Gilpin observer., 1916-02-24
MINES ARE PRODUCING GOOD
ORE AND ADDING THOUSANDS
OF DOLLARS TO THE WORLDS
WEALTH-MoRE SHIFTS BEING
PUT ON. ....

Gilpin county is feeling the sub
stantiaa revival in mining that has
been predicted the past two years
More properties are now being op
Grated tlan in any period in eight
or ten years. The Lake district is
unusually active, employing at least
15O men and three of the mines will
put on another shift this week.
The Observer reporter visited the
mines of the Lake district this week
and was agreeably surprised to find
it teeming with ac,Wity and the
management of every property tell
ing of the intention to increase OPP
erations. The work in the Lake dis
trict is not confined to development
-the majority Of the mines making
heavy OUTPUT of good paying ore.
The advance in the price paid for
! copper and silver since the outbreak
of the European war has been a
great incentive in the resumption
of mining operations as low grade
ores that could only be mined at a
loss two pears ago, will now pay a
handsome profit. The advance in
the price of copper amounts to more
than $500 a unit and in addition to
this, the value of silver has increas-
ed. so tfat a fair grade of ore car.
ryipg silver and copper will bring
the producer $40, SIS, 500 or even
more to the ton than 1T would have
brought prior to the increasing ad-
vance in these metals
SUB-TREASURY MINE
One of the steady producers of
the Lake district is the Sub-Treas-
ury, known for years as the Notaway
until the recent termination of litiga-
tion. This mine is being operated
under lease by o. L. Patterson, who
is rapidly placing the property in
shape for THE heaviest production
ever made in it's history. The ore
house is being remCdeled and self
bumper installed to make the dump
ing Of ore into the various bins au-
tomato. The air line run from the
| compressor of the Pittsburg Exten.
sion is running two machines in the
day time and three at night. This
arrangement will prevail but a short
time as Mr.. Patterson DIS arranging
to put in an electric compressor at
the mine.
AT the present time the b-Treas-
ury is producing 140 tons of smelling
ore month and 25 cords of mill
dirt. The smelling ore averages
$55 % ton and the mill dirt $65 to
the cord. Drifts are being extend
ed east and west on the $50 and $50
foot levels and three of these drifts
are i'm ore. TWENTY-FIVE men are
working en- the Sub-Treasury, Is OF
whom are stopping. Friday of this
J week, a night shit of II additional
men will be emp'oyed. Two months
and tie shaft sunk.
PITTSBURG MINE
There lis very little that Is new
to be told about this celsbrated prop
erty. 1t has been in operation and
a steady dividend-payer for years
Every month the sto ckho,ders receive
So in dividends on each 900 shares
and on special occe sons like last
Christmas, the mine becomes un
usually generous and gives the stock
holders a triple dividend. or SIS on
each 1000 shares. The capiializa
tea OF the Pit.sturg is only 1,OOO,.
900 shares, about half of which is in
the treasury. The record of this
mine gives very emphatic affirma
tive answer to the oft-asked ques'
tion, Does mining pay'?"
The shant is being sunk at the
Pittsburg and the Eft will be com
pleted within the next two or three
weeks. Drifts will be run east and
west to cut the good ore shoots above
ard continue the. dividends. Good
ore rs showing in the seiaft, at tim es
being six inchee in width. Assays
of some of this showed 21s ozs. gold
~ ozs. silver and so copper. At ths