Arizona republican., 1915-03-21
Miami

Miami
 The following information regarding tho Miami Copper property IS con taned in circular just issued:
 "The property comprises 222 acres of patented mining claims. 555 acres held for q mill and power plant. and 345 acres for water rights, all in the Miami district about miles west of Globe, Arizona.
 The claims show an area of silicified chist at or near contact with great intrusive body of granite known as Schultze granite. The altered chist belt averages about 1200 fl. in width and has general east and. west di- rection. This ore zone is oxidized and ieached for an average depth of 210 1t. Below this ]eached belt occurs the zone of disseminated or so-ca}led 'porphry ore in which the copper occurs in the form of chalcocite. The ore varies in vertical thickness from 100 1t. to 400 fl. The ore has been developed by shaftA, drifts, and drill holes and shows as fol- lows:
 Per cent.
 Material Tons Copper Rich suiphide ore. ... 20.000,000 2.20 Low sulphide orc. ....17. 100000 1.20
 Total sulphide ore. 37 7,000.000 1.S5
 In addition to this there are 5000. .000 tons of mixed sulphide and oxide ore of an approximate grade of per cent copper.
 The mill consists of six sections each capable of treating 500 tons a day. These are now in process Of modified ton so that by the middle of the year 1915 each section will economically treat 700 tons a day. thus giving a to- tai capacity to the mill of 4.2O0 tons per day. This change in the mill will not only increase its capacity but also, by improved grinding and concentrat- ing facilities. will enable it to increase tho extraction four or five pounds per ton of ore treated. Three of the sec tions are already changed
 The mill produces copper con- centrate carrying 70 per cent copper. which is now being shipped to the new International Shelter of the Anaconda Copper Mining company. distant about half mile. it having been especially erected for the smelting of the Miami and Inspiration concentrates.
 The last dividend was paid August 10th. 1914, after the European war had begun. and the dividends which norm ally would have been paid November h. 1914. and Feb. 15. 1915. were omit ted. The estimated profit for the year 1914 is in excess Of the dividends paid for that year.
 "A statementof quick assets as of March ,, 1913. showed a surplus of s1.0O9.767.
 Tt is estimated that when the re- modelling of the concentrator is finished that the property will he able to pro- duce at the rate of 50,000,00O lbs. a year. and. on account of the extra say ing in copper. at cost not to exceed s cents pound. With copper selling at 14 cents pound this would make the profits cents pound. or $3,00O, 900 a year, equal to trifle over s4 per share.
 An interesting state of affairs ex- ists at the east end of the mine where the ore is terminated abruptly by q fault, the overlying Gila conglomerate having slipped down and cut off the ore There is every geological reason to believe that the ore extends to the east of this fault
 The management of the property is in excellent hands. it has a long time con- tract with the new International Smell ter Tor the treatment of it's concentrate. and 1t sells it's own copper. It is a property of demonstrated worth with most excellent prospects in the future for increasing production and decreas- ing costs