Weekly journal-miner., 1916-08-02
IMPORTANT DEAL FOR THE UNION
 COLD MINES
NEGOTIATIONS PENDING FOR SEVERAL WEEKS, ARE NEARING FINAL STAGES IN BIG SALE.
(From Thursdays Daily.)


 Final negotiations for the purchase
 of the Union group of gold mines in
 Chaparral were being concluded yes
 terday by a syndicate of Eastern in
 vestors, of which D. NJ. Locey is a
 principal, and the formal taking over
 of this widely known property will
 be consummated in few days. Not
 in years has deal Of so much inter
 est or magnitude been concluded in
 this field, and mining circles are very
 much interested in the movement by
 which such an attractively rated gold
 holding promises to become active
 and extensively operated in due time
 Retiring from the property is Hon.
 John s. Jones, through whose prac-
 tical efforts as a mining man a large
 amount Of development has been giv, cn in recent years to place his inter.
 ests in a class of desirable rating. It
 is generally admitted that the Union
 holds the key to the mineral situation in that field. Mir. Jones has conduct ed development quietly and yet ener- eetically, and in the aggregate over coco feet of underground exploration has been performed, with determina, tions that are incontrovertible of a merited property being proven. In recent months frequent shipments of ore made to Fl Paso smelters gave values in gold of S200 to the ton, while the concentrate product from the mill on the ground returned Sl60 to the ton. Mir. Jones states that the Union is getting too big for an in dividual to assume the responsibility of operating single handed, and is now ready for a large organization to get the property in shape for fu- ture of heavy production as we'll as oi high rating which he says he is in- capable of personally doing under prevailing conditions. He has | devoted all his time and energy | for more than 20 years toward get ting the Union in the condition it to- day enjoys for large investment, and | during that time the proposition has maintained the expense of develop mcnt from its own product. Such showing is rare in mining and the Union in this respect has been an ex- ception to the rule of bringing a pros pect into such high class rating without being burdened with conse- quent liabilities.
 In the group sold are Y full claims of 600 by 1,500 feet each, and all con nected. Scores of shafts, drifts, cuts, tunnels and other openings conclu- sively prove mineral values of bon anza rating at some points, while at tractive gold orc bodies everywhere arc exposed. Mining men conversant with mineralogical conditions of Chaparral freely state that the Union is the center of a huge mineral mael- strom, and only necessary to place it in the ascendency of gold mining in this State is capital and deep develop ment
 Leading up to satisfactory con clusion Of this deal, the new operal- ors have moved ahead quietly and earnestly to have engineers carefully conduct examinations, and in this line favorable reports have been given by A. w. Warick. of New York City; D. A. Seaman, of the Juanita Mining Co.,; NJ. NJ. Andrews, of McCabe, and w. w. Lewis, of Prescott A Butte, en- gineer, also concurred in the exam nations above made, and not one ad- verse report was given, it is said.
 Mir. Locey, who is factor in clos ing this deal, is well and favorably known in this community, as well is ! he conversant with every mineral bearing property in this field, from s frequent trips made into the country | for more than five years. The out C come of his observations and his re- search for a desirable gold property | centers at last on the Union, and he I stated yesterday that when his com a 5any assumes charge some very large l operations to great depth will be in- the outcome of which he V las no hesitancy in stating will prove b 'cmunerative to those interested and t bring that belt into deserved rating. g The principals to this deal withhold c he consideration, but admit very s arge sum is involved. O