The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-03-12
TEN-STRIKE BY
SALT LAKE BOY
Completes a Deal at GoIdfieId
That Is Expected to Make
Him Wealthy.

Goldfield, New, March 10.-Ralph E.
Waterman of Salt Lake has bought the
interest of r. L. CoIburn in the Red
Top Extension Leasing company, and
rounded out plans on which he has
been working for a year, and which
practically assures him a fortune. A
block Of the treasury stock has been
sold TO the Mohawk Red Top Leasing
company. of which Harry Mcmillan
and George B. HallOran,s who made a
sensational record In the Mohawk
Jumbo, are the presiding geniuses, and
$4,000 is available for development
purposes.
The Red Top Extension Leasing
company has leased the Bull Dog
Fraction claim of the Rep Top Extern
sion Mining company, a fractional
piece of ground of about six acres,
which is entirely surrounded by the
Mohawk, Jumbo, Red Top and Laguna
claims of the Consolidated Mines COM
pany, right in the heart of the richest
mineralized area of Goldfeld. The
Mohawk-Rep Top Leasing cimpany
has lease on the south end of the
Miss Jessie claim of the Laguna, and it
is only about fifteen feet from their
shaft to the Red Top Extension side
line. The shaft of the Mohawk-Red
Top has reached the immense vein of
the Red Top, the largest body of ore
in the district, at a depth of 400 feet,
and has encountered ore of a good
value. By the arrangement between
the two leasing companies a cross-cut
VIII be run from station to be cut at
the 450-fOOt level into the Red Top Ex-
tension. This crOSS-cut will cut two
known ore shoots in the vein, the north
shoot before the line is reached and
the south shoot within the boundaries
of the Red Top Extension. In the south
ore shoot nine feet of ore in the Red
Top averages $3.50 ton. There is also
an enormous tonnage throughout the
vein of milling ore, ranging in value.
from $l5 to $25 ton, which can be
handled to good advantage.
The Red Top Extension Leasing
company has eighteen months from the
time the line is crossed and their
ground entered to mine the ores. The
company has a shaft down 30 feet,
equipped with a good hoist, and as soon
as a point under the shaft is reached
an upraise will be made, thus conf
pleting the shaft and giving two out
lets tor the ore. The equipment of the
Mohawk-Red Top is not excelled any,
where in the district, by either mine or
lease. 1t consists of a seventy-ffv~
horsepower double drum electric hoist
and compressor plant Just installed,
which will furnish air for the pumps
and sixteen machine drills. The shaft
is two-compartment, and will be con-
tinued on to the foot wall of the vein
as soon as station has been cut.
The Red Top vein is 40 feet be-
tween walls, and has developed two
bonanza shoots of ore in the mine. The
ground has been proved on all sides of
the two leases, which cover the most
coveted area in the district. promising
to eclipse even the famous Mohawk
leases in the tonnage. The Mohawk
Red Top lease, with the workings now
in the vein, has nine months to run,
and the Red Top Extension Leasing
company eighteen months, while the
Hays Monnette lease made its big pro-
duction in less than seven months.
Ralph Waterman is secretary and
treasurer of the Red Top Extension
Leasing company, and by far the larg-
est stakeholder. This has been his pet
project. and spells success