Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1913-01-28
FL Paso aid Southwestern
Men Finish Surveys for
Railroad and Millsite in
Burro Mountains; Savanna
Mine to Be Opened for
Shipping Ore.

silver CITY, y. NJ, Jan. 27.--The
part Of ~ PasO A. Southwestern sur
Ncyors. Phelps Dodge CORPORATION.
which have been finishing the prelim-
mary surveys Tor railroad aud millslto
~ the ilurro mountains, completed
their work Tuesday after being on the
job ten days and left "Wednesday even-
ing for Nacoznri. Mexico. They win
return In thirty days to make the final
locations when work in earnest will
start on tho railroad from whitewater
to Leopold and Tyrone. Il IN also *.
pectcd that work on the l,0OO-ton a
DAY MIL viii start az tho same time.
IN the party were q u. Jones To-
cnting engineer fur the Pholps Dodge
company. and assistants @. y. Hnrri-
son. e. ilckliu T.. \. Gregg. G. Lit
u"iipld. g. j. Hiii nnd .. McClary.
% b. understood that q site nbout
three mise east of Tyrone was select
ed ~ the most valuable Iocntion far
ih' min although the location may ne
changed later ON, depending upon con.
d.tiunS
savanna Copper company.
The savanna copper mining prap.
New Mexico near SILVER city. VIII be
opened for shipping ore o. soon AK
funds FOR The purpose can be- raised
through s1lc at treasury stocG. says
tine silver city Enterprise Consider
able savanna stock is held IN ~ pnso.
silver city and Arizona. and the news
that work Is soon 90 begin viii be.
received with pleasure hy many hold
"rs who have long been wondering
Why nothing WAS being done with
property known 10 be extremely valu.
able and 10 have large copper bodies
Savanna property lies between the
Burra Mountain and Chcmung prom
critics az tho Phelps Dodge company.
ana has as much area al promising
appearance as either of those great
properties. With the building uf the
new branch railway from the Santa
Fe into the liurru copper district. the
savanna ground viii receive direct
rail communication 10 smelters
tn" report of the directors OF the
savanna company 10 the Stockholders
Indicates that the stock remaining IN
the treasury win be- sold To present
stockholders pro rata. az 81 per share
aud ISSUED is nll paid Says the re-
port in part
AT the last meeting Of the board II
WAS decided Co raise funds To be used
Tor the purpose ot iuaugurnting work
for tho dctrlupmeut and mining Of the
ore body shown about lrlu hole SO.
%. Holes ahoui No. SO disclosed ore
and 70 total of seven holes wore drilled
iu this ore without showing thr out
limos of the ore body work of this
character was discontinued as II was
decided that sufficient ore had been
shown a. justify a mining operation
and that further development could
be- better done by underground meth.
DDS The seven drill holes mentioned
Indicate O. tonnage estimated by super
intendcnt !. J. Siauber nt $50. SEQ tons
of 2.9G per cent copper or i.Ogs. 500
tons OF ZIG per cent copper
"'rhe ABOVE tonnage ~ sufficient go
Justify us making the expenditures for
shaft sinking. equipment aud mill
building al tho net profits on the
above grades uf orc arc estimated to
hc from $40 Ca over S. per ton on
~ lac copper market on i1McI
market tho profit N estimated az from
fe.d0 to over 50 per ton There b.
good reason 20 expect that the above
tonnage will be- materially Increased
by underground development work,
wnlrn viii be- carried on Ia connection
with mining
since the Issuance ~ the last re-
port uil part paid stock of the cum-
p1ny haas been acquired hy the COM
pauy nnd dnly tuil paid stock Is nov
outsmnding. Tho present stock issue
b. l2lilG shares; treasury stock U.s.
$50. total POO coo shares
'1Nc option held by Price McKiu-
neg upon tho Pines Altos properties
and railroad was not exercised and the
property reverted 20 the company. One
placer claim has been sold and also
the huildings In the toWnsite % Pinoa
Altos. Leasers have been working