REPORT
ON
THE GEOLOGY OF
THE TIGHTNER MINE

Alleghany, California.

Structural Relations of the Tightner Vein.

The Tightner vein, near the point where it is cut by the lower tunnel, has a nearly north-south strike and dips to the east about 40°. This general strike and dip continues northward for about 800 feet, where the fissure is intersected by one having a northwest trend. The Tightner ledge turns to this fissure and has been followed for about 450 feet. A barren fissure, practically without quartz, continues for about 125 feet where it seems to die out. At the intersection of the north-south and northwest fissures ore has been found and followed upward along the intersection for more than 350 feet.

Close to where the tunnel strikes the Tightner vein, the north-south fissure is intersected by a weak northwest fissure which carries quartz to the southeast for less than 100 feet. The quartz on the north-south fissure passes through this intersection and meets a fissure having a southwesterly direction along which the ledge continues until cut by a fault

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near the end of the drift. This region of intersecting fissures
is also marked by the development of ore bodies, although
smaller and less continuous than those to the north.

In the upper workings the vein has been greatly disturbed
by a system of faults that have a general northwesterly trend.
Some of this faulting took place before the ledge was formed
and the fault fissures are themselves, in places, filled with
vein quartz. Ore was found in this region.

## Character of the Wall-rock and Vein.

The country rock is amphibolite with a well marked,
nearly vertical schistosity having a north-south trend. It
fractures readily along the schistosity, a feature which has
some bearing on the veins themselves, since it favors the
formation of many small, weak fissures rather than a few large,
strong ones. Furthermore, the fissures are not uniformly clean,
sharp breaks. In many places they might well be described as
shear-zones in which crushed rock lies between ill-defined
walls, and the change from a strong quartz ledge to barren
"formation" may take place with surprising abruptness.

The quartz of the richer portions of the vein is
usually in a ledge of from three to six feet in thickness.
Originally massive and milk-white with occasional crystal
lined cavities, it has been subjected to shearing and crushing
at several periods and has developed a sheeted or ribbon
structure that is characteristic of regions of good ore.
Although not without exceptions, this ribbon quartz is found
close to the hanging wall where the values also seem to lie.

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## Fissures and Faults.

Indications of a number of periods of shearing, fissuring and faulting have been noted. The first was that in which the vein fissures were formed, which include not only those having a general northerly or northwesterly strike and 35° to 45° dip to the east, but also nearly vertical fissures with the same directions. These vertical fissures, by which the inclined fissures were normally faulted, antedate the period of vein formation since the quartz, as shown in the upper workings, completely fills some of these fissures, and elsewhere the broken country rock within the fissures has been cemented by vein quartz which appears to be of the same age as that of the inclined fissures. The presence of quartz-filled open spaces in the vertical fissures is strongly suggestive that the fractures were pulled apart either by normal faulting along their own planes at the time of their formation, or subsequently by normal dislocation along the inclined fissures. The inclined fissures have been faulted by the vertical fissures fifty feet, more or less, while the differential movement of their own walls, supposing that this opened the vertical fissures, need not have been more than two or three feet.

Following the development of the quartz the veins were sheared and faulted. Movement along the planes of the inclined fissures was probably very slight, and, though the character is not susceptible of determination, it is believed to have been due to compression. The faulting is best shown in the upper workings where a number of north-west-southeast

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reverse faults have dislocated the Tightner vein with observed throws of from 18 inches to 40 feet.

The final result of these repeated movements is a generally massive ledge near the foot that becomes more fractured, sheared and crushed near the hanging wall. A heavy gouge along the hanging often contains finely crushed quartz and sometimes sulphurets and associated gold. It is especially noteworthy that the repeated shearing has left its mark not only in the vein but also in the wall rock, resulting in a treacherous hanging.

