The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1909-04-10

you enclose apoas "A
Gold Copper Mining company anu "'
;.,orssted TO know there is such
a large property to add to the
% this vicinity. 1t is strange how a
nroner,v of such magnitude had escaped
a. attention of the local mining pup
n. Rv their statement they own 81 fun
.,.;ms on which they put a value or
AZ ooo moo. 10 of the claims are located
he,ween Goldfeld and Tonopah, IL
Miles northeast of Goldfeld near Red
Maintain Chute's map shows no
claims belonging to such a company IN
that, vicinity. With the exception Oh a
few claims near Red Mountain, so,ooo
would buy 10 or 20 claims in that en-
tire section, especially located IL miles
northeast of Goldfeld'' as that would
bring them out on the fiat through
which runs the Goldfeld-T onopah auto
mobile road. Of the IL claims "located
near Copperfeld, three miles from the
~railroad,o we have little or no knowi-
edge, but in a general way we know the
country along the railroad and know OF
no such "bonanzas" as spoken of. SOME
work has been done near Copperfield
and some fair grade copper properties
have been opened up, but by the widest
stretch of the imagination these claims
could not be estimated to be worth
more thar $4,000. 1t is claimed that
there is $150,000 worth of work done
on the ground, which, in estimating the
assets of the company, is added to the
5000, 900. Added to this, is ''$2oo,-
900 worth of ore in sight and to still
further augment the total assets of the
company, there is added $4,000 for a
mill "awaiting transfer and shipment,
presumably not paid for. 1t is a rule
in mining, sometimes varied by local
conditions. to pay for a developed prop
erty ONLY to the amount of the ore
Gin sight" which, in this instance, and
by their own estimate, would make the
property worth only $250,000 instead of
S.. 900. 900. We do not wan to dis
credit the merits of the Copperfield
claims. They may be az right; but we
do question very seriously the value
they place upon their property, upon
which repre- sented value they are trying
to sell stock.
G. w. B., Pittston, Pa.-The Gibraltar
closed down some weeks ago to
await development on the ground I'M
mediately adjoining on the north and
south. Leasers are working beyond
both endlines of the Gibraltar and were
getting fine values and it was thought
good business to wait until the others
located the lodges instead of spending
money grouping around in the dark.
The Moore lease to the north seems to
have located the ore, having encounter
ed a vein of very high grade which
seems likely to open out into a Tense
in the direction of the Gibraltar block.
In light of this discovery, the Gibraltar
people have let a contract and work
will begin ON the 18th, with view to
opening this ore in their block. The
company is well financed and Will get
the ore if any exists in their ground.
The lease is under the management OF
Downie Muir, engineer Of the Combina-
tion Fraction.
F. H. A., st. Paul, Minimize Gold
field Mining and Ore Reduction com
PAW and the Goldfeld Mining and Re-
auction company are two separate and
distinct organizations although of SINH
lar name. The former owns three
claims in the Goldfeld district, in
which district they have also been
working a lease, and they own valua-
able interests in Gold Reef, in which
district they are under active and con-
slant operation. The latter company
owns two claims in the Goldfield dis-
trict north of Columbia mountain, on
which but desultory work has beea
done. This company is a Chicago out
fit, while the former are mostly Gold
field and Tonopah men.
F., Dobbs Ferry, N. Y.-The Tonopah
Gold Crown Mining company owns a
full claim in the heart of the proven
ZONE of the Tonopah mining district. 1t
lies between and is surrounded on all
-four sides, with the exception of a
portion of the end line joining the Gold
Anchor, by the Tonopah Midway and
Montana Tonopah estates. A shaft was
sunk to water level. The ledge was not
encountered and the water flow, as well
as a depleted treasury, caused suspen-
sion of work. A representative of The
News visited the claim and found a
splendidly equipped hosting plant, with
everything in readiness for resuming
operations whenever the management
might desire. While the Golden Crown,
the name of the claim owned by the
company, has not yet developed ore, it
ia SO located as to be very valuable