The Republican. [volume] (Oakland, Md.) 1877-current, 1901-01-31
ESTIMATING MINE VALUES.
Method of Ascertaining Wo~th of Dea
pOsits Employed by Ex-
perts.

/ With the news that John Hays
Hammond's proposal to take charge
of the Independence gold mine had
been accepted by the London owners
came the report that the mine had
been worked out" This statement
had been made many times before, and
much doubt existed in the minds of
interested parties when MIR. Ham
monds latest report was received,
says the New York Tribune. This
| document showed that the property
which for a long time yielded a 40 per
cent. dividend on a large investment,
was still rich in ore. and capable of
producing large profits. Mr.. Ham
mond said that the "ore in sight" war
ranted him in guaranteeing a divi-
| dend of ten per cent, or $4SS, 900, and
| that would leave about 100000 out of
the years deposits to be used toward
the further development of the prop
erty and locating new ore beds.
The phrase 'ore in sight" is one
| that is well understood by people who
are interested in the mining business,
but is misunderstood by the average
! layman. The ore is not lin sight" on
the surface, but its existence is es-
tabliShed by a series of operations
which are in many instances exceed
| ingly difficult, expensive and labori-
Gus.
| Speaking on this subject. DR.. 4. r.
LedouX said: There is no way to de-
termine the existence oS gold ore. its
quantity, quality. or anything about
itunless one gets on three sides of the
deposit. and even then there is an ele-
ment of uncertainty about it, Ore in
| sight is what has been found after
blocking out a certain section of
ground. The blocking is accom-
plished in various ways in keeping
with the nature of the ground. Thus,
by sinking a shaft of 20 feet in width
100 feet into the earth and then rum
ming level from this, say 200 feet. to
another shaft the same depth and
width as the first, and then taking
samples of the ore or rock from all
parts of this block one would have a
good idea of the yielding qualities of
that particular block. This block
would be 100000 cubic feet, or about
10000 tons, and the assays from the
| four sides. the two shafts, the tunnel
and the surface would be the gold in
sight The center of the block which
cannot be reached until actual opera
| tons are begun, might yield much
more than the assays indicated. and.
| IN tbp nj bpr hand IL ,,,iob+ ho
worthless or barren rock. In cases
where the block of 1O0x2OOx20 feet
would be deemed insufficient for de-
| iermining the value of the mine an
other block of similar size may be
| aid out below or beyond the first. and
oy this series of blocking the value of
ihe mine as a gold producer is esti-
mated. 1t is a well-known fact that
yold is often deposited in shoots that
'un in Oblique and tortuous direc-
| lions from the surface, and one must
| De posted on the geology of the coun-
| 'ry to arrive at correct estimate of
he value of the land that has been
| blocked out. \ shaft. for instance,
nay run for 100 feet through rich ore
|
away may not strike any ore until
depth of 100 feet or more has been
reached. The next shaft 200 feet fur
Their away may have to be sunk still
further before the valuable rock is
'eached. and this would indicate that
the shoot runs diagonally from the
surface. This is only one of the many
| phenomena in the matter of gold veins
that present themselves to the miner,
and no set rule can be followed in or
| Ter to locate the valuable ore or to
| determine its extent. But the term
gold in sight or 'ore in sight is usu-
| ally applied to the block or to the
series of blocks which have been ex-
amined and assayed on three sides"