The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1908-03-14

mills in Montana, and has many
interests throughout the North
IN addition to those mentioned.
:, several years the properties under
K,ng's control produced more than
-, the gold output of Montana, and
"a considered one Of the most emf
=, authorities on gold mining in the
49,. He is Speaker of the House i'm
=. Montana Legislature and forme
-..,dant of the Montana Society of
,,,,,ng Engineers. A little over four
uo,,bs ago Kings attention was
called to Rawhide by c. G. Walker. a
,,oreer Of the camp, and he came down
from Montana and paid a visit to the
new district. After a few days inspec-
,,on of the camp and it's properties, he
,orrbt some stock in the Ruby Silver
Mining Company. which was operating
lease on the Balloon claim, now
o.ned by the Rawhide Queen Mines
company. He learned that ]. II. Barrett
md d V. Snowgoose had a bond on all
., balloon Hill and that they had re-
bonded II to Hinckley & Harris of Reno
for $50. 900. He then came to Reno and
boueht a nine-tenths interest in the
bond from Hinckley & Harris. and when
the payments came due he made them
and organized h Rawhide Queen
Mines Company. Four well defined
lodges nave been opened up on the
Rawhide Queen estate. and all of these
have been traced into the property of
the Rawhide Balloon Hill Mining Com
many. which adjoins the Rawhide Queen
on the north and east. There are
twenty-one working leases on the es-
tate of the Rawhide Queen Mines Com
pany. The first one to become a bo-
nanza was the Kearns Lease No. /.
situated on the Balloon claim. on the
west slope of Balloon Hill, with two
additional blocks on the same claim,
the lease holdings having been incor-
porated under the name of the Original
Rawhide Mining Company. with a cap
italization of 1000 900 shares of a par
value of 81 each. A general sample
taken last Sunday across three feet in
the bottom of the 125-foot shaft as
saved s44O a ton. about one-third of
the values being in silver. On the so
foot level the ledge has been crosscut
from wall to wall, disclosing forty-fve
feet of ore ~assaying $55 a ton. and
drifts run on the ledge for 100 feet
each way, show the values to be
informally about the same for the en-
tire distance, making it one of the
biggest high-grade milling propositions
in the State. The new shaft is down
about thirty feet. the foundations for
the hoist have been completed, and the
machinery is being placed in position.
Under the terms of this lease. the
leasing ompany is required to sink
at least forty feet per month until a
depth of 500 feet is attained. The
large percentage of silver in the ore
in this lease is an Indication that the
values extend to depth. Kearns Lease
No. 2 includes one block Of ground on
the Balloon claim 800 feet square and
a considerably larger block on the Bal
loon Fraction. This lease has been in
corporated under the name of the
Kearns No. 2 Gold Mining Company.
with a capitalization of 100000 shares
of a par value of 81 each. A block of
the treasury stock was placed on the
market a few days ago and over half
of it was Immediately taken in Raw
hide at 81. 1t is doubtful whether any
more of this stock can be had at less
than par. At the present writing this
lease is the sensation at the camp.
A general sample across two feet ten
inches Of the big ledge opened up
on the 65-foot level was taken last
Saturday and 1t assayed 5000 a ton.
The ledge has been crosscut "a feet
on this level without en%countering the
hanging wall, and the entire ore body
samples close to $50 a ton. Assays OF
from 500 to 5000 throughout this i'm
mense ore shoot are frequently Sc
cured. A road is being graded up to
the shaft. and two carloads Of ore Will
be shipped within a few days. This
ore samples about $3.50 a ton. n II