The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-12-15
MINES AND MINING, STOCKS

Montana share holders. The contro
of this property is held by Amalga.
mated which will I'm return for its II
a NJ. shares receive eight shares OF
| Anaconda stock. The AmalgamateC
i'm turn is a subsidiary OF the Anacon.
da. Thus the Anaconda stock viii
eventually land back in its own treas
ury.
Utah Consolidated continues to b,
bought on the weak places by strong
interests.
Giroux Consolidated is pushing work
on its Limestone properties and il is
said that ore will be shipped TO the
International smelters in the near flu
ture.
A good deal of Wyandot has been
picked up quietly. II is said that the
company has an excellent prospect OF
making big showing on the lode
that was cut by diamond drill recently.
The lode was first disclosed i'm drill
hole No. 81. almost at surface. The
hole is 1000 feet deep and also dis
NlONtu etNNl0l ONiAti AobtN vi AllAiANA
Importance. The trenching shows
seven feet Of overburden and a. lode As
feet wide carrying copper from foot TO
hanging. the heaviest naturalization
being on the foot wall side. The
strike line OF the lode IN" As degrees
The trench was started 1900 feet
northeast Of the original discovery.
The lode material shows finely disse-
minated copper. where exposed, at a
depth of 60 feet. The management
will cross-cut the lode at this point
and drift on the foot wall. Ii is the
most encouraging amygdaloid Wyan-
dot has ever had. The shaft located
about i'm the center of the southwest
quarter of Section 16, 52-s6, and has
$500 feet on the strike of the lode.
Reports that an assessment would
be called by New Arcadian in the near
future are denied. The company is
said to have enough money on hand
to carry il for over year. About
$4,000 a month is being spent on the
property at the present time and there
is about $4,000 in the treasury.
known as Pilot Butte on Butte Hill
will be shortly further financed. The
company has at the present time
shaft down $50 feet This is a three
shaft. A number of Mil
Waukee. st. Paul Minneapolis and
Duluth people are interested i'm ii and
we are told that ii is the intention of
the management 10 sell thirty or for
ty thousand shares at possibly IS, sub
iect to n further call of So. The people
behind il are some of the best and
from a market standpoint. it would
look as if it might be an active trader.
AZ. 900 full paid shares out OF "A total
OF 100000 was paid for the property in
full.
Henry Krumb consulting engineer
Of the Inspiration and Gunn-Thom-
son interests has recently made an
examination of the Cactus property.
We abstract from Mr.. Krumb's report
as follows: "'The company owns OPP
lions on about 1900 acres. on an area
Of about $500 feet long and 600 to
I 600 feet wide, the outcrops consist
OF altered schist. There are the us
ual surface indications that charac-
terize the outcrop of disseminated
copper deposits. commonly called por-
phyry in the case of the Cactus. These
surface indications are strong and
justified an expenditure of money to
prospect the property. The balance of
the company's property does not APP
pear attractive.
The bulk of the payment on the Live
Oak property is not due until Deem
Der g, 1912. Mr.. Rowland is in the
east at the present time negotiating
for the financing of the property.
There is a rumor that there may be
a possible consolidation of Live Oak,
keystone. Miami and some other prop
erty. They have put down something
like 3S drill holes in the process of
blocking out and developing ground OF
the Live Oak property, and with one
or two exceptions all have shown up
a large body of commercial ore. In
fact they have approximately an ore
body 1000 feet long and 900 feet wide,
running from two to four per cent,
with an approximate depth OF $50 rect.
II Is the intention Of the management
to raise one and one-half TO two mil
lions of dollars to completely finance
the property. build concentration and
give them a working capital. 1t is not
absolutely necessary that present ne
gotiations terminate successfully Tor
the company is i'm a position to con-
tinue it's present activities without the
necessity of any further financing.