The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-08-15
NEW MINING COMPANY.
COMET FILES ARTICLES WITH THE
COUNTY CLERK YESTERDAY.
Good Prospects For the Corporation
description of the Properties
Work Already Done and More
COntempIated-Nam of the Menu
bers and the Amounts Held.

Articles incorporating the Comet
Gold Mining company were filed yes
terday with the county clerk by H
P. Mason, George C. Kidder, ]. H.
Lateyy J. L. Kidder and Z. L. Mason,
with capital stock of $1,000, 900, di-
vided into 100000 shares of the par
value of $40 each. This stock is held
as follows: H. P. Mason, 1000 shares;
). L. Kidder, $500 shares; E. L. Ma
son, 5000, and George c. Kidder and
). H. Latey, 500 each. The remaining
10000 are held as treasury stock.
The property of the company con-
sists Of a lease and bond on the
Comet mining claim, which is located
IN the Soldier mountains, Blaine
county formerly Alturas), Idaho. The
mine is about thirty-two miles nearly
due west from Haley, Idaho, and is
directly in the somewhat famous
'Camas gold belt" The lease and
bond are for two years from July 1.
1885. The lease provides for the work.
ing of the mine in the usual manner
Of such leases, and calls for the pay
ment to the owners, as royalty. of
10 per cent of the gross output. The
bond, which is to be recorded in the
records of Blaine county, calls for the
transfer of the property, in full. on or
before July 1, 1897, upon payment of
$25, 600. 1t also further provides that
all sums paid as royalty shall apply
and be deducted from the above
named purchase price. The deed. duly
executed, is in escrow, irrevocable, at
Mccormick & Co.'s bank.
The Comet mine is claim located
in 1886. 1t is 600 feet wide by about
400 feet long. The formation is gran
tie, and it shows a ledge of gold bear
ing quartz throughout it's length, be
tween granite walls. So far as this
ledge has been explored (about $50
feet by means of a tunnel and one
shaft it shows an average width be-
tween walls of fifteen feet. Fully one
half of this ledge is a good quality of
pay ore. The principal ore body lies
next to the hanging wall, and is from
five to eight feet in thickness. Upon
the foot wall the ore is also contin-
uous as far as explored. and is from
eighteen inches to thirty-six inches in
thickness. The ore upon the two walls
is of the same general character and
of about the same value.
The mine Is now in a condition to
supply a mill Of twenty ton CAPACITY.
and this OUTPUT can be doubled in
from sixty to ninety days.
All the conditions at this mine are
favorable for cheap mining and mill
ing Wood and timber are abundant
within from one to two miles. There
is water sufficient for milling one-half
mile below the mine. Water for mill
ing can also be delivered at the mouth
Of the mine by laying one and one
half miles of nine. It is also possible
that considerable power might be de-
rived from this water, as the source is
several hundred feet above the snine.
Supplies of hay grain, meats, vege-
tables. etc. are abundant and cheap
at the ranches, five or six miles away.
One of the incorporators of this COM
pany has an outfit of steam power not
very far from the mine, ample for
driving a thirty-ton mill. which he
will turn over to the company for
their use whenever they are ready
for it.
It is the intention of the company to
put on the mine at once ten-ton
Crawford mill The cost of this mill,
when ready to run, not counting cost
of power. provided for as above. will
be about $500, and the time required
thirty days After a trial run of one
month. if the performance of the mill
and the development of the mine
proves satisfactory, as it is confidently
believed both will do, the mill will
then be enlarged to thirty-ton ca
nacitv by or before the closing in of
winter.