The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-10-21
to the mill was SO9.53 per day.
Ore Reserves,

Ore Reserves.
On July l, 1915, there was bloeke,
out and in sight above No. level or
tonnage enough to supply our mil
four years at the rate of our presen
production.
The principal feature Of our deye,
opment work during the six month";
mas been the ore body being opene,
up IN the east drift on No. level
which is putting additional tonnage II
sight each day. Development worl
has also been done OH the Callaha,
vein, which is a very regular body O
ore both in size and grade, and give,
promise of developing into an import
ant ore reserve, not only on the pres.
ent level, but with depth.
A crosscut has been driven soutt
from point opposite the No. 33 raise
for the purpose of exploring our pro.
perry to the south.
Condition of the Mine.
ID. F. Haley, consulting engineer
enumerates all the various changes
and betterments both underground, on
the surface and at the mill, and of the
condition of the mine says:
In the mine all the slopes above No
4 have been worked constantly.
The ore above No. is getting very
thin as we go up towards the surface
and we do not expect much more
height on this stope. The Slopes
Nos. 3, 81 and are in excellent con-
Idition. We have opened up the ore
on both levels Nos. and 6, which are
I225 and $50 feet respectively below
level No. 4. The main ore bodies are
found on levels Nos. 5 and 6 in as goo6
a condition as we expected. In add.
ton to this we have encountered or
No 8, south Of the porphyry an orr
body which in our judgment is to be
considered a new ore body, independ-
ent of those known heretofore, and
which adds materially to the value OF
the property. This ore body has now
been followed 80 feet, and shows no
sign of playing out The ore has beer
very regular from to feet of solid
ore, and the vein is as open and fs
sured as any place In the mine. Three
samples from the whole muck pile
broken down assayed as follows, Lead
so per cent, Al per cent, 6.S per cent
Zinc PA per cent, 34.S per cent, 3S.2
per cent; Iron, 81 per cent 6.S per
cent, 60 per cent. In the mine every
thing looks good, and prospects for a
long life were never better.
Taking it as a whole, I consider our
mining and milling operations are be-
ing carried on as economically as it Is
possible to do. and that for the year
we have shown consistent progress
With the completion of present
changes we will be able to show the
highest recovery of any zinc mine in
the United States handling ore of sim
liar quality.
Financial Statement.
Treasurer Percival makes the fol-
lowing financial statement covering
the fiscal year.
Income.
Sale of ore and concentrates
Lead ore, 246 tons. 6,45O.68
Zinc ore, S473 tons ... 421,237. 81
Lead concentrates 1858
tons .......... ....... 90,095.79
Zinc concentrates, 3O,6S1
tons .......... ......... 1928, 81
Total, Al, 963 tons. . $2,146,2S2 .95
receipts 80. 14,S94.5S
Expenditure.
Mining and milling ...$ 40 966. 66
interest ....., ..... 1SSS7.85
mine buildings 124362S
Cost of ore hauling equip
ment, new mill and 9TH
err property ....... 2S,6S5. So
Cost to date of remodel
ing mill ................ 38,47S.O1
$50, 4O4.3S
Surplus for year .......$1, 591,773.15 !
Surplus from last year
Proceeds Of bonds sold :. 30O,O00.00 |
Less deficiency in earrings 99,31364 |