The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-09-16
||ES OF MANY ME|V
/ ON GRIZZLY BEAR
Con. and Atlanta
4 Getting Into Position to
Sound Depths.
AEANS A NEW MINE
Itlanta Expected to Become
i Close Competitor of Fa-
NOUS Consolidated.

vi We cali your attention to most import
Mt developments now going on in the
: &-unertles OF Goldficld Consolidated and
1thnta. the importance OF which must
N estimated in the light that at least
<ae additional. IL not three, future great
hInes OF Goldfield, are now in the MAX
kE. say Weir Brothers & Co. Of New
fork.
The most important of these develop
>nents now taking place is in the Gold
nIlod Consolidated ground, in the Grizzly
Bear shaft. Briefly stated, this devel-
rpment is at the 13oo-foot point wherein
mammoth body of quartz has been
/, 1pened up Its mean width, between
snsing and footwalls, is not yet deter
lined. but at this writing is known to
ID at least fifty feet wide. This new ore
scoveIy. made May |. 1912, has al
most from that day been furnishing
hge earnings to the Goldfield Consoli-
xated, on account of It's richness In gold,
oDper and silver. and the ores from
h1 Grizzly Bear are being daily shipped,
xith increasing tonnages. TO the Inter-
|onal Smelling Il Refining company's
Dlant. al Tooelc, Utah.
clnce tuis ne" dIu important QlScoV-
NJ, II is noticeable that GoIdfield Con-
Nolneted stock has gradually sold down
b s3S?t per share but this doubtessly
Attributable TO the fact that the June
Nd July net earnings Of Goldfield Con-
<!idated have yielded the smallest re-
llts since the enlarged opera tions Of
q1e plant have been In vogue.
developments Pending.
The results Of a declining market in
poldfeld Consolidated stock, under such
ambitions, may be justifia BILE, or may not
III entirely depends upon the specula-
Ts viewpoint. II Is true no wise in
TEtor or speculat tor wants 10 be the last
nc 10 sell out II indications point to a
snlng ore reserve In the mine. Against
lis. however. We call your attention to
NE world Of vast developments con-
!2nty going on in this large area Of
lf5in territory, which for general scope
generalization and consistent values
gold has seldom been found else
Uhere on earth.
In discussing this important subject
ore reserves we constantly have In
mud the last annual report l9ll-12 of
1oldfeld Consolidated. wherein Superin-
'endent J. +. Thorn gives the mine an
F<limate OF 100000 tons OF developed ore.
Qr on the present monthly tonnages OF
round 10000 tons, equal 10 two years
|lpply. 1t is further known 20 us that
"yner engineers Of cminence associated
Tlth The Goldfield Consolidated manage
,ent gave the mine at the date Of the
|pcve report unofficial estimates OF 700,-
tons OF developed ore. II this ore
'n maintain its past averages of around
~ net profits. II means moro than SO. so
1'ef share dividends against present SELL
Ing price.
is noticeably true that the past two
months nave shown just better than $40
PEI Ion. net profits. which In our iudg-
Nlent. does not pretend 10 represent fu-
Lfe value OF the known ore reserves.
The fifty-fivc miles OF und nderground
Uprkines OF this property Oess than 100
perflcial acres out of It's total OF $50
res there now remains standing in
ne slopes large tonnages OF bigh- grade
.e which will be mined as eXpediency
-nd mining economics demand, and from
Fn results, the ore values are most
Beg 10 maintain their normal profits,
s to the Atlanta.
y is. however, 10 the Grizzly Bear
oikings. wherein this gold-si!ver- cop
sr content Is now coming from. which
ns iair 10 give to Goldfield Consoli-
aaen one OF It's greatest and if not
ost valuable assets-d new mine itself.
Seopment so far indicates this new
MSy pr,S Sea Scar orc body viii go to great
pin, and it ts these developments in
po Grzzly Bear shaft which are vlr-
qslIy making OF the Atlanta property
1tngther large mine. From out of the
'nzzls Bear Shaft to the northwest Of
thsu'a, and from the Goldfield Merger
,'nes company shaft TO the northeast.
agla sinking preparatory to crosscuttiug
uAo the Atlanta ground TO the almost
nown ore bodies, is now being heavily
,his Development Is matter OF Off
1n, N, record as shown in Goldfield Con-
snnaied monthly reports 1t is also
~ mat this ore body Is such a large
I'e u'at II will require some few weeks
,~s 70 more fully develop It's maximum
',psppoItancc. Sufficient is known Of il
IN hasauf 70 presage the belief and warrant
TX *,v speculation that the Atlanta ground
~ n,erry this ore body on It's dip. We
theeplng very close personal wa tch
.nese developments. and arc prepared
te IN our judgment. that the work
I'M 'ne i Grlzzly Bear or Merger shafts
rn, ~ Icad TO the mining of orc In Atlanta.
tts'no "a not later than February |, 1919.
are also strengthened In this opln-
10y Dy sil biologists and engineers con-
|no,p, ~ with the situation-all to the
SI l,s mat the Atlanta groun1 will likely
Mr. iiane inc next big mine OF the Goldfleld