The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-11-26
BY j. "A. MINNEAR
& COMPANY

ability to maintain the rate OF production o,oo
nitely and probably increase as soon as metal 49,,
lions warrant
The recent disclosures the Ptsmont nronor,
been of great Importance to the East Butte matt,
a large tonnage of high grade ore and also coo.,
class ore.
AS the payment OF $250OC0O on the PIttsmon. .
has been extended until December 1911 IT is bard, m
iy that East Butte viii take any action on the opos,
OF Issuing more stock for the present course sb,
uhere be decided Improvement in the copper share
market the directors may deem it advisable issue tb
100000 shares of the treasury at an oro,,.
time, and thus provide for the retirement of tho m
standing bonded obligation.
The stock has been of the most active ,,
the past few weeks, and this probably due Iaro, -
a combination of the important and Favorable oo,o
opments at the property together with stock mo,
operating in the issue
INSPIRATION
There has been very significant buvino ~, r,
splration during the past week or two and thor T.
every reason to look for further advance IN ,ht
issue Inspiration with its large ore body blocked on.
has failed as yet to show advance to oorresror,
with other porphyry properties II is understood t.
pool has been formed i'm the stock with the object Of
bringing about an advance OF at least fifty per cent
The actual ore reserves of Nov 1seleOOO an
increase In the month of than $4,000 tons These
figures DO not include the partially or Indicated ore re-
serves
ALGoMAH--
Drifting at the LOG foot level Algomah continues
to disclose some very high grade ore. The MANAGE.
ment is very encouraged by the deyelonme,ts ~,
this point While drifting under way a skin road 10
being put in place and other necessary details provided
for so that development work may continued with
greater mpdity The stock is being well by those
who are familiar with the property Agomah appears to
us as being the most attractive of the Lake SUI
peror hotaons. 1t is sinking shaft in the vein and
there is at all times interesting information obtanab
This fact together with possibilities which lie ahead
of the property on the Lake lode add to the spec
htive possibilities. and whenever there any further
activity in the Lake of stocks we believe that
Mgomah viii be of the leaders
LAKE COPPER COMPANY
The sale of 1880 shares of Lake treasury stock
offered to shareholders rata success prac
tically none of the stock underwriters THE
disposal of this block of stock Company very
close to $45O.OOo0O Ai ' i ' r'' -''I
An Official of the Company states with the funds
received from the sale of the treasury stock the Com
pany VIII have sufficient funds hand carry its
development work for the two years by which time
it, will be fully demonstrated whether or not we will
have mine. From advices read at the meeting this
week. there Is every assurance that have mine
The Company is doing development work at the
seventh level where the vein found to DE over one
hundred feet wide with stretches showing very ex-
cellent naturalization.
No plans have been made for the early resumption
of shipments quite likely that before the sum-
mer will have arrived. Lake will once more enter the
ranks OF the producers, and probably ship Tri-
mountain mill.
SUPERIOR BOSTON,
Our Globe correspondent sends us the following in
formation Superior & Boston:
Superior & Boston has good showing in the Great
Eastern vein the eighth level. The drift has
veloped oxidized three wide at the widest
part and some assays six and six tenths per
copper nave been obtained. The whole drift
is heavily stained is one hundred fifty
feet east of the point where found sixth
level so that the management expects much wider
vein and higher assays continued drifting
ward"
The annual meeting to held next month will prob
ably develop nothing of except OF
the annual report This will probably show that the
company has exhausted the greater part of its treasury
oaiahca but In as much as arrangements have been
made for financing without the bonds adj
iitona stock assessment shareholders need look
or no disappointment from this factor
LIVE OAK
Live Oak has encountered a new ore body sixty feet
nick In hole No. SO, four hundred further south
nan any previous prospecting The commercial matter
vas hrst encountered depth of eighty feet Below
me hundred forty feet the chalcoce mixed with
ilicate so that the management include the ore
the total of ore blocked out. The recent discovery
vas In granite instead of schist and slightly
letter than two per cent copper Five holes are being
unk One Of these holes is being bored a portion
the property farthes and the Monezuma
roup.
UMMIT-