Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1910-02-05
Prospectus OF the Old Penobscot Mlnln c
Company.

prospectus OF the Old Penobscot M1nln
| Company.
There has recently come to light from
among the papers of Black Hills min
ing man prospectus issued in 1881 By
the old Penobscot Mining Company, one
Of the early ventures of the Southern
Black Hills. The report on the prop
erty, which lies south of and adjoining
the Roosevelt group owned by Otto P
Tn. Grantz was compiled by w. II
Wright at that time editor of the Dead
wood Daily Times and practical min
ing man.
The prospectus was issued shortly af
ter the organization of the company and
is dated Nov. 18th, 1881. Among the
Deadwood men who were interested in
the project were the late John r. Viii
son, treasurer of the company, John
Fortune, who was manager and is now
prosperous resident of Denver and
still interested in mining affairs in Colo.
rado, H. H. Mum, one Of the trustees
and cashier of the Merchants National
Bank of Deadwood, Z. F. kellogg, also
trustee and cashier of the First Ma
tional Bank of Deadwood, and w. III.
Bull, of Deadwood, one of the direc-
tors. The property comprised two pat
ented claims of about thirty acres and
is still owned by Edwin Van Cise OF
Denver, John Fortune Of Denver, and
the estate of the late John R. Wilson.
The ground is located about seven
miles northeast from Custer and even at
that date was considered a remarkably
promising proposition. Judging from
the report of Wright, il should be today
profit producing mine from the start,
with the use of the improved methods
of mining and ore treatment which have
been introduced since that time. The
principal work of the company at the
time the report was issued, had consist
ed in mining from an open cut, which
then was rs feet long and so feet wide.
This entire body of ore was run through
the mill and was said to assay from Sc
to $40 per ton, with large percentage
Of the values in the free state. The cut
had face sixty feet high and the intru
sions of slate, which showed at the top,
were commencing to disappear at the
floor of the workings, indicating that at
greater depth, they would have asolid
body of paying quartz. In the cut a
shaft had been sunk on seam of very
high grade stuff, which had width of
one foot, and showed tendency to Wild
en-. At that time no attempt was made
to save anything but the free gold by
anal gamation, and the ore reduction
was effected in thirty stamp mill of
ancient construction. 1t appears that
the loss of refractory values together
with the escape of flour gold which the
plates could not hold, was SO great that
it was impossible to keep the plant on a
paying basis and consequently opera
tions were suspended. If the assay re-
ports issued in 1881 are reliable the old
Penobscot could be easily converted in
to one of the best paying propositions in
the country, by the use of the many
modern Improvements in mining and
milling methods which have revolution
lied the mining industry of late years.
The Roosevelt group of claims, COM
prising 2l0 acres, and owned by the
Grautz Gold Mining company contains
an extension of the big ledge ofthe Pen
obscot ground, besides other veins OF
high grade. 1t was from the Roosevelt
that large amount of high grade stuff,
assaying above $1,000 was sacked and
shipped, and this property, after mod
crate amount of development, made as
good showing as any mining ground in
that section of the country.-Pioneer-
Times,