Mohave County miner., 1916-09-09

the Chloride branch of the Santa Fe
 railroad. It also purchased 13 addi-
 tional claims in close juxtaposition.
 The two tracts of ground are of 120
 acres and of 200 acres, respectively.
 The company was able to acquire the
 control of the Copperfield Porphyry
 Mining company for the sole reason
 that the controlling owners had reach
 ed the end of their resources in de-
 veloping the property. Practically all
 of the development work done to date
 has been confined to 16 acres of the
 120-acre tract.
 It is a remarkable fact that with
 little or no means and at the expense
 of only very small sum, which was
 raised almost entirely locally, tunnel
 was driven, two shafts were put down,
 and two drill holes, and that with this
 modest amount of exploration every
 working was bottomed in ore and a
 reserve indicated of 2,5OO,OOO tons of
 ore, of 1855 per cent copper, equivalent
 to 37 pounds of copper per ton of ore.
 Multiplying this by the possible
 tonnage gives a total of 92,500,00O pounds of the red metal. On the basis of the ordinary working cost and 15 cent copper metal market, this would represent a net profit of ST. 500,00O, equivalent to $2.5O per share on the entire 3,OOO,OOO shares, of Ari- zona Copperfields outstanding. On a 25 cent copper market, such as has been ruling for many months past, the total profit in this tonnage of ore would be increased to $15,75O,OOO equal to s5.25 per share on the con- pany's outstanding capitalization.
 The company was organized for the purpose of carrying out a compre- hensive development program in order to bring the property to the produc- tive and dividend-paying stage.
 The entire property will be divided into squares of 200 or 400 feet, and drill holes will be put down at the | corners to whatever depth the ore body persists.
 The drilling operations will be checked up by means of shafts and crosscuts to verify the results, after which the capping, or low-grade ma terial, which covers the ore body for depth of from 2 to 50 feet, will be stripped by means of steam shovels, which will be used later in the actual mining of the ore.
 When developments have proceeded to the proper point metallurgical tests will be made to determine the type of mill best adapted to the extraction of the experiencing mineral from the ore at the lowest cost. From prelimi- nary developments the indications are that one of the well known Notation processes which have been so success ful at the Inspiration, the Miami, and other big porphyry producers will be 
 Arizona Copperfields enjoys dis tinct advantage over the other DOT phyries in the early stages of their development in that it will have the .i benefit of the advances that have been made in the metallurgy of copper ores.
 From this outline of the various ] steps in the proposed development of i the Arizona Copperfields, which will be similar to the method pursued in ] the development of other porphyry it will be seen that it re- 1uires a long time to bring one of these properties to the producing i stage. However, the market history [ of all the big porphyry coppers is I alike, in that there is a gradual ad- vance in the price of the issues as T mine development proceeds and the I properties approach the producing ' stage. S
 The Rockefeller interests recognized i the value of the big porphyries when c the Anaconda Copper company, the | largest copper producer in the world, t acquired big interest in the Inspira- T .ion Copper company. The Morgans are heavily interested in Kennecott, which in turn owns a big interest in q the Utah Copper company, the largest l porphyry copper producer in the world and of which the Nevada Consoli- dated, another big porphry, is a sub q sidiary. It is no exaggeration to say | that the larger portion of the fortune S of the Guggenheims was made in Utah Copper. True, the Guggenheims had J l great many millions before they un- 1 lertook to finance Utah Copper, but .he returns from this investment have c several times exceeded their c