The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1920-12-18
EUREKA MINING NEWS

ore, and OF which we have enourh
to keep plant in operation for years.
Our high-grsde ores carrying large
value In lead must continue IN ha
shipped to the smelters until we erect
a smelter Of our own, which can
readily be done out OF earnings.
with these facilities in operation
and the extension OF the Prospect
Mountain Tunnel, which will make
possible the handling of ore without
noistins. and also making it possible
70 eliminate the loss of time and ex-
cessive expense Of operating during
the Winter, you will have. in nv
opinion, which is also voiced by near
ly every mining man who knows the
conditions and the property, one of
the greatest mines in this country.
TO place the company in position
to successfully finance these neces-
sary operations the directors have, af-
ter very careful consideration, de-
cided upon the authorization of ST.
100000 Of additional stock, which is
to be treasury stock and under the
laws cannot be issued for any but
company purposes and not less than
par"
Major Catlin's report gives inter-
esting facts concerning the develop
ment OF the Eureka district from the
early days and tells OF the high costs
that prevailed when the old smelters
were in operation. Since the smelt-
ers ceased to run. high freight rates
have forbid the shipment of low
grade ore and "as consequence"
says Major Catlin, "all the ores of
less than s25 to $40 assay value that
were ever In Eureka are there to-day,
and this because there has been and
Is. no way or means of extracting
there values here" Major Catlin de-
clares that 'the lower grade ores are
well adapted to cyanidation, the point
Of separation between the compara-
tive utility of these processes depend
ing on the presence of lead in them
Of value to overweight In smelling its
loss In cyandidation."
Major Catlin calls special attention
to the fact that but a small aree of
the Eureka-Croesus property has been
explored. and that everywhere the ore
is going down and in no single in
stance has given out.
The report states that the Eureka
Croesus has produced from its newer
workings to June /. 1920, ASIA tons
of ore of q gross smelter value OF
s311.sos. or $s4.47 per ton. The
production was: Gold. .0.eS OF. per
ton. 3.273.5 ounces: silver. "a OF. per
ton. 1855 ounces: lead, 16s5, ITO
tons. Freight and smelter charges
varied from $40 to $1s per ton. ex-
of hauling from the mine to
the railroad station in Eureka.
Cost of exploration and develop
ment as shown by the balance sheet
was ss3.904.39; operating expenses
The statement shows
cash and bills receivable as OF Au-
gust 81. s21.1SS.39. bills payable,
OF which 100000 is
represented by money advanced to
the company Eugene Davis and Presi-
dent Torres. q
Development work and ore extrac-
ton is through the Catlin shaft on
the southerly end of the property.
which is 400 feet deep and equipped
with a 60-hp. oil engine for hoisting.
There is also at the shaft a 60-hp.
engine for the operation Of an air
of $40 cubic feet capac-
ity. machine shop and blacksmith shop
fully equipped. A double geared 60
hp. air hoist and two Chicago Pneu-
matte air compressors and engines Of
ass cubic feet have been received at
A. 49, H. lnA