Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-10-10
KING EDWARD
IS PROMISING.
Utah Shareholders May Now
Take ON New Hope Of Win
ming Out In Canada.
SILVER ORE ENCOUNTERED.
SILVER ORE ENCOUNTERED.
Clarence McCornick One Of The Big
stocIil,oldcrs-.Ncw Conccn-
lratins Mill.

Considerable local money was invest
ed about a year and a half ago In
stock OF the King Edward Mining com
pa,lN at Cobalt. ontario, Samuel New
house being at the head of the organ
izaiion at that time. Hence the fol-
lowing from q Cobalt correspondent Is
not lacking of interest to Utah share
holders:
THE King Edward is the holding
company benefited by the latest de-
vulopments ut Cobalt. This company
owns the King Cobalt lot and 100000
shares in the Watts company which
owns the Watts lot, adjoining the King
Cobalt. w. p. Ward of New York and
Messrs. Mccormick. Brevoort, Whitney
and R2ayborg control the property.
The King Edward company was cap
italizcd at $6.Co000O divided into 1900
COO shares having a par value of IS.
This Capitalization had no justification
at that time. However 100000 shares
have since been put back in the treas
ury and will be used TO acquire other
properties.
The company's income is derived
entirely from the watts property The
King Edward properties, lie on the
shore of Cross Lake back of the Violet,
O'Brien and Colonial. This Cross Lake
section of Cobalt camp Is no longer dis
credited. The Violet and Colonial are
adjoining properties an which surface
finds We're made early in the history of
the camp. Very little development has
been done on the Violet but a large
amount of money, has been expended on
the Colonial. Mlsdirected efforts for
a long time resulted in nothing but ap-
parent failure but this property has
now made coed.
The Watts and King Cobalt lie on
the shore of Cross Lake and rising
abruptly from the lake is big diabase
mountain which has Gaping of I<ee-
watin. This mountain has been deyel-
oped by q tunnel driven straight into
it for I20 feet and nine veins have been
tapped by 1t, which run at right
angles to the tunnel
"A Dig find was made in vein No. 4
last week at a depth of 100 feet from
the surface IN the intermediate level.
Your correspondent saw some of the
best silver ore here his eyes ever beheld
IA vein of silver mixed with calcite-
ore that would carry at least 10000
ounces of silver to the ton. Stringers
run in all directions from the main
vein of metallic silver. The diahase
with silver.
Blocks Of rock, weighing from 80 to
so pounds, were broken down from the
roof. After being loosened with pick,
these would swing suspended on hinges
of silver The roof locked as If call
somined With silver. Then in places
the formation was nothing but layers
of rock and silver alternating. These
seams of rock would be Il inch to IL
inches apart,
Watts ore is practically free from
Cobalt or other by Notwithstanding
but calcite and silver Occasional
spots Of Cobalt are found and the wall
silver.
out OF the 500 tons shipped to date
five cars or about $50 tons are OF the
rich high grade ore. The veins run
east and west and the main vein has
been traced to the King Cobalt and
Superintendent McCaskel has started
shaft on King Cobalt TO test the val
ues Of the vein at that depth and that
hitherto despised 40 acres may make
good. The consulting engineer at the
King Edward is the former superinten-
dent George NcCaskell, who is now
developing the Colonial and this prop
erty is likely to make good as we'll as
King Edward. The King Edward will
have one of the best concentrating
planst in the camp.
There are now on the Watts dump
screenings that Will average 100 ounces
of silver to the ton and arc valued at
100000. These values are guaranteed
by Mr.. McCaskell as he had daily as
says made while the dump was accu
nulatlng Then there Is another big
dump that has been subjected to test
treatment at the Cobalt customs con-
centrator and showed 65 ounces of sill
Yer TO ton"