## Character of the Ore.

Good ore is usually characterized by the presence of arsenopyrite, which may occur in small grains or in masses an inch or more in diameter, and tetrahedrite in small irregular masses and specks disseminated through the quartz. These sulphurets were probably deposited at about the same time and toward the close of the period of quartz deposition; the gold, however, in the high grade ore is clearly later. The gold may be present either alone or associated in varying proportions with the sulphurets. When occurring alone it is found in small cavities or druses lined with quartz crystals, but more commonly it fills the minute cracks that penetrate the quartz in an intricate network.

The gold is often in contact with the arsenopyrite and tetrahedrite. In the case of the arsenopyrite, which in the larger masses is often cracked and cemented by later quartz, the gold is usually found about the edges, but it may sometimes

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occur in the interior, having penetrated along the minute fissures. The tetrahedrite has been attacked by the gold bearing solutions and may be seen in all stages of being replaced by the gold.

Pyrite does not appear as a primary mineral associated with arsenopyrite and tetrahedrite, but it often occurs in minute crystals and as a finely granular cement in the cracks and fissures of the crushed quartz near the hanging wall.

## Character of the Ore-bodies.

The rich ore-bodies always seem to occur at fissure intersections in those portions of the vein that have undergone shearing and crushing, the quartz having the characteristic ribbon structure. The intersecting fissures at the defined south ore-shoots are not as strongly/as those to the north, and it is significant that the largest bodies of ore yet found are located at the strong intersection at the north shoot. That part of the vein exposed in the upper workings which has been fractured and faulted also carried good ore, while at the extreme south, where the vein is also faulted, ore has been found, though of low grade.

Although ore is apt to occur at intersections, it is not necessarily found in continuous shoots. What may be termed for convenience the north shoot is, in fact, cut sharply into two parts, as thus far opened, by a barren zone some 25 feet wide parallel to the strike of the fissure. The quartz in this barren zone can not be distinguished from that of the

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richer portions of the ledge above and below, and yet it shows no values whatever. An equally sharp change is shown at the tops of the two most northerly raises. Here the ledge pinches abruptly and its place is taken by shattered and altered country rock and quartz stringers that carry no values.

This brings out a striking and economically very important feature of these deposits, namely, the sporadic occurrence of pay shoots. Although lines of intersecting fissures are clearly favorable places for the development of ore, shoots continuous for any great distance are apparently rare. The reason for this may be found, in part, in the country rock itself which, as already observed, favors the development of numerous pinched spots in the fissures and the formation of breccias rather than sharply defined fissures.

The same conditions seem to hold true to even a greater degree in the region of the southern shoots. The strong ledge from which a small bunch of rich ore was taken near the foot of the raise to the upper works dies out very quickly upward, and practically no quartz is found in the upper portion of the raise, though broken, seamy ground, apparently continuous with the fissure below, is followed for some distance.

The rich ore that was found in the upper workings was in those parts of the vein that had suffered marked dislocation or fracture or were in the immediate vicinity of intersecting fissures.

A feature of the Tightner vein that I have not observed in those with which I am familiar in the Grass Valley and Nevada

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City districts is that, at intersections the ledge turns from one fissure to the other, and does not merely pass through the intersecting fissure or receive a slight jog. At the north shoot this is clearly shown as well as the fact that each fissure, after being intersected by the other, dies out a short distance beyond the intersection.

Something more than the mere recognition of the fact that ore is found at intersections is necessary for a thorough understanding of the ore-bodies.

It is probable that at and near intersections of fissures larger and more continuous open spaces were formed than at points remote from such intersections. At first only quartz seems to have been deposited in the Tightner vein, and it is likely that the narrower portions were completely filled while in the wider parts, at intersections, open spaces remained near the hanging wall. It was not until nearly the close of the period of vein formation that the solutions from which the quartz was deposited began to carry notable quantities of the metallic sulphurets. These solutions were naturally confined to the trunk channels that were still open along the intersections, and consequently it is along these zones that the quartz is richest in sulphurets.

