The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-01-21
Ore Running Less Than Five Dollars
Per Ton Mined and Worked
at Profit
Figures Which Go to Prove What
Gan Be Accomplished by
Good Management
News From = District Close to Helena
A Big Company Incorporated TO
Mine Undcr BUTTE.

Manager ]. Henry Longmaid, OF the
Golden Leaf Mining company, has sent 70
tba home Office in London 4 statement,
showing what the mines located at Empire,
in this county, have done during tho year
Just past. 1t is a wonderful ana
a prominent mining man said yesterday ne
did not believe n other man could nave
done so we'll rs Manager Longmaiu. MIN
ing men will understand this, when they
ara told that the ors mined aud mllled
during the past year. only averaged IN the
precious metals S4.29 q ton. The Golden
T,eaf aomnany owns a number OF claims at
Emnire. those worked being the Empire,
Whipporwill and Smithville. During the
GEAR 81. 700 tons of ore were mined ana
p,illed, yisldine per ton as follows; COLO,
S2.77: silver, five cents; talllnRs IN Eold,
81, 40: extraction in concentrates. IL cents
,,old and six cents silver. The total pro-
caads from the mine was S16S, 3SA.79, made
~ "a follows: Gold bars sold. $l61, 1851;
concentrates SIG, 575.71; collections, ST.
oe6. w. profts on stera, 81, 1874; miscellane-
Gus profits, $685. 50; value Of ore On hand,
net; SS4,225O,
The company operates a 6O-stamp nlll,
ana during the first five months OF the year
crushed 10000 tons and during the other
seven 50, 700 tons, or an average of Over
$500 tons a month. The cost Of mining the
orc was $50, 4S7.SS.; milling, $42,6s2.24
Other expenses, S11, 378.05, q total OF Sl09,-
448.17. This shows a profit Of SIS, $685. Tor
the year on rock that only assayed S4.29 =
ton. How this was accomplished j. shown
by the low cost at which the ore is handled,
the total being S2.01 a ton. divided - fol
lows: Mining. Sl.O05; milling. 1856; general
management, q cents. This is . reduction
in the price Of mining. milling and Other
expenses Of "a q ton. it formerly costing
the company Sc a ton. During the year q
great deal Of development work has been
lone on the property. altogether amounting
to over 1000 feet. As \ result there is now
ore enough in sight to run for eighteen
months, and there are 1000 toni broken in
the mine ready for the mill. One hundred
mon are employed, and of all the force
there is but one shovoler and
one who breaks ore. The expenses
of handling have been reduced to q mini
mum. AS the ore ID mined it is dropped
into chutess run down to the tramway
which runs by gravity to the mill. The
lowest workings are IN 9 tunnel, 4U 1set oe-
low tho surface. In this tunnel a three-com-
partment shaft is now being SINK. It will
20 down 200 feet, levels east and west being
run at each 100 feet. The mine ia we'll tim
bered, and kept up in hrst-olass shape. Il
is a true fssure vein. and while the ore il
SO low grade, the owners know they have
it to q great depth.
It is probable that nowhere else in tht
United States is there u mine. where thu
rock averages 10 low. that is worked at 8
profit. Certainly there is none in Montana
When it ia remembered that it il not {
blanket mine, but a genuine assure veil
proposition, it will be seen that the RECORD
being made ia a most remarkable one. Al
indication of how the property has ad
vanced in the past two years in the estima
tion of English investors, is shown IN tn
advance in the price Of the stock. Wher
it was selling for six cents a share it wen
in six months to over 80 cents, and is nov
quoted between S1.10 and $l.25.