The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1914-01-17
GOLD CIRCLE IS
MAKING HEADWAY
MINES IN SQUAW VALLEY DIS.
TRICT REPORTED TO BE
SHOWING UP WELL
Special to the News and Tribune

COIlGS lIOIu OOlu SlIOAS that Nv
Elko Prince mine has been closed
down pending negotiations now on
between the VIM. Q. Ranft Develop
ment company and the Savage in
terests for the purchase of the mine
on a bisis of 6Vc per share. Leslie
NJ. Savage was in Midas about the
middle of December and left for New
York just a few days before Christ
mas, with the new proposition under
consideration.
The Elko Prince was bonded for
S1.O0 per share, according to the
information given out by Savage
when the New Workers took the
mine over July /, 1913. The Ranft
syndicate installed a 50-horsepower
hoist and other equipment and sank
the main shaft $50 feet, besides do
ing a considerable amount of drift
ing on the 800 and 600-foot levels.
The result of the lateral work has
proven very satisfactory, having dis
closed an extension of the o%re-shoot
north of a barren zone On the 800
and also developed a fine showing
south of the shaft IN the GOO level,
where three feet of ore ~assaying
above $500 per ton was struck.
AS there is much more ore in
sight now than when the deal was
made last summer, it is hard to see
what inducement Savage would have
tC accept 40c per share less than the
original price, unless a cash offer
We're made. The original bond was
reported to cover a period of eigh-
were to have $4,000 shares of Elko
Prince stock in the event they fail
ed to exercise the option.
Strikes Orc Beyond Fault
In the east end of the Gold
Circle district the Eastern Star
mine, which lately has been in the
limelight because of the rich ore
encountered on the second level, is
doing some prospecting beyond a
fault that was encountered on the
tunnel and second levels, and has
again picked up the vein and en-
countered ore of milling grade. The
ground within the walls of the fault
fissure was found to be very soft
where it cut the vein on the second
level and it was necessary to make
a detour into firmer ground on the
hanging wall side of the vein in or
der to get timbers to hold.
After passing through the fissure
the drift was turned into a cross-cut
to the east, following the south side
of the fissure. The vein was struck
at a point 40 feet from where the
cross-cut started, and about 25 feet
from where the vein was cut off.
The ground near the assure was
broken up but contained boulders of
ore. Drifting has proceeded about
90 feet and the ground is more solid
and the values better. The vein has
also been located still farther tt the
south by a prospect shaft that was
sunk near the portal of the tunnel.
This development is considered of
great Importance by the manage
ment, as it promises to add a new
ore-shOot to the ore already blocked
out.
The Eastern Star Mining company
is said to he in no way affected by a
suit that recently vas filed in Carson
City by the estate of Malcolm Mac
donald against A. j. Stinson and w.
M. Kearney for the recovery of
$4,000 and 100000 shares of stock
in the company, the matter at issue
being me of a partnership which is
claimed existed between Malcolm
Macdonald and Stinson. Kearney,
who is state engineer, is Stinson's
son-in-law and is said to have receiv-
ed his stock in the company from
Stinson. The Eastern Star Mining
company is made a defendant as a
matter of form required by law.
Rex Gets Ore on $50
The Rex Reduction company,
which is operating the Rex mine and
mill under lease and option to pur-
chase, has struck the Rex vein on
the 150-foot level and is now open
ing up stopping ground in order to
provide ore for the mill, The Rex
shaft is 200 feet deep and was in
bad condition on account of an eX-
tensive caving of a large stope on
the 1OO-foot level, which let the
ground in clear to the surface. The
shaft was retimbered and a cross
cut will now be driven to the vein
on the 2O0-foot level. B. p. Howell
and Parker Liddell, who financed
the Rex Reduction company, also
own the Judge claim, which adioins
the Elko Prince on the south and
has struck the Prince vein. Develop
ment work is now under way in the
Judge, which will help supply the
mill with ore.
The Rex mill is equipped with five
L.I-