It has been shown that the gold of the high grade ore was deposited later than the sulphurets. There is unmistakable evidence that the vein quartz was sheared and crushed after the sulphurets had been deposited and that the introduction of the gold followed this disturbance. The visible gold of the high grade ore invariably occurs close to or in contact with arseno-

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pyrite or tetrahedrite. The tetrahedrite, although it has not been found in as large masses as the arsenopyrite, is more generally disseminated through the quartz. Many parts of the vein that carry tetrahedrite have gold also present but in too small quantities to pay for mining. It is not unlikely that both arsenopyrite and tetrahedrite as original minerals carried small amounts of gold; the very richness of the ore, however, makes this a difficult point to prove.

Whether or not the sulphurets carried original gold, the fact remains that the presence or absence of the gold of a later generation seems to determine the important question as to whether the quartz is to be regarded as ore or waste. No evidence, however, has been found either in regard to the condition of the ore minerals or in their relations to one another to show whether the later gold-bearing solutions were descending or ascending.

The occurrence of pyrite does suggest, it is true, that descending ferric sulphate solutions may have been the carriers of the gold, but no close association of the gold and pyrite has been observed.

Taking this and other bits of evidence into consideration, however, the later genesis of the gold might not unreasonable be attributed to the agency of descending waters. Thus, the gold apparently replaces tetrahedrite and has been deposited upon it and arsenopyrite; it occurs in cracks and minute fissures in the quartz and arsenopyrite; the relatively small bodies of rich ore have no continuity; and, finally, at the Plumbago, near by, the ore though slightly richer in sulphurets than that of the Tightner, had essentially the same mode of occurrence in the upper levels, but

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in depth, although the sulphurets continued, the values dropped so low that the ore no longer paid to mine. Although this evidence suggests that the rich pockets and small shoots of good ore are due to local enrichment of the vein by descending waters, and that in consequence a continuation of ore of the same grade or richness is not to be expected to a depth much below the general drainage level of the district, it must be remembered that the evidence is largely circumstantial. Nevertheless it is important that this possibility be kept in mind, and that in the exploration of the vein in depth the character of the sulphurets should be carefully watched for any indications of change.

## Exploration.

In the preliminary report I referred in a general way to the prospecting of the vein above the lower level. That in the vicinity of the northern ore-shoots is already under way and calls for no further comment. More must be said, however, in regard to the southern area.

Between the South Shaft and the fault 200 feet to the south the ledge is strong and the region one of considerable disturbance. The ground above and between the ends of the drift and the south end of the upper workings should be prospected, perhaps by continuing the raise above the south shaft and running intermediates. In addition to this the conditions at the extreme south end should be seriously considered. Judging entirely from the underground evidence at the south end, the fault that cuts off the ledge on the foot wall drift seems to have had its upthrow side to the southwest. In the hanging wall drift, what is supposed to be the foot wall ledge is brought

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against the hanging by the fault. If this is the case the assumed vertical displacement would be about 50 feet. A raise in the hanging south of the fault would, of course, prove this. It is doubtful if very much exploration should be done in this region for the present because of its proximity to the boundaries of the property: certainly not, at least, until the relations between the workings on the lower level and the end and side lines of the Tightner property have been accurately determined with respect to the Twentyone. Then this has been done it will be possible to plot the outcrops of the Twentyone vein and determine approximately its position with respect to the probable southern extension of the Tightner beyond the fault. Judging from the surface indications the Twentyone is a strong vein, and there would seem to be an excellent possibility of its intersecting the Tightner at some point not far from the end of the south drift. I consider it very important that as much information as possible be secured in regard to this matter.

As stated in the preliminary report, similar information is greatly needed concerning the relations between the Tightner and the possible southerly extension of the Red Star. That is, the Red Star workings should be accurately located with respect to the Tightner, and the same information secured in regard to the Osceola. After this has been added to the Tightner map it ought to be possible to continue the search for the Red Star according to some definite plan instead of blindly as at present.

Although the exploration above the lower level and at the end of the north drift is important, the suggestion as outlined above, that the high grade ore may be due to secondary

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downward enrichment, makes it imperative that this be tested by
sinking shafts below the north and south shoots with as little
delay as possible. Although the shaft started near the south
shoots is necessary and desirable, exploration of the ground
below the north shoot will probably supply information of greater
value because the intersection is a strong one and likely to
continue as such for some distance lower down carrying with it
the strong shoot of ore developed above. Any marked change,
therefore, in the character of the ore might confidently be
attributed to different conditions in depth. If the intersection,
and consequently the shoot, were well defined and weak, one would
hesitate to condemn the vein because of a very natural doubt as
to whether the loss in values was due to changes due to depth or
to the dying out of the shoot itself.

