The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-12-16
THERE IS MONEY
IN SILVER MINES
Nipissing Keeps Pegslng
Away Despite Low Prices
of the Metal.
BIG SURPLUS ON HAND
Work Started on the New
Mill Which VIII Reduce
Production Costs,
BIG SURPLUS ON HAND

Tha declaration on Monday OF the reg
Mar quarterly dividend OF per cent. and
an extra OF y per cent, by tho NiptssinG
company was noted at the tlmo in these
columns. but no figures as TO treasury
condI.>.as were then available 10 the
wcsterH shareholders. II appears as OF
December that Ihe treasury held ssf9-
oSo cash. and bullion and shipments en-
,oufc 10 market were valued at enough
Ia bring the total 10 sl,ol7.5ei. There
was ore on hand at the mine awaiting
transportation valued at si0S,sso. bring
ing the total TO S1,t2i.iis.
In discussing the present shape OF tn,s
noted silver producer Thompson. io"le
& co. have the following 10 Say
November Output
Noyeuber production at Nipissln6
amounted to io3.ioS ounces OF slver,
Valued a s22J 9oi. against snlpmenls
ydiued at S2iS, 1851. One OF the most I'M
portant pieces OF work undeI,ake, az, w
ing tho month was the grading AT INC
new mill which r. under cohstruc.tolI.
This plant, which should be IN oper3lloHf
in October 1912. is 10 have n capacity ol
During the month important develop,
ments were met with at veins 80. lVV ana
SO. At a. between tho SECOND ano M Mlh.rn
levels. in q raise which had been driven
10 a height Of So feet, the vein Tor "a a
large psrt of the distance ass9yed lsVV
ounces over n width of four inches. me
lode al this point fauitcd. and In cross
cut. which is now approaching. the Veln
silver is already coming in. owing 70
This fault. AT certain places ON me looe
there will be a. much As 20 iSe, o, T,0ps
rich, at present disclosing three inchcs OF
1900 TO 1900 ounce ore. The management
believes that large amount or h,gh
grade ore will be obtained in stopping ne
iueen the second and first levels on this
vein.
High Silver Values.
The new stope on the 200 foot level OF
the lode here averaging Sooo-ounce ore
over n width OF two to three inches:
ON the level the shoot has length OF llo
feet bit Is increasing IN le9stnh ho as Sow "
Developments on this vein has been inc
drifting for 80 feet on a stringer which
turns at right angles to the main vein.
OF 950o- ounce ore. s raise. which is up
32 feet between the first and second
levels has disclosed over the entire dis
taDcc 2Qoo ounce ore over width OF Two
From vein No. lol a crosscut is being
driven close 10 the Trethcwey line Inat
company has reported The discovery OF a
o-incn vein Of high grade ore. which,
it1is expected. will be encountered on
Nipissins ground in the crossout, within
amount OF development has been done in
that area, shc vein has heretofore not
been discovered, At vein 81 a new stope
has been started AT the third level on a
shnol of orc which has 2 length OF 90
feet and averages 1900 ounces over a
width OF twelve inches.
Most OF the new construction at the
Never was finished during the month,
giving complete surface equipment a {
this shaft. which heuceforth is to be the
mAir hoisiing shaft for the Town area.
All ores from the various veins in this
sociion arc now being tran1med 10 the
SHAFT and delivered TO combined jigeins
and picking plant.