Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-04-15
Secretary of Arizona Property
Explains Details of Work Be-
ing Done by Company.
RAISING THREE MILLIONS.
Company Has Now over 100 Acres Of
Property Lying Along Great
Mineral Bearing Belt

Thompson interests. is being fast
shaped up for O. bis producer General
Manager George L. Gum levos shortly
90 look over the work that is being done
no this property which odloins the
Miami Copper company, eight miles
west Of Globe. Arizona. The stock
began selling on the New York curb
Monday, and today was showing con-
siderable activity according 20 re-
ports from the east.
Work is being pushed ON the vau-
Gus shafts and tunnels on the property
and two core drills are prospecting the
ground On much the same manner as
is being done on the Ray Consolidated
property. Secretary II. f. j. knobloch
has issued "a circular setting out IN de-
tail the condition Of the company ana
its prospects OF future large produc-
sion The letter says:
Tho company ls capitalized at So
600 O00-lO0 900 preferred and sl0o1n
common shares. par value SO an Issued
fun paid and worcestershire. The pre-
ferred shares are convertible at any
time az option Of holder into like num-
bor of common shares and entitled. un-
an conversion. % 6 per cent cumulative
dividends. but have no preference over
common shares in case of LIQUIDATION.
The 5000 shares Of preferred and
4779i2 shares OF common stock are now
under option for t}.E2.12O. 90 be paid
into the treasury OF the Inspiration
Copper company as the shares are pur-
chased under this option.
NO BONDED INDEBTEDNESS.
"The company has no bonded indeht-
CduCss. excepting that some 90 its pro-
perties were purchased subject 20 "a
mortgage securing $4,000 Of bonds
executed by a. former owner
"The report of Henry Crumh, the
company's consulting engineer. made Ia
December last. is then quoted as foi-
lows.
"The genesis on this ore deposit is
similar TO that OF the Utah Copper CONF
pany at Bingham. Utah, the Nevada
Consolidated and the Cumberland Ely.
at Fly. New, and the Ray Consolidated
az Ray Arlz. There are about $500
feet Of development work IN three tun-
uels on the clipper, Caravel and Ameri-
Gus claims. The Clipper tunnel is enc
t.rely in the upper oxidizsd zone. Con-
siderable carbonate copper ore is axe
posed bon this tunnel and is said 20 aver
uge 2is per cent % per cent copper
THE Woois1n tunnel Is IS feet lower
shan the clipper tunnel, ANA has en-
tered the top or the sulphidc zone. A
raise connecting the Woods0n and the
Clipper tunnels shows that the sui
phides extend only about 20 feet above
the Woodson tunnel The ore in this
latter tunnel still shows considerable
oXidizluou and teaching ana IS not OF
as high o. grade as the ores iu the
wines from this tunnel
"Thc last 1855 feet driven Zoo the Wood
"a pa a.. d D rUsHH
per- A vertical wiuzo sunk from this
tunnel Ia a depth Of SO feet. averaged
200 per cent Cpupyr ana an incline
Wine driven for am incline distance OF
100 feet averaged for The last 100 foot
-.2l per cent copper
CoNCENTEATING ORE.
1.-The orc IS am ideal concentrating ore.
Probably 40 Per cent of the copper
values occur iu sman assures or seams
ANA the balance of tha values occur
disseminated through the rock ln come
ugr1tiye coarse spoaks of uhalCoCitc.
Tho ore win therefore not have to bo
/ crushed as nno as m the case of some
. af the other disseminated copper de-
Uos.ts Without making tests, 7 should
estimate that Tho ore should C0uceu-
. trutH about 90 into T.
"Thr company owns 23 claims. having
I 20 total area OF roughly 300 acres, cover
/ Ing $500 foot along the strike of the
/ disseminated copper mineral belt west
of Che Globe. This belt has q total
/ length of roughly 10000 feet.
"Tha Miami copper company i7 loCat-
/ ed Doc abe eastern end az thi7 belt
/ and n the Eel Rock shaft located 500
! I.r, from the end line 81 tho l1spira-
] tom they have developed 10000 600 tons
/ off ura. Five thousand feet west ~ Tho