The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1917-11-24
NATIONAL LEASING
NEARING ITS GOAL

I'D in National Leasing ground of
another of those phenomenal bonan-
zas which made the camp of National,
New, the most talked-of gold camp in
the country a few years ago, says
Rice's Industrial and Mining Age. In
the latest report received from the
property, Supt. Elmer Pfouts states
that the drift on the fifth level is
being advanced in four feet of very
highly mineralized vein matter, con-
tanning quartz identical with that in
which the bonanzas of the National
mine occurred Another favorable in
dlcation reported by the superinten-
dent is the large amount of water
which is streaming out of the ledge.
this always being considered a good
sign by miners. In fact, men who are
working in the face. familiar with the
operations at the older property, say
that the ledge now being drifted in
the National Leasing Company ground
has all the earmarks of being near
ore, and that strike may be expected
at any hour
The character of the work on the
fifth level in National Leasing Corr
pany's ground on the National vein is
identical with that which was con-
Quoted by the National Mines Com
pany on the same vein in its ground
in its quest for high-grade ore. All
mine records of the National Mines
Company have been made available TO
the engineers of the National Leasing
Company, and the work which is go
ing on is all that intelligent direction.
backed by ample facilities and neces-
sary money, can hope for.
Surely II is difficult to believe that
in vein SO strong and persistent as
the National vein is. there are not at
least several rich oreshoots similar TO
that encountered within the confines
of National Mines Company territory.
What may be expected, if the opera
tions now under way prove, as has
been contended. that the most valu-
able portion of the vein is that which
lies south of the National Mines prop
erty, may be gathered from the follow
ing facts brought out from testimony
in the trial OF an action brought IN
1912 by the National Mines Company
in the United States circuit court at
Carson City. against the owners OF
the Mammoth National Mining Com
pany. Frank S. Taylor. who was SUI
perintendent of the mine in 1911. said
at the trial that on the No. 4h level.
Just north of the Stall shaft. he ex-
tracted $4,000 in electrum from a
very small block of ground, $4,000 of
which was taken from a slab of ore
a few inches wide measuring 3x6 feet.
At the. same trial George Stall testified
that one ton OF ore shipped by him
yielded $4,000 p. G. Harrison, re-
Gently superintendent, testified that
one shipment of $500 pounds, made
in 1911, netted $500 a pound, or
total of s365.000.
In the event of the National Leas-
ing Company's success, an idea as to
the possibilities OF National Leasing
stock may be cleaned from the mar
ket history OF the National Mines
Company's shares. Originally ped
died" around Winnemucca and Reno
at ten cents-at which price the stock
went begging-the same shares sold
as high as s26 in the heyday OF the
extraction OF the National Mines Com
pany bonanza.
without any question at all. Ma
tional leasing stock at around eight
cents a share Is one of the most meri-
torious mining "gambles" that has
ever appeared on the curb list. In
the event of successful ending OF
the quest for duplication of the rich
ore occurrence that made the adJoin-
ing National mine internationally
famous, the stock may be expected 10
increase in the market anywhere from
1000 to 10000 per cent