It is impossible to predict how deep the higher grade ore
may extend, supposing it is due to secondary downward enrichment.
It is a question that can be decided, however, by the simple ex-
pedient of sinking. If the ore is found to have a definite lower
limit the information will be valuable, while, if no change in
the character of the ore takes place in depth, neither time nor
money will have been wasted.

Preliminary Report. October 1, 1913.

# The Geology of the Tightner Mine.
## Alleghany, California.

### Structural Relations of the Vein Fissures.

Ore has been found at three different places on the Tightner vein: in the old workings of the upper levels; near the point where the vein was first encountered on the lower level; and finally in the newer ground opened up some 600 feet to the north above the lower level. At each one of these regions the ore has been found in the vicinity of intersecting fissures.

In the upper works nearly vertical fissures have intersected the northerly and northwesterly striking fissures that dip 35° to 45° to the East.

At the southern area northerly, northeasterly, and northwesterly fissures intersect at low angles, while at the end of the South drift a vertical northerly fault fissure has been encountered.

At the northern area is a strong intersection of north-south and northwest-southeast fissures, and here also the largest and most continuous bodies of ore have been found. The northwest fissure, to which the vein turns at this point, has been followed for 400 feet without finding any more ore.

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though the drift has been continued in the expectation of meeting the supposed southern extension of the Red Star ledge.

## Character of the Country Rock.

The schistose and readily cleaved country rock, amphibolite, does not favor the development of fissures of great continuity, nor of a ledge within the fissure walls that can be expected to present uniformity except over comparatively small areas. Thus, the quartz disappears entirely for a distance of more than 100 feet on the drift between the north and south ore bodies, and even in those portions where ore is found the quartz may give way abruptly to a fissure filling of mashed and shattered country rock or "formation".

## Exploration above lower level.

At the northern area the ore has been well developed by raises and intermediates for nearly 400 feet above the lower level, while indications of good ore have been met at the top of Number 5 Raise 360 feet from the drift and about 160 feet below the upper workings. Two small, though rich bodies of ore have been found in the southern area, but little further prospecting has been done in that region.

Considerable ground between the upper and lower workings still remains unprospected, especially in the region between the southern ore bodies, the end of the south drift, and the upper workings. The ground above the middle portion of the lower level, where the drift runs nearly north and south, is clearly unpromising, but the upper portion of this block below the upper workings and south of Number 5 Raise is worth

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prospecting by an intermediate from the raise.

Although the northerly raises on the northern ore body
had run into barren formation at the time of my visit, there would
seem to me to be a fair chance of finding the ledge again higher
up, although the general line of intersection between the north-
south and northwest fissures, near which ore is likely to be
found, lies more to the south somewhere between the Number 12
Raise and the new raise close by, in which locality there seems
to be an excellent showing of ore. The likelihood of ore con-
tinuing upward along the line of the intersection is good, and
the ground between this point, i.e. the new raise, and the lower
level of the upper workings will of course be prospected.

Exploration below Lower Level.

Although highly important that this prospective ground
above the lower level should be explored, it is most desirable
that the ground below also should be thoroughly prospected.
Preparations have already been made for sinking a shaft in the
southern region at a point near the most southerly raise. It
is very important, however, that another shaft should be started
as soon as possible below the far more extensive northern shoots.

On account of the irregular distribution of the small
masses or bunches of high grade ore characteristic of this vein,
it will be well to continue the present policy of starting raises
or drifts at frequent intervals.

North Drift.

