The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-06-16

BINGHAM MINES
How Copper Glance and Illinois
Properties in Camp Are Be-
ing Consolidated.
PROPERTIES ARE INSPECTED
TREMENDOUS ORE SHOOT is
OPENED IN ILLINOIS SHAFT.

Joseph Oberndorfer went out to Bing-
ham Friday to inspect the properties of
the Copper Glance and Bingham Amalga-
mated companies. the latter being the
owner of the Illinois group and other
ground. He returned with altogether
more exalted idea of their worth than he
had previously entertained and proceeded
to explain what he had seen and what
conditions were.
AS lots of folks would like to know"
said Mr.. Oberndorfer, 'let me first say
something about the stock end of the
proposition. The Amalgamated Bingham
company Is capitalized for 100000 shares
For its Illinois and other property it is
issuing. 10000 shares and has set aside
10000 shares more to lake up the stock
OF the Copper Glance company, which Is
capitalized for ZOO shares, on q basis
of one share of Amalgamated for two OF
shares OF Amalgamated stock are held as
a treasury asset, to be disposed of for
development and equipment purposes; As
a large control of the Copper Glance
stock has already been pooled for eX
. change there is no question but what the
deal viii be fully contaminated.
Illinois Ore Bodies.
Now about the properties. The hold
ings of the Analgamated including the
Illinois group, flank the Copper Glance
group on the east The Illinois is equip
ped with fine hoisting machinery and an
incline shaft is going down on a splendid
ledge. In this ledge one shoot of ore has
been developed and shown to be forty feet
thick and ITO feet long. Up to date fifty
samples taken from this ore body with a
purpose of learning its average value,
have shown 2.S per cent copper, six ounces
silver and y in gold per ton. with an iron
excess over silica of 40 per cent This
ledge is dipping into or toward Copper
Glance ground and the probabilities were,
bad not the Copper Glance shareholders
decided to join with the Amalgamated.
trouble would have some day resultCN
over the apex question. The amalgama-
ton OF the two groups prevents any such
secure in its rights TO the Lodges and the
ores they contain.
On Copper Glance Side.
From the Copper Glance side of the
mountain covered by the properties the
Copper Glance company has driven in a
tunnel distance of 1,4o0 feet as straight
as an arrow. Four or five lodges carrying
good milling ores have been cut in rum
ming that distance and in the face of the
tunnel at the present time the mineraliZa-
ton indicates the near approach to an
other and possibly richer ledge than any
that has so far been tapped The face
of this tunnel is now go feet vertically
beneath the surface and it is being sent
ahead with the purpose of eventually con-
Meeting with the incline shaft Of the Hi
noiS and of tapping the same big and
rich ledge that is showing up so well in
Illinois workings [ was told that the
tunnel would not cut the vein in direct
line with the Illinois shaft. but that no
great distance would have to be run on
the vein to make the connection.
Big Operators Watching.
81 saw enough while at the properties
to convince me that the proposition is
one of great merit and | am not surprised
TO hear that big interests in the camp are
keeping close watch on what is being done
at these properties. tt requires no expert
to go through the workings and see that
hicy nina 10 haiDur 1lF~aloupd nd bnt
will be but a short time till the ground is
made ready for heavy production through
both tunnel and shaft. When the shaft
and tunnel workings have been connected
the mine will be ready for production to a
depth of about 500 feet vertically and over
loco feet on the dip of the veins. The
amalgamated properties embrace more
than 800 acres OF ground. all of which.
understand, Is patented