The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1917-10-06
JUMBO Elk. OPERATIONS
Continued From Page one,

finally took a bond n
lease upon a very promising copper
property at Copper Mountain, New.
This property comprises five patent
ed claims and IS non-patented
claims. Upon the patented claims
| considerable work has been perform
ed and some ore shipped. The terms
of the lease and bond were very
favorable, enabling exploitation be-
fore the payment of any money.
At the time the papers were sign
ed several leases were in effect upon
various parts of the property. Un-
der terms of the contract these leas-
ers became tenants of your company
and all royalties paid by them ap-
piled upon the purchase price of the
property. One lease has produced
about $4,000 worth of ore and is
still shipping a fine grade of ore,
while other leasers, working on a
small scale, have produced lesser
amounts. The company enjoys a
double advantage from these leasers,
inasmuch as they are at the same
time proving up the property and
contributing to it's purchase.
The leasers are working solely for
immediate money. The work your
company is doing upon the property
is more to determine it's probable ul-
innate value, as explained by Mr..
Turner in his report, than for the
immediate production of ore. This
work is involving a large expenditure
of money and is proving a drain
company auxiliary to the Jumbo Ex-
l would recommend, therefore, that
steps be taken to incorporate a new
company auxiliary to the Jumbo Ex-
tension, through which operations
upon the Copper Mountain property
may be financed and be made to
stand upon it's own bottom" with
out further drain upon the parent
company. having in mind always, of
course, the protection of the Jumbo
Extension stockholders, by partici-
pating in the new company in pro-
portion to their holdings in the
Jumbo Extension Mining company.
engineer > HepOfC
The report of Superintendent j. K.
Turner is in part as follows:
In the Poleverda claim 600 feet of
development work was performed
during the II months, which togeth-
err with slopes produced 656.76 wet
tons of ore averaging $25.74 per ton,
having a value of $16,9O5 (mine
samples).
The development work performed
in the southwesterly portion of this
any ore in profitable qualities, but
indications warrant further develop
ment in this section.
In March a favorable lease was
given to the Goldfield Consolidated
Mines company on a block of ground
$50 by 600 feet in the northwesterly
portion of the claim, and adjoining
the Clermont claim of that company.
This leased ground contains some
| developed ore averaging So per ton,
suitable for the oil flotation process.
but not of sufficient quantity to
warrant the construction of a mill
by your company. The lessee has
not as yet started to treat this ore
at it's mill.
In the Velvet claim 4037 feet OF
development work was performed,
which together with slopes produced
1896 wet tons of ore averaging
S25.S2 per ton, having a value OF
$2O2,2O9.21 (mine sample).
The sh%ale-latite orebody found in
the fiscal year 1915 has been COM
pletely exhausted and raises driven
from the 1O17-foot level in the
%southerly and easterly portions OF
the claim have failed to expose the
downward extension of this repod
The orebody found entirely in the
shale, exposed in the year 1915, has
also been exhausted and to date the
development work on the lower lev
els in this mineralized zone has fail
ed to locate encouraging values.
Extensive development has been
conducted on the S79-foot level In
the central, easterly and northerly
sections OF tnlS cidiLu "i'ho"' w
factory results. and an equal amount
of work has been performed on the
769-foot level. which has also failed
to uncover any orebodies. However
there is much virgin ground to be
explored in this claim and work will
be continued on various levels.
During the year the Jumbo Junior
Mining company was given a work
ing agreement to work their prop
erty through our No. 2 shaft. This
is now being done through our 4OO-X
cross-cut on the S79-foot level.
In January a Calyx cor drill was
installed on the 1017-foot level.
Drilling was continued to a depth OF
mn 80 . L. 1n1- font louol