Weekly journal-miner., 1909-03-31
SELL GIBSON MINE
 FOLLOWING BIG STRIKE

GLOBE, March Swallowing close upon the announcement of an impOr- tant strike of high grade ore in the Gibson mine, came a telegram from s. l.. Gibson dated at Boston yester
 day, stating that he mad closed the deal for the sale of the Gibson proper tv to a syndicate of capitalists with whom negotiations were had several months ago.
 It was in November last that par ty of oBston capitalists and mining men visited Globe and spent several days at the Gibson camp, making careful examination of the property of the Gibson Copper Company. Appar- ently the inspection was satisfactory, and the deal was about to be closed when hitch occurred over the terms of the sale; negotiations were abrupt ly broken off and the Boston men de- parted for the east.
 About month ago S. L. Gibson who with William (Tip) Henderson, owns over 99 per cent of the stock of the Gibson Copper Company, went east with the view of either financing or disposing of the property, and arriving in Boston re-opened negotiations with the parties wno visited the property four months ago. The price agreed upon at that time was $65O,OOO, of which $125,OOO was to have been paid when the papers were signed; and it. was over the date of the second pay ment that the disagreement occurred. While the terms of the deal closed yes terday in Boston are not definitely known here, the value placed on the property is believed to be not material ly different from that agreed upon in the previous deal. However, it is prob able that in the negotiations concluded yesterday, it is provided that Messrs. Gibson and Henderson shall retain an interest in the property.
 The Gibson mine gained the reputa- tion locally of producing the richest sulphide ore mined in he district and is also remarkable in that it was a profitable producer of copper practical ly from the grass roots to a depth of 400 feet, and up to year and half ago had netted the fortunate owners several hundred thousand dollars.
 At about that time the rich ore shoots above the 400 foot level showed signs of exhaustion and since then the owners have been engaged in opening the mine to a greater depth. While there was an abundance of low grade | ore, going to per cent copper, in the mine and on the dump, the search | for high grade ore in the deeper work | ings was not successful until a few | days ago, when ore equally as rich as that mined above was struck in a | winze below the 40O-fOot level. This | ore is chalcopyrite assaying from about D to 8 per cent copper. Yesterday | the winze had penetrated the ore body about fifteen feet and whicn was ap- parently about five feet wide. The strike was made in new territory, about | 800 feet from the new working shaft. The full extent of the ore body cannot | be determined until opened on the | 5OO-foot level. and the drift on that ! level will have to be driven over 200 feet farther to reach the point where connection can be made with the winze in which the strike of rich ore has been made.
 The news of the ore strike and sale of the Gibson mine, coming almost i simultaneously, has aroused great in terest locally, and there is rejoicing among the friends of the fortunate owners of the property. It will also attract attention anew to that imme diate section of the Globe mining dis triet comprising the Mineral creek and Pinto creek divide and the territory adjacent thereto, and marked revival of prospecting and development work may be confidently expected there. TURQUOISE STONES ARE