The copper era., 1902-12-04
MINES AND MINING.
CHASE GREET coPFER COMPANY.

The Chase Creek Copper cornpany. with an authorized capitalization oi sr aon. G0e. has just been formed for the purpose of acquiring and developing mining property in the Greenlee dls- trict. The company have already se- cured iorty-fo-r claims. all but four oi which lie within the mineral bet be- tween the famous Longfellow mIne' and the properties Of the Clifton Con- solida.ed and New England Copper compeny's holdings ou the right hand side of Chase creek. The property
 was secured from Dell NJ. Potter and I. '. ard c. F. Stevens, the original locators of the claims, and ~fiiie tte price has not been made public, It Is understood to be for good round sum. The property was paid Tor n ful by the new company which nave already taken possession and have conmenced exploiting and developing tbeir new holdings, under the man aeement Of I. W. Stevens. But little deveIopment work has been done on the property. but number of eminent mining experts who have carefully ex- amined and exported the territory during the past six months, have given 1 il as their opinion that the Longiel-
 low ieaa, which has produced millions | of dollars worth or copper. and is still one of the heaviest producers Tn tne territory, extenos through vnese
 ,lai.r.- Certfan ft Is that several of
 the strongest lodes in this district ex= tend through these claims. These lodes are well mineralized on the sur
 face, and show large iron blow outs
 and vast bodies of gosson at different | sections along the Veins, and on some
 or the claims rich glance and oxide
 ores are shown in place, as well as sul-
 phides of lower grade. There can i be no doubt as to the great mineral
 values of this immense property, but | like all copper property it can be oper- ated only by | strong company, and ii
 was for this purpose that the Chase Creek Copper company was formed. A. G. Smith, cashier Of the Gila Val
 ley Bank and Trust company, grouped the claims some six months ago, and through the assistance of a prominent mining man Of BOs- ton, the claims were finally placed with this new company, which has the
 backing of large numbe of wealthy eastern people. c K. Mccormick, one
 of the wealthest and most successful mining men of Utah, who maintains offices in New York. will assume the presidency of the company, and will take an active personal interest in the development of the property. It is the intention of the management of the company to open the property by tun- nels, which will be driven as rapidly as possible by air compressor drills. The main tunnel will be started from Chase creek, and will cut the veins at q great depth. Other tunnels will also be run further back from tho creeA, ana u Idr9c tfnOuuC or Pfo>f'-CU- ing will be done on all of the claims. The company expects to spend a vast sum of money in development work, after which it will be prepared to equipe the mines and erect such plants as are necessary for the treatment of the ore. The main working tunnel will be in close proximity to the track os the Coronado railroad which assures the company cheap and ready trans portation for its mining supplies, and eventually for the transportation of ores from that section of their claims. The mines are also accessi ble by wagon roads from Clifton, which will prove of great advantage in the economical working of the property. On the upper end Of the property the ore could bo conveyed to the Frisco
 rver by an incline tramway for treat ment, giving the company two out lets for millsites when the time ar rives for the treatment Of the ores. The group is most favorably situated for economical working, and will not be compelled to pay railroad transpor- tation on ores from their mines to the mill. The ERA gladly welcomes this new company to the Clifton district, and congratulates it on securing such a vast mineral estate.