The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1922-04-27
MILL FOR Lion
MUCH ORE IN SIGHT
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both levels A station has also been
cut on No. level. We are sorting the
high grade ore as it is brought out
and storing it separately on the dump.
Operating Costs.
THE total cost of this work to both
companies. to January 1, 1922. was
sS9,56s.65, including s75S75S spent for
equipment and other property ac-
counts. The total foOtage driven in
tunnel No 3, to January l. 1922 for
both companies was 1850 feet The
driving cost per foot was S1S.5O6 and
total cost, including plant expenditures.
was s2OS9 These costs are consid-
cred satisfactory. and compare quite
favorably with other costs for similar
work in this district.
Our cash on hand January 1, 1921
was 1895, which enabled us to con-
tinue development the past year 1t
was necessary. however, to make a
loan to carry our deficit, and an as
sessment is therefore necessary to car
ry us along until some other means of
financing is found.
Besides this development under
ground, we have kept a crew at work
widening and improving the trail to
the south, which has been surveyed to
connect with the c. NJ. & st. p. rail-
road at Boyle spur, Idaho. This trail
will require but little more work to
make it a passable wagon road. 1t is
about six miles long, and when COM
pleted will furnish an easy down
grade outlet for the mine. Shoshone
county has borne half of the expense
of this road. and it is planned to be
consolidated with the Yellowstone
trail as the only direct road to the
south end of the county.
Operations were suspended on Oc-
tober 9Th of last year, as our finances
were exhausted and it was thought
best to avoid further call on stock
holders at that time.
Patent Claims-BuiId Mill.
Another matter of importance was
put under way the past summer. We
have made surveys and begun pro-
ceedings for patenting the II claims
which have heretofore been held by
possessory right only When patent is
complete it will make our title to the
ground secure, which, in view of our
now having known body of CONNER
cial ore, is a matter which must not be
longer delayed. These claims added
to the three already patented, and the
Copper Chief group of IL claims, which
are also in process of patent, will com
prise compact group of 81 patented
claims.
1.-THE cOmpany's property has now
reached a very favorable stage of de-
velopment. We have demonstrated in
our lower tunnel the existence of a
strong vein. with well defined walls,
carrying large known bodies of ore.
This ore can be worked at profit,
with suitable equipment. 1t is a favor
able ore for concentration and smelt-
ing. and while further exploration and
development of ore bodies may be done
to good advantage, l am confident that
there is sufficient tonnage in sight to
justify building a mill for it's treat |
ment, and | recommend, as our main
chance for success. the building of a
small mill just as soon as we can fl
nance it, to cost approximately $50, 900. |
We are doing what we can to enlist !
outside capital in the enterprise but |
the industrial depression has hindered |
our progress in this direction, and |
may delay us another year"