| Show l 14 r I JJ1lft I I JA I t f UNCOVERED GOOD ORE Favorable Indications in the Japan InclineTunnel HIGH GRADE GOLD ROCK MINEBAL THAT CABBIES 84800 I THE YELLOW METAL I Inactivity in the Pit But Little Demand De-mand for Stocks and Securities Decline The Transactions of the Week Almost Featureless Daly 1 and Daly West Made Advances and Closed Strong Struck a Fissure Fis-sure Encouraging Showing in the Opex Ground at Mammoth Looks a if the Company Would Catch the CentennialEureka I Vein Sale of the Clinton Mine Comforts of a Delmonico in the Mountains I The officers of the Japan Mining company com-pany have reason to feel well pleased with the showing that has been made 4 l within the past few days in the group A of five claims owned by the corporation corpora-tion in Ophir district The Japan ground is located across the canyon from the Northern Light mine on Chloride hill and adjoins the famous old Buckhorn and is In the near vicinity of the Hidden Treasure The Japan has been worked in a desultory manner for a number of years but now it is being developed in a systematic manner by the Japan company and the encouragement that has been met with during the past week is such as to lead to the belief a that now it is only a question of time e and work until the property will taker take-r nk as a producing any paying mine When the company commenced operations oper-ations four months ago it began the atons driving of an incline tunnel and at a distance of 45 feet it was rewarded by uncovering a strong ledge four feet between walls which is believed to be a fissure a the formation on both sides is lime The vein where first disclcsed gave average values of 40 ounces silver and 7 per cent copper to the ten while seams through it there were pockets and stringers of high grade ore that carried excellent gold values as well I as silver and copperAs copper-As it has been the intention of the company to open up the ground in a thorough manner the incline tunnel was then driven along the side of the ledge until a distance of 100 feet was attained and last week at this point what is believed to be a crossvein or feeder came into i the face of the tunnel I tun-nel from the t and the tare t-are that within a few feet more a chute or chimney of very high grade ore will be disclosed or Already the new discovery has been penetrated for a distance of three feet and the character of ore that has been uncovered is such as to carry out the theory that in the Japan there will yet be disclosed one of the richest producers to be found on the hill and there are a number of mines in that locality that have made wonderful rec ords in the past in this line Some of the ore ranges way up in gold values while in some of the samples now on exhibition at the office of the company in the Atlas block native silver can be seen and assays that have been obtained from the new strike show a t range ebtaine values from 40ounces to 1000 rnge I ounces in silver and trace to 4SOO in 11 t th t nn I bV v The indications are that the main ledge has increased in size since leaving e leav-ing the 45foot station but it will not be crosscut until the tunnel has been h driven a distance of ten feet further incorporated The Japan Mining company was corporated four months ago with a capitalization cap-italization of 20000 shares of a par Italzaton 1 each 7500 shares of which were set aside as treasury stock Of the treasury stock 3600 shares were subscribed for at 50 cents a share leaving leav-ing 3800 shares in the treasury and this has been withdrawn from the market a the company Is in good financial condition and is in shape so fnancial can push development work steadily from now on The company is what might be termed a close corporation and is very conservative In its operations yet at the same time It is doing business on a business basis without any special bombast display or bombast In the organization of the company the officers and directors were named as follows Shand Smith president H Cart wright vice president H 3 Dule treasurer AV F Shelton oUretary Charles R and John Higson Surrounded a it is by noted mines such as the old Mono the BuoY rn the Hidden Treasure ani the Kear sarge there is no reason why the Japan judging from present indications indica-tions should not develop into a prolific pro-lific producer of the precious metals I |
