Los Angeles herald., 1907-02-25
VALUES ADVANCE
IN SILVER PICK
Property Adjoins Celebrated Mohawk
Mine and Other Valuable Hold
ings-Active Work in
Progress

A lot of Southern California people
will feel joyful over a discovery just
made in the Silver Pick property, Gold
field. This discovery consists of big
vein loaded with moscosite, an iron sui
phide brimful of significance, for the
mineralogical agencies that bring about
the growth of this sulphide also put
into place gold, tellurium, etc, as found
in the principal mines of the Goldfield
district, mines that are really record
breakers for production. time and
amount of development considered.
This discovery of moscosite, with the
generally satisfactory result attending
the work on the Silver Pick. vastly
strengthens the faith of the folks who
have all along contended that with ade-
quate development that property would
prove a worthy next door neighbor to
the marvellous Mohawk, the mine from
which nearly $5,000000 was taken out
by leasing concerns during the last
eight months of 1906.
Silver Pick Is Lucky
The Silver Pick adjoins the Mohawk
on the west, the Goldfield mining prop
erty in which the noted January
Jones" lead was exploited, on the east
and the Combination, also a phenome-
nal producer on the north. 1t is thus
practically surrounded by properties
that have furnished the major part
of the foundation of Goldfields fame,
and is looked upon as the next holding
to loom up with wonderful producing
capacity. the conclusion being inevit-
able that it is traversed by some of the
rich ledges found in the other proper
ties.
The chief work on the Silver Pick
is being conducted by the ,Goldfield
Silver Pick Leasing syndicate, largely
controlled in Los Angeles, The syndi-
cate has it's main shaft down about
200 feet at which level two crosscuts
are being run, one to the east to tap
the ledges found in the Mohawk and
one to the west to intersect the "Janu-
ary Jones" lead. These crosscuts are
expected to open up big, rich ore bodies
that will at once place Silver Pick in
the front rank of Goldfeld properties.
In the meanwhile the shaft is being
sent down. The richest values were
found in the Mohawk between the 200
foot and 275-foot levels, the latter be-
ing the greatest depth to which that
property has been developed. For quite
a while the syndicate has had shipping
ore. However, it has not been thought
advisable to exploit the ore bodies thus
far encountered, but to go on with the
exploring work, open up the richer
veins below and then extract and ship
the ore on a large scale. and conse-
quently at lower rate of expense.
Quick Results Expected
Most of the stock of the Goldfield
Silver Pick leasing syndicate is held
In Los Angeles and vicinity and 1t is
held pretty firmly, the owners having
in mind the fabulous results that ac-
crued to the operators on the Mohawk
The chief operator on the Mohawk was
the Hayes-Monnette partnership, which
is understood to have cleared 81, SOC, 900
in less than year; the next was the
Frances Mohawk company, the stock
of which increased 500 per cent in mar
ket value in about six months. the
company having already paid In divi-
dends 20 per cent more than the
original price o! the stock and having
about $1.50O000 worth OF ore on hand,
resource which will be used to pay
the very generous dividend of 40 cents
per share per year formally announced
recently by the company's directors.
The management Of the syndicate ex-
pect to equal, II not surpass, tho
Frances Mohawk.