Bisbee daily review., 1913-03-16
ALASKA GOLD
IS INTERESTING
Report on Property Tells
Much About Mining Con-
ditions and Work in the
North.
LOW COST EXPLAINED

The current market letter NJ uav.
den' Stone & Co, bankers for the
Alaska Gold Mines company con.
talns very interesting article nm
the property as follows:
every division of this large project
is up to, If not ahead of scbedrIo
liihe' and everything points to actual
operation beginning the date origin.
ally designated.
When the proposition was orioi,aI
~ examined for us by Mr.. A. K Mo.
Daniel, mining engineer from nen.
Yer, in whom we have the great con
iinente, and whose original reno,t
was confirmed in every particular by
Sne subsequent examination by
messrs. lacking and Holden at the
tlme We finally decided TO purchase
the property, the principal deyelop-
lnent up to then was in what is
known as the Perseverance workings
OF which the principal piece of woTk
is known as the Alexander" cross
cut. This intercepted the ore bodv
at an average depth of about I.5OO
Ieet. The walls of the deposit are
very clearly defined and show il to
on an average about 20 feet wide.
FOR some distance back, however. in
10 the hanging wall there are gold
values and it is believed that the de-
post may show in time to have a
greater commercial width than 20
feet' but for the present that is TAX
en- as the width in all estimates. Now
IO,0OO feet to the east of these Per
EAEQT1nRa"
low them, the sheep Creek" tunnel
has entered this deposit. The tun-
mel has been turned to parallel the
vein; no attempt has as yet been
made to crosscut at this point, or de-
termine its value, but this will be
done as soon as practicable. This
tunnel will be the main extraction
level and will be driven in a straight
line to a point beyond the Persery-
ance workings. 1t will thus open mn
this deposit for a distance of more
than two miles.
1t will also be remembered that az
an adjoining property the Alaska
Juneau, the same deposit has been
intercepted by tunnel, approximate
ly 1000 feet deeper than the ALEX
ander" crosscut. The interrogation
OF the deposit at these widely separ-
ated points and at different depths,
really gives more absolute assurance
of the existence of tonnage than
would the blocking out of a high
grade deposit in a smaller mine By
the usual method. This is because
Of the almost absolute homogeneous
character of the ore.
When, therefore, there is taken in
to consideration the great length on
the deposit covered by this proper
ty, the fact that il has been cut at
different points wide apart and has
had several thousand feet altogeth-
er OF development work on ii, that
from the Alexander" crosscut down
to the sheep Creek" tunnel, and
still further lower down at an ad-
joining property, the deposit shows
similar characteristics, that still
further, at the Treadwell mine, not
on the same deposit, but on a very
similar one, values are being found
at a depth of 1900 feet below the
sea leyel-anyone at all familiar with
mining propositions will realize at
once that the 50.0OO,00O tons that
merely suggestive of what this de-
posit may contain; in fact that the
figures of strong possibilities run in
to such enormous amounts that it is
really idle TO put them on paper.
Suffice it to say. that there is un-
questionably enough ore in this pro-
perty for any operations desired.
In regard to costs, perhaps enough
emphasis has not been laid on the
fact that the estimate Of rs cents
covering all expenses is based on the
actual mining and treatment n about
375,000 tons Of this ore under the pre-
yious management and $4,000 tons
additional last year.
This was done in rather a crude
way, both in the mining and milling
end; the transportation was by mule
tramming, and cost probably at least
twice as much as it will electric
power. The mill was an old 500-IoR
affair and not adapted for the best
results. Even under these handicaps,
a cost Of less than rs cents a ton
was actually recorded for a complete
years operation.
Mining men, who have somewhat
doubted the possibility Of getting a
75-cent cost, are probably not fully
acquainted with the physical condi-
tons, all of which are tremendously
in favor OF the company. There is
no hosting or pumping or timbering,
and moreover. the. ore is of such
character that it is very easily cav
ed, an average Of 100 tons per drill
shift. having been the record OF a
very large tonnage, as against 10 to
20 tons as a maximum for the ordin-
airy mine.
During the winter there have been
about 500 men employed and work
has been steadily prosecuted in all