The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-08-20
Continued from page two


The smelter win have a capacity OF 1850
daily and is the modern yet construct
ed. Developments at the Giroux property have been
very favorable Sinking has been discontinued In the
main shaft below the l2OO-foot level account
excessive flow OF water The pumps are having
difficulty in handling the How. and sinking will
doubtedly be resumed the course of the next fow
days
This shaft has five compartments Two compart-
ments to Zoe carried down to the 400 foot level
and this point reached the remaining three
compartments win be opened.
There has been some fairly good buying of Giroux
much of the stock being purchased being in,
vestment There has been selling of
Greene Cananea, and the investment proceeds in
Giroux plan which at present prices appears quite
favorable.
WOLVERINE
Trenching the Wolverine recently disclosed the
outcrop of the osceoa ven Wolverine has just broken
ground preparatory to sinking shaft on it.
Wolverine shareholders should reconcile themselves
with the fact that the Osceola vein in all probability
will show about one-half much copper as is found
the Kearsarge vein, and consequently earnings will
fall off. While Wolverine is planning on the develop
ment of the Osceoa vein this mean that it's
Kearsarge territory has been entirely exhausted wlv-
crime has at least life Kearsarge lode
la vein will do much add life to the company.
ALGoMAH-
In sinking the shaft the Algomah which lies direct
y south OF the Lake. native copper was encountered
Heretofore entirely in ore very UNI
usual in Lake Superior mines.
Those who familiar with property expected that
the would give way native "copper" that the
nouneement this week not entirely unexpected
However, result of the development work, Algo>
nah stock become very strong. selling above sl4OO
share Among the Lake group of stocks, Algomah APP
to to be one of the most attractive. 1t is not
necessary any diamond drill work to at the
mine for the present and all efforts will turned
ward the sinking the shaft. This will give
holders positive information than could be
tanned by diamond drilling, and will add much to It's
speculative value. 49,,
ATLANTIC hi = b.
Renewed activity Atlantic stock may be expected
at any time The management has decided 20 begin
campaign OF diamond drill work. and has selected
site hitherto undeveoped The drill this new belt
will be sunk about 1000 and interesting dis
Closures expected '.ft.. .-. ,,,f,,,, .
John r. Stanton director of the company visited the
property recently and is understood favordbIy I'm
pressed with the prospects of the new line of work TO
be undertaken.
NORTH LAKE ,.,i .,l.,,.
No IL drill hole North Lake has gone through the
burden for $50 feet and is very near the
ledge No hole will probably reach the amygadaloid
vein disclosed in No. hole in another month. and, =
As yet, North Lake drilling has failed to give sum
cient data to warrant the commencement shaft
ing and unless there is material change important
developments during the next month two 1t quite
likely that no actual mining work will undertaken
until next spring
North Lake has funds sufficient hand easily
carry it through its campaign diamond drilling.
RAY CONSOLIDATED
The time for the exchange stock ella Copper
company Ray Consolidated, on a basis of three
shares of ella for Ray, extended untir
September list More than per of ella stock has
already been deposited ST.
Operations at the two properties continue in an ag-
gressive manner. both in churn drilling min
ing work. The management contemplates sinking
second working shaft and when this is equipped
ready for operations 1t will be possible to handle very
close to ten thousand tons of daily.
The concentration will be constructed in eight Sec
tons 1t Is hoped to have at least section ready
use by the first of the coming The whole plant
will probably not zoe in commission before fall OF
1911.
The Ray management is planning also on the
sruction OF smeer TO handle its concentrates
estimated that the Ray and ella properties have already
developed in of 100000 tons which will
average approximately az per cent copper
Ray Consolidated has in its treasury about $780,
OOOO0 which amount 1t is believed will
only fully equip the mines. smeer.
but also provide sufficient working capital until the
properties are a self sustaining basis.
BUTTE G. LONDON
Efforts being made revive interest in Butte &
London, additional funds to pay obligations
and later to operations at the property. The
plan is announced i'm the following issued
shareholders: ,,.
Each stakeholder record August 1, 1910 I'm the
Butte London Copper Development Co. be allowed