Bisbee daily review., 1908-08-07
TIE ARIZONA
 COMMERCIAL
 BOND ISSUE
Nearly Half Million Assured From Sale Will Be Used To Build Shelter and Make Im- provements at the Mine.

Owing to the demand for underwrit- ing of the S500,000 Arizona Commer eial 6 per cent convertible bonds, al lotments have been cut down to but 30 per cent of the subscriptions IL Is expected that stockholders will take practically the entire issue. As the company is now assured of $475, ,000 from the sale of these bonds, plans are already being drawn for the building of a smelter with an initial capacity of 300 tons and a site has been practically decided upon. Pre- yious to deciding upon the build ing of a smelter an expert examina- ton of the property was secured. In submirting this report to the eastern infringement General Manager Bonnie says:
 Personally I nave never seen vein or shute of ore that looked better for fine high-grade ores at depths. Judg- ing from the depth of the oxidized zone the area of secondary enrich- ment should be great
 The report, which is confined to the Black Hawk group, describes the prop eIty and developments to date. We condense as follows: Two shafts have been sunk to develop the vein
  Black Hawk shaft has reached a depth of. .560 feet on the incline or about 800 feet vertically. It was started on the outcrop of the vein. but at a sleeper angle than the vein, thus throwing it farther into the foot wall as depth was gained. At every hundred feet a crosscut was driven to prospect the vein. On the first three levels the vein was opened by drifts for about 135 feet. In each case the vein was strong, running high in iron but low in copper. Should the company build it's own smelter this vein matter might become valuable as Aux.
 On the 4GO-foot level the vein wid- ems very materially. showing strong vein matter for width of 45 feet, with an additional 40 feet carrying acme vein matter The copper values on this level are also higher. In the drift driven 90 feet east of the shan crosscut, the vein carries from 2 per cent to per cent copper and an ounce of silvec.
 In drifting east on vem at the 50d- foot level higher copper values were encountered than on the 4O0-foot lev el winze was sunk below the level, and with the increasing depth, better copper and silver values were found. At about 50 feet the permanent water level was reached and sinking was discontinued until pumping facilities could be arranged. A stope was opened in this winze and also one for 25 feet above the 500-foot level
 During the last five months 4300 tons have been shipped to the smelt- CTS from these two stopes, giving an .E 4 c ont VssaTs and 2.3 ounces of silver.
 The lower grade ore is coming rom the stopes above the 500-foot level, while car load lots from the bottom of the winze ran from 10 per cent cop per and four ounces silver. The ore as taken out of the two stopes aver aged 20 feet wide. This ore Was was classed as oxide, the copper oc- curing chiefly as malachite. but near the water level some high grade sui phides are found, indicating that the suIphide zone is but a short distance below the water level In driving west from the shaft erosscut on the 5OO-foot level the foot wall of the vein has been followed after the first 100 feet. The vein matter in this drift is very similar to that of the 40O-IeyeI east. There was no chance for crosscutting the vein here with out interfering with the plan for de yelopment.
 This 500-foct level has opened thu Black Hawk vein for 500 feet, showinl it continuous without a break, anC mineralized the entire distance. Fron the enrichment in depth as shown D, the winze below this level, there l every. reason to expect rich ore bodie will be opened below the water leve
 The Eureka shaft is a vertical three commandment shaft located about SO feet west of the Black Hawk silai If was started we'll over in the hangin and will cut the vein at about D feet At present it's depth is 53S fee hut as soon as the connection Wit Black Hawk 50O-fOot level has bee made. a station pump installed slnl ing will again be continued.
 No cross cuts were driven from th shaft to cut the vein until the 5eO-toc level of the Black Hawk was reacne The plant at the Eureka has been lal ont with the idea of per-nanency an economy of operation It would seel