Bisbee daily review., 1906-03-14
PICACHO DEAL IS
 NOW CONFIRMED
WHILE THE PRICE PAID IS NOT KNOWN, REPORTED SALE
 IS CONFIRMED.

report printed last week in the in- ternationalAmerican concerning the sale of the Picacho mine, is taken from the Cananea Herald:
 Rumors of the purchase of the Picaeho gold mine of the Phelps Dodge company by R. K. and R. D. Clancy and associates have been in the air for some few days, but it was not until last Tuesday that these re- ports could be verified.
 The truth of the matter is this: The Clancy brothers and certain un- known parties in Detroit, Michigan, have formed a company and bought this valuable mine from the Phelps Dodge company for figure which is admitted to be large, but which can not at present be named. Before buying the mine it was thoroughly sampled and examined by R. K. Clan cy. this work taking about thirty days, and it was only after this eX- haustive investigation that the de- cision was reached to buy the prop erty. !
 Negotiations for the purchase of this mine have been going on for some time, and after the inyestiga- tion by MT. Clancy was finished, the interested parties met in Fl Paso and last week the deal was consum- mated. The property included in the deal is the mine, the company's store, the Almagre ranch of 2500 hec- teres, the telephone line extending from the mines to Turicachi, a sta tion on the Nacozari railroad, and everything belonging to the camp.
 The management of both the Orc Maximo, the mine which the Clancy brothers have made famous, and the Picacho mine will be under the same head, and the main offices will be at the mines. Cananea will be the shipping and receiving point for both properties, thus giving this city another source of business.
 Machinery sufficient for 200 ton amalga.lating and cyaniding plant to be installed on the Orc Maximo property will arrive in Cananea very soon. and will be immediately ship ped to the mines. This will be in ! operation within few months. The x character of the plant to be installed was determined by exhaustive exper- tments and tests on the ores by W. E l.. Holms of Mexico City, metal lurgical engineer and cyanide expert, who is considered the greatest au- thoTity of the kind in Mexico, and who has been retained by these two companies as consulting metallurgi- cal engineer.
 At present there is a large force of men at work at the Orc Maxine mine, and the present force employed at the Picacho mine will be in- creased as rapidly as required.
 The water necessary for the mill ing operations will come from the Gro Maximo plant, which is only about two miles distant and which is eutfcient to supply both the proper ties.
 The purchase Of the Picacho mine explains, the building of the Gro Max ino road. which was generally con sidered quite a difficult undertaking, but it is evident that this road was built with the intention of being of service to both properties, and now will be extended so that the Picacho and the Gro Maximo will each have a direct and serviceable means of reaching this city.
 The policy of the new management will be to develop the mine as fast as possible and to get results that will justify the action taken in ac- curing it
 A stage line has been put into op- eration which will connect Cananea and the property, and is engaged at present in taking miners and other employees to the mines, where they will be employed under and in ac- cord with the plans of the new man ager, MT. c. R. Clancy.
 The property of the Picacho mine covers the entire vein on which it is located. and this fact is not well known in this city. There has been a supposition that another company possessed an extension" of this vein but this has been proved to be untrue.
 The character of the ore in the Pi- cacho and Gro Maximo mines as well es the formations are identical. The veins Of each are parallel, witn tne same dip and course. On the Gro Maximo property there hes already been done a large amount of devel- opment work. At the present time, in addition to what has been going on for some time past, two vertical per nanent working shafts. one of two compartments and the other of three, are being sunk, and have reached considerable depths, and it is ex- pected that the same manner of de velopment and extraction will be fol. lowed in the Picacho. It is said that ores of great values have been taken from this mine, and under slight de velopnent, but it is universally con ceded that the main ore bodies have not been touched.