The Alaska daily empire., 1923-08-30
PLANS REVEALED FOR RE-0PENING
 CHICHACOF MINE
Development and Exploration to Proceed Simultaneous
 ly - Program Given.

Plans for the renewal of work at Chichagof include mining and milling Of the body of high grade ore in sight, milling of some 100000 tons of tail ings and considerable prospecting of areas embraced in the property awned by the company and, probably, of the Over the Hill claim jointly owned by the company and John Tuppella, J. w Cobb and Arthur Ooghe The program will be carried out un- der the direction of George T. Jack son, who, with W. A Casteton. re- gently closed a deal with the Chich- agoff Mining Co.,. by which they take possession of the property on Sep tember 10th
 The new owners have formed a company known as the Chichagoff Development Company. officers of this concern are: W A. Castleton. President, George T. Jackson, Vice President, and Roy F. Carmien, See retary.
 Start Up Soon
 IL is the intention of MT Jackson 10 leave Seattle as soon as the formal transfer takes place on Sept. 10th. He will at once start the develop . ment program This will consist of preparing for stoping the present known ore bodies preliminary to re- newed milling operations. The pros pectirg campaign will also begin. phe shear zone above the famous Temby and Rust ore shoots, where there are some 15000 feet of backs unexplored, will be entered. The shear zone between the Chichagoff and Golden Gate shoots will also be prospected Below the main tunnel level, between these two shoots, there are 1,700 feet along the shear zone to be prospeeted. It is believed that it will be possible to start milling operations within three months after the preliminary work has been com pleted.
 The over the Hill claim is owned 50 per cent by Tuppella, Cobb and Ooghe, and 90 per cent by the Chicha- golf Development Company. This claim has produced over $1,000,000 in gold. A contract that was made by the former company with the Tup- bella interests for the operation of the claim has been taken over by the new company. It runs until 1927
 Outlook Is Favorable
 The new owners are highly op- timistic over the outlook for pro fitable operations. It is said that a careful analysis of the situation shows there is in sight at the present time a profit equal tc, more than twice the capital required to put the pro perty on a paying basis. The pros poets of opening up additional high grade ore shoots are declared to be excellent and, while the develop ment of the lower levels proved some what disappointing, at one point a zone of mineralized formation was prospected showing values from $4 to s16 per ton. After the property is put on paying basis it is the intention of the new owners to do fur ther sinking and prospecting of the lower levels.
 The tailings from past operations furnish the field for further opera tions. These, which are stored on the beach, were sampled and checked by Messrs. Castleton and Jackson in making their examination of the pro perty and show an average value of $232 per ton. Experiments were made whereby, it is said, these tail ings can be successfully treated and 100000 tons can be recovered at an operating cost that will show a pro fit of S1 per ton.
 The Chichagoff Development Com pany is capitalized for S300,000, the capital stock issue consisting of 300,- 900 shares at par value of $1 each. The company plans to dispose of 100000 shares, holding the remaining 100000 shares in the treasury.