The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-11-08
LEADVlLLES FUTURE.
Producing Area More Than Doubled by
Recent Strikes.

Producing Area More Than Doubled by
Recent Strikes.
From the Denver Republican,
The results of the remarkable discov-
cries of ore bodies by the Home Mining
company of Leadvlle in the Penrose, in
the Bon Air and in the Starr placer.
promise to have much more extended
influence than was at first anticipated,
and to restore the period Of investment
and speculation that characterized the
early days of the camp.
The wonder occasioned by the find In
the Penrose had not ceased when the ore
body in the Bon Aair began to attract
attention, all indications pointing to the
fact that it would be fully as large as
that In the Penrose. Skilled mining men
who have examined the Bon Air work
ings do not hesitate to pronounce it the
equal in every respect of anything yet
found in the company's property. And
now the ore found in the Starr shaft is
widening out and producing values which
promise to excel those of both the other
discoveries. The find in the Starr almost
passes the limits of creduity. and oc-
curing in any other camp than Lead
vile would not be believed until after
thorough examination and critical tests
of the ore. A drift run from the 500-foot
level encountered a three-foot body of ore
which carries 1900 ounces in silver and
from 40 to SO per cent. lead. 1t is the old
fashioned lead sand familiar to the early
operators in Leadville and in many places
are incrustations of chloridee fabulously
rich. Surrounding the body Of rich sand
there Is an immense body OF iron car
rying as high as 200 ounces silver to the
ton, In which several slopes from 20 to 30
feet square have been cut. In the mean
time the drift has been pushed ahead
steadily without showing any diminution
Of the size or values in the ore. The ore
in the drift is so valuable that it all be-
| ing sacked.
| In the Bon Air one ore chute has been
| opened five feet wide which carries more
| than 1000 ounces in silver and 40 per cent.
| lead, and another that runs 800 ounces in
| silver and 40 per cent lead.
| The natural result of these extraordi-
| nary finds has been the stiffening Of the
stock and $40 per share is still demand
ed by the fortunate holders, with no spe-
cial anxiety to let go even at that fig
| ure.
But the most important effect of the
several strikes is the Inauguration of new
| enterprises to explore the territory lying
west Of the Pendery fault. Six years ago
| c. j. Moore. one of the leading mining.
engineers of the state, published mon
| ograph of the Leadville district, in which
he took the ground that the center of the
Leadville basin was directly beneath Cap
itol hill, In the vicinity Of Tenth street
| and Harrison avenue. Mr.. Moore has
since frequently expressed the opinion
| that the region west of Harrison would
| eventually become one of the best sec
tons, and events now in progress prom
| Use to demonstrate the value of the theo-
| ry. Several companies are now being
| formed for the purpose of sinking deep
| shafts in this territory and arrangements
| have already been made to sink a shaft
| on Brooklyn Heights and another on the
| Neustz placer embracing 3s acres In the
northern part Of the TOWNSHIP.
| There is but one opinion among mining
| engineers familiar with the geology of
| the district, and that is that the territory
| at least as far south as Weston pass and
as far west as the Arkansas river will
become in a comparatively short time as
active an area of production as that al
ready developed, and that when this
| comes to pass there will be no territory in
| the country of equal area that will sur
| pass it in production. The addition of
this tract will more than double the pro-
| duction field of the district. IT is estimated
| that the average value of every ton of
ore now being taken out of the Leadvile
| mines Is SIS per ton. AS the shipments
now amount to $500 tons per day. this
| means $4,000 worth of ore per day, 81, 200 =
| 900 per month. What it will be if the ter
ritory above referred to develops, as there
| is every reason to believe 1t will. can
only De matter OF conjecture, though
| Leadville operator with the enthusiasm
of men who have chung to the camp
| through good and evil report, are freely
| predicting an annual output Of from
$4,000 600 to $50, OOO,O 900. The wonderful
record of the past three weeks justifies
almost extravaganza in the anticipation
| of the results of future development
While there is very little movement in
| the stock of the Home Mining company
and one block of 800 shares is reported
to have been sold yesterday at $3.50 per
| share, very little inquiry would satisfy
anyone that holders are not at all anx-
ious about the future of the stock The
company's leases have nearly five years
to run. and a. conservative estimate of the
ore bodies from what Is already known of
them is that their value is not less than
| s5OOO,O0o and that the expense of mining
treatment and royalties will not exceed
| 70 per cent. of the values. This will leave
a profit of S1,50O.O00 or $50 per share and
the stockholders are all optimists regard
ing the future of the mine, believing that
the known ore bodies will be largely in
creased before the limits of the area of
Wi ftrpt sNx, II.