The Calumet news., 1912-09-04
DETAILS OF THE
KEWEENAW PLAN
Basis of Exchange of Stock In
Consolidation is Announced

The official announcement VI '"S
Keweenaw Copper company's PROPOSE
tion is out. II offers 10 give in eN-
change one share OF Keweenaw Cop
per for 20 shares Washington. and
one share OF Keweenaw Copper FOR
every 10 shares of Phoenix. The d.
rectors OF the Keweenaw Copper Co
have also called an assessment OF 81
a share: 81 payable oct. !, 1912 and
81 Jan. IS, 1913.
Together with the other property
that has been acquired by Keweenaw
Copper company. its total acreage in
Guiding washington and Phoenix VIII
be about $4,000 acres considerable
portion OF which is located on the
mineralized zone About $4,000 were
spent few years ago in diamond
drilling the Ashbed lode on the Phoe-
nix property. and the management
feels satisfied that they will be sue
cessful i'm opening mp a large tonnage
II is the intention 10 explore with dla-
mond drills and 10 follow with shaft
sinking. and in this manner open up
a big tonnage of rock. II really
amounts 10 porphyry proposition IN
the Lake Superior district as they do
not expect any big percentage OF cop
rer in the rock In fact, as near as We
can learn. they will be satisfied with
10 pounds ingot 20 ton. II they secure
this. it will show a neat profit with the
latest improved mining and modern
milling facilities.
However from past experience II
has been proven that the Ashbed lode
mas given as high as 16 pounds 70 the
ton and at that time there was con-
siderable loss in the tailings.
with such men as Cole. Ryan anc
the Hoatsons connected with 1t. sue
cess seems most certain when il is
taken into consideration that no one
can possibly deny the fact that copper
exists 'n Keweenaw county. All It un-
ouestionably needs is men Of financial
standing and mining eXperiece and
persistent development work. The
official announcement is made that W |
j. -Uren. formerly general manager OF
Ahmeak. Tamarack and the other Big
Glow mines. viii be in active charge.
Stockholders OF Washington and
Phoenix are given until December |
16th 20 exchange their stock on the
20 and 10 for one basis. respectively
Further the Keweenaw stock given in |
exchange for Washington and Phoenix
shares will be S15 paid, or including
the FIRST installment which is due Oe-
tober 1st.-J a. Minnear & co.
Conditions Are Ideal.
Concerning tho merger the Native
Copper Times says:
Conditions in Keweenaw are ideal
foI the proposed consolidation. There
is railroad. making possible a low
cost for the handling OF supplies, rock
tonnage. etc. there is the electrical
making II practical 10
operate the properties from a central
electric power station, and with these
we have the advanced methods OF
mining an essential 10 the successful
Of the Ashbed lode.
The core taken frcm the Ashoed IN
Phoenix lands. was seen by the writer,
and iu the issue Of Tie Times, OF
June 2lst. 1910, the following was
given rrgardine the same
There has also been disclosures IN
the Ashbed. in the lands q the Phoenix
oomnany, in which the
Keweeuaw copper company own
controlling interest This big lode out
crops on the property and the FIRST |
drill hole. put down 10 cut it was quite
near the stamp mill and the core |
taken out at right angles with the for |
nation shows the vein 10 boz over l-C |
feet wide. and fully 90 per cent of II |
showing coppcr-and not the thin. !
fakv Kind but granular and OF kind /
that VIII count, and which will De east !
Iy saved In the mill For l3G feet 20 |
lrO. the core shows evtdenee OF being |
uniformly mneralized, and from 40 10 |
"G4 feet there is more Or less copper |
showing and on values in this big |
iode may depend largely its success
fm working Tho following from the |
annual report OF mineral staustician |
Charles f. Wright. for 1851, referring |
TO the Ashbed la the lands OF the Peth- |
crick. and ntcr the Ashued Mining |
company. cannot but Doe OF interest:
THE Ashbcd az the Petheriek the |
former name Of the mine. is 0s good |
as an amy poirt az which it has been
opened. and now at the beeiur .ug OF !
tho career OF The new company. 't may
as well work out a solution rf the
problem % now best Co operate The
great deposit
"rhe company has obtained 1874
puurds Of inrot o. the ton. which at
II cents per pound would give 1898
per Ton. and 10 the cost Of mining and
etc. can be- reduced 10
$3.50 per ton there would be- profit
of So cents per ton but anyhow "
500 on 500 tons per day -an be- resulaT-
lv mined and treated, which shall Yield
sE-I00 per cent insot copper the work
can be- done at a profit
Buffalo has been redistricted and
rc,V has 172 election precincts. an in