The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1917-08-16
NATIONAL LEASING
STOCK ADVANCES

National Leasing stock, what, in the
opinion of some of the best mining
experts in the United States, is spec
ulation of extraordinary promise, rose
on the curb market in New York dur
ing the past week from IL to 19 cents
a share, and had a final at the top.
The buying was predicated on news
from Winnemucca, Nevada, that the
National Leasing Company had taken
over the entire equipment of the ad
joining National Mines Company and
begun the work of drifting from the
National mine into the National Leas-
ing Company's ground. says G. G.
Rice's Industrial and Mining Age.
No less an authority than Horace V.
Winchell, famed economic geologist,
has testified under oath that the rich
ore vein penetrates into National
Leasing Company's ground. Now
comes the report of Consulting Engi-
neer Arthur Feust, who was commits
stoned by the company to go to Ma
tional, New Mr.. Feust says in letter
to the president of the National Leas-
ing Company:
THE prize at stake in the develop
ment of the National lease is vast.
All of the conditions are so favorable
that | do not hesitate to state that
we have an excellent chance to de-
velop an ore body somewhere between
the White Rock tunnel level on Nj
tional Leasing ground and the lower
levels of the National Mines Com
panys' property.
MY conclusions are based on the
exposure of the contact between the
rhyolite and latte on the 500-foot
level of the National mine. and the
fact that the latte shows up on the
hanging wall side of the 800-foot level.
The face of this drift is 460 feet from
our end line, showing that the con-
tact between the rhyolite dixie and
latte goes into our ground. This dixie
bodies. but does not follow the assure
through to the surface. The upper
portion of the vein on the National
lease has basalt walls, the basalt be-
ing a later flow which covers the
latte and rhyolite. This condition,
which was not recognized in the SUI
perficial work on the National Leas-
ing property, accounts for the failure
of previous operators to find the ore.
"The National Leasing Company,
through its rental of the National
Mines property, is enabled not only
to penetrate the vein below this CAP
ping, but also to do the work for about
half what ii would cost to sink A
shaft on the Charleston Hill ground;
to say nothing of the saving in secur-
ing equipment and driving and raising
its workings instead of sinking them.
"Our lease on National Mines gives
us complete equipment of engines,
compressors, blacksmith shop and
mill, in the event we develop ore and
wish to reduce it on the ground, al
though the company's records show
that it's ore was so rich that 80 per
cent of it and over could be sacked
and shipped, most of ii running from
$50 to S115 PER POUND.
"I also look for big developments
at the contact of the latte and basalt
that is, where the vein passes from
basalt into latite-as depth is attained,
and believe this contact will warrant
extensive development. This is apart
from the possibility of locating an ore
shoot ranking with the bonanza of the
National mine, which produced about
1000, 900 from a very small area and
tonnage.
Considering the favorable condi-
tions and the equipment at hand, sem
sational developments may be looked
for at any time when the drift now
being driven enters National Leasing
ground. This should be accomplished
in from seventy-five to ninety days,
and possibly sooner, if the vein con-
tinues as soft as the present face.
However. if our geologist, Arthur
Perry Thompson, determines that the
contact between the latte and basalt
is at or near the White Rock tunnel
level. we may be able to enter our
ground sooner by drifting on the up
per levels of the National mine, at
depth of los feet below the White
Rock tunnel level.
National Leasing stands an excel
lent chance of duplicating the history
of the National Mines Company, and
will, | feel confident, give good ac-
count of itself under the development
work now in progress"