Weekly journal-miner., 1917-09-12

IT, I. I1CiluGIS SOn Ol lllS JGIOllG-N GGQC will prove of interest to holders of that stock:
 During the morning of the 18th of last April it was reported to Mir. J. B. Harper, superintendent of the Jerome Verde Copper Company, that the diamond drill operating in the Verde property had passed through two feet of rich copper ore. Mir. liar per immediately inspected the core, from which a representative sample assayed ? per cent copper. The drill runners stated that this was drilled from depth of 469 to Al feet, and the core had been place in the core box in this position.
 'Mr. Harper soon ascertained that the drill operators had reported this discovery to individuals not connected with the Jerome Verde Copper Com pany, some tune before reporting to himself, and, in fact, the information was widely disseminated in Jerome by the time he was informed. The drill runners were immediately discharged for their dishonesty. From informa- ton I have gathered, both from Mir. Harper and from acquaintances in Je- rome, I believe there IS no doubt of conspiracy between the drill opera tors and certain individuals, resident in Jerome, for personal gain in the stock market.
 Shortly afterwards we started crosscutting for the point at which the ore was reported. We have re- gently exposed the drill hole for l5 or 20 feet on each side of the point re- ported, without exposing any ore whatsoever, although there are traces of copper not far distant.
 Tt appears, therefore, that the drillers not only delayed their report but misrepresented the facts. We are not certain whether the core was drilled from an earlier part of this hole, some other hole, or was drilled from fragments of ore obtained else where In such case 1t is easy tC detect the fact of collusion, but, from the nature of diamond drilling, diff cult and expensive to determine the truth. The Jerome Verde Copper Company has been put to consider able useless expense by this dis honesty.
 "The number of stockholders in the Jerome Verde Copper Company is sc great that it is impracticable for tho company to report to them directly at short intervals. The most feasible way of informing stockholders of de velopments is by making the infor- nation public, and Mir. Harper has been instructed to do this immedi- atelv after informing the officers oi the company. We intend to make this information as accurate as possible.
 "Thc diamond drilling program which we are carrying out on the Je- rome Verde property is not intended to measure the amount of ore which may exist on the property, and IS moi planned primarily to discover ore di- rectlv. Since the orc-bearing forma- tions are capped by sedimentary rocks. we have no knowledge of the distribution of the various formations below the cappings on the most oi the property, and our diamond drill ing is planned to determine the posi- ton, throughout the area of the prop crty. of the more important geological features which have some relation to the ore deposits of the district, and to enable us to map the various under lying rocks, greensboro, schists and porphyries. the faults, and the zones of shearing, oxidization, jasperization and pyritization which may occur on the property
 Tt is possible that some of these drill holes may encounter ore, but 1t should be remembered that the re- suits of an ore exposure by diamond drill hole should not be regarded as conclusive until confirmed by drifts and crosscuts, except possibly in the case of very large regular ore bodies. For example, five feet of core may be produced by drill hole extending along hve-inch stringer.
 By the comparatively cheap dia- mond drilling. therefore, we may or mav not find the position of ore bodies directly, but we confidently hope to secure geological knowledge that will enable us to direct our drifts and crosscuts in those parts of the property where conditions are most favorable to the presence of ore .t,