The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1919-01-09
OLD VETERAN COMPANY
CR0SSCUT TO FOOTWALL
STRONG INDICATIONS IMPORT.
ANT ORE BODY WILL BE
ENCOUNTERED.

Stockholders of the Old Veteran
are In a state of unusual expectancy
on account of the probability of ore
disclosures to be made within the
next thirty feet. A crosscut Is being
run north to the footwall at point
directly under the showing of car
Donate ore in No. 2 tunnel, and, as
pointed out in the circular letter to
stockholders, 1t was this showing that
was chiefly responsible for the or
ganization of the Old Veteran COM
pany and justified the extensive plan
of development. While there are
even better evidences of a large
ore shoot still further east, as indicat
ed by the surface showing the extern
sion Of this crosscut to the foot wall
Is nevertheless regarded as the most
important work that has been under
taken and has the greatest possibili-
ties of ore development. A letter to
the stockholders giving full details of
the work and the expectations Of the
company will be mailed this week to
the stockholders by the secretary, L.
l.. Brainard The letter follows
To the Stockholders.
"Since our last report of October z,
the No. crosscut, which Is being
driven to the foot wall of our ledge,
has been advanced total of 81 feet
Our work was more or less interrupt
ed by the influenza epidemic, but
considering the character of the for
nation through which we have had to
work, satisfactory progress has been
made From our present develop
ment in the crosscut, conditions are
somewhat different from what was
anticipated and our foot wall bears
practically perpendicular position
and does not dip as far to the south as
anticipated when the crosscut was
started. Manager Farrell reports that
1t Is his opinion that we are just now
breaking into the hanging wall side of
the ledge and this is borne out by the
character of the formation now In the
face. A two-foot stringer of vein ma
terial highly impregnated with cop
per and iron has just been passed
through and the conditions on the
No. level are becoming more similar
to those on the No. 2 level. From the
present indications, our foot wall may
still be 80 feet ahead of us, all de-
pending on its actual dip. From pres
ent indications, however, we are La
BILE to encounter it at any time,
Stockholders are advised that the
next 80 feet of work should put us al
most directly under the carbonate ore
showing In the No. level above and
that 1t is anticipated that when this
point is reached an exceptional show
ing should he encountered. The point
to which we are now driving Is one of
the important showings which resulted
company and the management desires
to impress upon the stockholders the
importance of the development during
the present month. Infthe poinion of
your podiu vi uleStoiS ~ WYNN" ~
worse than folly to discontinue work
until the present objective Is reached
and for that reason an assessment of
two mills per share has been levied
to continue the work. Stockholders
are urged to meet this assessment as
the results during the present month
are anticipated to be interesting.
Notice of assessment and financial
statement are enclosed herewith"