Valdez daily prospector., 1912-10-02
ANOTHER MINE
 FOR JUNEAU Development Work is Expected to Bring Business to Se-
 attIe

Four million five hundred thousand dollars is to be spent in the near future in the development of the well known Perseverance mine property near Juneau. It is one of the largest mining deals that has ever been made invOlv- ing Alaskan properties, and has just been c0nSummated in the east. It. is said that the devrlOp- ncnt of this property along the lines recently announced means that another plant rivaling in size that of the Trcadwell mine, will be built in inc north. and that the deal means that 1000, ,OOO' a year additional business will br done in Seattle.
 The control of the PrrSevrr- ance property has passed into the hands of a new company, known as the Alaska Gold Mines c0m- pany, which within the past three weeks has sold in Boston and New York all the stock. This money iS t0 br used in building a mill at Juneau. which will at the out set llaN" q ihnusand stamps: in the erection of a hydru-rlrrtric plant. which will cost more than il half million dollars. and in the boring of a .O00-fnot tunnel through inc mountain from inc Silver Bow basin fn the mouth of Sheep creek on Gastinrau chan incl.
 Details of the plan to develop the Perseverance, property and the construction of plant which will be practically as large as that now in operation at the Treadwell mine, had been received in Seat tie within the past week. It has been known for some time that an effort was being made to obtain the controlling interest in the Alaska Gastineau company, which owns the Perseverance property, but it has been only recently that the full scope of what is to be done has become known.
 Largely through the efforts of B. l.. Thane, of Juneau, a con- s0lidatiOn of the Alaska Gasti- ueau company, with adjoining claims, water rights and apex rights in the Silver Bow and Sheep Greek basins, have been effected. MP. Thane spent some time in England lining up stockholdcrs and obtaining their consent to the sale Of the property to the Alas ka Gold Mines company. Having strengthened out inc cOmDany's affairs, the Boston firm of Hay den, Stone X Co. sold $500, ,OOO worth of stock of ihn Alaska Gold Mines company, which is io op- eratc the mines.
 D. C. Jackling and A. F. Hold ,"n, prominent mining engineers, who have been identified with many well known copper mine propositions, will have charge of the Perseverance mine. The re- port of these engineers made re- gently states that the PerScvrr- ance ore body is i,50O feet long and 70 feet wide, and that if con tains at least 5O,00U.OOO Ions of ore, having an average value of Si.5O per ion. While thc orc :. low grade. The company cypccls to make money by operating on largo scale, running through inc !niIl 6,O0O tons per day. or 2.OOO.- O0O iOrS per year.
 Tho Perseverance, minc has hccn worked for several years. h iOO-siamp mill has been op- grated for four Or five months every year and has turned out about Si0,000 per year. The mill is located in the Silver Bow ba- sin, about four miles from Ju- Hcau, and is rather hard to reach and operate economically. The plans of the new owners provide for the new mill to be built on tide water, just south of Juneau. -Post-Tntelligencer.