The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-07-23

Ray Consolidated ana Nhi'o'
NEW ARcAplAN-
An exploratory SHAFT is being sunk the New Area
dian to uncover the auygdaiod which recently en-
countered I'M diamond operations the property
The vein was cut at comparatively shallow depth and
as shaft is but short distance from the point
Intercepted it should reach the lode
in a very short time Some water encountered In
the shaft but this being OF in satisfactory
The New Arcadan management has no definite plans
future viii continue its exploratory work UNI
I'll such as a vein is disclosed which offers suf-
dcient encouragement warrant sinking shaft The
company has funds sufficient carry operations for
at least the remainder of the year.
CHINO
The strength in Chino this week consid-
attention the porphyry Chino appears
be of the of this class of stocks 1t
estimated the total developed and partially deve
oped at this property amounts approximate
ly tons, with average per cop
per-
1t is hoped the property enter ranks of
producers early 1871, and spon-
for the company will be able
produce market Is copper than nine
pound. Chino will have difficulty in getting water
enough TO its concentration. factor which is
tremely important in the low grade
WOLVERINE
There has been some selling of Wolverine recently.
and the investment the proceeds high grade
copper stocks such osceoa and Mohawk. Sellers of
stock have ben influenced in this because OF the
comparatively short life Is by opera ions
at the Wolverine The life of this company. far
the Kearsarge lode is concerned. is limited
ten and twenty years.
Efforts being explore the Osceola lode by
prosecuting points and at consider
able depth. As the Osceola lode been so well
minralized the Kearsarge higher cost of production
will follow when Wolverine this vein Conse-
quenty with the of production will come
smaller return to shareholders of the Company
Already holders OF Wolverine stock are laying aside
portion of their dividends a sinking fund to pro-
vide for any possible contingency which might
proving the Osceoa vein Improbable for mining
The management recently installed a diamond drili
and will use it to select the desirable Stopping
ground 1t was understood that this drill to be
used i'm exploring for the ven but this means
of operation decided desirable than crosscuts
BY means of these trosscuts the management will be
able to more positively determine what may DE expect
ed from the osceola vein
MICHIGAN ,..l
IN east drift at the Bee shaft of the Michigan is dis
closing favorable condition. and the rock carries
very satisfactory values. management has
that the Bee will develop into a profitable producer
The company is doing exploratory work with a
diamond drill and in hole No. 30 recently amyg-
daoid vein six feet wide carrying fine copper which f.
finely disseminated throughout its entire width
LAKE
The past week found the market rather more
settled although 1t covered range of points
ing as low $3.50 and high $780, A director of
the company recently stated that attention
will be paid by the management to the
price of the stock 1t hoped concentrate all efforts
towards the extension work and demonstrate
what be expected from the property 1t is believed
that the company to carry on an ag-
gressve campaign of operations until position to
produce regularly The longest Lake prop
erty is the third level where drifting has the
vein for approximately 1900 shows it to be a
characteristic amygdalod lode
The public is beginning appreciate the fact that
Lake is not yet thoroughly property the
openings to date have been very gratifying times
extremely rich disclosed insufficient work
has been done thoroughly demonstrate 1t as an in
vestment proposition
1t is recalled that the old Nonesuch property In on
tonagon County equally mine in its early
days. but that after considerable copper taken
out of it, the vein pnched While is hoped that
the Lake will prove like Nonesuch stll the con-
servatve occurred at the propertv
now owned by the Calumet & Hecla, and show some
hestancy in buying Lake
IL will take at least another year thoroughly DEM
onsrate the real value of the Lake Copper company In
the meantime 1t is fortunate in having director
ate, which be depended upon develop the mine
In the most economical and possible
NORTH BUTTE
There good buying in North all this week.
between $2f.OO and $4,000 share The buying Is be-
lieved to be significant and undoubtedly a large -. Is
being accumuted by interests Thoroughly con-
versant with developments at the property.
George f. Bartlett, who Investigated conditions