Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-10-22
REVIVAL At THE
GOLD BUTTE Mine
Officials Of Company Getting
Ready to Perform Develop
ment Work Again.
CIRCULAR TO sHAREHO DERs.
Property Closed When Financial Pan
ic Arrivcd-Stock Donated
To Treasury.

Arrangement are being perfected TO
resume work again on the property of
the Nevada Gold Butte Mines COM.
rany, located in the Gold Butte dis
trict In southeastern Nevada. Like
many other mining concerns which had
not been financed sufficiently TO wealth
er the storm, the management found 1t
necessary to cease operations entirely
and await a more opportune time to
make campaign for funds to carry
the plans that had been outlined INTO
execution.
"A circular issued to shareholders to-
day contains the information that the
property Is entirely out of debt, but
that II Is necessary to give attention
to the matter of performing this years
assessment work A statement is then
made relative to the extent of the en-
plcia.ions already made
after considerable work was done IN
sur'ace exploration the management
started "a cross-cut tunnel for the pur-
pose of proving up the series OF veins
showing on the surface, This tunnel
Il now in a distance OF 446h feet, ana
there Is little doubt but that 200 feet
more will take the workings into an
ore body. In its course the tunnel VIII
cut ut right angles, and al Varled
depths of several hundred feet. the
Lone Star Nos. and veins, ana the
Mother Lode and Saddle veins, all or
which have promising surface show
ings Besides this, 1t will encounter the
mother lodt vein Mt the conveyance OF
two well defined cross veins, where
acct riding to all mining experience, an
ore body should make. Assays as high
as $aS3 have been taken from surface
ores, while numerous tests have shown
i o = n Il IA =
( the performance of annual assessment
work 1t Is the intention of the board
Of directors to conf1ne operations TO the
further advancement of the tunnel witn
the hope, IL not the expectation, that
when the annual assessment Is COM
pietcd this fall, some interesting DIS
closures Will have been made.
At the mine the company has, care
fully stored, machinery. tools and sup
plies Of value ranging from 81, so to
$1,000, including gasoline engine and
blower, car and rails, powder, fuse and
caps, steel forge and tools, tents,
range, cooking utensils, ETC., besides a
small quantity of, gasoline, and these
will be utilized when development
work is resumed.
.',rho late financial panic has been
felt as keenly by the Gold Butte cons
pany as it has been by others. a mum
Der of the largest holders of Gold Eutte;
STOCK, VINO OLNeTWlSea Gouiu ilktSt 5luSSti
depended upon to advance money 70
the company il necessary have felt
financial embarrassment to such an
extent that it was thought unwise by
the directors. at the present time, to
even levy a small assessment; but, "a
something must be done, and that
quickly in orde to save the property
for the company, a meeting was held
on the 18Th inst, at which the incor-
porators and the heaviest holders Of
Gold Butte stock, agreed to a PROPOSE
ton donating 90 per cent of their hold
ings, amounting to 100000 shares, to
the treasury of the company, t2 be
used for the purpose of performing the
annual assessment work for this year,
and TO still further increase the treas
,lry stock. This donation was cheerful
" made by the original incoruora-
tors of the company, and for the rea-
son that they have unbounded faith
in the value and merit of its property
and are anxious for its still further
development and exploitation
The camp of Gold Butte Is within
90 miles of the Colorado river and
about the same distance from st,
Thomas.