The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-11-27
ANNUAL REPORT
Of COLORADO co.
Company Enters Into Welcome
Detail in Regard to Mine
Conditions.
GOOD STRIKE MADE
NORTH SIOUX LINE
Believe Resources Are More
Extensive Than Was at
First Thought.

inc CO01pfCtS lCHL ot lbS AS
port OF the Colorado Mining company is
being received by local stockholders,
from, which the following extracts are
selcctcd as containing more Information
than the frcauepI quotations from the
same have given since tho meeting last
Saturday!
"1he monthly cost per moist ton for
mining Onc!uding prospecting and de-
vciopmcnO has Increased from s2.a2 to
$7.27 per ton. making an average for the
year Of Sio.0So.
This increase in cost is occasionco
through extensive prospecting being car
ricd on and the shipment OF a smaller
tonnage or orc than heretofore. From the
extreme northern boundary OF the prop
erty 10 within about five hundred Feet
OF the southern end a hish grade lead ore
has been mined. Al this point a change
TO very high silica ore carrying good
values In gold and silver occurred, and
as tho smelling charge on this class OF
been Lett in the mine except for n very
small tonnage recently shipped for con-
vertcr lining purposes In copper an'eltcr.
Tor which II is desirable; but the demand
for this purpose Is very limited.
"Hecent tests have been made on this
silicious orc and the adyisability OF erect
ing cyanide mill is being seriously con-
sIdcred. The management is convinced
that this gorc Is adapIed to cysniding and
can he Successfully treated much more
economically than by smelling, under
present smelling conditions, and that
there Is sufficient orc blocked out 10 ;us-
tfy the Undertaking. Further data Is be-
Ing gathered and this question will he
definitely decided in the very near future.
Work which has been vigorously pros
ccuted south on the 800 foot level has re-
Gently resulted in the discovery OF lead
ncctions have been made with the work.
ings Of the Sioux Consolidated Mining
company that leads US to believe that the
orc reserves in the Colorado arc much
lsrce- Than wc had heretofore antici-
patcd. there being at least five hundred
Ieet OF ground which is practically un-
developed. with the exception of the drift
connecting with the Sioux. This ore body
appears io parallel the sicious ores. but
sufficient work has not yet been done to
determine whether this theory is cor
rect.
mo ore bodies have yet been discov-
cred on the 5oo-foot level. though In sew
cral places Indications seem favorable 4
complete diamond drilling equipment has
been purchased and the management be-
licyes its use Will reduce development
costs and also result in the discovery OF
new ore bodies al greater dcDilt
"Thc total footagc of tho wear consists
ot 2l0 feet of shaft; 2II0 feet OF drifts
81. feet Of crosscuts and o1S feet OF raises
.ao 'n re extending a crosscnt east on the
ot0-toot level OF No. workings. n body
OF soluble lime which is Identical with
the lime in the orc channel to The wcst
VAS encountered This lInc has been
proSpectcd by 4 drift south seventy-five
feet. raise twenty-five feet, and al
prescni winzc is being sunk
II Is not the policy OF The company
and measure up ore reserves but rather
10 thoroughly prospect the territor5 in
search OF new, orc bodies and at the
same time ship sufficient ore to paw iis
stockholders a fair rate OF dividends 'ss
long az the ore lasts. Adherence 10 this
policy has made possible the payment In
"lylden.is ,lis year Of practically so pc
cert OF smel;er returns from ore mar
kete6. and the disbursement OF s., 600
TO It's stockholders in the last three
years.
The treasurers report shows:
RECEIPTS.
The following is d statement OF cash
receipts ana Disbursements for the fispa1
year Guiding November I. 1910.
CASH balance November l. 1909. s ao.SS7. OF
Cre sa,es -,'....- -....p.,..... oI9,c6S.oI
poser crsfgS sales '''''.''.'' ' i's32 81 81
diamond drill carbons sold S9S 70
Supplies and machinery Sold. 1910
Shscehaneous So. .,,...-- 1o5. So
Total 49,. ...,-.......... 1868. ls5 As
DIsBuRsEMENTs
Taxes n209l ........-,.,S H. enJ
October 5000 bills paid during
trscsi year ...... .........'. 1889 .5s
Air, water and light lnes. ,-.- 1886 81
Buildings maintenance ..... li13y
Biachsr,i,bing .---... ....s.. 1851 .;0
Cars and tracks .,.......... Gso 56
Candles ..-,.. s..-...../ II 009 90
Drills aud repairs ....'..... oI3. "a
1eNe,opTent ...'... ......--,.. 1870. 80
DIVIDENDS .:.,-- .....,.., 400. 900 90
DIAMOND drlii and carbons. S.05s SO
Fxpiorailon f.-..-.r ,..,...... 526S Is
G1plos'yebe .,.., -..-.,-,,-,.. 5.3aI Ca
tuel and water -..,.-,..,..... I.211.a
General expense ..-.e.e...... 6,T3A, GS
tIoistiug, ....,... .,,.....-.-. 3.SGS. 30
iron and steel ...... -,.,... l69 n
Laboratory and engineering. 2.29I 81
Machinery maintenance ...-. Lees 70
Miscellaneous s.........., -. 10 20
Office expenses and admins
tration mote D.,.......,. 5,eI5.o
Ore supply .tnote 2)....4... 215IS
Orc freight, mine to Silver City o51sy 90
Power plant equipment. 4o3O 5S
Power plant operation ..... 110s1 %
supply freight ,:........-.-.,. s1s2:.