White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1911-06-11

other words, the grade of the ore is
such that it receives the same treat
ment as the newer porphyries though
it has gold and silver to help out.
The discovery of Miami is almost
a In 1900 l had seen the
Ray and had been told that its ore
ran 3 per cen and over l had kept
the property in view. and in 1906
got an option on it from the London
stockholders, and in December of
that year examined it. The terms
which the English proposed were not
at all satisfactory in view of the fact
that there probably was not TO ex-
coed 5OO,0 600 tons of ore developed.
The grade appeared low, and SO l
gave up the option. Later l was in
Globe and was approached by f. {.
Alsdorf who told me of a similar de-
post a few miles out from Globe.
The following Sunday he took
me over the ground which is now the
Miami and the Inspiration. l was so
f%avorably impressed with the sur
face indications that upon returning
to the hotel I got hold of the princi-
pals in the property, and at 2 o'clock
in the morning closed a deal with
them by which l took an Is months
option on the property, the first pay
ment to be made in six months, with
no money down. At that time
there was not a single pound of ore
visible at Miami, nor was there a pit
anywhere over ten feet deep.
We started in January 1907,
sunk two shafts upon the property.
In May No. 2 shaft struck ore at 20
feet; by the first of June it was in
the ore so feet and two crosscuts at
right angles were driven 80 feet each
way, and we felt that we were justi-
fed in making our first payment. l
then went to Alaska, and when l
returned in October 1000, 900 tons
of copper had been developed. From
that time on development was rapid
so that today Miami has close upon
20, 600, 900 IONS of ore. covering over
so acres.
" In the meantime the people from
Colorado Springs took the Ray Con-
solidated which / had given up, and
as they were the people to whom Mr..
Alsdorf had originally presented the
Miami, by a strange coincidence, we
traded properties as it were, n /
who had started out with Ray got
Miami, and they who had first choice
at Miami got hold of Ray.
I'm estimating the total life and
the present value of any of the 'por-
phyry coppers,' the total ore which
it is expected may be extracted
should be taken into consideration.
the amount that is available for ex-
the amount that is developed. 1t of
course goes without saying that the
lower the grade of the ore the larger
amount one will have to waste, or
leave in a mine, and If care is taken
perhaps some of this may not be
wasted, but in later years may be
treated. Certainly in handling the
waste or failing from the c~oncentrat-
ing mill it is considered the best
practice nowadays to store these tail
ings, as the time may come when they
can be treated.
Roughly speaking, the grade oil
the ore varies from 1h per cent TO
3 per cent. and conditions very prob
ably exist in which just as much
money can be made from a ton of
1R per cent ore as from a ton of 8
per cent ore. Regarding the tonnage
developed, they run into the millions.
1t will take years to get them out,
and 1t will cost millions to get them
in shape to do so.
I those who expect to buy an
unfailing supply of copper at 10 cents
or IL cents a pound | can hold out
no hope. There have been no new
discoveries for several years, and
while they may, and undoubtedly
will, be made. 1t will take time and
many more millions to develop them.
I'm figuring the real cost of cop
per hat must come from these por-
phyry mines the cost OF the plant
must be considered as part of the OPP
Grating expense. 1t is nothing more
or less than operating expense paid
as a lump sum in advance because
when the mine is exhausted. and in