Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1913-09-04

rotten be disregarded BY men Of
means, when IT is possible ia so may
cases TO select real mines. which are
as safe a place for capital as any
manufacturing concern one can think
o. The mistake that is commonly
made is in not centering ones atten-
tion upon the question of ore, which
when once proven, is the most solid
asset that can be imagined On a
smaller scale the existence of ore
assets in the Pioneer mine is just
as certain as it is in the case of the
Homestake 50 far as 1t has ad
vanced, the camp is just as solid as
Tonopah or Goldfield.
when went to Pioneer did
not expect anything extraordinary
but the extraordinary was actually
found there. You probably recall that
the new mill is made up of equip
ment secured from two other plants
in the Bullfrog district. but the plant
shows no evidence of this whatever.
The machinery was virtually new,
and the works are Of entirely new
design built on the best metallur-
gical principles and operating as
smoothly as anything ever saw
The day the plant started there was
not slip In any particular and no
delays have occurred Since ! re-
turned to Denver word has been re-
ceived that the ten stamps are drop
ping beautifully. OF course, some
troubles We're expected, but they
have not materialized Engineer
Buck, who superintended the work
under the direct management Of
President William ], Tobin, has given
a demonstration Of superior ability
and understanding OF his responsible
tiles am satisfied that the regu-
lar shipment Of gold bars will start
in thirty days and continue here
after.
There is no doubt about the ore,
The net profit in sight is easily in ex.
cess Of the amount necessary to re
deem all outstanding stock at the
present market price of the shares
The recent report Of MIR. Turner, the
engineer. concerning the ore re.
serves, was very conservative, ex'
aetly as the management desired it
should be.
with the disposition TO investigate
the matter very thoroughly, ! tool
the assay map of the mine and
checked It up by numerous samples
These reduced to twenty anc
brought Back to Denver for assay
The lowest result wos 1857 a ton
and the highest $1S99l, the averag,
being $2921 One ore body in the
shaft, extending to depth Of 16'
!. feet, affords an exposure which aver
ages $267O, evidently enough ore fo
one years operation Of the mill; bu
this was not included in Mr.. Turner
estimate of actual reserves, becaus'
It was not exposed in the engineer
sense. There is undoubtedly enougl
= ore Immediately available to run tn
! 40 ton mill for two years There i
: a 100 foot outcrop which may b
measured from the surface to tn
65 foot level and contains excelen
Q ore. This was not included in Nj
Turner's report do not see hoy
the ultimate development can fail t
make a much greater mine than it
'i now.
% "The greatest depth of the mine
y now 40 feet. The water for tn
= mill is pumped from the mine int
~ tanks. which contain enough waite
Il for two weeks run Even if ther
~ we're any likelihood of needing NOR
water than the mine can supply,
. would require only small inves
ment to lay pipe line and secul
~ oceans of it.
Now, you see why | speak of sue
mining investments as thorough
safe. Where there is ore and ma
agement the rest is easy"
The new mill operates ten stamp
but the number can be easily /
creased. The pulp first runs ov'
cd amalgamation plates, then throug
le Pierce amalgamators and finally
cd the cyanide teaching tanks, slime +
he ters and zinc boxes. Mr. Pettigre
Idt returned only this week from n
Nv. vada and he was accompanied
he Richard f. Tobin, the company
pe treasurer, who is equally well sat
ite fled of the final success of ventu
III which has had many things to ov'
come