The North Drift has been continued for more than 400 feet
beyond the point where the vein pinches at a crossing, past which

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the fissure becomes less and less well defined, and, after another
150 feet, is finally lost. The end of the drift is at present in
broken country between poorly defined vertical walls and seems to
be following a crossing. Between the end of the drift and the
point where the quartz pinches, three fissures carrying quartz
make off to the right or into the hanging. They carry from three
to eight inches of quartz and have a northerly or slightly north-
westerly trend and steep easterly dips.

The work now being done is altogether blind and there are
no indications of more promising ground being found in the im-
mediate future.

The North Drift has been run on the theory that the Red
Star ledge continues south holding to the same strike and dip
that it has where exposed in the workings close to the bed-rock
surface. The distance from the Red Star to the present end of
the North Drift is about 2600 feet. Judging from the map the
Red Star workings are not sufficiently extensive to
give a very clear idea of the relations of the Red Star vein to
the Osceola. Three possibilities may be considered: (1), that
the Red Star passes through the Osceola unchanged in strike and
dip; (2), that the Red Star, though passing through the Osceola,
is affected by the same or a similar system of faults as that
which dislocates the Tightner vein in the upper workings; or,
(3), instead of passing through the Osceola, the Red Star ledge
turns to the Osceola and follows this fissure in a southeasterly
direction.

The first possibility seems to have been pretty well dis-
proved by not finding any indication of a strong north-south ledge

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in the course of the North Drift, except for the three fissures mentioned.

Under the second possibility one would expect to find the Red Star ledge in the foot-wall country to the west of the present North Drift, while if the last condition holds true, the ledge should be sought in the hanging to the east on the Osceola fissure.

One other feature that must not be overlooked has already been referred to, namely the sudden changes likely to occur in the direction and continuity, not only of the quartz ledge, but also of the fissures, on account of the physical character of the country rock. In other words there is an excellent chance that the Red Star may die out altogether in the 2600 feet between the end of the North Drift and the Red Star workings. Cross-cuts in the foot and hanging will probably be necessary to decide these questions, but before starting them it is important that all available information concerning the relations between the Red Star, Osceola, and Tightner be collected and recorded on the Tightner map. It is not unlikely when this has been done that the relation of the North Drift to the possible southerly extension of the Red Star will appear less puzzling, and that the simplest procedure will be to crosscut direct for the Osceola or Red Star.

If the conditions of the option permit it would be well to discontinue work on the North Drift until the information indicated above has been added to the map, and in the mean time the two hanging-wall splits that leave the North Drift 100 and 200 feet respectively beyond transit point 51 both offer better prospects than the end of the present drift.

Notes on the Tightner Ore.

January 31

1914.

The lead-colored mineral that is commonly present in the high grade ore was referred to as tetrahedrite in my earlier report. Blow-pipe and simple chemical tests show that it is composed of sulphur, antimony, lead, copper, arsenic, and a little bismuth. On account of the massive habit of the mineral I have been unable to discover any hint as to the crystal form, while the quantity of material that I was able to collect was insufficient for a rough quantitative analysis. Therefore the name tetrahedrite will be used with the understanding that it is provisional and that the mineral may be in reality either a member of the bournonite or zinkenite groups.

Examination of polished specimens of ore.

A microscopical study of polished specimens of the ore has shown beyond any doubt that arsenopyrite is older than both tetrahedrite and gold. Arsenopyrite has been fractured, and the minute cracks have been filled by quartz, gold and tetrahedrite, and, in addition to filling cracks, the gold has apparently replaced the arsenopyrite to some extent. Although the gold is considerably in excess of tetrahedrite, the two have probably formed contemporaneously. These features are shown in the accompanying drawing (1).

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An examination of other specimens consisting of gold and tetrahedrite in quartz (drawings 2 and 3), leads to the conclusion that the intergrowth of tetrahedrite and gold is primary and that they were deposited contemporaneously. The older vein-quartz may have been partly replaced by the metallic minerals, but these have also formed in open spaces, as shown in drawing 2, where a later quartz crystal is seen enclosed in still later tetrahedrite. The same relation of quartz, gold and tetrahedrite may be made out in partly filled druses in hand specimens. In addition to this younger quartz, one specimen shows quartz crystals of still younger generation enclosing gold.

