The Idaho Springs siftings-news., 1906-06-09
old TOWN ERA
MOST IMPORTANT STkIKE IN YEAR
AS RESULT OF DEEP MINING.
HALF MILLION DOLLARS FOUND
WILL SINK SHAFT 500 FEETFoR CON-
NECIioN WITH HOT TIME.

The greatest strike ever made in this
section of the Centennial state is the
magnificent ore body now exposed for a
length OF 100 feet along the west bottom
level from the 500 foot station in the
shaft on he Old Town mine, in Russell
gulch. It's great nporl lance lies not
| alone in the size Of the ore shoot, but as
succe sful example of the result of
deep development, aud that it has de.
clded the management to resume sink
ing the shaft at the earliest practicable
time.
For the past few weeks the west 500
| foot level has been driven in one of the
huest bodies OF ore ever opened in
uIne. Beginning 1T point SIS feet west
of the station the ore shoot was entered,
which has continued for leJ 9Th of 100
feet. The average width of the vein
is five feet and samples taken systematic
ally and at random, show assay returns
averaging 2I4 ounces gold, and 10
sllve-, or a gross v due Of s4o88 per ton
III god aud silver and III addition the
ore will carry iIom two 10 IS per cent.
copper.
The top of this splendid ore shoot was
encountered In the I,3o3-fUot level 200
feet above, ebut the 4oo-foot drift has
not been extended into the body of ore.
AT the most conservative estimates the
block of ground already opened up
should vi Id III excess Of half million
/ Il pt nd ha lam af
the ore shoot N The Bottom level has not
yet been determined
len Years ago the Old Town claim was
developed only BY shaft 10 feet deep.
Since that time the mine hes produced
$500, 900 gross, from ground opened up
10y Ia s o feet Of shafts, levels and raises,
or a the rate of sl5a 50 per foot of dew
elopmcnt work.
AS soon as the 40. of surface water
subsidies, sinking OF the main shaft will
| ue resum d and 1t vii be continued to a
depth of $40 feet, at which point a
level will he driven east to connect with
the lateral now being driven west from
the Newhouse tunnel. The latter has
| already been driven over l, 100 ieet. The
BIC electric plunger pump al the 1900
foot station musl now be kept running
twenty hours daily, lifting so gallons OF
water I,5oo feet per minute through
4. inch wood lined water column. The
flow of surface water INTO The mine will
continue for about six weeks vet, after
which the normal fJw viii require the
operation of the pumps bat from three to
six hours daily.
The distance by survey between the
llue of the Newaouse tunnel and the
bottom of The Old Ioy.. sntn which are
to be connected IS 4, 500 feet. Manager
Geo. X. kimbal, it,. hlltc YES that under
thc method Of work now contemplated
that the connection can be completed
within year or tIueen months at the
most.
The Old Town Conso.1dated Mines
company is practically a close corpora
ton, there being less than sixty stock
holdeis. Nine tenths of the stock is
owned by three interests. No dividends
have been paid since last Septem Der,
a,d reserve fund of over SIS, coo has
accumulated and been set aside for the
: proposed plans OF development. Forty
sets OF ieasers taking out ore under the
tribute system, yield monthly revenue
TO the company of between $4,000 and
1000. Altogether, I7o men are em-
ployed in the mine and on the surface
The Jackson concentrator in this city
with daily capacity of 100 tons of
crude ore Is kept steadily running on the
output of the Old Town mine, the ore
being hauled by the Gip!u tramway and
the {. & S. railway cars by way of
Black Hawk and also bV wagons down
Virginia canon.