Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1908-01-05
OPTION EXTENDED
On The GOLINSKY

the Selby Smelling and Refining Com
pany, subsidiary corporation. has
secured a renewal of their option on
the Golinsky copper mines near Ken
nete, says the Mining Record. Under
the terms of this, option the Guggen-
helms are bound to continue extern
sive development work. The Selby
company has paid approximately
$4,000 for the option, which runs
for a year The financial stringency
prevented the Guggenheims from
buying the property outright, as re-
cent developments have conclusively
demonstrated the value of the Co.
linsky mines. Under the old bond
much rich copper was taken out and
an electrical railroad mile long CON
structed to facilitate shipment.
A majority of the stockholders of
the Balaklala Consolidated Copper
Company have agreed to the plan of
reorganization thorugh a syndicate,
which means an assessment of 50 a
share. By this means $1,05O,0OO
will be raised and the company plac-
ed on firm financial basis. The pro-
posal to unite the Balaklala and Trim
ity companies is also regarded favor
ably, as the mammoth smelter at
Coram will be able to handle ore
from both properties for an indefinite
period. The properties involved are
located near each other
The Annie mine has been purchas-
ed by Joseph Jaegel, who will pro-
coed to operate it on a large scale.
Some promising ore has been found
in the upper levels and the owner
expects to have one of the most prof
liable producers in the Saltwater dis
trict. The collaborating veins con-
tain good values and are of fair
size
The Sacramento & Eastern railroad
has been completed to Heroult, and
freight for the electric smelter is be-
ing shipped over the new line, which
will enable active work to be profit
ably carried on in the magnetic ore
regions, contiguous to Heroult. and
will also enable the Bully Hill COM
pany to ship it's ore and matte to the
market at fair rates. The Sacrament
to & Eastern traverses a region rich
in gold, silver and copper, and brings
rapidly growing section in close
touch with the outside world. The
railroad was projected and practical
~ constructed by Shasta county min
ing men, who had wearied of the ex-
orbitant freight rates charged by the
mule teams, which furnished the only
practical means of transportation
The Bully Hill smelter at Deamar
is rapidly nearing completion, aud it
is thought that the plant will be
ready to commence treating ore about
the first of next May. In the Bully
Hill mine much copper ore has been
blocked out and the property has
been proven to a greater depth than
any other copper mine in Shasta
county. Development in the lower
levels demonstrates that the ore bod
les lose nothing in size or value with
depth below the lowest working level.
The working of several small quartz
mines in the district insures a supply
of silicious ore for the smelter, which
| the coast.
| Considerable work is going on at
the Mountain Copper Company
mines in the Keswick district, the
ore being shipped to the Martinez
plant. At the Keswick smelter all
work has been suspended and the
men discharged. The foundry is be-
ing operated on work for the Mar
tinez plant and on custom work for
at the mines are largely confined to
development work and large guam
tity of ore has been blocked out I'M
til such time as the Keswick plant
will be in a condition to resume ac-
tive operations.
| In the Lower Springs district ac-
tive operations continue, and the
Crown Deep, White Oak, Mt. Pleas
ant, Milton and other properties are
looking we'll. The financial strin-
gency has had little effect on opera
lions in this section as an available
market is assured.
The new mill at the Golden Jubi-
lee mine at Carrville has been COM
pleted and the property is in shape
for production The lower tunnel
has exposed an ore body, and every
thing indicates a season of progress