The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1916-01-08
BONANZA GOLDEN
PEN MINE SOLD
JOHNNY" MILLER OF HAW-
THORNE AND ASSOCIATES
ARE PURCHASERS

One of the biggest and most im-
portant mining deals that has beeh
made in Mineral county since Wing
field took over the holdings of the
Aurora Consolidated Mines company
was consumated this week in Reno,
when ]. II. Miller bought the Gold
en- Pen estate at Rand from the Sat
urno and Ferretto families for HIM
self and associates. To the editor of
the Western Nevada Mixer, Mr.. Mil
Ter stated that at this time he was
not prepared TO give out the
of those who are associated with him
in the deal or the price which was
paid for the property, but confirmed
the deal. However, from Reno we
learn that his associates include the
names of some of the most prominent
capitalists and mining operators in
the west, and the price is represented
by six figures.
The Golden Pen of Rand district,
east of Walker lake, is the property
that has been making sensational
mining history for Mineral county
the past year. With only two men
working, neither Of whom had had
previous mining experience, and
with scarcely any mine equipment,
in the past IL months produced
$50, 900 worth of ore as shown by
the record of the settling sheets of
the sampler and shelters, besides
many thousands of dollars worth of
commercial ores blocked out as re-
serves in the different workings.
One lot of 962 pounds averaged $3.50
per pound; 100 pounds averaged
1854 a pound; 40 pounds gave re-
turns for the lot of $500, totaling
$7,172.06, the balance of the car
load being 20 " tons averaging Sis;
1917 IONS averaged $1012 a ton; to-
tai value of the carload, $~29.305.06.
Mr.. Miller stated that plans for tu-
ture development of the property
had not yet been fully outlined, but it
would be inaugurated on a large
scale. AS a preliminary he took
five men to work on the property
and will take eight more in a few
days and will soon have at least Is
men on the job, getting matters in
shape for the larger force that will
be employed later. He also took
the surveyors over and they are now
engaged in making surveys of the
underground workings. In the course
Of this work they found a new ore
body 1870 feet south of the old one.
1t is from six to eight inches wide
and can be traced for so feet on the
surface and carries values from 5000
to $500 per ton. This find is on the
Lucky Strike No. /. About 1000
feet south on Lucky Strike No. 2, in
the tunnel that the former owners
had driven, about 20 feet in they had
cut an ore-shoot about four feet wide,
being a black commo looking rock
PANIED, it was passed up. Careful
assays taken Of it proves it to be tel
lurium ore and carries average val
ues of $50 per ton. They are now
SUPPLE vi OIS IuIlulH6 lIOIh PcOOO
to $4,000 per ton. Work has been
started on a tunnel for the purpose
of picking up an old ore-shoOt of
high grade. This will give them a
vertical depth Of 100 feet. They are
in high grade ou the surface where
the tunnel was started.
Conservative mining engineers es-
innate that there is at the present
time exposed in the different work
ings high grade and commercial mill
ing ore at least to the value of
$500, 900. Without a doubt it is one
of the greatest mining properties in
the state and will prove a second
Goldfield Consolidated. This deal
means the construction of a mill at
Rand to treat the output of the mine
and the addition of several hundred
miners to the population of the Rand
district.-Western Nevada Miner.