Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-03-14

additional blocks on the same claim
the lease holdings having been incor.
porated under the name of the original
llawhide Mining company, with cap
italzation OF 100000 shares OF n par
value Of 81 EACH A general sample
taken last Sunday across three feet ln
the bottom of the i26-foot SHAFT as
sRyed $40 q ton, about one-thlrd OF
the values being in silver. On the So
foot level the ledge has been crosscui
from wall to wall. disclosing forty-hve
feet of ore assaying $50 a ton, ana
drifts run OH the ledge for 100 feet
each way. show the values to be
uniformly about the same for the en-
tire distance. making II one OF thr
birEcst high-grade milling propositions
i'm the state. The new shaft Is down
about thirty feet. the foundations for
the hoist have been completed, and tho
machinery is being placed in position.
Under the terms of This lease. the
leasing company is required To SINK
at least forty feet per month until
depth Of 500 feet is attained The
large percentage of silver in the orc
in this lease Is an indication that the
values extend to depth. Kearns Lease
No. includes one block OF ground on
the Balloon claim 500 feet square ana
"a considerably larger block on the Sal
loon Fraction This lease has been in
corporated under the name of the
Kearns No. Gold Mining company
with a capitalization of 100000 shares
of par value of Sc each. A block OF
the treasury stock was placed on the
market q few days ago and over half
of 1t was Immediately taken IN Raw
hide at ST. 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 of the camp.
\ 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 $3.50 n ton.
The ledge has been crosscut "a feet
on this level without encountering the
hanging wall, and the entire ore body
samples close to $50 a ton. Assays OF
from 500 to $4,000 throughout this inl-
mense ore shoot are frequently Sc
cured. A road is being graded up to
the shaft. and two carloads of orc will
be shipped within a few days. This
ore samples about $3.50 n ton. and it
| is the intention to ship at least three
carloads q week of this grade of ore
hereafter The leasing company has
just started a. tunnel through Balloon
| Hill from one block to the other, and
| double shifts of miners are now en-
| ployed on each end OF the tunnel.
| 25-horsepower hoist has been ordered
| ana will be on the ground within few
! days. The Kinlaid lease, which ad-
| joins the Kearns No. l on the south.
| IrS lpStil iil1 liiilie
| of the Colorado Balloon Mining com
| pany with a capitalization of 100000
| shares. The working shaft is now
| down nearly 100 feet, and tho entire
shaft for the last SO feet has been in
| milling ore of good grade. The st.
| Ives Leasing company, also ON Queen
| ground which is Incorporated for
| 100000 shares has n lease on the
| block lying between and adjoining the
| 1Soarns leases. Under the terms of the
| lease, the leasing company is requ/ ID
| to sink at least 20 feet per month an
! Ill depth OF 500 feet is attainG.
| large gasoline hoist has seen ordered
and will be ON the ground TSithin a
/ few days The Ogilvie lease, which
| adjons the st. Ives on the south, and
| lies higher up an Balloon Hill, has been
| Incorporated as the Rawhide Ogllvie-
| Reynolds Leasing company, with
| capitalization of 100000 shares. An
| aggressive campaign of development
| has been planned, and a shaft is being
| sunk rapidly, with the intention of
! crosscutting at the 100-foot point Tho
| Grutt Balloon Hin Mining company
| owns a lease adjoining the Kearns No.
| 1 ON the north and the St Ives ON the
| south. Eugene Grutt, the successful
| pioneer operator of the camp Is presi-
4 dent of this company, which is capt.
a tali2ed for 1,000.000 shaTes. Under the
| terms of the lease the leasing COM
| pany is required to do 800 feet OF
| work, either in sinking or drifting,
! during the life Of the lease. The shaft
| is down about fifty feet. and the last
| twenty feet is in ore OF good milling
| grade, Companies are now being
| organized to operate the Bull Pup, Yost
| and Reserve leases on Queen ground.
| The Yost lease, which adjolns the
| Ogilvio- Reynolds lease on the east, has
| n good showing on the surface, and
| Is driving tunnel to tap the ledge
| at depth. The Bull Pup lease is
| situated on the March Rose claim, and
| adjoins the Yost on the east, Stringcrs
| assaying as high as $4,000 have been
found on the surface, and q shaft Il,
| being sunk to cut the vein. The lease
| has one of the very best surface show
| ings on Balloon Hill. The Poke lease
| is also situated on the March Rose
| claim, adjoining the Yost on the cast.
| Two well-detincd veins have been
| opened up on the surface, and both
carry good milling ore. The Nat g.
| Goodwin lease. which adjoins the
| KeaIns No. l and the Ogilvie- Reynoldo
| leases on the east, is now being de-
| Veloped under the personal direction of
j, G.. Flynn, mine manager OF the
hawhide Balloon Hill Mining company.
and good values have already beof'
found in the shaft which was started
last wesk, The shaft Is actually going
down on the ore from the grass-roots.
| The vein that has made the Kearns
No. , the greatest lease in the camp
has been traced across the Ogivie- Ray-
nods lease into tho Nat c. Goodwin.
This vein is the strongest IN the dis
trict. IL il believed to pass through
the Grey Eagle Fraction Into the Mas
cot No. and Mascot, and 10 wind It's
way through the Wild West claim of
tho Rawhde Coalition, Along its course
the bonanza showings OF the camp aID
being made. The Kearns No. l vein
matches with the kteapIiS No. .. II
crosses the Litigator claim of the Bal
loon Hill Mining coInpany, which adj
joins the Queen al right angles insu.
ing an ore shoot on the two properties
of fully 500 feet long. Thomas Kearns.
owner Of the Kearns leases, who was in
Reno last Monday, said; II arrived In
Rawhide from Goldfcld for the first
time about the middle Of last Novem-
Der. After about Eve days investiga-
ton | purchased the Grutt lease on Bal
loon lllll now known as the kearns
lease No. !, paying $4,000 for H. when
1 took charge of the property the shaft
was down only 10 feet from the end OF
the short tunnel, but they had already
exposed % feet of ore thnt aVela ged
better than 1872 ton. with several
strlngcrs OF ore running az high as
81 900 ton. sunk the shaft on a big
body OF ore, all of high milling grlda,
and now. m depth OF IFS feet, we have
al ora