Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1889-02-27
A RICH STRIKE
MADE IN THE TOLEDO MINE, IN
MADISON COUNTY.

MADE IN THE TOLEDO MINE, n
). MADISON COUNTY.
A Company Formed to Work it witt
l.. Ample Capital-Richness of the Com
tact Vein-The Champion Con.-Th.
Mountain Llon-Other Mining News.
The articles of incorporation of the To
ledo Mining Company were yesterday flee
with the Recorder. The company takes its
name from tine mine OF that lame in Madi
son county, sixty-ive miles southeast Of
Butte. 1t is organized with a capital stock
OF 100000 in 100000 shares Of Sic
each, the stock being worcestershire. The
objects OF the company are to buy, sell,
lease and work mines and mining claims, to
buy, sell and work ores, to construct and
operate a concentration, smelter and other
works for the reduction of ores and to
carry IN a general mining, smelling and
milling business, and to acquire by pur-
chase or otherwise such real estate, water
rights and other property as may be neces-
1 6dIJ w CoIIy OA UAC OpUIdUIOub " Uuc
company.
Five trustees have been elected for the
first three months, namely, Henry Nickel,
D. D. Budd, Joseph Sehringer, j. Ross
| Clark and Alex. J. tombstone, of whom j.
R. Clark has been elected president, and A.
J.. tombstone secretary and treasurer.
The mine was discovered fifteen years ago
and was worked by a Salt Lake company
who ran q tunnel in some two hundred feet
and GRO sscut without striking the true vein.
They sold out to D. D. Budd and Henry
Nickel about two years ago for So, 600. and
they have since been prosecuting work with
about ten men. They began by prosecut-
ing work in a different direction about one
hundred and fifty feet from the mouth OF
the tunnel, and are now into the mountain
about three hundred and thirty feet where
a body OF nine feet of galeHa ore in a por-
phyry and lime formation has been en-
countered. An assay from this contact
vein shows ITO ounces in silver and $25 in
gold. After hauling the ore sixty miles in II
wagon it Melted 500 a ton.
The strike of the contact vein was made
while the men were setting a prop ON the
18th. A large body OF ore was edcouu-
tered in the hanging wall, measuring hIne
feet in width. as stated, and al the men
advance into the mountain on the vein
the ore body is still widening out. The
mel had thrown over fifty tons of what
they considered waste matter over the
dump which assayed 2A per cent. lead, 20
ounces In silver, and $24 in gold. The
company has decided to sell $4,000 shares
of stock, with the funds derived from
which they will erect d 5O,ton s~ue!,e..
Major Budd regards this as the most prom
Using mine he ever undertook the develop
ment OF.
II CHAMPION
1t was learned yesterday ON the author.
ity OF E.. P. Mills of the Champion Consol-
idated that satisfactory progress is being
made on this fine property. 1t is situated
in Deer Lodge county, and lies 81 teen
miles east of the town of Deer Lodge,
within hall a mile Of the county bouu-
da. y. The shaft is now down $50 feet,
and they are sinking another 100 feet,
when they intend prosecuting to the vein
which will happen at the present rate of
progress, about the 1st of April. This
could be done sooner, but the ex-
cavation of a tan station ut
the $50 will delay it. During |
the present month 100 tons CT ore from
the west level at the $50 were shipped to
btNA Il Oils l1IouU SUI lDS L
and assays received from this nave slo wn
70 ounces silver and So to $3.50 gold.
There are twenty-three men working in the |
mine, with three shifts in he shaft and two |
shifts in the levels. On the W st level re- |
ferred to there are eight feet of ore.
THE MOUNTAIN LION,
about a mile west of the above, commenced
to sink the shaft about a week ago, and is |
10 down twenty feet. The hufst is all on !
the ground and being erected as rapidly as
possible. 1t ia expected to be ia running |
order by March LIST. About ten men are
working there, with only one shift in the /
shaft.
THE |
The shaftin this mine, situated west Of the
Anaconda, is now down to a depth OF $50
feet. When the depth OF 400 feet is reached
the work OF prosecuting will he begun to
the continuation OF the same lead
they had last summer when the owners an
ticipate striking Il richer grade of ore than
had then. Hosting works will be
by the LIST of May. At present four
men are working there with a within.
NEW BoN CAMP.
From IL gentleman just in from the new
camp situated at the head of
and French gulches, we learn that
there is considerable development going on
the most satisfactory results to the
fortunate owners, and he is of the impress
sion that before the end OF 1889 it will be
one, il not the greatest carbonate camp, |
ever struck. He Anticipates a great influx
of visitors as soon as the snow will permit
OF prospectors. At present there ara four
mines that are bonaDzas, viz: The Ed
Carbonate company, the Anaconda
company, the Fisher company, the McIu-
company. There are also some very
promising locations on Carbonate hill
will make their owners rich by the |
use o a grub stake, aided by suffi-
muscle to sink a 10.foot shaft
There is a large scope OF country south and
west of Carbonate Hill that will well repay
.rospectors to investigate, and he saysem-
that he knows of no camp in
Territory where capital can be placed
to better ~ advantage. Being SO highly inn
pressed with this idea, he intends returning
early as practicable Ia test the correct
ness of his opinions. He speaks most fat
of the gold lead owned by Doctor
Beale and his son Perry which he pro-
ounce the ne plus ultra Of gold miDes,
will well repay visitors to investigate.
NOTES.
The Washoe, just east of the Grey Eagle,
down a distance of 1O5 feet, and pro-
iucing some excellent ore, in which native
is very prominent.
The old Grey Eagle. from which the hoist
vas removed last summer, is sinking just
west OF the old workings. Only develop
nent work is going on, but the waste COM
IL z..ez-n .E~uuo A.
good quality of ore.