The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-06-07

The talk of the hour in mining cir
cles yesterday was the information
which was circulated exclusively in
che Herald, that mining deal was
IN the tapis, which, if consummated,
would bring to the Johannesburg of
America an unprecedented mining
boom, the like of which was never ex-
2erienced by any of the camps OF this
country, none of them excepted. Wis
ions of a Cripple Greek, a Phoebe,
1 Leadville, an Aspen. a Virginia City,
an FL Dorado and all CALIFORNIA; IA
nous camps combined in one floated
through the day dreams of those peo-
pie who own properties in the great
district or who are interested in any
of them In their visionings they could
see the name of Mercur heralded all
the world over Cumming ahead Of slow
time a yea or two and it did not re-
quire any great fertility of magma
ton either, for but to reaecr moment
on what the contamination or such
proposition means to a mining district,
and especially 10 one such as Mercur,
is sufficient TO justify a property owner
in that section in indulgiug in the most
fabulous anticipations.
That this is true will be seen by
brief statement, approximately, of what
is involved in the contemplated deal.
The Golden Gate property covers
surface area of 760 acres. Beneath
the whole Of that vast area spreads
an ore body like a blanket which runs
from twenty to $50 feet in thickness
and the minimum richness of which
is SIS in gold to the ton and much of
1t viii go a great deal higher In fact,
some of the experts who are now eX-
amining the property for the syndicate
(which contemplates purchasing it,
nave estimated that some Of the ore
will run as high as S34.
AS an evidence that the ore body is
not overestimated as to its extent
there is the fact that in the twelve
acres which have been developed. there
are two and a half miles of tunnels,
shafts and drifts all exposing ore.
assays from which prove its richness.
This, then, is a conservative state
ment of what the mine contains. and
superficial though it is. it is held not
to have been overestimated by all
who have had the opportunity Of ex-
aiming the mine.
A conservative OIL the eX-
pense of treating the ore is 50 and this
is considered as the maximum. If this
is the fact and the ore goes SIS to the
ton, or even very much less the
gigantic proportions of the possibilities
of the property can be readily under
stood and a man does not need to be
a miner to grasp it.
Additional informa tor concerning
the prospective big deal was obtained
dow ~
there is very little doubt that it will be
successfully negotiated and that at no
very distant date, the information
coming from source which cannot be
questioned as to its reliability al
though the name Of The Herald's in
formant cannot be used for personal
reasons satisfactory to The Herald.
and although the trustworthiness of
this source of Information is not cues
toned, another fact may be mentioned
as lending additional authenticity to
the statements made.
II is Known to q certainty that ex-
perts are at Mercur examining the
property for an English syndicate with
which the Rothschilds are associated
and II is also known that for some
DAYS cahlegrams have been passing
back and forth between the officers of
the syndicate and Nessrs H. Pratt
nober, c. Nelson and c. w. Merrill.
three of the experts. and it is further
known thai the contents of at least
some Of the messages have been of a
nature favorable to the deal. In tho
light of all the information thus far
obtained, there can be no doubt that
the deal is contemplated and it seems
there can be no more doubt that it will
be carried to a successful conclusion.
II the deal is effected. the company.
II Is understood, will Immediately be-
Sin the erection Of a plant of capa-
CITY anywhere from LOCO to 5000 tons
daily. This is one of the features of
the deal which adds to its Importance
TO the Mercur district.
II is understood that the East Golden
Gate. which adioins the Golden Csta
viii be included in the deal should If
terminate as now expected and that
several other properties will also be in
Guided. The former it is said will he
taken over on a basis of $3.50. 600. and
me others on the basis of about $3.50