The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-06-10

The report that the Golden Gate
mine at Mercur was about to be sold
to an English syndicate, has caused
considerable connection in mining cir
cles in this city. and at Mercur and
every item of news concerning the same
is eagerly grabbed at
Although efforts have been made to
discredit the story and to create the
impression that the exhaustive exam
ination now being made was merely
being done Tor the fun Of the thing;
still it stands to reason that experts
will not come here all the way from
England and spend money and time
in thorough examination of a great
property unless business is meant, and
the outlay ot a great sum Of money.
The Golden Gate mine is being most
thoroughly and scientifically examined,
and il is estimated that this examina-
ton will cost the English syndicate
from $1,000 to $4,000. There might be
'Iots of fun in this for some people,
but English capital does not indulge
in this sort of pastime, and when the
work is completed. and the mine comes
up to presentations. the syndicate
will, without doubt take up the bond;
for whatever may be said to the con-
trary. this examination would have
never been made had not preliminary
details, such as price and option, been
settled upon before the experts. headed
by one of the most noted biologists in
Europe. started for this country.
This party of experts is now hard at
work inspecting the underground
workings of the Golden Gate mine It
is estimated that here are two miles
or more Of drifts. wines and upraises
in the property, and samples are being
taken from the workings at a. distance
OF every fifteen feet, and at the Golden
Gate assay office the assayers are work.
ing two shifts. and are working like
beavers to keep up with the experts.
De Lamar's experts. so it is said, are
also going over the same ground. and
when the work is completed compari-
sons will show if there is any differ
ence in the results obtained by them.
OF course various reports are heard
concerning what is going on regarding
the deal: and one of these. which comes
almost direct from headquarters is to
the effect that the same syndicate that
is now negotiating for the Golden Gate
will also absorb the De Lamar mine
at De Lamar. Nevada. and that they
will help to sell each other
Other rumors are afloat that the syn
dictate. besides purchasing adjoining
ground, will also take in the Gold Belt
water works. and it is limited that pos
sibly the Salt Lake & Mercur railroad
will be included in the deal
1t is known that the Representative
of the syndicate. while making the ex-
animation of the mine, have requested
the cessation of work in certain direc-
tons, the inference being that if the
deal was contaminated this work
would not conform to the ideas OF the
new management. If the examination
was made merely fer amusement. as is
claimed by some to be the case. the re-
quest to desist work would have hard
iy been made or complied with; which
is another clincher to the statement
that this work is being done for a pur-
pose, and this purpose is the purcha sc
of the greatest gold mine ever yet dis
covered in this or any other country
Mr.. Hamilton Smith. the representa-
tive of the syndicate. who was billed to
arrive here from Butte on Monday was
delayed, but he is expected here to-
morrow. Mr.. Smith has just closed a
deal on the great Anaconda mine at
Butte, and he will come here invigora-
ted with his success. and If the Col
den Gate comes up to represen tations
which it cannot fail to do, there is every
reason to believe that the deal will be
speedily contaminated. as he is a gem
tleman Of excellent executive ability
and quick to act.
If this purchase is made Mercur will
experience 4. mighty boom. In fact. the
camp will be SIT on fire, figuratively
speaking. and every interest through
out the camp will feel the exhilerating
and quickening effects OF the bringing
in Of new blood and heavy capital into
the district.