The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1914-08-22

COnSlueTdDlc Improvement, anu d
very large tonnage Of ore is now
available in this vein on and above
the four levels on which it has been
opened up for a considerable dis
lance by east and west drifts. Rails
ing on the vein is in progress on the
900-foot level of these workings, this
raise also exposing a width of 8 feet
of very good ore.
Tonopah Elk.
The official returns from opera
tions of the Tonopah Extension Min
ing company in the month of June
show that gross receipts amounted
to $~74,473.5S and expenses totaled
~$45,947.46, leaving net profits of
$2S,526.12 from the milling of 5636
tons of ore, representing a net profit
of $500 a ton.
These are the highest monthly
profits ever earned by the company,
the previous high record having been
reached in April last with net profits
of $2S,409. The actual production
of bullion in June exceeded that of
April by 1856 ounce hut the aver
age price of silver in April was
5S.519 cents an ounces as compared
with the average price of 56.471
cents an ounce in June, the decreas-
ed price making a difference OF
q a ~ X41 I1~~ r~Jy,n
ton of 111,S73 ounces
The settlement for the last ship
ment of silver, representing the finai
cleanup for the month of July, was
made 1T 5O.52 cents an ounce and
the total production for July will
amount to about $1O2 600, and as
Stunning that expenses for the month
amounted to $4,000, net profits for
that month are estimated at about
$4,000, and indications are that the
gross production for the month OF
August will show an increase ver
these figures, assuming that the price
of silver does not fall below 90 cents
an ounce.
TOnopah Mining Co.
The report of the Tonopah Min
ing company for the month of July
shows an increase of 246 tons of ore
milled but a decrease in values OF
$500 a ton and a decrease of $9365
in net profits as compared with the
month of June. The above net
profits are, however, only estimated
as the final cleanup of the mill for
July has not been sold and the bull
lion has been temporarily stored and
it's value has been estimated at a
conservative figure.
Very little change has occurred in
the underground workings of the
Tonopah Mining company's proper
ties in the past week.
Monarch Pittsburg
C~rosscutting northwest on the
1100-foot level of the Monarch Pitts
burg property is now in progress in
the vein which has been penetrated
for Is feet and only one wall expos
ed.
This vein dips at the fiat angle of
about % degrees and occurs in a
contact of Montana breccia and West
End rhyolite, the same as the Muir
ray vein of the Tonopah Extension
and as in that property, the rhyolite
and quartz show considerable guam
titles of pink manganese, justifying
the belief that further exploration
will disclose commercial ore.
The directors of the company have
postponed the date of the delinquent
day of the assessment to September
14th.
Great Western Con.
The south crosscut on the 400
foot level of the Great Western Con-
solidated Mining company encoun-
tered this week the downward extern
sion of the vein cut in the sinking
of the shaft.
At this depth the vein is from IS
inches to 2 feet wide carrying low
values with s%tringers of quartz max
ing into both walls and when drift
ing is starated or greater depth at
tanned it is probable hat better val
ues will be encountered.
The directors of the company have
now postponed the delinquent date
of the assessment to August 25tb
and the date of sale of delinquent
stock has been postponed to Septem-
Der 18th.
Buckeye belmont
The northwest crosscut on the
1200-foot level of the Buckeye-Bel-
mont mine west of the shaft has now
passed through a width of about IA
feet of quartz carrying values of
$3.50 a ton in silver, and 81 a ton in
gold, and the further development of
this vein is now in progress.
Good progress is also being made
in the sinking of both wines, Nos.