The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1916-06-01
INDICATIONS POINT TO THE LOMBARDY
MAKING Of ANOTHER KELLOGG NINE
INSPECTOR HIGHLY SHOWING ON PROPERTY
FINANCIAL ARRANeEME NTs COMPLETED FOR
ITS EXTENSIVE DEVELOPMENT

The meeting of the stock
holders of the Lombardy Mining
company was held at Kellogg yester-
day when an agreement was entered
into between the company and DR.. t
X. Mason, of Kellogg, under which the
latter agrees to sell 100000 shares OF
the treasury stock Of the company al
TIE net price of 10 cents per share
Under the terms of the agreement DR.
Mason Is required to turn into the
treasury of the company $4,000 on
August l. and from $500 to $1,000 each
month thereafter, beginning on Sep
TENDER l. until the full sum of $4O,-
900 has been paid Upon the fulfill
ment of this agreement DR.. Mason is
to receive as his compensation 1OO,-
600 shares.
At the same meeting of the stock
holders the proposition to reduce the
capital stock OF the company received
affirmative action. The original cap
italization was 100000 shares of the
par value of 81 each. BY the action
of the stockholders this is now chang
ed to 100000 shares of the par value
of 10 cents each,
Bells Opinion of Lombardy.
The Lombardy group of claims Is
located in Italian gulch, across the
from the depot. A strike was recent
ly made on the property which
brought 1t into much prominence and
which has caused it to take rank as
In the district. In connection with
the strike and the deal that has just
been consummated, the following
comment on the property by Robert
N Bell, state mine inspector, In his
annual report for 1915, is interest
ing:
"One Of the most conveniently sit
uated and interesting mineral depos-
It's vi oil u1plONSu SiA"HbSe
in the Prichard formation two miles
north of the Kellogg Wardner depot
on Italian gulch, and known as Lom
hardy mine. This property is owned
by veteran Italian miner and bust
ness man, Peter Abinola, who has
held il for 25 years. His lower tunnel,
$50 feet long, driven in from the creek
level crosses a big black diabase dixie
several yards wide near its portal. The
last 400 feet Is carried as a drift in
the vein without systematic cross
cutting. The interesting phases of
this prospect is the fact that it is
opened on a powerful replacement
fault flssure vein that can be followed
at the surface for thousands of feet
pete says mlles) by outcrop mani
festations and is 10 to 30 feet wide
of silicious breccia gossan and iron
sulphide ore at shallow depth, the
lower tunnel drift disclosing bands of
clean, massive pyrlte up to four feet
thick Lately the face of the drift
mas ufsCloseu lilEte Ieel VI tlSHl bISC-
ella we'll sprinkled with fine grained
galena. The only other comparable
display of pyrite ore to this in the
Occur d'Alene district that l know Of
is the heavy pyrite ore bodies in Milo
gulch, on the east end of the main
Bunker Hill ore course, whose asso-
ciated and deep underlying lead-sil-
yer ores form the basis of the present
prosperous town of Kellogg, and !
think that the business interests of
that place would be well warranted,
under favorable terms, In financing a
cooperative mining development enter
prise to test out, at considerable fur
Their depth, the commercial lead silver
bearing possibilities of this big Lom-
hardy vein"
Will Crowd Development.
The sale of large block of treasury
stock, referred to above, enables the
company to proceed with extensive
development which will be under the
direction of DIR. Mason, as provided in
the agreement The compressor and
other equipment formerly used in the
development of the Galena at Burke
has been purchased and will be moved
to the Lombardy at once. Grading
for the necessary buildings has been
completed and the electric power line
will be at once extended by the Wash
ington Water Power company. The
progress of development will be
watched with much interest, as it will
be a test of new section in the
Wardner- Kellogg district which up to
this time is without productive mines
The directors of the Lombardy COM
pany are Peter Albinola and Ed AL
binola of Kellogg, and Herman ].
Rossi, William Fishinger and ]. w.
Winner of Wallace.