The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-12-04
kEWEENAW COPPER

more money The company is working force OF about
awenty men regularly will increase this as do
velopments progress. frf
Yesterday diamond drilling outfit was rugged up at
the bottom OF the Medora shaft The management pro-
poses drill horizontally north until the green
stone reached which is estimated to be within 300
feet This will take but ten days or two weeks
the to get the desired data. The drill Will ex-
plore that territory of shaft and to the
greensboro blum past which it is generally conceded no
copper values be found
The drill will be turned to the south of the
shaft explore the Calumet conglomerate osceoa
amygalod and such other veins found between
them. The drill win tap the Calumet conglomerate at
a depth approximately 5000 feet the strike OF
the vein and about 1000 the Osceola lode
When these lodes cut in drilling from surface
it found that they both badly shattered 20
that no conclusive results could be obtained. At
the depths above indicated the veins should be found
more regular. and will determine positively whethe.
or the Keweenaw can expect operate them
prohtably Much interest attached this present
campaign of diamond drilling. 1t will explore veins
at depth greater than before attempted in
Keweenaw county. the event that either of the
odes to be cut in diamond drilling is found to
well mineraized the management will once
its attention toward sinking and in of time
producers. Ftf .
Keweenaw Is now sinking exploratory shaft the
Kearsarge This shaft has attained a depth OF
100 feet and shows copper though sufficient
to become unduly enthusiastic 1t is intended to carry
lode The shaft is eight by ten large enough
to carry this class of work. Should later develop
mens warrant 1t be cut down.
The activity in the stock this week when 1t ad-
vanced from SO to IS share is largely to the
fact that the exploratory work mapped out prom
ses to disclose very encouraging results. This coup
ed with the announcement that the company has funds
sufficient to meet its needs for another twelve months
certainly places the stock in attractive position
Except the diamond drilling at the bottom of the
Medora shaft active mining operations are being
conducted at this pont.s
CALUMET AND ARIZONA
At the Oliver shaft the Calumet and Arizona
what is believed to be the largest ore body in the
Bisbee camp has opened. This ore body first
opened on the LOO level was recently cut on
the 1900 foot level very rich. How much deeper II
extends is impossible to state as yet but already IL
dscloses sufficient tonnage make 1t the largest
in the camp.
In tho courtland district Calumet and Arizona is
not meeting with the in the development of It's
ings good opened but depth was attained
this grew less. A drift is being extended now at O
depth of 500 feet further explore the tract
At the Mammoth property, held under option by the
Calumet and Arizona, the shaft being sunk another
100 this property a considerable sized low
grade ore body is being opened up. but it will take
further developments to prove concusvely that 1t will
prove profitable acquisition for Calumet AMI
Arizona.
LAKE COPPER
Returns from the second mill of Lake gave
s2 pounds of mineral. slight increase over the re-
suits from the initial test. The announcement of the
results Of the test the signal for sharp rally
Lake to $685. but from this point 1t has receded until
L broke below s55 per share, and looks lower
Lake has been well financed 1t has 900 shares
remaining unissued in its treasury. January
company sold 1000 shares of stock s25 per share.
hnother block of stock recently sold in the open
market by the company between SAL and s4s per
share and 1000 shares only short time ago for
'5l to $50 per share. Thus 1t will be that the
company has Appropriately $4,000 in cash or
course this will not go very far in giving it per-
nanent equipment and at the same time continuing
work a stamp mill will require addl-
onal funds. 1t is hoped though, by means of selling
he balance of the treasury stock that the mine can
20 fully equipped and also a stamp mill provided
SOUTH LAKE '5" rs
South Lake looks to be of the most attractive
properties in ontonagon county in view of late de-
'elopmcnts at the property the Lake development
company Because of these developments ht the
lake the position of South Lake has materially
rengthened. It appears as though Lake would
find the property OF South Lake. particular
y so acres desirable this probably car
les the underay IL not the outcrop the lode which
las made Lake the cynosure copper mines in this |
district
Lakes SHAFT lies only about $50 feet from the |
boundary line of South Lake AS the Lake lode runs |