The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-07-30

The New Guinea Mining and Milling
company will file its articles of in
corporation today or tomorrow. The
capitalization of this company has
been placed at 10000 shares of a par
value of 81 each, and its board of di-
rectors and officers have been named
as follows:
George Naylor, president; A. G. Pad
dock, president; j. +. Hay, sec
rotary; G.. H. Naylor treasurer; and
z. S. Derrick, Joseph Bevins, F, E
Parish, W. S. Naylor and B. L. Morse,
all of whom own an equal portion, or
1866 2-3 shares of the capital stock
of the company, and each of whom
has contributed of his holdings until
Is, 600 shares have been set apart as
treasury or working capital stock,
5000 shares of which have already
been subscribed for at % cents a share.
The property of the company consists
of the New Guinea and several other
claims at the head of Government
creek, in Erickson district. Tooele
county.
/, The New Guinea lode, on which most
I, of the development work has been
done, shows from six inches to two
feet of ore in the bottom of forty
foot shaft that ranges in value from
100 to 900 ounces IN silver and from
81 to So in gold to the ton. The ore
is a bromide and easily handled, the
forma ton being a, contact in porphyry
and granite. a few days ago five tons
of this ore were shipped to this city
and a sampling list of the lot gave
values OF 100 ounces silver and some
gold to the ton.
AS soon as the company is fairly
launched it is the intention to at once
put in a steam hoist to facilitate the
DEVELOPMENT If the property, and the
shaft viii be sunk to the 200-foot level
before regular ore extraction begins,
and at that depth it is believed that
sufficient ore will be uncovered to
justify regular and continuous ship
ments.
The company owns several fine
springs of water, which will supply
ali demands for culinary and milling
purposes, and there is plenty of wood
in the near vicinity for all necessary
purposes.
Mining experts who have examined
this property are of the opinion that
with proper handling it viii develop
q
IN the same locality in which the New
Guinea group is SITUATED, and adjoining
it. there is another promising property
known as the Silver King group, con-
sisting of thirteen claims, four of which
are patented. This is owned very large
ly by the same parties who are inter
ested in the New Guinea, and it is the
intention also II Incorporate on this
property at an early day.
The Silver King has been more ex,
tensively developed than has the New
Guinea, as from $1,000 to $4,000 have
been expended in the work SO far per-
formed unon it. The main workings
however. consist of a hundred foot shaft
following the footwall of the vein,
which is an the way from 80 to 40 feei
in width. This ledge is all strongly
naineralized with occasional chutes oi
very rich ore, varying in value from
100 to 200 ounces in silver. The main
ore body, however, will average about
90 or SO ounces. The formation is a
Y contact between granite and lime and
from all indications, the deposit is a
permanent one. One of these claims
the Porter Rockwell, wiz ever be ia
NOUS on account of it's name. as well
as its value. as its title will always be
associated with the name of its former
owner.
In the immediate vicinity of the New
Guinea and Silver King lodges there is
a large deposit of ore that carries 81
per cent zinc, some gold, cobalt ant
bisnuth This deposit of itself is con
sidered as very valuable, and in time
IT will form an industry, in its extrac
ton. independent of the work being
done on the other mines of that dis
frioS
At Death canyon, in Erickson district
there are also several properties Of
promise. and it is believed that the in.
corporation OF the New Guinea ana
Silver King companies will result in re
newed activity in mining circles ir
s,haf region