The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-12-29
LOWER MAMMOTH
MINING COMPANY

This company was organized July g.
1896, with capitalization of $50. Co., di-
vided into 100000 shares of the par
value Of 81 each Its property consists
of six mining claims: The Lower Nam
moth mining claim, the COlcOnda min
ing claim, the GOlcOnda mining claim
the Shelby mining claim, the Hungarian
mining claim and the Anita mining
claim, in the Tintic mining district, all
patented Since its organiza ton and
within the past twelve months. il has
acquired additional territory lying 10
the south of the other claims, from the
Old Colony company. under an adjust
ment made while patents were being
applied for to the United States.
The property is situated south of, and
adjoining, or practically so. the Grand
Central mining claim, the Mammoth
mining claim, and the Ajax mining
claim. and is. according TO the consen-
sus of opinion of leading mining engi-
neers, a continuation of the same min
eral formation prevailing in the last
mentioned claims.
There has been a throw of from 60C
10 200 feet TO the westward, south OF
the above mentioned claims, where al
the characteristics and actual develop
ments indicate that the great vein, OF
mineral formation upon which it is sit
uate. is the same as in the Grand Cen
/ trail, Mammoth and the Ajax.
The Lower Mammoth property has
| yielded since 1897 in the aggregate
$3.50 602. =, and has yielded, over and
above freight to railroad companies
! $685. 0SS.05. The largest portion of this
amount of money was yielded from the
east side of the Lower Mammoth prop
/ erty, portions of which territory were
very rich. The developments upon the
! east side of the territory, and apart
/ from what is known as the west vein
now being actively exploited and mined
/ have been carried 10 a depth of 1.20l
! feet only, some of the ore of which was
very rich.
The ore vein. so-called, yielded in the
/ year 1901. $74.041.46 over railroad freight:
I in the year 1902. $50, 2SS.2S; in the year
1903 S54. 4SS So: in the year 1904, S16,076:
in the year 1905. s., 94764; in the year
| 1906 S9l4S; in the year 1907. s109. 956-
/ from May 1 TO Oct. 9, and since that
date, Sl4,235. A large portion of this
aggregate sum was extracted from the
east side of the prOperty-practically
all of it up to 1906.
This ground has been opened by
shafts to the depth of 1,S00 feet. The
| very large west VEN mas been exposed
on every level from the 1000 to the SOC
level, by drifts several hundred feet i'm
length in the vein. The lowest level
| reached by the shaft is the 1880, from
which a crOss-cut has been driven east
to catch the vein, little more than 100
feet, where the fissure was encountered.
Drifts are being driven north and
south on the vein. Some water has
been found, which has somewhat de-
layed the opening of the vein on this
level, but that has now been obviated,
and from this on. that level, it is
claimed, will be rapidly opened. Some
of the ore exposed so far on that level
is immensely rich in copper, and carry
ing fair values in silver. 1t is believed
by the management that additional ore
bodies viii be found by carrying the
cross-cut further to the eastward.
From May 81 to the 1st of September
1907. five dividends were paid, three of
sc per share and the last two of 7lzc
per share, making in the aggregate S57,
900 in dividends paid for the year 1907
These dividends all come from the inn
mense ore body developed between the
LOO and 1,600-foot levels. From the
800 to the 1.500 a very large tonnage
of ore is exposed, and is practically in
tact, of the same grade as that from the