The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1920-01-17
RUBY HILL COMES BACK
FAMOUS MINES STAR! WORK
Reorganized Under the Name of Ruby Hill Development
Company, Rchmond-Eureka Holdings Transferred
To New Company--Conviction That Fur.
ther Depth Will Develop New Ore
Bodies--Railroad Spur to Be
Rebuilt At Once

down. The new company is strong
financially, understands what It Is
necessary to do to place the mine in
Its former rank, and 1t is a foregone
conclusion that they will succeed in
doing so. Fl. p. Henderson, In an
exhaustive report on the properties
says:
According to the best available
Information, these properties pro-
duced before 1882. 100000 tons of
ore averaging about $50 In gold and
silver and over 20 per cent lead, OF
more than $60,000,000 gross meta,
value at present prices. The county
assessors books show net value OF
production from these mines before
1896 Of s33.2S3,000.
Under three years lease Of the
property. with options on a consider
able majority of shares, the possi-
bilities Of the property can be econ
omically tested. and the dissensions
and litigation of the past can be
avoided. An investigation of the con-
ditions at the property strongly in
dicates that the water situation will
not be serious and that the geological
conditions are very favorable to the
discovery of the new ore bodies, com
parable in aggregate size and value
with those from which the produc-
tion to date has been derived. II
such ore bodies can be discovered,
operations should be much more
economical than in the past.
II believe, therefore. that under
the Richmond Eureka lease and op-
tions, there is an unusually good
chance to develop a very large, rich
and profitable mine on very favorable
terms"
Mr.. Henderson goes into the geoi-
ogy OF Ruby Hill exhaustively and
says:
These conditions offer good reason
to hope that the continuation of the
ore-bearing limestone northeast Of
the Ruby Hill fault may contain ap-
proximately as much and as valuable
ore per unit of mass as the block of
limestone heretofore mined southwest
of the Ruby Hill fault, AS the lat
ter block of limestone, as shown on
hA In MnnA4ronh VII
has an average width of about 400
feet and 1t is reported to have pro-
duced $50. 900 gross metal value.
1t is reasonable to hope that every
100 feet northeast from the Ruby
Hill fault completely developed. may
contain as much as SIS 900. 900 gross
or $4,000. 900 net value, under pres
ent metal prices and economic con-
ditions."
In concluding his report Mr.. Hen
derson says:
From my inspection of the prop
erty and study of the reports, l be-
lieve that the geological conditions
strongly indicate that the rich ore
bodies, which, according to the best
available evidence. have produced ore
containing over $60,000,000, or over
$50 per ton in gold, silver and lead,
were faulted. and that there is strong
reason to hope that as the result OF
a development fund of 100000. now
about to be provided, continuation OF
these ore bodies at depth will be dis
covered sufficient In size to fully JUS
tify the purchase of the shares op-
toned. with the expectation that
earnings will amount to many times
the purchase price. The amount OF
money required for the proposed de-
velopment work is very small COM
pared with these large possibilities.
81 consider that the Richmond-Eu-
reka lease and options present
very unusual chance for the develop
ment of very large and rich mine"
With the companies now operat-
ing here proving that the ore values
do 60 down below the depths former
ly penetrated, and that they exist In
all the Iimestones of the district;
with Ruby Hill beginning operations
In the full belief that more and bet
ter ore bodies can be found than
we're formerly extracted; and with
silver selling at $1.35 an ounce, Eu-
reka has a right to feel prosperous.
with demonstrated shipping mines
scattered over a limestone belt nine
miles in length. and two to four miles
in width, with reserves of hundreds
of thousands of tons Of medium
grade but highly remunerative ore