The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-12-07
BIG MINING DEAL.
One of the Largest Ever Made in
Butte City.

A sale of mining property involving
a larger sum of money than any sale
by Butte parties since Dave Bricker
negotiated the Moonlight TO the Wa
shoe company some months ago, says
the Butte Miner, is reported TO be
virtually closed. n. L. Frank some
time ago gave a bond on the Southern
Cross group in the Georgetown district
to eastern parties, the price fixed being
1926, 600. II was yesterday stated on
good, authority that the deal was vir-
tually closed and the group Of mines
transferred to an eastern syndicate for
the amount given. Mr.. Frank was out
of the city yesterday and could not be
seen to verify the report. The SOnth-
ern Cross properties are situated near
the boundary line of Granite and Deer
Lodge counties in the vicinity of the
famous Cable mine from which about
SO, 900 has been taken in gold. The
Southern Cross property has ledge of
gold and silver ore As feet wide eX-
posed to view and good deal of eX-
penSiVe development work done in the
past. Like most of the mines in this
district the ore is free milling on top
but becomes base as greater depth
is reached. 1t has been quite a prob
lem in this district to find process
by which the gold can be saved and
the lack of such method has delayed
the sale of several properties. 1t was
recently reported that a method had
been found and that in consequence the
bond given on the Southern Cross prop
critics was at once taken Up. The
Southern Cross group lies between the
old Gable mine and the Flint Creek
mines, both properties being owned by
Butte people. in fact almost the en-
tire Georgetown district is either owned
or bonded by Butte capital. Some good
claims are owned by Ohio capitalists
who are putting in a good deal of
money in development work. The char
acter of the rock is hard and sinking
q, tunnel is an expensive operation.
The remOteness of the district and the
poor facilities for handling ore has kept
the district in the background in the
past but it is now rapidly coming to
the front and some very promising
properties are being opened up.
4 strike of very rich looking free
gold ore has just been made in the
Golden Gate mine owned by w S.
Shaw John T. Baldwin, George Brown
and the KnaptOn estate. The ore is
white quartz and the free gold can be
seen sticking out Il is not known how
much of this ore there is in the lead
as no particular development work has
been done but the prospects seem good.
It is said that a bond has been given
on the property and man will start
for Ohio to negotiate a sale in a few
weeks me TACT thdI the claim lies
adjacent tc the old Gable mine has al
ways invested it with some Importance
and il is said that $4,000 was once
offered for 100000 shares OF stock.
There are 400, 900 shares of Golden Gate
stock issued. At that tine. however, it
was supposed that the ore was free
milling all the way down. and that it
could be worked with a mill. 1t is now
found necessary to treat the ore found
at any depth with a much more eX-
pensive process. and that is said to be
the main re9 son that nothing has been
done with the properties in the district
for some time.