The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1920-02-26
BIG MINING DEAL ON
THE NORTH SIDE
Paragon Mining Co.
Takes Over Muir
ray Hill
100000 IS THE PRICE
Paragon Has Extensive Plans
to Make Property Steady
Producer at Once
.HE PARAGON Mining company,

-HE PARAGON Mining company
of which L. w. Stedman is
manager, has purchased the en-
tire stock and holdings of the
Murray Hill Mining company. This
announcement was made sby Mr.. Sted-
man last Tuesday when he was in the
city in conn ction with the deal. The
consideration was 100000 and while
the terms of payments are not given
out, it is known that they permit the
Paragon company to take possession
of the Murray Hill property at once
This is the most important mining
transaction that has taken place on
the North Side in many years and is
highly significant of the substantial
mineral deposits that have been eX-
posed and proved in that section.
There is only one obstacle that can
now prevent the Paragon from be-
coming a permanent shipper, and that
is the absence Of railroad transporta-
ton, and this large investment should
be accepted as conclusive proof that
available tonnage is sufficient to JUS
fifty the reconstruction of the Prichard
creek line The Paragon company has
for many years been engaged in the
development of it's property and has
exposed a large amount of lead-silver
and zinc ore. The company owns A
patented claims In taking over the
Murray Hill, which was originally
known as the Black Horse, the COM
pany adds seven more claims to its
holdings, secures a mill of 100 tons
capacity, compressor and various 9TH
err equipment, which with the eXcell-
ent equipment already owned, places
the company in position to carry out
the extensive development program.
that has been formulated and at the
same time enter at once upon a per-
iod of permanent production. This
latter however, will depend probably
upon the action of the railroad COM
pany. for the cost of delivering con-
centrates to the railroad under pres
ent conditions is practically prohibi
tive.
Development of Murray Hill
The Murray Hill mine is opened by
three tunnels, in all of which import
ant ore bodies were found, and which
justified the construction Of the mill
good many years ago. The ore is lead
silver and zinc, the first named pre-
dominating. The best showing of ore
is now said to be on No. tunnel level,
where for the past two years leasers I
have been successfully operating. The
company has shipped irregularly for
several years. but for the past two
years work on the property has been /
confined to leasing. Mr.. Stedman
stated that he was unable to say az
this time what plan would be adopted :
with reference to operations on the T
Murray Hill property, as this would +
depend upon the result of an examin- ,
alton that would soon be made by the /
company's engineer. Regarding the .
mill he said that would require some
repairs and additions which would /
probably require an expenditure up I
wards of $4,000. This will probably be .
taken up at once and also the mill .
will be provided at once with electric .
power by the extension of the line of /
the Washington Water Power COM
pany. the mill now being dependent /
upon water power. The controlling in
terest in the Murray Hill company
was owned by c. 2. Mallette Of spo
kane. Another important stakeholder
was ]. c. Feehan, of Murray.
Paragon Plans.
The water power used in the oper-
alton of the Murray Hill mill is owned !
by the Paragon company and in con-
sideration of its use the Paragon COM
pany has had the use of the mill I'm
der this arrangement the Paragon has
shipped 80 carloads of zinc concen-
trates. two of which were 50 per cent
zinc and the remainder averaging
about As per cent. Six cars of lead
concentrates were alsU shipped. The
company now has sufficient water
power to run its compressor and will
resume work about March 1. The ore
shoot from which these shipments
were chiefly made is 115 feet in length
with an average thickness Of over
three feet, producing a mill feed that
at times ran as high as 80 per cent. A
shaft has been sunk 60 feet, and at
that point a crosscut and drift have
opened the ore shoot its full length.
and after passing out of the ore has
entered another shoot which shows
full face of lead-silver ore Of good