The point of special interest brought out by these specimens is that the gold and tetrahedrite appear to be of contemporaneous origin. The character of the intimate association of gold and tetrahedrite is not clearly shown in hand specimens, but that both of these minerals are younger than arsenopyrite can be made out by careful inspection.

It is certain, therefore, that although the gold is of later origin than the arsenopyrite, and in a sense secondary, it must be recognized as having come from below, and that the high grade ore has not been developed by any process of secondary downward enrichment.

## Topographic Evidence Against Secondary Downward Enrichment.

The placer gold in the Tertiary gravels was derived from upper portions of the quartz veins which were destroyed in the process. The beds of the old river channels determined the water level below which it is unlikely that any secondary deposition of

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placers was due to secondary downward enrichment).

Since Tertiary time erosion has carved deep valleys far below the level of the older channels, yet the gold occurs in those portions of the veins now explored below the level of the bench gravels in much the same concentration that it must have had in the upper parts at the time they were being broken down by Tertiary erosion. The richness of the present high grade ore can hardly be attributed to a later downward enrichment because there were no older portions of the veins remaining to act as sources of supply. It seems generally true in the Alleghany region that the oxidized zone seldom extends to a greater depth than ten or fifteen feet below the bed-rock surface -- a zone utterly inadequate to have furnished the gold found below. That is, the present veins and shoots could not have been enriched from above during Tertiary time because far below water level, while since the Tertiary there has been nothing wherewith to enrich them.

Both the mineralogy of the veins and their relation to past and present topography indicate that the concentration of the gold in the high grade shoots was not brought about by descending solutions, while the association of gold and tetrahedrite indicates that the gold bearing solutions came from below at some time after the arsenopyrite had been deposited and fractured.

From the invariable association of arsenopyrite with the high grade ore it is probable that this mineral had much to do with the precipitation of the gold and tetrahedrite from the

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ascending solutions, and the location of ore shoots seems to have
been largely dependent on the rather fortuitous occurrence of
arsenopyrite. There is nothing to indicate, however, that arseno-
pyrite was the sole cause of precipitation; temperature and
pressure both may have had a decided influence. That is, pre-
cipitation may not have begun, though arsenopyrite was present,
until the ascending solutions reached a point at which conditions
of temperature and pressure were favorable. There might thus
be a fairly well defined lower limit to the shoots of high grade
ore. That something of this sort may exist is suggested by the
apparent lower values found in the Plumbago in depth, as I have
elsewhere pointed out. Another cause of lower values might be
attributed to the absence of crushing or fracturing later than
the arsenopyrite, the ascent of the later gold bearing solutions
being thus prevented. That such variation may occur laterally
is shown to be true to some extent by the location of ore
shoots along lines of weakness and consequent easy fracture
such as intersections.

These possibilities have been dwelt upon in order that
the impression may not be received that the gold is confidently
to be looked for in depth because it has not been concentrated
by downward secondary enrichment, although one is justified
in expecting a continuation of values to a greater depth than
could have been hoped for had the possibility of downward
enrichment not been definitely eliminated.

REPORT TO THE STOCKHOLDERS OF THE
TIGHTNER MINES COMPANY.

During the year 1916 the Tightner Mine produced 27503 tons which yielded $266,885.40. This is $9.70 per ton as compared with $6.25 per ton in 1915.

In September 1916 a lease on the Old Tightner dump was given Messrs. Martin & Hathaway. This dump produced 1075 tons yielding $17,150.06. Of this amount $6263.71 has been paid the Tightner Company as royalty. Concentrates shipped during the year yielded $2290.10 from 22,275 lbs. Total receipts from ore milled and from royalties amounted to $273,227.94. This compares with $185,230.15 during 1915.

Expense of operating the property during the year amounted to $111,378.35 or $4.05 per ton, of which amount 26 cents was for general expenses. This compares with a cost of $4.72 per ton total in 1915 with 53 cents per ton for general expenses.

