The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1902-04-11
THE VERMILION.
The Duluth News Tribune Talks of a Boom
on the vermiiion as Follows:

IHo DutuCn NeWsTr1Dune Talks OF Boom
on the vermiiion as Follows:
The biggest boom that has been
witnessed in iron ore lands since that
of the Mesaba range in the early
nineties now seems assured on the
Vermilion range. Agents representing
interests about which nothing def
mite is known here at present, are
securing the range for options to lease
or buy. That these agents represent
large interests none doubt. They
are provided with plenty of money
and they are looking for all the
land of even remote prospective ore
value they can get hold of. One A.
NJ Beyier. who is believed to repre-
sent G. w. Gates has secured control
of 10000 acres and is looking for more.
Several other strangers are i'm the
city on the same GRAND. Nobody
here knows who any one of them re-
presents.
1t is the opinion of many that the
big money has not yet been made on
the Vermilion. There has been more
or less exploratory work done of late
years, but no big finds have been
made. 1t has been considered singu-
lar by iron ore men that no discoV-
cries of importance should have
been made between Tower and Ely.
AT the latter point there are several
large mines and two or three more
are prospective. At Tower are the
famous Minnesota mines. But be-
t8een the two places, a distance OF
about % miles, nothing of Importance
has been found. The general iron ore
formation runs from Ely past Tower
to the Mesaba range. 1t is claimed
that one may follow the formation
between Ely and Tower all of the way
between the two places except
through the swamps. OF course the
agents who are picking up ore lands
are anxious To get as much land on or
in close proximity to the formation,
as possible. Captain NJ. L. Fay has
taken an option for Il lease on the old
McComber property. 1t is situated
ON Armstrong lake between Tower
aud Ely. He will sink the shaft
wii,ch has been started there and
Nuke such other explorations as may
be necessary To determine whether
there is u good ore body there.
It is a remarkable fact. according
TO a well known mining man, that no
mine has ever yet been located on the
Vermilion by diamond drill. The
Chandler deposit WAS all outcrOp.
The old Minnesota Iron company
condemned both the Savoy and Sibley
after using diamond drills upon the
properties. The wonderful Pioneer
mine was first shown up by the shaft,
which was put down about 700 feet
before il came upon the large ore
body. At short intervals small puck-
cts of ore were found aud then they
ran Out. The prospects seemed SO
discouraging for finding large ore
body that the Duluth & Iron Range
road came near not extending TO Ely
at the time the extension was con-
templated.
1t takes much money to conduct
explorations OH the Vermilion, far
more than on tile Mesaba where the
earth cap is not so deep. but the dis
covery Of a good mine on the Yer
million means much A prominent
iron ore man said the other day that
if he had 1t mine like the Chandler he
could getS1 Il ton royalty. An idea of
the value Of the hard ore mines of the
Lake Superior region may be obtained
when it is said that the Pioneer at
Ely is considered worth SIC, 1000, 900. .
The great cost of conducting ex-
plorations on the VermiliOn has held
money back. but the new value which
attaches to the hard ores of the Lake
superior region by reason Of so few
| discoveries on the old ranges Of late
years, is strong incentive. 1t is be-
lieved that powerful interests are be-
hind many OF the moves now being
made on the Vermilion.
Valuable Invention.