Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-01-08
LOWER MAMMOTH
ANNUAL MEETING,
---------------------------------
Shareholders Met This Afternoon
And Heard Some Interest.
ing Reports.
NINE IN SPLENDID SHAPE.
Developments OF Past Year Have Been
Observation-Disclosures
Reduced.

The shareholders OF the Lower MAN.
moth Mining company met in annual
session this afternoon and listened TO
some interesting reports from the ex-
ecutlve committee, which consists of IA.
q. Mcmillan. a, c. Ellis. Jr., and A.
Reeves. and from Mine Supt. William
Ball, who gave a detailed narration OF
the operations of the mine since he
took hold early In last year.
The executive committee. In It's state
ment to shareholders, looks forward to
a very prosperous year and says:
THE Issuance OF this report finds our
properties at an interesting and crltl-
cal stage OF development. We are daily
expecting to reach the east fissure In
the cross-cut from the shaft on the
1000 level This orosscut was started
Tor the purpose OF prospecting for the
east assure and while 1t proved to be
great and rather expensive under
taking. still II was considered a most
and valuable part OF the mines deyel-
opment.
II penetrates large area of ground,
hitherto UNEMPLOYED, and will intercept
the vein at point 400 feet below any
workings on the iissure.
When II liz remembered that
ore from this fssure up TO the
time work was discontinued on the 100
foot level, furnished the company, net
tia; s aside from smelling and freight
charges. some $500 600, the Importance
OF the olan Is az once realized.
When work was ceased on the l,l0p-
foo level, after taking out the ore,
the vein was left well defined and
strong and contained numerous small
shoots or stringers of ore of very high
grade. On account of having to ham
die 80 much low grade or waste ma
terial, they could pot be mined so as
TO yield profit, and the proposition
Of further sinking to any considerable
depth was "A project too expensive to be
entertained. II WAS therefore. decided
to run the cross-cut and intercept the
flssure on the i.500-foot level, which
would offer exceptionally fine prospect
ing advantages and at the same time
afford means of economically extract
/ Ing the ore. We ran the cross-cut $50
| feet through extremely hard lime, with
| no break or minerallzed matter appear
| ing. At that distance. however we en-
| countered large cave iilled with loose
| material. showing mineral stains or
| iron and manganese. and assaying from
| three to five ounces IN silver. This was
| q decided change. being the beginning
| Of broken country. and the end OF solid
| lime formation which indicated thai
we had reached the mineral bearing
| zone and that the vein could not be far
| distant About 80 feet further through
| the lime, over the top of thu
cave which had dipped downward and
away from the course of the cross-cut,
and was therefore not followed, we
| broke into a second cave.
This cave bears directly east and to-
wards the assure.
The cave material is more highly
mlneralzed than that OF the first one,
being heavily impregnated with iron
and manganese. We have as yet made
but two assays of il. which gave re-
suits IN marketable metals of an aver
age OF but 80 ounces silver. We are in
what Is known as core making rock"
| which Is never falling characters
| tic indication of an ore body being in
| close proximity.
Before another month IL past, we
| feel confident that we win have reason
| 10 rejoice over the location OF a new
ore body.
BIG ORE BODY OPENED.
con the west assure conditions APP
pear quite as promising and we have
here the largest ore body ever devel-
oped In the Lower Mammoth mine. We
recently entered into contract with
the Ohio e. Colorado Smelling & Refin-
Ing company for the purchase ot this
ore under favorable terms, and have
delivered and received settlement for
ono lot. which yielded returns of 1884
per ton. We now have four more cars
IN transit and will continue 10 ship reg
ulariy. The first lot yielded below the
average value Of the ore, as the bins
contained accommodations from a lot OF
prospecting and development work,
which was not taken from the main ore
| body, The thickness of the ore body
| has already been demonstrated to be so
| feet by means OF an upraisc 30 feet.
| Wine 30 feet deep with neither
| roof or floor vet reached, and es to
| length we have drlfted through pay
ore n distance Of $50 feet with the
| proceeds OF this ore we are enabled
| Ia pay working expenses. materially re-
duce and, eventually wipe out our pres
ent indebtedness.
INDEBTEDNESS REDUCED
Prom financial point Of view much
has been accomplished during the past
year. We have liquldated some large
debts. notably among which are the
Telluride Power settlement, 81 $50 IS.
and the Black Jack Mining company,
$500. We have retimbered and enlarged
the winze from the 1900 TO 1 400 foot
level. put In new cross head and re-
set the holstlrg engine We have in
stalled new air line Of 3-inch pipe / zoo
feet long,
I'VE commenced the year with llabili.
ties amounting to approximately $50 COO
and close with the most important de-
velopment Of the mines history. near
inr compilation. and liabilities amount
inr 10 sl503767.
~ this writing the shareholders had
not chosen o board Of directors to serve
during the ensuing wear. but II Is hard
ly probable that there will be any
change from the old board