The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1880-06-30
THE COLORADO CO-OPERATIVE, PROS
PECTING AND MINING COMPANY.

PECTING AND MINING COMPANY.
Report of the General Manager on the
Progress of the Work and the Location
of the Company Property.
GALENA, COL, June BIN response to the
many inquiries from the stockholders in
this Company at indianapolis and other
vicinities adjacent thereto, have prepared
this report.
The property of this Company in this
vicinity is the Newsboy No , Frisco No. ?,
Lookout No 2, Boston, Chicago, Chlorides
and Sun Mines, and their exact locations may
be seen by reference to the above map. 1t is
one mile and half to the group in FIRE.
mont County from the Office at Galens, while
those in Custer County eighty rods
south. The entire area covered by these
properties is something over sixty-eight
acres OF ground. The group in
Custer County covers twelve hun
dred feet wide along the east
slope of Mineral Mountain, and upon this
territory the float or flow from the mineral
veins is from two to three feet thick, and
the surface ground is covered with a dense
growth OF pineons. The mountain ridge or
blow out Is about $50 feet high, and the
stratas running northeast-southwest, are
nice schistos, granit0idal and QuariZites
lodges. The mineral veins cross them nearly
at right angles and occur about every 200
feet. varying in formation from smelling to
free milling as they have basic and acid
ores. The Boston lode, on the surface of
the vein, shows a hard, dark rock, which
shows under the glass dark crystalline or
y, II tffNpo
of which have ssssyed 800 ounces OF silver
The incline tunnel on this lead Is at the
east end of the property, and will be driven
to water level at dip OF AS, and thence on
level to the center OF the mountain $50
feet. Work is now in progress in the
tunnel, which shows the lead 70 be thirty
six inches wide, and the average
value OF tie ore is determined By
essays 70 be $50 per ton and improving very
rapidly as depth is gained, and think by
the time water is reached, seventy five feet
further, that the ore will be high grade.
Near the top of the mountain this lode
crosses loaded spar lode at scute angles,
which have not thoroughly explored, but
assays show its yalue to be thirteen ounces
of silver and forty per cent. lead. At the
junction OF these lodes | anticipate an i'm
mense ore body. Above the discovery of
the latter lode is the southeast side line of
the Chicago lode, another spar lode crossing
the mountain OF right angles with the spar
lode on the Boston. This leaves a TRAN
galar spot on the summit that is bounded by
the three lodes. The character of the sur
face rock indicates blowout of mineral,
and 1t is from here that the rich float es-
saying 800 ounces is obtained, and this is the
objective spot sought to be reached
by the tunnel on the Boston.
Work ION the Sun and Chloride
lodes Is also in progress on the
a 1..~ k<,f
Boston and Chicago. The tunnel on the
Sun lode will strike the lead on the Chicago
at about 100 feet and the vein is nine feet
wide.
The group in Fremont County is sppar-
entity on the same mineral belt, one and a
half miles further west by north. The News
boy No. 2 is near the County line, and lays
on the west slope of another volcanic ridge
or blowout The lode is four feet from wall
TO wall, and nearly a solid mass of crystal
ICED lead, carrying silver to the value of
fifteen ounces per ton. Contractors are now
at work sinking the shaft 100 feet. and the
prospects are that beneath the surface mat.
ter the sulphides OF lead and other sulphides
will be separated, and this will give the pure
galena; as it is, the combined sulphides are
in q crystalizsd mass. The Frisco No. is a
similar lode, but occasionally nuggets
OF argsntiferous gslena are encountered.
A contract OF 100 feet is let on this lode, and
Is to be completed in August. Lookout No.
2 is burnt spar lode and has a thirty-fve
foot shaft, and the ore mIlls s55 in gold per
ton. Bids are now being received for sink
ing the shaft 80 feet
81 have purchased for the Company a ten
stamp mill and twenty-four ton water jacket
furnace, which will be erected at Galena as
soon as the true characters OF the main ore
bodies will have been determined. have
also purchased four sets of mining machin-
cry, steam drills, hoists, ETC., and will soon
erect shaft houses and make the plants as
soon as the machinery is completed and re-
ceived. and in July and August shall go to
Lesdville and Silverton and let contracts on
the Com any's property there
am in receipt OF the following order:
To g. o. Pesrce. General Manager Colorado
Co Operative, Prospecting and Mining Com
pany-
Upon the completion OF the sales of the first
installment of the working capital in your
= hands, you are instructed not TO offer the re-
serve for less than $50 per share or $40, par
value. $4,000 80 1870, I ~
BY order Of the Board Of Directors.
The reserve being the last IL. 900 shares of
the 80, 600 shares set aside as the working