The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-12-29

l;5eo. coo tons OF low grade ore is In
sight ready for extraction and shipment
high grade silicious silvor-load ore biockcs
out for shipment, This ore comes from
parallel assures in the formation. which
range from ciEhi inches 20 four and one-,
strongly, Into the qusrtEite. At points
OF inteThection with cross Assuring. these
assures OF high grade arc sixteen feet IN
width. These nssures arc found In the
shale. and have been developed down TO
the quartEite. depth OF $50 feet ve--
ticaliy. a, which point water Level y
as strong In the quartEite as IN the shalc
above The high grade ore. after paying
shipping and smelter charges. nets the
company about s2i ton.
Some diamond driil work was also
done below the $50 level durins the year
which showed that instead Of finding the
bottom OF the ore Il continues 10 much
greater depths. Since the control OF THE
property was placed IN the hands OF MI.
Smith In September there has been de-
veioped a large amount OF ore.
The company. has erected 90o-ton ore
bins az the mine 30 that the railroad
cars can 5e automatically load ed. 9th
er construction work for the year vas
the erection % a roundhouse and the
building OF three cottages for the men.
The company Is now building an Office
| building and an additional bunk house.
Within short time the company c2
poets 10 start work or new three com
partment shaft. as II Is declared that
the present shaft has not the capacity
TO handle the amount OF ore that the
company expects 10 extract. This work
can be carried on while the shipments
are being maintained.
Work has been started on the fisEure
veins and shipment from these veins
drifts and Slopes are all being retimbered
and placed In shape for work to con-
tinve. This ore II Is expected win run
es sssOO In soia sas asd and q s!lvtr y carries nigh
The principal offce OF the company
viii be maintained at Pfoehe and vtll
be Ia charge OF B. l. Smith. while the
c. Godbe.
The Ely mining district covers a sraau
| cross-range running easteriy and west-
mountain ranges OF the state OF Ne
vada. The lowest or underlying forma-
tion Is Cambrtan quartgite. WHICH has
degrees. degrees Lying above this l' aaartsite is
| a belt OF lime shale OF varying thick
ness. from 200 TO 400 feet. and on tor
thickness as the shale.
The Prince mine is situated In the foot
! hills on the south side OF this range
The ore bed outcrops on the surface for
| a distance OF 500 feet and shows a width
o! zoo feet The main inclino shaft y
| now down 500 feet on an angle OF 90
degrees. and the underlying Quartzite for
nation has just been reached. but as
yet no development has been done In &c
Briefly stated, the Prince consists OF
| two separate distinct mines combined into
one the first being an immense tonnage
OF iron ore. carrying values TO the extent
OF from 20 s per cent lead, three TO
| ten ounces silver and 20 TO 10 cents In
| gold, besides about 80 per cent excess
| Iron over insoluble silica. Owing TO the
| large percentage OF iron present along
| with the lead. u iH especially valuable
as u huH 10 the lead smelters. this iron
/ commanding a bonus over and above the
cost OF smelling. with all the gold. sill
yer and lead values coming In as profit-
] This ore occurs In large deposits In
| the bedded planes OF the lime and shale
and was formed by solutions dissolving
| out certain strata, and replacing them
with ore.
From the tailirgs dump a large amount
| OF ore was shipped during the year. This
has produced the greater part Of tho rev
enue OF the company. II is estimated
| that tho company has left 10000 tons OF
| these fittings which netting the company
IS ton means s36o.o00 In profits. OF 81
U cents a share.