The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-10-15

The affairs of the Mammoth COM
pany and the reported condition Of this
great Tintic wealth producer have kept
the mining public of Salt Lake busy
during the past week, and many thou
sand shares of the stock of the COM
uany have changed hands during this
period on the thousand and one ru-
Inor5 in circulation on the street re-
garding discoveries alleged to nave
been made in the mine during the past
eight or ten days; and still nothing
has been definitely known as to the
truth and correctness OF these reports
some dealers buying because OIL their
belief in these statements, While others
sold as readily for the reason that
they did not believe in them
AS a matter of fact, some OF the
statements made have been ridiculous
as we'll as preposterous, one report IN
circulation only yesterday being to the
effect that the greatest discovery ever
made in this prolific diVidend-payer
had just been uncovered, almost every
broker and investor having a story OIL
his own of the finding of wealth ga
lore. and each differing in salient fea-
lures from the other. while each re-
cipient of such information, given in
confidence, was willing to swear as to
the truth and Veracity of his inform
ant: the inference to be drawn from
this condition of affairs being that if
all these reports are true, the Mann
moth must of a necessity be
THE GREATEST MINE
ever found in this or any other coun-
try.
For the benefit of Herald readers,
however. it can be said that the fol-
loving statement as to the condition OF
the Mammoth can be relied upon, and
&c made the author
ity of the company, it comes so straight
from the inside that no member of the
association will be able to truthfully
deny it:
The furore caused in mining circles
over the reputed discoveries in the
Mammoth is centered in the reported
finds on the 600 level. This find, it is
stated, was made in the face of cross
cut drift run west 60 feet from back
xdrift on this level at a point 500 feet
north from the main shaft, the cross
cut drift encountering a body of min
eral which was cut through on a dl-
agonal course for distance of 16 or Is
feet, the footwaI being Of the same
character of lime as that through
which the drift was run prior to the
-aacoVering of the vein, for which rea-
son it&is not believed that the real foot
wall has as yet been found, the i'm
preston being that if the cross-cut is
lime is only a horse or layer Separat-
ing two bodies of mineral, which are
practically identical and the same, and
developments since the finding of this
ore prove conclusiVely that the new ore
body is a parallel ledge to the back
drift and also to the vein on which the
600 level was driven.
After cutting the ore for the distance
above mentioned, drifts were started
north and south in the middle of the
zone These drifts have each been
driven in a distance of 20 feet, the faces
of each being full in bodies of good
shipping ore, orehouse samples, repre-
senting the mineral taken out and
awaiting shipment, showing assay val
ueS Of from SO to so ounces silver and
from $40 to SIS in gold to the ton; and
it is believed that at least two-thirdS
of the Is or 1S-foot body of ore ex-
posed in the cross-cut is shipping min
eral. The orehouse samples are en-
couraging, to say the least, a pleasing
feature of the discovery being that in
the ore occasional pockets of
HIGH GRADE STUFF
are encountered, samples having been
taken from the vein aSSaying from 300
to even 700 and 800 ounces in silver to
the ton, and an ounce and a quarter
in gold, thus showing that there is
horn silver to be found in the new
workings. Notwithstanding the fact
that this is denied by some of the Of
fcers of the company.
An important feature of the discov-
cry above alluded to is the fact that it
is in virgin ground and that there are
no workings either above or below it; !
and while it is mere supposition it |
may be that this is a feeder or extern |
sion of the famous Cunningham Slope, |
a considerable distance away, which |
produced 500 600 ounces of silver and |
5000 ounces in gold before it was work |
ed out. 1t could not be an extension |
of the Betsy stope, however, which in |
1890 produced $4,000 within a few |
months, as the Betsy stope ore was a
lead carbonate carrying values of so |
TO 35 per cent lead, 100 to $50 ounces
silver and $40 in geld to the ton. while
on the contrary, the mineral in the new
discovery is a free milling ore and
highly silicious and resembles the Cum
ningham stope ore more in its general
characteristics.
AS yet the outcome Of the new find
is merely problematical; it may open
out into something big or it may re-
solve itself into something of lesser i'm
portance.
On the LEO foot level the ore is all
milling mineral as yet. The shaft is
being sunk to the 1880 level and is now
90 feet below the LOO.
The mine is reported to be looking
well in all Of its workings.