The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1914-11-28
SEVENTEEN FEET OF ORE

Continued from PAGE one)
ing to samples taken and assayed
last night, averages $566.1O per ton
in the following proportions: Gold,
PA ounces; silver, 10 ounces; cop
per, SIS per cent. The hanging wall
of the ore body has not yet been re-
vealed. A picked sample of the ore
broken down yesterday in the new
raise gave returns of $~5,224.95 per
ton.
1.-THE drifts being extended into
the new ore body on the shale inter-
mediate "B" level, also known as the
952-foot intermediate level, are
giving a splendid account of them
selves. The face of the west drift
on this level is exposing five feet of
ore assaying $166.2O per ton. With
six feet Of $3.50 ore exposed in the
face, operations in the east drift
have been temporarily suspended.
On the shale "A" level, which is
eighteen feet below the 921-foOt
level, the west drift is being extend
ed in Poleverda territory toward the
Clermont claim of the Goldfield Con-
solidated Mines company on six feet
of $51 ore. Operations have been
temporarily suspended on the 921.
foot level. The east drift on the
S65-foOt intermediate level in the
Velvet claim is exposing two feet OF
$14 ore.
For some time past we have been
shipping two c%ariOaes of ore every
two days, an average of a car a day.
The two carloads shipped yesterday
averaged, according to shovel sam
pies. $91.6O and $114.32 per ton,
We are today shipping an extra car
load of ore. Assays on shovel SAM
pies taken from this a are now
being made. This extra car con.
tains the first ore shipped from the
new raise. The r was, of course,
mixed with the yield of other work
ings, the company making no ef-
fort at sensational shipments. Un-
der the supervision OF Foreman L.
l.. Dellinger, operations are being
prosecuted as expeditiously as is
consistent with thorough and sys-
tematic mining, and there is no gain
saying the fact that the mine has a
wonderful future"
The Jumbo Extension company
has made an excellent showing since
the control and management was
taken over by the Sprague interests
from f. S. Van Dyck and associates
on Nov. "a, 1918. On March 90.
last, the company obtained from the
Goldfield Merger Mines company a
sixty days option of purchase on the
Velvet claim. with the privilege of
prospecting it. The price agreed
upon was $4,000 in cash and ILL.,
900 shares of Jumbo Extension
stock. At the time the option was
obtained. an initial payment of
$4,000 was made. Within sixty
days thereafter sufficient ore had
been opened up by the drifts into
the Velvet to pay off the cash con-
sideratiOn for the claim. On April
% the second instalsment, amount
ing to $4,000, was paid to the Mer-
ger company and thereafter monthly
installments of $1,000 were paid for
five months or until October. The
October installment was due the
twentieth but was paid on the six
teenth. On October %, or six days
later. the company %liquidated the in
debtedness by paying in a lump sum
the balance of 100000 six months
in advance of the date fixed for the
payment of the final monthly INSTALL
ment of $4,000. On October % the
company declared a dividend Of five
cents a share, payable on December
Is to shareholders of record on
November 20. The dividend will dis
tribute among the stockholders a
total of $62,500. 1t is the second
dividend ever declared by the COM
pany, the first. amounting to $97.-
1850. having been disbursed on
July Is. 1911. from the proceeds of
the sale of the Vinegarone Fraction
claim to the Goldfield Consolidated
Mines company.