The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1923-03-01
HECLAORERESERVES
TO LAST MANY YEARS
ANNUAL REPORT, 1922
Covers All Details of Opera
tions---COmpany Makes a
Fine Financial Showing

ME ANNUAL report of tn,
Hecla Mining company for the
i year ending December 81, 1922
has been mailed to stockholders
IlS main features are report bv
James II. Mccarthy president and
general manager, in which he reviews
the more notable accomplishments of
the year; balance sheet, statement of
income and expenditures. tonnage and
cost statement, and comparative state
ment Of production assays and metal
prices for each year beginning with
1914 In his report Mr. Mccarthy
classes as the two most important
pieces of development work the con-
tnuation of the drift to the end of the
ore shoot on the 1000 level. and the ex-
tension of the star crosscut 1852 feet
during the year While he does NOT
say so, it is known that the ore shoot
on the 1000 level is about 1900 feet
long, practically the same as on the
1900 level. 400 feet above. and if there
is any change it is that the ore is of
better grade
Ore Reserves.
The most significant statement i'm
Mr. McCarthys report is the estimat-
ed ore reserves. Always conservative
/ ne places the ore reserves at 2.O57777
tons. I'm the statement of tonnage
and costs it is shown that in 1922 the
company treated 274.9S1 tons of ore.
and on that basis the known ore re-
serves at the close of the year were
sufficient to maintain production M
the present rate for more than seven
years. Add TO this estimate the abso-
Iute certainty of large increase in
the ore reserves as development pro-
crosses and il is evident that Hecla
has many years of profitable produc-
ton beyond the seven years now i'm
sight The company is now prepar-
ing to sink from the 2OOO level and
all conditions are favorable to finding
the great ore body unimpaired far be
low the present lowest level and i'm
fact to depth at which the increased
cost of mining will be the controllin,.
factor in determining its further de
velopment. Then there is the east
ore body, untouched below the 900
level, an asset of tremendous develop
ment possibilities: the Wide West
vein, which promises important ore
disclosures, and the probability Of
other ore bodies Of Importance in the
Tiger Poorman ground
Managers Report
Mr. Mccarthy tabulates the devcl-
opment work accomplished under the
headings drifts in ore and waste
crosscuts in ore and waste. and raises
in ore and waste the totals of which
follow Drifts. 9l4 feet in ore. 997 in
waste; crosscuts. 80 feet in ore. 51S1
includes 1852 feet in Star crosscuD
in waste; raises. 9lS feet in ore, 427
in waste; total feet advanced. 1929.
the report says:
"The most important pieces of de-
velopment work for the year were the
continuation of the drift on the 1000
foot level to the end of and beyond the
ore. and the continuation of the Star
which is being driven from
the 2O00foot level of the Hecla works
in conjunction with the Bunker Hill &
Sullivan Mining & Concentrating com
pany, for the purpose OF exploring the
star property at depth During the
year we advanced this work 1852 feet
This makes a total advance of iS47
'eet, and leaves an estimated distance
IF S277 feet to be advanced before
he vein is reached
This work has not met so far with
my special difficulty. We have en-
,ountered two water courses which
carried substantial amounts of water.
These were successfully closed and
he flow of water practically stopped
Dy grouting with a thin mixture of
cement and sand forced into the frac-
ured through drill holes under heavy
pressure by the aid of a locally con-
'tructed pump.
Monthly progress was satisfactory
throughout the year except for the
months of July and August. when
here was a short supply of labor.
"The only other piece of develop
nent of any note is the crosscut to
tut the Wide West vein at depth. This
,rosscut has advanced 546.S feet and
must be extended 700 feet more to
each the vein under the shallow work
described in last years annual report
This work should intersect another
small vein in its progress on. which
We have heretofore done no work
Dividends paid during the year
mounted to s95O,O0O making total
dividends to date $685. 600
Amounts charged for taxes in the
accompanying statement include all
1922 taxes as well as a revised assess
nent for federal income and excess
profits taxes for the year 1909 to 1918
fContin,,es an f,ape <,