The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-12-27

that 1,113,7l6 tons Of ore We're blocked
out. This estimate was arrived at by
computing ten cubic feet to the ton.
BY shipping experience IL has been
learned that a ton is made from eight
cubic feet. This difference increases
the former estimate 100000 tons. The
work of the last year has added 10 these
totals 335, 600 tons, 90 that the visible
tonnage now aggregates 1868, ll6 tons
This ore, it is stated, should average
4 per cent, or better.
The last report. issued in November
last. speaking Of the contract with the
Bingham smelter. says: The ore is to
contain not less than 3 per cent copper,
shipments to commence on the date of
the completion Of the railway to the
mine. On this grade Of ore. under the
terms Of the contract. a net profit will
accrue to the company Of from So 10 s.
per ton. This profit should be increased
if our ore maintains a high excess Of
iron. We are at liberty to make con-
tracts for additional deliveries and viii
do so from time TO time as our interests
demand
Output Easily Increased.
"By these contracts we have obviated
the necessity for raising capital 70 con-
struct our own smelling plant and the
=
and are enabled to derive an immediate
revenue from our product at q mimi
mum cost of transportation and treat
ment Should it be necessary OF desir-
axle to erect our own plant for
the reduction of our ore. or to con-
tract with other smelters, the contracts
already made viii not interfere, be
cause we are prepared to furnish 500
tons q day in addition to the amount
required by our contract with the Bling
ham Copper & Gold Mining company.
we have always regarded our ore
as neutral in character, containing
about an equal amount of silica and
iron. but on the ore already shipped
we have discovered an excess Of about
/ II per cent iron. The smelter pays us
I 40 cents per unit on the excess of iron
1 over silica. on the ores shipped and
/ settled for SO far we have received from
I the smelter $40 per ton on this ac-
count In our contract with the Bing-
! ham company, that company has all
J lowed a profit of 81 per ton for smelling
/ but where our ore contained such a
! large excess of iron over silica, the cost
/ of treatment Is much less by reason OF
! the payment to US of the premium men
toned Ii remains TO be determined
when the larger shipments are made
whether the iron excess VIII be uni-
I formly maintained.
Tn driving from our cross No. ] 20
( our cross No. 2 in the work tunnel, we
[ have found IN the mass of medium
grade ore large quantities Of high grade
orc containing from 20 10 40 per cent
! copper. with gold and silver values av-
eraging S. per ton. but until STOPPING Is
/ done and shipments made on a large
[ scale. we cannot speak accurately as
/ TO the quantity of this grade Of ore.
I In estimating the tonnage Of a per cent
copper. we have not included the assays
on the high grade ore. In our estimates
/ heretofore of the value OF our ore we
/ have figured on one ounce of silver per
ton. but returns from ore already ship
ped show over two ounces. Our gold
values have also Increased, as shown By
the smelter returns.
T I'm preparing our Slopes for shipment
from no. 1 cross-cut Of the Peabody
tunnel the ore which have heretofore
reported as 2 per cent copper changed
/ 10 3 per cent And the entire Slope Is
now in ore Of that grade.