Show concerning THE MAJESTIC boston financial news E E t Aber abercombie abercromble managing director of the majestic copper company has just returned from an inspection of the property in utah where he with manager ingols laid out plans for development work and the increase of production which has been in mind for the past six months the property never looked as well as it does dees at the present time there is more ground opened and the shipments at the present time are double what they were a month ago the ore that is now being shipped is ore that was already mined but had not been sent to the smelter we are clearing this up and making ready for the better ore that is showing in the lower levels said mr Aber abercombie S good ore has been encountered in the gomer Gomen shaft where the vein is 20 feet wide between the walls and carries 17 per cent lead and 14 ounces in silver this shaft is now down to the water line and a station has been cut there for an electric pump which was wa s ordered on may 1 and will be installed just as soon as it arrives this will enable the management toga to go ahead with the sinking of the shaft and the further uncovering of the ore body which is now showing the best values ever opened in majestic the indications are that the good values continue as the vein is much stronger at depth than it was near the surface and has constantly improved in the old hickory tons of ore averaging 3 per cent copper are in sight the shaft now has a depth of feet and it will be continued to the 1500 before there is any more active crosscutting this will again cause a big increase in the ore in sight the 0 K mine has encountered another chimney of quartz carrying sulphides sulp hides the same as previously encountered we intend to follow the formation down as we did in the similar one the depth of the shaft is feet the hoosier boy which is under option to the property is being worked by leasers leaders who are operating under the direction of the superintendent this ore body has struck into a rich body of ore that nets 33 69 a ton the surface equipment is in excellent shape and the company proposes to get the utmost out of that equipment as rapidly as possible the majestic owns 2450 acres of mineral land 1100 acres of miscellaneous lands and an 80 acre As can be readily seen from the large territory and the small amount of development work done it is still in the earliest of development stages henceforth it will be run from the business point of view and with the sole idea of placing its large mineral resources on a sound business basis the company has met bond obligations to date and has money on hand for the payment of the next installment which falls due in october stories to other e effect are without foundation 0 |