The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-01-12
BIG ALASKA DEAL
Four Claims I'm the sum Dunn Dis
frfrt Sell for sI5e.oea.

frtct sell for Sl1s-t~fs.
Again has the sun Dunn district come
20 tae front with a deal in mining prop
s-ty that. in point o. the amount %
money involved. completely sfwa~fs anv
ether sac yet made IN that section. ac-
caT6SnE 70 the Alaska News TIE group
transferred consists % four claims. tne
Troy. Gem. Portland No. and tn. An
rex No. !. and vas the property o. W
+ Mills who made the locations about
two years ago. Some months ago the
claims were incorporated n the Troy
Nining and Development Company. ard
Just before leaving san Francisco on his
last trip 20 Juneau Mr.. Mills gave a
working bond running 10 the Ist OF May
and signed away the entire block of
stock. the latter being placed in escrow
pending the taking up OF the bond. The
consideration Is $4,000. the purchasers
being A French syndicate. a representa-
tive o. which IS row in San Francisco.
The same syndicate has become heavily
interested in mining property in Caiifor-
MIA and Nevada but this is their first
purchase in Alaska. Il is backed by an
almost unlimited amount o. capital and
II Is more than probable that the present
buy Is bat a forerunner Of many others
faat will follow In efTecting the sale
the magnificent showing made by the
TreadweH company during the past year.
as shown By the annual report OF SUI
persutendert Duncan. where the cost or
mining and Milling the ore. including all
construction work, which could scarcely
have amounted 10 less than 500 COO during
the year. was accomplished At the phe-
uoninally low figure Of Sizes per ton. was
a very material aid In Inducing the gen
tleTnent 10 make the investment. the
Mills proposition being what may be
termed a low-grade property.
The claims in question lie on the north
ern shore OF HoIkham bay. directly oppo-
site the Bald Eagle, about ] 300 feet from
tidewater. The face or the mountain
where the huge ledge Is SO plainly dis
cernable is precipitous in the extreme.
standing at an angle OF no less than %
degrees. Upon one of the lower claims
a force OF men has been employed for
several months driving crosscut tunnel.
X now being In the ledge a distance OF
100 feet and having a depth on the ore
body OF 80 feet. Owing to the abrupt
ness OF the face OF the mountain, tun-
mel driven almost at any spot on the
lower edge OF the claim would acquire a
great depth In a comparatively short dis
lance. Thus, on the Annex a tunnel be-
gun at the southeast corner and run
aiaCouaiy across the claim would give a
depth of over 100 feet on the ledge.
On the surface the massive vein shows
I'D well and is distinctly defined for
particle OF which carries mineral and viii
pay to run through a mill. As IS the
case In all Lodges Of huge proportions. In
this instance pockets and seams OF ore
are encountered here and there which
raise the value OF the entire ledge 10
very respectable figure. The formation IS
tale and black slate. the latter rock car
ryfng gold 10 G small extent. some or II
giving returns OF 81 a ton. on the BAL
ance OF the claims much OF the develop
fnent work that has been done Is in
the nature OF open cuts. the same char
acter OF ore presenting itself In one that
Is seen in the others. Free gold Is oo-
casional.y seen in picked specimens.
though. generally speaking. the value OK
the ore does not become apparent until
A. Is crushed and PANIED. In a mil test
made by Price & Son. san Francisco.
ssi4 was saved on the plates In free gold.
which. averaging numerous assays. would
show about one-half the value OF the
rock. The concentrates run 3 per cent.
approximately. And carry principally sold
and silver with about per cent. cop
Ter and some little anthony. The process
bv which they could be treated 20 the
test advantage could scarcely be deter
mined except BY experimenting. II chlor-
mated the hlser metals would be lost.
and N smelted their cost % treatment
would be considerably Increased one
expert. who has given the ore most
thorough test. has suggested the Use or
the Boss continuous process. by whicn
the ore f. carried through a series %
mans. doing away entirely with concen-
traitors The resultant bullion = neces-
ssrfiv very low grade and would probably
not run over SO % 80 fne. This meth
% would BE- new % Alaska. though IN
many parts o. the West. notably IN the
Corst0ck. Il has been IN use for many
years.
In rather close proximity 20 the claims
aows a creek from which sufficient water
could be taken 20 operate thousand
sta-nuS II finds SIS source In large
glacier seven Or eight miles back In the
mountains. and comes rolling tuuhlins
down over n half-hundred miniature faIls
and precipires 20 the beach. being led
here and there by innumerable small
tributaries and forming n stream OF no
small pretensi0ns. In the last mile ira
ve-sea ny the waters ~ the creek before
flowing into the hay the fan IS between
80 and ina feet That would give head
ADEQUATE TO move the most ponderous
machinery Mr.. Mills estimates that not
over s. 90 would be required 10 develop
sufficient power to operate 500 stamps
continuously.
The Immediate Intentions OF the new
eornpanv VIII not be known until their
engineer and representative arrives on
the ground. early IN the spring During
the remainder OF the winter development
work wiz be vigorously prosecuted. and
should a mill be erected early in the sea-
son. which IS the most natural conse-
guence. the mine VIII be In shape 20 pro-
,9uce ore as soon as the stamps are ready
for t. An admirable uillsite exists on
the beach. and when the plant IS erect
ell the property fully developed and ev-
ervthing in working order. Il is estimated
that the are can b. mined. milled and
run into bullion for s. per Ton.
Alaska - particularly blessed IN haV-
Ing so many iow-grade propositions OF
enormous magnitude. properties that re-
1utra a heavy capitalization and big
outlay % money before any returns be-
gin coming in. but once established they
bs>.~,-aA as sure diy}iend-pa rs =
government bond. The acquisition 81
French carltal IN our territory marks a
,,svx era in the mining history % Alaska,
AMI Nr Mills deserves the hearty con-
ordinations 81 all IN the successful
rna~inulaticn OF his property, and thus
attracting 20 oefr shores ths attention az
men OF great wealth wa}ch cannot help
t,.,..Fs4f al 80 e.-arTgrN.