The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1909-04-18
MORE GOLD IN
FROM CHAFEY
While Maintaining Fine Output,
Chafey Mines Are Making
Ready for Big Things.

with a eold-silver brick Weighing Ihlf-
t,--one pounds and valued at apr oAllilate
" $500 II. 6 CASTER -
treasurer OF the Chafey Mines company
and manager of its properties az ChaIesi
New. came in from camp yesterday morn
ing The bullion was the pfoouct ga w
LITTLE mills run at the property rum -
9TH to the 18th % the present iHOH'''
without the concentrates.
Things are looking good at Inc prop
erty" said Manager OaSuer. We dIe
now handling ore in the mn tiiaI - ave-
aging $40 a ton, while we nave opened
into a new shoot Of ore that is sampllhs
500 per ton and averaging four rect tiiiCh'
We have gone into this shoot Tor us
lance Of thirty-five feet now and Inefe ls
nothing to indicate when We Shdu reach
its limits Some Of the boys thought We
ought to ship this ore without mining II
il is Of such a milling character nov
ever. thai practically every cent OF Us
value can be extracted II the mlli anu
for that reason, Il no other, il VIII not be
shipped crude. ] don't see anything il
paving freight. wagon HAUL Stamping
charges ana smelling costs on ore tnat
we can extract the values from on the
ground and have freight to pay on MOTH
ing but the bullion and the small amount
of concentrates that would accrue, so We
shall hold the rock ard mill il, just as We
would the so or $40 rock.
The chief officials OF the Chafey Mines
company were busy during the day nego-
tiating for a twenty stamp milling plant
that is to be installed Just as soon as II
Is possible to have the machinery ana
equipment delivered at camp Everything
about this new mill is to be right up to
the minute and when il is in operation
within ninety days from now. ii will be
possible To handle 100 tons of ore a day
without effort. on $40 rock that means
an output OF approximately 1900 day.
Or S1z00o0 a month. and every effort =
going to be made 20 have the ore derel-
upment well in advance of the required
tonnage BY the time it is needed.
A short time ago il was announced that
z W Kelly and John @ Critchlow had
taken an option on 50.000 shares Of the
rOnpany's treasury stock, with a tents-
live call on the remainder Of the 10000
shares. Mr.. Critchlow, who came down
FROM Ogden yesterday. stated that VIII
lard F. SNYDER had taken 5000 shares and
that the remaining 10000 shares had been
disposed Of to other parties. In addition
to that. Air. CritchlOW declared that every
share that the company was willing TO
dispose of was practically underwritten.
and that he expected, within another ten
DAYS. to he q bic to say that the whole
Transaction had been closed.
This big stock deal is going 10 place at
the disposal of the Chafey Mines com
oany more than 100000 OF clean cash. 50
that the mill building. the installation Of
the tramway, heavier machinery for the
Tory can all be accomplished without en-
croaching on the earnings of the COM
panN in the least. In other words. the
Chafey Mines company is now completely
financed and. with the world of fine ores
that are being opened up. the corpora
ton viii not be long in reaching q sub
stantial and lasting dividend basis.