Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-11-12
According to Report Of Nevada
Con. Consulting En-
gneer.
DIRECTORS MEETING HELD.
Work to uutc Gl1r- Good Ground for
confidence 100
Future.

Tho most important Development at
Che annual stockholders meeting of
the Nevada Consolidated Copper Co..
held at Portland. Ne. on Tuesday
was the submission OF the figures and
report ON the ore reserves OF the prop
erty al Ely Nay. by Pope Yeauman
the company's consulting engineer The
tonnage ia sight, according TO Mr.
Yeatmau including the Development
blocked out by shafts Jewels. raises
ana drill holes. shows l44s2962 tons.
with an average copper extraction of
80 pounos ton and come gold ana
silver. for which Doe allows d sum Of
10 cents a ton.
out of o. total OF 100000 shares %
stock 100000 shares were voted ana
The present board OF directors Was ace
elected. James Phillips Jr. tue prose-
dent OF the company. BOO his report 20
the stockholders. said that Hs good as
mn. Yeatmau.s report seemed. tle de-
yelopmeut t0 date represented oniy %
per cent of the company holdings
Territory contiguous To- ouf GROUND,
be- added has been prospecied ny
diamond drin aud gives Indications of
equallng the ore already shown "p.
ORE OCCURS IN PUNCHES.
Thc copper ore. says Mr. Nc1t-
man Boo part occurs mainly as cfai-
cocite in q secondary enrichment thIs
chalcocite. 900 the form OF speclrs. Vein
lets and punches being lu porphyry Of
which there are large intrusive MASSES
in both the Eureka and The Ruth
groups Besides copper in the form
OF chalcocite. there is also some chai-
copyrite Iron pyrites IS associated Win
both minerals
THE ore bodies in the Eureka and
Ruth groups have been developed and
show ore blocked out by shafta. lcNcia
raises, and drill holes, aggregatns ~
1925 TONS with an average copper
extraction OF 40 pounds ion. dnu
some gold and silver for which an e1-
traction OF 10 cents a ton OF ore is al
lowed.
outside OF the developed ore bodies
there are great possibilities. These are
indicated. first. by the typical por-
phyry croppings. second. by under
ground workings. which have not yet
been carried out beyond the limits OF
the ore third. by development By
means of drill holes. which have pone-
trated ore bodies.
'The most important of these pos
sibilities are. a new ore body in the
Ruth section promising because Of
the fact that the cross-cuts Of the Ruth
are atill in payable ore. a large mass
Of copper-bearing porphyry "a portion
Of which has been prospected by drill
holes. showing ore averaging about
per cent, the extensions OF the Eureka,
where boriugs with the diamond drill
have disclosed considerable bodies OF
good ore. and. probably the most inn
portant Of an these possibilities, an
ore body. lying adjacent 20 tho main
Eureka ore body aud opened up by drill
holes which shows "a thickness 81 ore
averaging l42 feet, "a possible length
of 5000 feet ana an average assay
value Of 2 AZ per cent copper
DEVELOPMENT SUSPENDED.
While The report makes no mention.
OF the work now being done az this
property advices from Ely state thar
AN mine development has been SUI
pended the reason given being tina.
Tho mine is so far ahead Of the redut
ton works that TO spend additional
morley developing under the present
financial striugency would be- ulwiss
Work at the smelters is goiug ii0u.
very slowly. no effort being made go
rush work whAe copper remains down.