The diamond drill., 1920-12-18
INQUIRIES FOR AVAILABLE IRON
LANDS ARE ON THE INCREASE
EXPLORING COSTS STILL HIGH
Eyes of Iron Explorers Turned This
Way and Work viii Start
When Costs Lower

While there isn't any actual ex-
ploration work started in this county
there are in evidence the usual sym
ptoms that precede an exploratory
campaign--a feeling out OF land own
ers as TO options. royalties, etc.
The prospect OF lowering costs in
the labor and supply world, coupled
with certainty that there is TO be
an immense demand for iron pro-
ducts once the present lull is safely
passed, is the force that is turning
the mind OF explorers for iron ore
this way at the present time.
The operating companies In the
Lake district are not, so far as we
can learn. contemplating any explor-
atory program. The Inquiries that
are coming are from independent ex-
plorers. II has never failed that
when outsiders get into the game Il
leads the insiders 10 get busy SO II
is expected that history win repeat
itself this time and the mining com
panies will start II others do.
Carbons at High Price
One fact that keeps diamond drill
ing back is the very high price OF
carbon-black diamonds used In the
drill bits. These stones are COM
manding price well along towards
$3.50 per carat at the present time.
The stones come from Brazil where
Indian divers and others gather them
and bring them TO the dealers in the
cities, turning them in for mere tri-
fies. From the very great Jump in
price OF diamonds recently one might
infer that the II G l. has compelled
the natives TO demand more for the
stones they gather-that they wear
silk breech cloth down there now
instead OF jute. It's undoubtedly a
similar case 10 that OF honey when
the price increased because the bees
had 10 be paid more.
Irrespective OF who gets the money
the cost TO the drill operator is
very important item which must
change before the incentive TO do
work will be very great
Much Promising Territory
Iron county has more promising
iron territory open for exploration /
than any other section in the iron
country. The territory about Crys-
tai Falls has only been scratched oy- !,
er. so far, and much territory that |
is first class in Importance can be had |
on option at any time. Royalty |
prices are higher than they were be-
fore the war but are still quite at
tractive 10 parties wanting promis-
ing territory 20 explore.
There has been a slow but steady |
absorption OF independent ore prop
critics The passing OF the Judson
properties 20 the Pickands-Mather
Interests takes the last. OF the undi-
gested Crystal Falls ore
New Consolidation Talked OF
The new consolidation talked OF a
mong financiers by which the Bethle-
hem. Midvale. Lackawanna. Republic
Sheet & Tube and Inland Steel COM
panies are planned TO be brought un-
der one head will further emphasize
the necessity OF those outside OF tho
combinations getting linked up with
ore properties which means that
some new mines must be found
The consolidation would make
big change in affairs in the Michigan
sections where these companies all
have large holdings. d would like
wise make a big difference with con-
suming interests who have been fur
nished. TO some extent, with raw ma
teriaf by the independent mining
associated with the COM
bining units.