The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-02-13
Minnear & Co.'s Gossip

| Dumth--A comprehensive and con-
servative report of the Summit Cop.
per company's property in Arizona has
lust been issued by the engineers
Pritchett and Hamilton. To the Presi-
dent w. A. Eaton and board of direc-
tors and copies have been mailed to
the stockholders. The report bears
the date of January 3Oth. and there
fore is not fully up-to-date on the re-
cent important developments in the
south drift on the Pasquale vein. The
Summit mine has estimated ore re-
30th. The estimate is made on bas-
is Of 12-cent copper and concerns ore
that is exposed and can be measured
up To the extent of $79S,624. The mod
est addition of a little more than
S2OO. 600 represents the ore reserves
At the time the report was written the
high grade ore shoot in the Pasquale
vein south was only six inches wide.
II has since widened 10 three feet.
This ore shoot was duplicated on the
3OO-foot level by the former owners
and is now developed on the 40O-foot
level. which is good enough evidence
that the ore extends from the 800 to
40O-level Daily announcement is eX-
pected that the high grade ore has
been encountered in the north drift
OF the Pasquale on the 4OO-level. Two
raises have been started i'm ore on the
third level of the Pasquale The Pas
quale and Summit veins have every
evidence of promise and it is said that
they can be mined profitably 10 great
depth. The veins can be traced on the
surface the entire length of the prop
erly a distance of one and one fourth
miles The engineers recommend
that the high grade and low ore be
mined at the same time, for purposes
Of economy. They are now consider
ing the matter of treating the low
grade ores of the property and expert
ments with dry concentration and
other methods have been made. The
engineers expect to recommend the
of a 100-ton plant for the
treatment of the low grade ore by one
Of the methods within a few weeks.
The report on the Summit property
news maps and data of var
ous kinds. Altogether it is very elab-
crate document. Developments at the
Summit mine up TO the present date,
when considered in connection with |
the report Of the engineers make it
plain that the stock at 20 cents is en-
titled to a large advance as an invest
nent. and that the speculative pos
5ibilities are very great.
The January Lake output is esti-
mated at l7,G14,3S5 pounds of fine cop
Der as against 1S,9575S3 pounds in
December Since July 1st, 1910, the |
Lake estimated output has been 12S,
l40,573 pounds as against 140642.0S |
in the corresponding period Of
he preceding year.
Arizona Commercial had two drill
'orcs from the 1,2OO-foot level indicat
hg the cNlslehCe Oh heaNy SulpHlue
IRE body.
The recent report of the GirouX is
for the sharp decline in |
he stock. OF the total tonnage of
100000 tons blocked out by churn |
irilling to date, 100000 tons only |
averaged Ill per cent, and 100000 |
only $50 per cent copper The report
JAILED to state whether this was avail
able for steam shovel. 1t is pointed |
Dut that if its extraction is dependent |
upon underground mining il is diff |
cult to see how the company can
)roftably extract this ore with copper |
Hing at 1914 cents