The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1912-06-06
COPPER RKINGTUNNEL NILE LONG

The management of the Copper King Mining aud Smet
ing company under date of June has mailed to te stock
holders circular letter containing both financial and ply
slcal report The letter is in part as follows:
1T has been dscouragng to of the stockholders OF
the company that it has taken greater time to develop the
property in the lower tunnel level than at first expected Yom
board OF directors wish to this respect that the job Of
driving the lower tunnel greater undertaking than most
OF the stockholders realized The tunnel is than mile
n length being 1926 feet and those of you who familiar
with mining operations will at admit that drive of that
length underground cannot be accomplished without the
penditure of much time and large of money We be
lieve however that this company has completed the work
IN as short time possible at minimum expense The to
tai moneys expnded amount to DBL Our buildings and
machinery and miscellaneous property you will note by at
tached statement have value of $5S5sl This deducted from
sum of expenditures brings the actual cost to 1885 per foot
we believe to be reasonable view of the unlocked for diff
cultes encountered during the progress of the work.
The stockholders should feel highly encouraged over the
fact that the long tunnel is completed and direct
effects to the development of the ven great deal has
already been accomplished in this part of the work. and your
directors we'll local stockholders who keeping in d
rect touch with the work. feel highly encouraged the show
ing made. We have recently encountered shoot of
siderable promise 1t is perhaps 100 feet long and from 10 to
IL feet in width nthe widest place. Assay samples taken from
this follows: No. (pcked 10 per cent "copper" 11
silver 4S per cent lead No2 silver 81
cent Lead SO per cent znc No. s. 10 ounces silver Isl per
cent lead; No. a silver, 55 per cent ead No %
silver per cent ead No. 636 silver 1863 per
cent lead 81 per cent zinc.
The shoot from which above samples taken during
be blind shoot that does not oucrop the surface
and the present tunnel level appears to be just crossing through
the top of it, Arrangements being made to sink Wine
this ore and before this letter reaches you the work will be
well under way So far have followed the ve is strong
and well defined and true fssue cutting and slearng the
formation do all the mineral bearing OF the district
In the heading at the present writing the vein shows nearly
feet wide and has strong iron foot wall which cbaracts
tic Of the mineral bearing portions of the vein in the upper
levels According to have recently had completed
the shoot should down to this level about 200 t
800 feet in advance of the present heading In addition to sink
ing the wine the already encountered will also ad
the heading along the vein to the survey point where we
expect to encounter the shoot at great depth wch
we have developed in the upper levels.
The present work being done for much less than the cost
of driving the main crosscu the development being done
by hand which is much the cheaper method, compared with
machine work Your directors also wish ito state that the min
employed at the property well enough pleased with the
showing made far that they taking half stock in payment
for their work at the rate of 4 cents per share.
With the present assessment will be able to continue
the active development of the property for at least year with
out further assistance from the sockhoders with which work
we hope to put the property self supporting basis In TIN
regard may be we'll to state that it is the policy OF the
pany to return the stockholders the money they have i'll
vested on assessments with the first proceeds from the mine be
fore any other provisinos are made for the future