Lewiston teller. [volume] (Lewiston, North Idaho) 1878-1900, 1898-04-22


be found among lodges of this class that
will become known throughout the mining
world, although there will be a lot OF
them that will make comfortable fortunes
for their owners, and combination OF
several of them may become really great
mine. 1t is in these lodges that the sue
cess of the camp lies, rs they will always
insure a divided ownership The other
class are large leads running from 10 feet
in width upwards to SO feet or even more.
While extremely rich ore has been taken
from them, in the main they run more
regular values than the small leads, and
from IL few assays taken at random one
can determine pretty closely what the
average value of the vein will be, barring
the change that will come with depth.
These will run from So to SIS per ton, a
value that would pay well if the gold
could be readily extracted, but the ore is
generally base after the first few feet be-
low the first surface, and it requires eX-
pensive appliances to work them to ad-
vantage. While it costs $28 per ton for
freight and smelter treatment, and with
ouS PiNhtS Va CiIO HAOSt dPpboNcu
machinery large part of the assay value
is lost in the tailings, little can be done
with them by men of limited means.
Eventually numbers of them lying con-
tig,ious to each other will come into the
possession Of men or companies of large
means and they will develop into rivals
Of the Homestake and Treadwell. While
most of the wealth of the district will
finally come from the leads of this class,
they will not be of so great value to the
camp as the small ones, for they will
throw the control into the hands of too
few men. While gold and silver form the
principal values of this class of leads,
there is some lead and copper in them, one
of them in particular, which is now in
mind, having pretty general assay returns
of 10 per cent lead. OF course there are
some exceptions to this general classical
ton, but the differences noted here will
apply to nine out Of ten Of the veins in the
gold belt.
The Iron Colt.
The property of the Iron Colt Gold Min
ing Company, Limited, which consists of
the Iron Colt mine, situated on Columbia
and koOtenay mountain, in the Rossland
district, has been, optioned to an English
syndicate. The terms of the option are
private, but it is said to be about 800 900.
The purchasers, it is said, are amply sup
piled with funds and stand ready to ex-
pend large amount for development
work The sum of $4,000 has been ex-
pended in development work, and the
property is fairly well opened. What is
now needed is capital to sink to lower
level There is strong lead uncovered
that is from 6 to 35 feet wide, so feet in
depth and 800 feet in length tone of the
largest ore ,chutes in the camp, and runs
about $3.50 a ton. There are $500 tons on
the dump. The company,was incorporated
in October, 1896, with a tcsEpital stock Of
share, and the money so derived was spent
treasury stock was sold at Is cents per
in the work of development. There is still
IL balance in the treasury. There are also
some 10000 shares Of the treasury stock
on hand. The ore of the Iron. CsAk con.
tains an excess of iron and is therefore In
demand for fluX. The smeltcrs pay a
bonus for each unit of iron contained in
such ore. The PROPERTY is highly valued
by the chief shareholders. and sorfe OF
them are loath to part with their hold.
ings, because they think the property has
merit. 1t is believed that richer ore
chutes will be encountered when a greater
depth has been reached
Pierre's Lake District.
+. 7. Trimble of Colfax was on the res.
ervation the other day for the purpose of
viewing the work done On property in
which he is interested on Sulphide mount
ain, in the Pierre's Lake district. Mr..
Triinble is president of the Sulphidc
Mountain Milling and Mining Company,
composed of business men of Portland and
ColfaS. The ore is.copper and galena, and
runs well in gold and silver. A small
crew has been at work this winter sinking
a shaft, which is down about 80 feet The
ledge is quartz, with diorite and slate on
the foot wall, serpentine gangue rock and
fsophyry on the hanging side. 1t runs
northeast and southwest, dipping a little
to the east. AT 30 fsena cros,cut was made
l. - ne IedXe hau. y ldfncd con>iuefaDIv from
the surafce and showcdAt.tine ore body Of
from four to five feet. Assays taken, from
the ledge at this depth gave value of
S5S.2S; of this. Sl1.34 was in gold, the re-
mainder being copper, lead and silver.
Work i, to be pushed To the l0o-foot level,
where another cros>cut will be made, and
it is thought that the company will be in
position to ship ore by that time The