The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1916-05-13
T0NOPAH MINING PROFITS
SWElLEO BY SILVER RISE

? in Colorado and its operations in
Nicaragua, the favorable aspects for
a long continued career in the
Tonopah district are obvious from
Q perusal of the estimates given in
; the report concerning the operations
of the company, not only in the main
, property but in the groups of claims
I, which it has under option and which
=, are now in the process of devel-
opment. The financial condition
/. which the company has maintained
enables it to undertake and to push
to completion the development Of
prospects which would a the re-
sources of any company possessing
only an ordinary reserve, n this
being the case, the Tonopah Min
ing company is proceeding to thor
oUghly prospect the ground of the
Mizpah Elk. Mining company and
the group of claims known as the
California and Tonopah group. Some
ere has been exposed in both prop
critics and there are prospects that
sizeable orebodies will be
tered in enc or the other group of
claims.
IN addition to the possibilities
contained in the Mizpah Extension
and the California and Tonopah
properties. the company possesses
in its original territory estimated
ore reserves with which to on
tinue operations during 1916 CT
52.493 tons of ore. calculated 10
he worth S14.93 per ton or a to-
tai valuation of $79S,7S9.
Among the assets of the To-
nopah Mining company, as shown
by the latest reports, is the item
of silver bullion stored, amounting
to $431,Ot0 at a book valuation
of so cents per n The recent
remarkable rise in silver adds over
30 per cent to the book value.
Halifax Tonopah ,
Following the resumption of pro-
duction operations during the lat
ter part Of April at the Halifax
TOnopah Mining company, comes the
interesting announcement that ship ,
ments are to be increased grad .
ually until the maximum is reach
ed. The present plans of the man l
as a minimum, of a 50-ton lot every q
other day. In fact the is coming I
cut of the mine at this rate now, +
and no doubt this will be in
creased in the near future. F.,
About the only actual develop |
ment work taking place in the !
mine at the present time is in the I
east and west crosscuts under the {
vein, on the 1900 intermediate lev
el. [
solidated as a result of the final
cleanup for the month of April, !
shipped to the smelter 81 oars of Z
gold and silver bullion, having a |
total weight of 60,54S ounces
At the Great Western Con- ,
solidated. the force is busy install .
ing two additional pumps to handle
the increased flow of water. 1t is =
expected that these pumps will be !
in full operation in about two ;
weeks, and development work in =
the crosscut will be resumed.
An estimate of the earnings OF
the Rescue Eula Mining company,
as a result of its operations due
ing the month of April, gives the
profits of the company at a little
-z. &c n .Ann .~ n-- k11
month there was SHIPPED about 500
tons of ore which returned over
$4,000 gross and after deduct
ing all expenses of operations the
net amount of profits as stated
above should easily be shown.
The crosscuts on both the $50
and 100 levels at the Midway Con-
solidated Mining company were
continued at a good rate of prog
ress during the week on practi-
cally the same favorable indica-
lions which have been shown in
recent weeks.
The regular satisfactory report
of operations at the Jim Butler
mine is made as to operations dur
ing the week.
As usual the bulk of the work
was performed at the Desert Queen
shaft, but at the Wandering Boy
section of the mine some new work
was commenced on the second lev
eli. This was in the $50 east
drift. which is advancing on a
showing of three feet of low grade
ore.
The report of operations at the
Cash Boy since the last report is
one Of uninterrupted progress. The
west drift has been extended to a
distance of $50 feet from the shaft,
and it is reported that marked