Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-08-14
Boston Publication Again DevoteS
Space 10 Great Bingham
Copper District.
FIVE PARALLEL VEINS OPENED
Paryenuc Tunnel Has Entered Miner.
allied IOnc-Orc Sold at
\ Premium.

] ll tl' ulltHl ISSUE OF the Boston COM
merciaL 81, Is a splendid prospect. %
continues the writer "dnd at the same
time already has a great deal OF de-
veloped value. The company probably
has 100000 tons OF commercial ore in
sight, besides considerable concentrate
ing ore. TWo-thrds Of the total ton
mage Is copper ore and one-third lead
silver.
The smelling ore Of the Utah Apex
averages the highest In the Bingham
camp. Its copper ore yields about 80
per cent copper s. in gold and to 10
ounces 10 silver. The average Of all the
ore the company has shipped has been
better than s. gold and $3.50 silver to
the ton. Its lead ore runs from IS 10
b1 per cent lead and from 10 ounces 10
100 ounces Of silver per ton. Its lead
SILVER ore, however, has not been sufii-
dently developed 20 warrant a state
ment as TO what the average will be.
FIVE PARALLEL VEINS.
The ores OF the Utah Apex are found
in five parallel veins which occur be-
tween the foot walls OF the limestone
and regularly alternating quartzite
beds. which traverse the property from
east 10 west. These beds and veins dip
north at an angle OF about % degrees,
making them rather too Hat for highly
economic mining. The lime beds are OF
considerable width or thickness, and Of
a character which encourages one 10
believe that IL viii be- found IN deyel-
opment work that they have been re-
placed In the vicinity OF the big cross
assures by large bodies Of smelling ore.
This theory, indeed, is said to have re-
ceived confirmation since my recent
visit TO the property. the drift In the
lead ore IN the Andy tunnel having run
INTO a deposit OF go ore which showed
% feet OF width In a crosscut.
The average width Of the veins OF
copper ore 50 far developed is about
feet In one or two places. however,
the naturalization has spread out 10 a
very considerable width. the ore i'm
these sWolls however. declining 10 rath-
cr low grade milling material. De-
vclopment results so far indicate that
there is considerable tonnage Of high
grade smelling ore which can be got
ten out quickly and which viii yield the
company a substantial profit The ore
u not only high grade, but 10 carries as
rule q substantial excess OF iron.
which reduces the cost Of smelling To
the minimum. The custom smelters
pay a premium for this iron which at
times equals the total expense OF smelt-
Ing have seen a number OF smelter
statements which showed that the Utah
Apex company had actually received a
net credit of 3 cents to 30 cents Der
ton, and several others where the total
cost OF smelling It's ore was from >
cents 10 - cents per ton only.
The company Is at present carrying
out two Important plans for the opera
ton and development Of its 200 acres of
mineral land. II Is constructing an
aerial tramWay which will enable il 10
ship and market Immediately the high
grade copper and lead-sllyer ores which
nave been and are in course Of develop
ment. and u Is extending the so-called
! PaNenue tunnel to cut It's veins about
| 200 feet vertically and I, 200 to 800 feet
| ON the dip below the Andy level This
/ tunnel VIII drain the property and viii
! provide am avenue through which its
! ores can BE- dropped down from the
/ higher workings and trammed out 10
the railroad cars which will take Them
| 20 The shelter
ENTERED MINERALIZED GROUND
The Parycnue tunnel. now 800 feet
long, has already entered the main
. block ot mineralized ground owned bv
/ tue company and within "A month
or Two should cut one or more
/ OF the veins which have been demon
sifdted nearer the surface and prove
/ whether oi not they carry workable
f. values al depth.
While The Company's conner is
. high grade and valuable. recent deyel-
/ opWents encourage the belief that the
/ oompany's greatest wture earnings
| may come from lcad-snvcr ores. The
/ drifts which are following the veins
west are nearly an In lead-silver ore.
/ The compauy's property 20 the west has
] yielded considerable tonnage OF high
I grade iead-silycr ore ln superficial
/ workings in times past High grade
lea1-siINeT ore Is more desirable even
than high grade copper ore as 10 Yields
/ comparatively larger profits on the ay-
. eagc.
The ttah-ApeX property adiolns The
Titan Consolidated property ON tha
. north. 10 Is farther up the mountain.
and rs limestone beds occupy a higher
geological horizon. The report circu-
lated some years ago that this com-
pany would be able 20 apex the ore
bOdies ~ the Utah Consolidated com.
rany has no basis IN fact as Utah-Aprx
veins iip away from. and not toward
/ thc Utah Consolidated property.
RECENT BOND ISSUE
The Ttah-ApcX company has recent-
Is issued 800 600 Of bonds. AN convert.
ihly lnjo stock no s. per share Tbi.
/ win Cal Tor only $1,000 shares of new
stock The comIauY's outstanding can
stan is low $4,000 shares. of which
about 10000 shares are owned in Great
Britain aud Europe The rtah.Apcx
has excellent titles 'o 40 ns propertics
/ 10 has bought iu ana owns every shaJs
/ Of the Psit0 Highland BOY Consolldat
ed and Other companies whose prop-
critics arc Included in ts holdings. Bs
Tar tlc greater portion OF is develop.
mtni work has been paid for out o,
uuns on iis ore shipments Nearly an
NJ DE money obtained by The sale of
stock. during the past few years. wa.
used i0 buy additional claims
There is 90 probability that the com.
pauy WIN De- bon shape % pay dividend.
inside oi one and half OF two years
IT, future expenditures however, Will
De- confined chiefly 20 development work
and N developments continue favorahl.
the company vii b. able to ship a larEs
tonnage Of ore Immediately after he
tramWay is completed. 4 little later
production should begin from the much
lower levels. which are to be opened hy
the parvonue tunnel.
son the hasia Of what the company
actually has developed. Uiah-Ares
stock Is perhaps selling high enough AT
present Those who are buying q. how.
ever, are taking the mining chstce tina,
larger and much more valuable or
bodies VIII be developed IN the erien.
sion Of the work now under way. AM
there Il much more than an even chanc,