Hyder weekly herald., 1931-09-02

Independence Gold Mining Co.,, Ltd: Capital 3,500,000 shares par $1.00. Property 12 miles north of Stewart on the railroad and l mile from the highway. Values in gold, silver, lead, zinc. Value of improvements $200,- 00O
 American Creek Mining Co.,, Ltd: Capital $1,000,000 par value 25 cents. Property located on American Creek. values, gold, silver.
 Upper Salmon River District
 Premier Gold Mining Co.,, Ltd: Capital S5,000,000, par value S1.00. Largest producer of gold and second largest producer of silver in Brit sh Columbia. Brought into product ion in 1918. since, which time it has produced over 1901 900 tons of ore, yielding over S1,171 800 ounces If gold, 30,440,000 ounces of silver The gross production in dollars has been S39,750,000 The payroll of the Premier and subsidiaries averages s700,000 per annum. The average number of employees in 1880 was i70 Underground workings include If miles of drifts, crosscuts and rais- as and the aggregate of diamond lrill holes is IS miles. The average yearly purchases of the company amount to $550,000. The tram em- ployed to convey ore to tidewater is he longest single drive tram in the world, with 23 miles of continuous raction cable employed over dist Ince of 111a miles. The speed of the ram is miles per hour.
 Premier has maintained full-time operation in spite of low-silver prices turing the past year and has made 10 wage reductions. This is a record .chieved by but few companies to whom silver is a principal source of 'evenue during the continued lower lg of the price of silver.
 B. C. Silver Mines, Ltd: Property djoins Premier on North and is con- rolled by Selukwe Gold Mining and finance Co.,, Ltd, of London, Eng. Mine developed down to the seventh ,evel and an approximate depth of 400 feet below surface. Several miles ,f underground work has exposed numerous valuable ore deposits, of an ,stimated value in excess of S6,000,- 900.
 Big Missouri Group: Controlled by 3uena Vista Mining Co.,, subsidiary of Consolidated Mining & Smelling Co.,. B claims and fractions, located miles north of Premier. The main ,ilicified zone, which is being eX- .>lored. has an indicated length of J00 feet, and varies from about 17J 0 300 feet in width In this area sev- Jral bands of silicified porphyry 10 O 50 feet wide occur and carry er- attic gold values, which in spots give
 
 ars. The general average, however is .ow. A 100-ton pilot mill installed last year is employed in the development ,perations. Development includes a arge amount of drifting and diamond irilling.
 Unicorn Mining Co.,, Ltd: Nine claims and fractions adjoining Big Missouri and presenting similar geological characteristics. Mineral zation is extensive. Values in gold and silver over a wide surface area md native gold is found frequently the main tunnel, now in about 100 feet As in the case of the Big Missouri the average is low. Develop nent results are uniformly encourag- | .ng.
 ] SaImon-Gold Group: Twenty-six claims on Summit Lake, north of Big Missouri, owned by Ted Morris, of Stewart, and associates. Scene of the districts latest important gold discovery naturalization pyrrohotite pyrite, chalcopyrite, zinc-blende, gal ena. Samples from the several ore zones taken by mining engineers show consistent gold content rang ing from OPS OF. per ton to 2.6S oz in IS assays. Silver content of the same samples ranged from a trace to HAP OF. per ton. Samples were obtained over widths of from one tc 10 feet Development by open cuts. I Attracted by the highly promising surface aspects of this property, the Premier Gold Mining Company ob
 tained an option while publication ot
 this edition was in progress and plans to do extensive diamond drilling
 thereon.