The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1906-10-06

The New York Commercial says in a
recent issue:
Estimates of the value of ore now in
sight in Tonopah mines, including
values in the low grade milling ores on
local dumps, places the total at APP
proximately $500, 600, 900. The mines
included in this estimate are capitalized
at $40, 900, 900, while the present market
value of their stock is about $40, 000, 900,
thus indicating the foundation upon
which the stock values are based. The
area included extends about $4,000 feet
from east to west and about one-third
of that distance from north to south,
but within these limits ore reserves have
have been developed only by the eX-
|ploration of less than OF
the acreage, on the strike of known
veins.
Tonopah is just beginning the cree
ton of reduction plants for the treat
ment of its own ores, and when these
mills shall nave begun work they will
reduce the price of ore treatment by
from $40 to SIS a ton below the present
cost of shipping to the Utah mills.
This, it is estimated. will mean an
average saving of perhaps 20 per cent
of ore values. Moreover, it will mean
the reduction of low grade ore now on
the dumps, and which cannot be utilized
prohtably at present because of the eX-
cessive freight and smelter charges.
The Montana-Tonopah has been con-
sidering bids for the erection of a 40
A- 40 -A-.ss-- ~ n;1ht haffarinC
of five stamps each. The stamps will
act as crushers only there being no
amalgamation process used. After pass
ing through the batteries the ore will go
over a number of concentrating tables,
where the first concentration of pyrites
will be made. This product and that OF
a later concentration, will be shipped.
The Montana-Tonopah has more ore
in sight that is generally believed UNI
covered by two and a half miles OF I'M
foreground workings.
The oldest mine in the district, and
the one upon which the greatest amount
of work has been done is that of the
Tonopah Mining company. Here the I'M
foreground workings extend four and
one-half miles, and it is estimated that
S65, O0O, 600 worth of ore is in sight. Tit
company has expended about 100000
in development work, and paid s1,500.00O
In dividends and now is erecting a 100
stamp mill at Miller Station, IL miles
from Tonopah.
This mill already is practically COM
pleted and cost about 100000. 1t is ex-
pected TO increase the net earnings from
the mine by 81 1000. 900 a year. The com
pany is controlled by Philadelphia bank
ing interests and it's stock, which sold
a few years ago at 81 a share. is now
quoted in the neighborhood of $19.
With two miles of underground work
ings, the greatest depth reached being
about 600 feet, the Tonopah Extension
has developed an ore reserve the value
of which is estimated v~ariously at from
SIS, 900, 900 to $40. 600. 900. The ore body
is from ten to fifteen feet in width. The
| stock, par 81, sold for 10 cents a share
two years ago. Last February it
brought SIS bu recently declined from
it's high figure to 1915.
Estimates credit the Tonopah Belment
with about 49, 200. 600 of ore in sight.
The mine has been explored to a depth
of $50 feet and is regarded as one of the
most promising properties in the field