The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-08-31

are now under the disturbance In the
mine, where the dacite formation comes
In. and IL II here that they hope to md
another body Of ore. The mines. In the
upper levels have proved so rich. that
there has been little time given to the
exploration Of the lower depths. Nov.
the principal mines on the hill are work
ing with the end In view. of finding the
ore in the dacite formation Once this
IL done. there will b new life for the
camp. for IL means that there is no limit
to the extent of the ore bodies. The
eight hundred-foot level of the Midway
IN about the lowest depth Of all the
mines on Mount Oddie. for while North
Star IL down to the 1850 level. II Is con-
siderably higher than the Midway
The Midway. besides h large bodies OF
high grade. has an immense tonnage OF
low grade ore blocked out in the min
Az to the treatment Of this. the problem
IL being solved by the Montana Tonopah
| mill. The ores Of the two mines being
almost identical. the Midway people will
| profit by the experience of the Montana
| Tonopah. and possibly erect q mill OF
their own: failing to do which. some ar
rangement may be entered into with the
Montana Tonopah-
Interest In reyiving In the western
part Of the camp. There was some stir
in the early part Of the week over the
report that ore has been encountered In
the Little Tonopah- investigation
| proved that the rumor was not ~altoseth-
er groundiess. for the shaft was in very
rood looking quartz. and stringers were
| encountered which were not without
. value.
The Little Tonopah Is about the deep
est mine In the camp. for the reason
that Il is we'll down in the fiat. and the
shaft IN at a depth of $50 feet. There
are mines on Mount Oddie at greater
depth from the surface. but IT must be
remembered that the collar Of the shafs
Is several hundred feet higher than that
of the Little Tonopah. The latter IL
one Of the first properties in Tonopah to
be worked. and is controlled almost en-
tirely by San Francisco parties. H. M
Roche IL the general manager. and
Major Dockweiler the consulting engf-
neer. Both have determined to sink at
J least one thousand feet, before crosscut-
ting. and they are confident of finding
the ore.
To find ore out on the nat. and SO far
away TO the west. would almost revolu-
tionize this camp. for 1t would give an
impetus to a number Of properties which
have long lain idle. and there seems TO
b. no good reason why pay rock should
not be found there. As a matter of fact
there are mining men in the camp who
have expressed the opinion that a cross
cut at a lesser depth would run into the
ore.
The much talked Of consolidation be-
tween the Golden Anchor and the Mid
way Extension mas been effected. and In
a manner that there is all probability OF
starting up the work on one or both
properties in the early fall. Both these
properties have been in the limelight In
the history of Tonopah. and there nave
been good s~howings, in particular. in the
Golden Anchor. Both properties are
controlled by the Schwab interests. but
both were wanting in the essentials to
perform the required work. to wit
money.
The Golden Anchor had no treasury,
and no treasury stock, and was and Is
considerably in debt, besides. The con.
solidation was effected by increasing the
capital stock to 1000. 900 shares, and
taking over the Midway Extension fol
700, 900 shares Of the new stock. This
leaves 900, 900 shares in the treasury OF
the Consolidated. of which 1t is proposed
to float 10000 at 20 cents a share. Will
this money It is proposed to pay on the
Indebtedness of the company, n start
up the mine.
The stock of the Golden Anchor has
sold in the past as high as 50 a share
from which price it descended to almost
nothing. for the eason that worh
ceased. and that there was no possibility
of any further work being done. The
only way to resume operations has beer
found in the consolidation. and with the
interests that are behind the consolida-
ton, the treasury stock ought to be dis
posed of easily.
The best Informed men in the camp
have but one opinion as to the de-
velopment of the Golden Anchor will
accomplish. They are unanimous in the
conviction that the Golden Anchor has
the continuation of the Midway ledge
which has already been proven in the
Montana Midway Extension. This little
property found a nice body Of ore com
ing out Of the Midway. and was Their
compelled to cease operations for lack
i of funds. The mine is still idle, but
some day Lucky Zeb Kendall will again
get the o and then begin to take
out the ore. In the meantime the work
he has lone has been SUFFICIENT to de-
monstrate the fact to an almost positive
conclusion that Golden Anchor has the
ore. With this once established. there
will be no telling how far to the west
the ore zone will continue. 1t will at.
ford a great field for exploration and
| speculation.