Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1909-11-02
PRECIOUS METALS
HAS BONANZA ORE
RICH SAMPLES FROM FIVE
FOOT VEIN
Group of Gold Claims in Silver Lake
District Brings Fortune to SYM
dictate of Los Angeles
Mining Men

The Precious Metals Development
company, a close corporation of Los
Angeles men, of which Dick Ferris is
president, has made a strike of SEN
sational values in a gold properly in
the Silver Lake, Nevada, district that
has excited mining circles. The COM
pany, being of small capitalization and
financed, with no stock for SALE did not
consider the news of particular inn
portance to the public, hence was
averse to making it public. but the in
formation leaked and Mr.. Ferris con-
scented to give the details.
The proof of great values at the COM
paratively shallow depth of $50 feet
came in the form of five assays which
were made from samples sent in by the
superintendent The first two, which
were from the break of an ore shoot
measuring five feet across, returned
$312.52 and $780, respectively, the val
ues being almost entirely in the yellow
metal. The other samples, which were
taken at different parts of the mine,
showed s545.5S, $3.50 and S161.63. The
first two samples mentioned came from
the bottom of a Wine which has beeh
sunk somewhere between seventy and
eighty feet from the bottom of No. 2
shaft, which was sunk on the ledge
to depth of 200 feet. The drift from
No. l shaft $50 feet deep. disclosed a
break, at the end of which a small
shoot of ore returned $1,000 from the
furnace.
The company is now engaged in
driving a tunnel to prove up the prop
erty. and the present strike is a fore /.
runner of what may be expected. The
tunnel, which will undercut both
shafts, will intersect four veins in its
course, and is now in a distance of $50
feet. The group Of claims which EN-
brace the holdings of the Precious
Metals was at one time under bond
to a Mr.. Eaton for 100000. but the
financial panic of '07 prevented the
contamination of the deal.
The Silver Lake district, although
noted among the desert rats for its
high grade surface showings, was pro-
tected from invasion by the safeguards
with which the desert protects its
treasure until John Ryan. himself a
wanderer through the arid regions
built the Tonopah & Tidewater rail-
road for "BoraX" Smith, thus bringing
the great mineral country of the Amar-
gosa and Death Valley deserts within
reach of prospectors. who did the rest.
The Precious Metals Development
company got in right, and through in
telligent development work has made
a mine for which the company has re-
fused a quarter of a million dollars.
Associated with Mr.. Ferris in the own
ership are Capt. II. ID. Ryus, F, R.
Jackson and John L. Whitney, and 1t
is due to the ability of Mr., Whitney,
who is a mining engineer of recognized
ability, that the prospect of two years
ago has crystallized into a bonanza
mine. Mr.. Whitney recently made an
examination of the Keane Wonder
mine, at the south end of Death VAL
ley, a desert mine which, equipped
with a mill, has been a steady and
consistent producer of bullion under
adverse circumstances. The Keane
Wonder is now under option for $780,
900. 1t was located five years ago by
a Nevada man while he was fugitive
from justice, having killed man in
quarrel over a card game.
A wide belt of porphyry is the coun-
try rock of the Silver Lake district,
and Mr.. Whitney expects to see other
mines developed therein.