The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1918-08-01
Over Two and Half
Feet Is Shipping
Grade
ORE BODY 10 FEET WIDE
Consolidated Company Owns
Carbonate Hill and the
Idaho Giant

~ struck in the shaft that is be-
ing sunk by the Idaho Car
Donate Hill Consolidated Min
ing company, samples of which may
be seen at the office of Harry McAllis-
ter. AS described by one who visited
the property few days ago, the ore
is about 10 feet wide, about 2h feet
of which is galena of shipping grade
while the balance is good mill feed. In
fact there is more or less ore through
out the bottom, the shaft, 10x16 feet,
and the main body seems to be pro-
jecting into the north side. In cutting
the large underground station prepar-
atory to sinking the shaft, which Is
situated about 200 feet southeast of
the old Carbonate Hill shaft, more or
less galena was found and since start
ing sinking it is said that there has
been some ore all the way The shaft
is reported down at this time about so
feet and it is expected that the dip
of the vein will soon carry the ore
out of the shaft. This ore is under
stood to be about $50 feet east of the
shoot developed by the old company.
1t was announced by w. d. Greenough
when he took over the Carbonate Hill
and organized the new company, that
he would sink to depth of 1000 feet
if necessary in order to prove the
ground but no intimation has been
made as to how far the shaft will be
extended before crosscutting. The
finding of this fine body of ore at this
early stage will probably have an i'm
portant bearing on plans in that re-
spect.
Big Consolidation.
The Idaho Carbonate Hill Consoli-
Gated Mining company is the result
of the consolidation of the Carbonate
Hill and Idaho Giant, two contiguous
groups of claims southeast Of Mullan,
the east end of the combined property
extending across Willow creek includ-
ing the S bridge. w. d. Greenough
entered into an agreement to take
over practically the entire capital
stock of the two companies and to
form a new company to be known as
the Idaho Carbonate Hill Consolidat
ed Mining company with a capital
stock of 100000 shares of the par
value Of % cents each. He also
agreed to take the 100000 shares to be
placed in the treasury of the new
company at cents per share which
would provide $4,000 for develop
ment purposes, and provide other
funds for the development and equip
ment of the property At a meeting
of the directors of the Carbonate Hill
Mining company last September
resolution was adopted ratifying the
agreement with Mr. Greenough, under
the terms of which he became obli-
gated to take up the stock of the Car
Donate Hill company as follows: He
agreed to purchase 250,00O shares at
3 cents per share, payable on or be-
fore October l, 1918; 100000 shares at
10 cents per share on or before Octo-
ber /, 1919; 100000 shares at 20 cents
per share on or before October l, 1920,
making an average Of IL cents per
share. The right was reserved to
Carbonate Hill stockholders to replace
20 per cent of their original holdings
with stock in the new company. A
similar agreement was entered into
with the directors of the, Idaho Giant
company.
Extensive Development Planned.
After the consolidation much time
was consumed in surveying and plat
ting the large holdings and working
out an extensive plan for the devel-
opment of the property, this work be-
ing under the direction of w. Earl
Greenough 1t was decided to con-
tinue the exploratory work through
the old Carbonate Hill workings,
where quite large amount of lead
and zinc ore had been developed. The
old tunnel was practically recon-
structed enlarged and placed on a
uniform grade. A large underground
station was cut to receive hoist
which was shipped from the Atlas
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