The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-12-28
and 1T is the intention to systematic
ally continue work.
THE GOLD DUST.
Expected Soon to be Dividend
Payer.

The Mercur Gold Dust Mining company,
one OF the most recently Incorporated
companies for the development OF the
riches of Camp Floyd district, comprises
thirteen claims formerly owned by tne
Viking Gold Mining company. me Go!o
Dust lies between the Geyser and Mari
on groups on the one side and the hoyeI
on the other, and gives every evidence
of being located on the ore zone OIL tue
district, being situated directly north 81
the first two properties, and TO the
north of the Golden Gate properties
owned by Captain j. R. De Lamar.
General William H. Penrose, Colonel
of the Sixteenth infantry, stationed at
ing operations on he ;grot:p for il% lest
year and half with the purpose OF de-
veloplng the ore Doules, lnt .He $50 -
he has met with citab,..d him 10 hfss
take up and pay OFT the options, ana at
er to incorporate a company ".th cap
italization of $1,500,0OO. divided INTO
100000 shares, OF the par Vaiie VI %
each. Now the company has in Its on
cial roster Of officers and directors some
of the best known business and proteS-
sional men in Salt Lake, Including W. ..
Mccormick, banker. as preslaent; Ven.
eral William II. Penrose, vice oenL,
Josiah Barnett, secretary ana 'rea2ufGI'
and these with John a. Street, ): Il.
Bamberger and w. V. Rice, conSLitut6e
the board Of directors. Dickson, Ellis q
Ellis. of Salt Lake, are the company
attorneys.
The prospecting up to date ON the
Gold Dust group is probably more e1--
tenSiVe than that done on any other plo-
perty in the district prior TO lncorpora-
ton. Technically speaking, the @orK
has been scattered over the surface sen
orally more with the object OF deterInll-
all points of the group than with ,, me
view Of systematic Development lHiS
work has demonstrated the existence OF
the lode at all points where 1t mas peeh
f;o;a latath
places it has developed the pleasing IaGt
that the erosion on the mountain slde
has but a very thin covering OF the
everything formation over the ore tnu :,s
making it possible to open up the VEN
at IL Comparatively light cost. ne Lai-
ues in the vein are practically inc
same as in the Mercur mine, tiiaI Is
about Sl1 per ton, although some
much higher. assays have been obtained
1t is the present intention OF the COM
pany to open up the mine Tor develop
ment, block out the ore bodies, Wmcn
the preliminary work has proven TO eX-
ist over the entire area of The group,
and later to erect a mill for the WORKING
of the ores by means of the cyanlde pro
cess, as it has been modified tor adapta-
ton to the peculiar character Of The ores
of the district. For this purpose 5o,OUo
shares of the capital stock have been set
aside as treasury stock 10 ProNluS d
working capital, and a limited numper
Of shares will be offered for sale at the
price of 80 cents per share, through salt
Lake brokers'
The Gold Dust has every prospect OF
becoming a producer second to none in
the district. It has an area of 339 AID a
fraction acres, located as stated ah9ve
to the north of three first properties that
have made the district FAMOUS -.ne Mei :
cur. Marion and Geyser. Under me di-
re &c IN OF General Fenrose it was thor
oughly prospected before even an at
tempt was made to incorporate or 10
enlist other capital, and this c'rcum-
stance places it in a very attractive po-
sition. It is the hope and belief of Cen
oral Penrose that before the c,ose OF tne
year 1896 the Gold Dust VII pc TENNIS
out III, riches III the torm q! cyan!des
by means of a mill.