The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-10-09

repeated assertion that the Lake is but
assure. There have been more
knockers, if the expression may be
used here on the Lake than a few.
Most of them are of the old school
who have remembrances of Ontonagon
county failures and who cannot under
stand why ii is possible to locate a
well defined, permanent value copper
vein in territory upon which millions
have already been expended i'm unsuc-
cessful effort to get copper results
They have predicted failure from the
start and are now quite unable to UNI
derstand why they didn't run out of
the copper values at depth. Many of
these original knockers have visited
the property and have changed their
conversation thereat. The fact re-
mains that the openings i'm this Lake
shaft show as good an exhibit of virgin
copper ground as has ever been opened
in any Lake Superior property. Now
that the continuity OF the formation
has been demonstrated TO a depth of
$50 feet and the openings on either
side of the shaft have been i'm copper
showing a lode at least so feet wide,
with copper values in at least twenty
feet, there can no longer be any doubt
at all about the future of the Lake.
Now the management ought to rush
the work of getting this shaft in readi-
ness for production and i'm sinking an
other shaft for production. Competent
engineers, estimate that the copper
rock taken out i'm sinking the shaft
and extending the drifts will more than
pay for the entire outlay at the Lake
so far. This is all stockpiled and
ready for shipment at any time. Yes,
we are all enthusiastic about the APP
parent success of the Lake. People
here in Houghton believe that it is the
beginning of another series of great
mines at the extreme south range,
properties which may eventually be-
come as important contributors to the
production of copper as the Champion,
Baltic or Trimountain." -.
The claim that the price of Lake
stock is high enough, based upon the
extent of the openings, may be true.
but the future possibilities of the Lake
property are such that 1t is quite i'm
and it must be remembered that the
capitalization of this company is small
and the stock on the market is very
limited.
Indiana and North Lake
The interest i'm the Lake property
has called attention anew to the prop
critics adjoining. the Indiana and North
and South Lake (the latter formerly
known as the Astec). We are inclined
to greater faith and quicker results in
the Indiana than i'm the others. Both
drills are i'm lodges and both should
now make rapid progress. Number
drill hole should cut the formation
through to the eastern sand stone and
the second drill will overlap this work.
The prospectors at North Lake located
am outcropping last week. This is a
short distance from the railway track
and the next drill hole will be put down
i'm this formation, thus avoiding the
heavy overburden which has hereto
fore caused so much trouble and de-
Law with the work at the North Lake
r. M. Edwards expresses the opinion
that the Lake lode lies nearer the two
parallel conglomerates than supposed
and IT is possible that the big vein cut
in the third drill hole may prove to be
the lode on the Indiana No. l drill
struck the ledge at depth of 222 feet
and No 2 at depth of 1874 feet.
keweenaw-
There was some activity In kewee-
nav stock In the market. owing to the
fact that the drills had disclosed the
Osceola lode. However. this Informal
ton is of no particular Importance TO