Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-08-01
WEALTH OF GOLDFIELD


Special Dispatch to The star
GOLDFTEI.D. New. August THE first
discovery OF ore was rnesde at Goldfeld
about two years and q half ago. In this
time 1t has produced about 100000 in
gold. breaking all records for mining dis
tricts output during its first years. This
yield. however. came in most cases from
but portion of the ore taken out in &C.
tuai development. The cos. of the freight
haul to the Salt Lake smeAers = over
LOCO miles discriminate II impossible to
market ore running mach Under 500 a ton
Great quantities of the lover grades have
been accommodating In the meantime. await
ing the erection of local mills.
The somewhat refractory character of the
Goidfield ore has made Its reduction
problem to be carefully thought out The
mining companies have bsen experimenting
at reduction plants all over the country
with different processes for the purpose Of
arriving at the best means of treatment.
GoIdf1eld now has milling capacity of
only 800 tons week. but number of
the building of plants. some of which are
nearing completion. which will raise the
milling capacity to about 5000 tons weekly.
Some Astonishing Disclosures.
The camp now has many producing mines.
in several of which astonishing disclosures
of collaborating rosk have been made from
the very srass roots. While development
on the oldest Of these has progressed for
over two years. number or them have
become proven mines in the last few
months The conditions facilitate n rapid
development Of the ore bodies, the rich stuff
beginning much nearer the surface than
is the rule with most mineralized sections.
Mining men have been slepticaI about the
values found near the surface running to
great depth because the geological for
nations differ from any they had known
go down. however. the Indications have
greatly improved. and It would now be diff
hcult to find a well-fnformed mining man
who does not believe that thu values will
300 and 400 foot levels Of several mines
suiphides have appeared which give the
best assurances of this. Other good in
dications are the appearance of silver and
A Sensation Almost Daily.
Almost every day brings some sensation
in the shape of discovery of new vein
or the marked Increase in value OF one
already under development Properties
which year ago were but raw prospects,
with their stock selling at from 10 to 10
cents share, have since been made mines
with several millions of dollars worth of
exposure of wealth has only begun
One company. the stock OF which was
last year selling at 10 cents, will probably
yield from So. coo 600 to 100000 within the
current year. The market values of its
shares have appreciated 1900 per cent in
nine months.
Two others which were but a few months
ago raw prospects. on which no values had
yet been found. have been rapidly taking
rank as proven mines.
The most thoroughly developed and equip
ped mine is the scene of the original dis
coyery. 1t has paid twenty-five consecutive
monthly dividends of 10 per cent on its ca D.
italization. while the twenty-third distribu-
ton. made this month. was at the rate of
10 per cent. With a twenty stamp mill. the
company is producing at the rate of S12 200
a day BY an Intelligent adapting of the
reduction process to the ore In hand the
company has found no difficulty in handling
it at it's local mill
half dozen mines have been proven to
depth OF from 200 to 400 feet. In each of
these from 81 100000 to SS000OOO worth of
ore may with fairness be said TO be I'm sight.
In addition to these others which may
be classed as something more than pros
pects but not yet mines. Their manage
ments are working in good ore. with prom
Using indications. but development has not
sufficiently progressed to demonstrate its
volume