During the year, 1953 feet of development work was done, exclusive of much stope prospecting. Of this footage 1342 feet was drifting, 601 feet raising, and 10 feet cross-cutting. This is at the rate of one foot of development for each 14 tons stoped. The drifting was largely confined to advancing the tunnel level north under the Red Star property, and to driving the bottom level south from the north shaft. The former has disclosed a large vein for 800 feet or so; but as yet has developed no pay ore. The latter developed a large vein or quartz showing promise.

During the year, 16175 shifts were required for the entire operating. This gives 1/7 tons per total shifts employed. Power consumed amount to 38.5 KWH per ton. The cost of supplies was $.91 per ton.

The year's operation has placed the company on a better footing financially than it was at the beginning of 1916. There was sufficient money in the treasury on January 1st, 1917, to pay the balance owing on the property to H. L. Johnson, and to leave for working capital about $40,000. The management believes that, before dividends are paid, the cash balance be at least $50,000 and that it should be built up to $100,000 as soon as possible because the peculiarities of the district are such that much prospecting is required to find profitable ore bodies, often the returns for months are insufficient to pay expenses. Therefore it is unwise to attempt doing our present business with less than this amount as working capital. The property has promise of being valuable and warrants extensive and expensive prospecting. $100,000 working capital is a necessity -- not a luxury.

Suspicions were aroused during the year that the mill might not be saving all that it was supposed to be saving and systematic sampling of the tailings has confirmed this suspicion. It is believed that a small cyanide plant will be advisable in conjunction with the mill. Shortage in the supply of cyanide at present makes this construction uncertain however.

Another piece of construction that appears imminent is the erection of suitable quarters for the employees of the Company.

In closing, it may be stated that the gratifying results of the prospecting done during the year are largely due to the efforts of Mr. Abe Hall, the Company's Superintendent, that he and his assistants are entitled to the thanks of the

2

stockholders for the successful prosecution of the work of the
past year.

Following is a financial statement, showing the
results of the year's work, and a consolidated statement show-
ing the financial results of the Tightner Mines Company since
inception.

3

STATEMENT OF RECEIPTS AND DISBURSEMENTS OF THE
TIGHTNER MINES COMPANY.

<table><thead><tr><th>for the year</th><th></th><th style="text-align: right;">1916</th></tr></thead><tbody><tr><td colspan="3" style="text-align: center; font-weight: bold;">RECEIPTS.</td></tr><tr><td style="font-weight: bold;">BALANCE ON HAND</td><td></td><td></td></tr><tr><td style="padding-left: 20px;">Wells Fargo Nevada Nat'l Bank, reg a/c</td><td style="text-align: right;">8322.19</td><td></td></tr><tr><td style="padding-left: 20px;">Nevada County Bank, reg acct.</td><td style="text-align: right;">515.89</td><td></td></tr><tr><td style="padding-left: 20px; border-bottom: 1px solid black;">Nevada County Bank, reg acct.<br>" " super acct.</td><td style="text-align: right; border-bottom: 1px solid black;">949.30</td><td style="text-align: right; border-bottom: 1px solid black;">9787.38</td></tr><tr><td style="font-weight: bold;">BULLION</td><td></td><td></td></tr><tr><td style="padding-left: 20px;">Net mint returns from bullion and<br>royalties from dump</td><td></td><td style="text-align: right;">273227.94</td></tr><tr><td style="font-weight: bold;">INTEREST</td><td></td><td></td></tr><tr><td style="padding-left: 20px;">Paid on Bank accounts</td><td></td><td style="text-align: right;">593.97</td></tr><tr><td style="font-weight: bold;">BULLION EXPENSE</td><td></td><td></td></tr><tr><td style="padding-left: 20px;">Cash</td><td></td><td style="text-align: right;">10.</td></tr><tr><td style="font-weight: bold;">GENERAL EXPENSE</td><td></td><td></td></tr><tr><td style="padding-left: 20px;">Refund on insurance</td><td style="text-align: right;">62.43</td><td></td></tr><tr><td style="padding-left: 20px;">" on income tax</td><td style="text-align: right;">1.97</td><td style="text-align: right;">64.40</td></tr><tr><td style="font-weight: bold;">OPERATING AND DEVELOPMENT</td><td></td><td></td></tr><tr><td style="padding-left: 20px;">Miscellaneous</td><td style="text-align: right;">13.06</td><td></td></tr><tr><td style="padding-left: 20px;">Rent</td><td style="text-align: right;">120.</td><td></td></tr><tr><td style="padding-left: 20px;">Materials and supplies</td><td style="text-align: right;">713.75</td><td style="text-align: right;">846.81</td></tr><tr><td style="font-weight: bold;">Total receipts</td><td></td><td style="text-align: right; border-top: 1px solid black;">284530.50</td></tr></tbody></table>

