and yields the
Real del Monte Company 280 tons of silver ore weekly."
The above advantages are so great that these Mines would
have been developed long ago but for the difficulties and cost of
drainage, without which they could not be wrought deeper. No
drainage, however, appears to be now requiPored, for Mir. t will be
seen from the concurrent testimony of Mr. tts, Hamp-
shire, and Captain Grose (see their reports) that the shafts which
could not formerly be sunk deeper, in consequence of the abun-
dance of water, have all become dry since the completion of the
great Aviadero adit of the Real del Monte Company, which was
accomplished towards the close of 1868.
Several of the setts have been already opened to a considerable
extent, and proved to be productive, by which both time and
outlay will be saved.
Nine samples of ore, extracted by Captain Grose from various
points of the Encarnacion Mine, were assayed and gave an
average of £49 125. 11d. per ton.
Five samles taken by Captain Grose from the bottom of the
shaft in the San Francisco Mine produced £25 4s. Id. per ton.
The following four samples were taken and brought home by
Captain Abraham, late manager of the Rosario Mine, and were
assayed by Mr. Griffith, Assayer to the Bank of England :2.
No. 1. From shaft on the Aguachote dontaining 228i0z. of
silver, and 2oz. 20grs. of gold per ton lo
of e, c
ore.
No. 2. From shaft on the San Francisco lode, 1,8780 z. of silver,
and 21oz. ldwt. 9grs. of gold per ton of ore.
No. 3. From E and W vein 440 z. of silver.
No. 4. From adit driving to cut the Aguachote lode, 81-oz. of
silver, and Bdwt. 4grs. of gold per ton of ore.
Six samples were taken from a new discovery in the Rosario
adit, which were assayed by Mr. Gould, and gave an average of
£56 4s. Bd. per ton.
Details of all the above assays can be seen at the offices of the
Company.
N.B.—Ore only yielding £6 9s. per ton pays all expenses, with
a small margin of profit.
The result of these numerous assays of ores taken from so
many parts of the mines, and giving an average value of £45 10s.
per ton of ore, cannot but be considered as highly satis.
factory, more especially as the average produce of the 525,978
tons of ore, reduced by the Real del Monte Company up to 1865,
was only £l3 4s. per ton, from which, notwithstanding the great
cost incurred by that company for drainage, a profit of £2,411,500
to that period was made. An official statement of the produce of
the Real del Monte Company's Mines, from 1855 to 1864 (forming
a total value for those ten years of £6,409,057) as given in 'a
report
to the Earl of Clarendon, by Mr. Middleton, then H. M. Secre-
tary of Legation in Mexico, dated July 10th, 1866, and pub-
lished by order of Parliament, will be found amongst the
reports.
Prospectuses, reports, and forms of application for shares, may
be obtained at the Offices of the Company, and of the Bankers,
Solicitors, and Brokers.