The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1916-01-01
JUMBO EXTENSION OPERATIONS

JUMBO EXTENSION OPERATIONS
For the Jumbo Extension company the year just
closing has been the most notable in its history, mark
ing developments that have placed the mine among
the foremost producers of gold III the country ana
paving substantial dividends to the shareholders
Ont of a total gross production of approximately
$3.50 900 and net earnings, estimating the last two
months Of the wear, of about $4,000, the company
has paid during the year three dividends, of 5, J IL
and 10 cents. respectively, or a total OF S333,75o.
Checks for the last dividend, No. 5, were mailed in
time to reach the stockholders before Christmas.
The record of production of the Jumbo Extension
company for the ID months ending Oct. 81 affords
cause for much qualification to the stockholders and
managers. In the figures of production, as set forth
in company reports, the total gross valte OF the
ore. according to the mine %sampling, is given and no
allowance is made for metallurgical losses, since the
product is all shipped to the smelters. In TINS IA
months period the mine produced 24,2oo dry TONS OF
ore, having a total gross value of SI'o72,9I2'l9 and
a net value of 6 I5,S53.3S. The disparity between
gross and net values is accounted tor by the hlgh
shipping, s~ampling and treatment charges curing
four months of the period included in Secretary Olls
statement covering this stage of operations, the out
put of the property was negligible, owing either 10
suspension of work during litigation, or to the ne
CeSS1tN fOr 0dlQllDS dl dDlIOli lbi OiiihoS
grade material. Apex litigation, instituted by the
Reorganized Booth Mining company against the
Jumbo Extension. was amicably az justed, involving
the payment to the Booth company of 100000 shares
of Jumbo Extension stock and $4,000 in cash. This
settlement, as in the case of other properties involved
in the same difficulties over extra-ateral rights, Tor
ever precludes any question arising that can cloud the
companv's title to the ore contained within the
boundaries of its property.
Developments in the Jumbo Extension mine have
been attended by excellent results and have served,
during the latter months of the year. to solve I'M
portant geological problems in this territory. Inc
rich ore-channel, found at the point OF contact be
tween the latte and shale, has been opened on a
Number of levels and followed to within 80 feet
-J,f the east sideline of the Velvet claim. Within
an area 400 bv ZOO feet in extent a large tonnage
of rich ore has been exposed, both in the contact
zone and in the great fissure that penetrates the
shale, below the contact plane.
Two developments of importance were made early
in December, consisting of the discovery OF a new
vein. from which good assays have been Obtained
and the opening of a highly mineralized quartz zone
bv the No. 2 or Velvet shaft. This shaft will, 1t Is
believed, be completed late in January to a depth OF
1917 feet, where it will connect with a cross-cut
from the deep workings that are in ore. Its compile
ton will mark the immediate increase OF re MOIST
ing capacity to fully double that which the prcScns
eouipment is capable of handling and the cornpanys
earnings will be correspondingly augmented.
~REORGANIZED KEWANAs COMPANY
DEVELOPMENT work has been in progress IN the
Kewanas property during the year, at a depth OF $40