The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-02-25
GREAT STRIKE
IN COLORADO
TintiC'S Big Bonanza Gets Ore
in New Shaft Workings
in North End.
PROVES ORE FOR 1000 FEET
MINE WILL SHIP IF SHELTER
ACCEPTS ORE.
PROVES ORE FOR 1000 FEET

The sensationally rich ore-bearing f1s-
sure that has made the Colorado COM
pany's property the wonder of the Tin
tic district has been opened in the new
operating shaft on the Beck Tunnel or
north end of the property and the same
character of high-grade ore that has
marked the development of the main
shaft more than 1 900 feet to the south
has been exposed. The stock indicated
that something was up. for the price
jumped nearly 20 cents a share over the
high mark of Friday last.
Jesse Knight, president of the COM
pany, happened to be in the city, and
he was asked if it was true, as reported,
that the new shaft had got the ore He
said it was; that it was tapped three or
four days ago, and that the ore was
high grade. Mr.. knight has not been
to camp to inspect the strike, but the
finding of the ore there leads him to be-
lieve that the shoot will be continuous
for the entire distance between the two
shafts, and maybe more than that.
Much the same experience was had
in opening up the ore in this shaft that
the management had in proving up the
ground in the shaft through which all
the mining to date has been done. The
new shaft was sunk 800 feet without
encountering the ledge and a cross-cut
or two has been made from it. While
Mr.. Knight says he is not absolutely
certain just how the assure was opened
whether from a cross-cut on the 300
level orabove that point-he is inclined
to think it was in a raise from the bot
tom drift. At any rate the ore has
been struck 260 feet below the surface
and in raise from a cross-cut drift
from the shaft. In what direction or on
which level matters little
From the first shaft the ore bodies
have been proved up in northerly d.
reetion toward the new one for a dis
lance of more than 400 feet and the find
ing of the same ore In the new shaft
workings leaves little room to doubt
that the entire 600 feet toward the de-
veloped ore body VIII show the ore.
From the new shaft to the northerly
end lines of Colorado territory the dis
lance is between 300 and 400 feet, and
the probabilities are that the ore body
will reach that far and over into the
Beck Tunnel company's ground.
1t is known, of course, that the ore
body extends southerly from the orig
inal shaft and that it has decided in
cIination to reach cut into Crown Point
territory, That is the reason why the
Colorado and Iron Blossom companies
Joined with the Crown Point in sinking
a shaft near the southeastern extremity
of Colorado ground and close to Crown
Point lines 1t was felt that if the Col
orado assure would go over into the
Crown Point, 1t would also cut Iron
Blossom ground in its trend to the
south, and there seems to be reason to
expect that that is just what it will do
At any rate. the Colorado is now in
shape to mine from this remarkably rich
ore body from two points, over 1000
feet apart, and Mr.. Knight says that II
the United States company arranges to
run its smelter and gives him the
chance, he will resume shipments I'M
til his own smelter is completed. Oper-
ating through one shaft, the company
had no trouble to pay 100000 in divi-
dends last year. And, if the markets
work right and things move as they
now seem likely to do, 1t will not be
long till the company is earning and
paying 100000 to s25O,O0O per month.