DISBURSEMENTS.

H. I. JOHNSON

25% of $266,885.40 deposited, mint returns 66718.18
" " 17,422.01 " dump " 4355.50
Payment made J.M.O'Brien for Mr. Johnson 2037.
Shortage on 1915 payments 5.33 73116.01

GENERAL EXPENSE

Miscellaneous 1044.19
Salaries and labor 1231.50
Legal 62.35
Insurance 2811.91
Taxes 1766.16 6916.11

BULLION EXPENSE

Express and stage 286.28

OPERATING AND DEVELOPMENT

Miscellaneous 3050.81
Materials and supplies 25456.84
Labor 62436.51
Power 13231.80 104175.96

BALANCE ON HAND

Wells Fargo Nev.Nat'l.Bank,reg a/c 35983.87
" " " " spec " 60354.49
Nevada County Bank, reg acct 2993.38
" " " super " 740.40 100036.14
" " " super " 284530.50

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DISBURSEMENTS.

H. L. JOHNSON

| | | |
| :--- | :--- | :--- |
| Amt. paid on acct. of property | 1912 | 49909.87 |
| | 1913 | 140524.53 |
| | 1914 | 49539.17 |
| | 1915 | 126252.20 |
| | 1916 | 73116.01 |
| | | 439341.78 |

J. M. O'BRIEN

Amt. paid on acct. of property 1912 40000. 40000.

DIVIDENDS

| | | |
| :--- | :--- | :--- |
| Preferred stock | 1912 | 8000. |
| | 1913 | 54000. |
| Common | 1913 | 110000. |
| Dividends | 1914 | 50000. |
| | | 222000. |

GENERAL EXPENSE

| | | |
| :--- | :--- | :--- |
| 1912 | 2594.35 | |
| 1913 | 14808.38 | |
| 1914 | 20280.99 | |
| 1915 | 15763.11 | |
| 1916 | 6916.11 | 60362.94 |

OPERATING AND DEVELOPMENT

| | | |
| :--- | :--- | :--- |
| 1912 | 60838.92 | |
| 1913 | 103774.11 | |
| 1914 | 131388.03 | |
| 1915 | 124742.04 | |
| 1916 | 104175.96 | 524919.06 |

BULLION EXPENSE

1916 286.23

INTEREST

1915 176.71

IMPROVEMENTS & CONSTRUCTION ACCOUNTS

| | | |
| :--- | :--- | :--- |
| Road Const.1913 | 3797.27 | |
| Power Impr. & Equipment 1913 | 19641.73 | |
| Mill Const. & Equipment 1913 | 25210.02 | |
| House const. a furnishing 1914 | 1327.66 | 49976.68 |

SAW MILL

Paid for lumber used 1914 500.

PROPERTY PURCHASE

Cole saw mill, 1913 907.20

BILLS RECEIVABLE AND UNSETTLED ACCOUNTS

| | | |
| :--- | :--- | :--- |
| Saw mill account debtor | | 2771.65 |
| Alleghany road fund debtor | | 15000. |

CASH BALANCE ON HAND

| | | |
| :--- | :--- | :--- |
| 1912 | 66353.47 | |
| 1913 | 140944.20 | |
| 1914 | 90398.79 | |
| 1915 | 9787.38 | |
| 1916 | 100036.14 | 407519.98 |

Total 1763762.28

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