White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1911-07-23
MINES OF TREASURE
HILL TO Be WORKED
ELY-HAMILTON INVESTMENT
COMPANY Is FORMED TO OP-
ERATE IN THE OLD BONANZA
FIELDS.
INVESTMENT

Inc Ely Hamilton Investment
company has been incorporated for
the purpose of acquiring and ex-
plotting properties in the vicinity of
Treasure hill. For the start the new
company has a lease oil the San
Toy group in addition TO a claim, and
ii is proposed tina tne first work
will be on the lease. Part of the
San Toy ground was formerly un-
der the name of the Silver Plate
mine from which s25O,000 were
taken.
Treasure Hill was the scene of the
famous White Pine rush. the first
rush in Nevada. Millions of dol
lars were taken out of the diggings.
but in those days, owing to the isola-
tion of the camp, and high cost of
transportation only the high grade
silver ore was considered. There
are still thousands of tons of low
grade ore on the dumps of the
Treasure Hill and Hamilton, and
the country itself has been little
more than scratched in the hunt
for the precious metals.
It is the belief of the Ely-Hamfl-
ton Investment company that a rail
road will soon find its way into
Hamilton, and il is proposed by the
company to secure new holdings be-
fore this happens. Reversing the
general order of things in the for
nation of companies. the treasury
stock Is far In excess of the promo
ton stock. The company is incer-
porated for 100000 shares of
which 100000 have been put in
the treasury. With this treasury
stock 1t Is proposed to acquire and
develop other properties.
Hamilton is a country which has
long been an attractive one for the
prospectors and miners, and the
day cannot be far distant when a
railroad will find its way in there.
In this connection there has been
considerable talk, and it is only a
matter of improved conditions in
the country to make the railroad a
certainty. In the San Toy lease
the company has a brilliant pros
pect, for the same conditions exist
there that were in evidence when
$250,000 were taken out of the
property. The contact is shale and
limestone, and a shaft has been
sunk through the shale for a depth
sinking of only a few more feet to
strike the contact. The first indi-
cation Of mineral was found in the
formation of a quartz stringer, as
soeiated with a stringer of white
spar.
In the days of old the white
spar was always found associated
with rich silver ore, and from this
fact the finding OF the par at the
present is taken as a most encourag-
ing sign. The character of the ore
is the same as that which was work.
ed in the early days, and from the
property on which the leases exist
there were taken 700 tons which
averaged 275 ounces of silver a
ton. At the present price of the
metal this would mean $145 a ton.
and even at the high cost of
transportation under the existing
conditions, ore of one-third this
value could be shipped from the
San Toy at a good profit. ,
The company has put a block
of stock on the market. and will
let in the public on the ground floor.
For further particulars one may adj
dress A. l.. Haight in the Northern
Hotel at Ely, who Is secretary and
one of the directors. The company
comprises l.. G. Schwallenberg,
president and treasurer; Charles w.
Farr, vice president: A. L. Haight,
secretary; Thomas F. O'Brien, man
ager; John II. Moore.