The Idaho Springs siftings-news., 1907-06-22
TO BUY BIG
SARATOGA
Company Formed to Take
Up Option on The Great
Mine Which Has Yielded
Many Millions And Has
More In Sight.

the secretary of state Wednesday tor the
ZION company, with a capitalization of
Fl ,ooo, 900, divided into Io. 900 shares of
the par value Of fIoo each.
The company was organized for
the purpose of taking up the bond on
The big Saratoga group of mines in lower
Russell gulch, consisting of nineteen
patented claims. which have been de-
veloped by nearly ten miles of shafts and
levels. The property is now held under
lease and bond for 100000, and it 10
intended to provide for taking up the
bond and absor ping the stock of the
the Saratoga Development company,
which has b en- engaged in unwatering
the big mine by driving lateral ON the
vein from point three miles in from the
portal of the Newhouse tunnel. This
lateral has already been driven nearly
half mile and the water has all been
drained from the mine workings. On
account of the gas, access cannot be had
t, the mine workings below the seventh
level where are located the largest and
richest ore bodies IN the property.
The raise was started from the lateral
| as an open stope to connect with the
| tenth level, and en this is completed
1t will furnish excellent ventilation both
for the mine workings and for the New
house tunnel. The open stope was
carried to heighth Of nearly hundred
& .t,,Iz
very little waste rock was extracted,
everything between walls being of a
smelling grade. 1t is said that for the
past ten weeks An average of hun
aFed~ tons of orc were shipped every
week which gave returns of from $II to
SIS net per ton.
| The siope system was abandoned the
first of this week and instead a crew of
three eight-hour shifts has been en-
gagged TO put through the raise at as
early date possible 1t is claimed
that the connection can be made with
less than thirty FIVE rounds OF holes
" hle the raise is beng made, another
crew of men has been pai to work on the
breast of the lateral and it will be CON
tinued to the end lines of the Saratoga
property, .where later another connection
will be made with the mine workings
above.
The driving of the lateral from the
Newhouse tunnel has opened up dozen
ore shoots and some Of the mineral re-
turned values of 45 ounces in gold or
any place in the lateral would interfere
with driving ahead, no attempt at ore
extraction has been made until the raise
stope was started some three months ago.
All OF the smelling ore IN the Saratoga
mine carries good per centage of cooper
and II is a product greatly desired at
the smelteEs on account of its fiuxlng
| character.
The ore production of the Saratoga
mines Is vaIiously estimated at from
s. ooo, 900 to 5000, 600, and il is likely
that the latter figure is more nearly
correct. 1t is without doubt one Of the
lest veins III the richest square mile on
earth" and Is one OF the largest, stong-
est mother assure veins in this section
of Colorado. The average value of the
product runs from an ouuce to two
ounces IN gold per ton, and while large
| Quantities OF the ore have been tested by
the various methods of amalgamatiou
and concentration, 1t cannot be said
that either of these methods made "A
close enough saving Of the values to over
come the extremely modest smelling
charges allowed for the material at the
| smeters.
| The capital stock Of the new company
will be divided into three blocks. Five
| thousand shares will be used for the pur
chase of the mines, two thousand shares
for working capital as treasury shares,
and three thousand shares will be used to
take up the capital stock of the Saratoga
Development company, and to acquire
additional property, tramwavs, mills or
smelling works as provided by the
charter.
The incorporators of the company are
John Owen, Ben. 7. Owen, and F +.
Regennitter, but the permanent officers
will be as follows: President and Gem
eral Manager, John Owen, Idaho Springs:
vice president, Z A. Whitfield, New
York City; secretary-treasurer, H. T,
Rodgers, New YORK City. The board of
OF directors will consist of the above
named and +. I. Bragaw, J. W. Pickett,
Jr, I. l.. Bieakley and Geo. l. Thomp-
son, prominent New York City fnan-
| ciers, who are interested in the present
Saratoga development company.