The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1917-10-04
DECLARES
LEDGE Is LIVELY

National Leasing was very active
ON the curb during the week with a
great deal of excellent buying By
investors who took on the stock tC
hold for the full development of the
property's speculative possibilities
says Rice's Industrial and Mininl
Age. There was a turnover of nearly
100000 shares, the quotations being
unchanged at 10c bid, 12c asked a
Saturdays close.
Under date of September %, Ell.
mer Pfouts, superintendent in
charge of operations. reported thai
the work of extending the fifth level
drift of the famous National mine
into the adjoining property of the
National Leasing company, was
making excellnet progress and that
the last ten feet had been extended
without timbering. He added: "The
ledge at the face of the drift is
five feet wide, dry, showing con-
siderable iron, and looks lively, with
little seams of quartz running
looks a good deal better on this
level than il did on the s00-foot
| level"
Superintendent Pfouts is pushing
work in the drift with all possible
speed, and il will be only a short
time until the line between the Ma
tional mine and National Leasing
holdings is reached. Then will be-
gin the real exploration of the Ma
tional Leasing territory. With the
described by Superintendent Pfouts
it is not unlikely that a discovery of
great importance will be made even
before the north boundary line of
National Leasing property is reached
Because of the phenomenal pro
duction OF gold from the vein in the
National mine, the operations of the
National Leasing company are being
watched with keen interest by min
ing men, especially in view of the
extensive program of exploratory
work in the National Leasing prop
erty which has been mapped out.
Ample capital is available for the
work, and it only remains to be de-
termined whether in that part OF the
National vein lying in the National
Leasing company property there ex-
lists an orebody such as yielded the
famous National high-grade ore. The
opening up of single oreshoot of
this kind would put millions ot
dollars in value back of the Ma
tional Leasing company stock and
yield speculative profits at a rate
calculable only in many hundreds OF
per cent. This is very good reason
to expect that the many "Jewelry
shops" workings displaying to the
eye free gold in great quantities)
that were opened up in the National
mine will be duplicated in National
Leasing territory.
An idea of interest with which the
mine was regarded by the United
States Geological Survey may be
gained from the fact that S. l.. Ran
some. one of the governments best
known biologists. was sent there to
make a special study of it. and that
after his examination he prepared a
bulletin, known as Bulletin No. o01
of the United States Geological Sur
vey. based on his observations md
conclusions. In this bulletin Mr.
Ransome says:
Special interest attaches to tie
| description of the extraordinary
shoot of ore ((the National mines
| oreshooO which brought the district
into prominence in 1909, and TO the
conclusion that the high-grade ores
of National, like those of Goldfeld
were deposited within a compara-
lively short distance from the SUI
| face. Ascending hot water connecteo
with the volcanism lis believed to
have been the active agent of deposi-
ton in each place, although at Ma
tional descending waters appear to
have played no such part in the
| original deposition of ores as tha'
which has been suggested as the ex'
PLANTATION of the unique alunitic de-
| posits of Goldfeld."
Referring to the ore produced bN
the National mine. the bulletin says,
"The ore shipped averaged about
| $4,000 per ton. In about 191"
small mill was located at the Stab
shaft for the purpose of treating the
dump. About s650.000 was turned
out of this little mill in less thar
three months"
/ rUrANnE IN DDIHEG