The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1922-10-26
WALLACE MEN TAKE OVER
MONTANA SILVER MINE
ASSAYS AND SHELTER RETURNS
SHOW WONDERFUL VALUES
VISIT THE PROPERTY.

Mineral Hill Mines is the name of a
new company organized as a common
law trust by a group of Wallace men
to take over and operate the Silver
King mine, situated near Thompson
Fails This property has been held for
several years by Frank Heller, well
known in this city. under bond and
lease and who has succeeded in show
ing some remarkably rich ore on three
tunnel levels of the old mine some Of
it being along the walls and was evil
IDENTIFY overlooked in former operations
But like most prospectors when they
find ore. Mr. Heller was confronted
with the necessity of securing financial
assistance to develop the property and
meet the payments under the bond,
and he came to Wallace to find it. The
high grade ore he exhibited, particu-
larly the chloride with its high silver
content. created something of a sensa-
ton, and w f. Newton. formerly
manager of the Sunshine Mining COM
pany on Big creek, lost no time in
going over to the Silver King and
making an examination, for it ap-
peared to be just such a property as
he had been seeking for many months.
And he was not disappointed in fact,
he was enthusiastic and he at once
entered into negotiations with Mr.
Heller which resulted in an agreement
to take over the bond with a substan-
tial cash payment, Mr. Heller retain
ing an interest
Company Organized.
Mr.. Newton's report supported by
liberal samples from the mine, re-
suited in interesting a group of Wal
lace men and a company has been or
ganized as stated above to take over
and operate the property The trus-
tees of the company are William F
Newton. Theodore Wellman, Chas. A.
Heating, Geo. w. Walker. Joseph
Schroeder, Joseph Martin and Frank
lin Pfirman. The officers are Geo. w.
Walker, president; w. F. Newton,
rotary and treasurer. The Mineral |
Hill Mines is capitalized for 100000, |
divided into 600 units of 500 each.
units have been subscribed |
@ provide for the cash payment and |
proceed with the development of the
property Several of the trustees and
'thers who will probably become in
crested in the enterprise, making a
,arty of - or 10. will leave here early
sunday morning to inspect the prop
rty
High Grade Silver.
Mr. Heller made several small ship
lents of ore from the Silver King to
he East Helena smelter He ex-
ibited original returns from two of
hese One was S66S pounds. a little /
iore than four and a quarter tons {
hich carried 1881 ounces silver per S
ln. making a net return of S54O25.
he other shipment, 2255 pounds. or
little more than a ton carried 40S.5
inces silver and netted $41O7S. The b
st named shipment was hand sorted, u
lille the first was the accumulation 1
lower grade thrown out in sorting n
e first class ore. Assays of half a {
zen samples. representing all grades {
ore in the vein, all showed a silver
intent above 100 ounces while one.
ken from a streak about two inches n
icS. carried 1916 ounces silver. 14.7 t
n cent lead and 81 per cent copper.
ne ore as far as exposed varies from
few inches to three feet in thick o
SIS. is
Plans of the Company. -
II is conservatively estimated that -.
5000 viii cover the purchase price y
the property and provide for de- I
lopment and equipment TO place 1t Z
a paying basis. Mr. Newton states +
lt no connection has been made be- Z
cen the tunnels and that the first +
rk viii be TO raise on the ore to Z
I'VE its extent and make it available +
systematic mining. The equip Z
mt contemplated will be compressor, +
chine drills, crusher conveyor belt Z
I trommei for classifying and sort +
ore.
he Silver King is situated on +
ompson river, about three and a Z
Z miles from the railroad. with +
ich it is connected by good wagon 7
d. 1t is about nine miles north +
{ of Thompson Falls. !