Show NORTHWEST NOTES special correspondence spokane wash july 10 the big eight mine at troy and eighteen miles west of libby mont owned by R L thompson of and john gordon and martin spokane grace of troy and their associates has been sold to a french frenchi syndicate for GO the deal it is announced by R M reynolds of troy bel being ang negotiated by spokane min the property has been extensively in air men developed arid and more improvements will be made as soon as the sawmill for which a site has been selected is installed A concentrator will be erected and it is expected to have the mill running early the coming winter directors of the mineral farm mining company operating at mullan ida have levied an assessment of three mills a share on shares of outstanding capital stock payable aug 31 to obtain funds to drive a long crosscut tunnel which will cut the ledge on the property at feet the tunnel is to be run in on the opposite side of the hi hill 11 from where work is now going on it is estimated that it will require from 1300 to 1400 feet of work the property is near several producers and it is believed that intelligent develop development meni will prove that it has the vein of the alice mine and will prove a paying venture the old workings are to be abandoned A two drill air compressor compres Eor will also be installed and all the buildings necessary to development at the new site including blacksmith shop office and bunk house will be erected the latter work will be started at once and work on the tunnel will begin as soon as possible the following officers were elected at the meeting president dan of missoula mont vice president F J mchugh of mullan secretary and treasurer F T whitmore mullan directors D dr E G ellis of missoula dr V van hook and dr E A matthaei of chicago and L C jaquish of spokane who will also be manager andrew prader a practical mining man has hai leased the cracker jack mine and mill in 1 the buffalo hump district and is ing to resume operations the property was recently sold to M J sweeny of hane on a judgment t obtained in foreclosure proceedings under the first mortgage on the property the mine was bid in at the sale by y mr sweeny who some time ago purchased the mortgage and the judgment uner der which the same was made the bid was but it is understood that the mine ne cost cost him at least twice this amount as 5 he has lately purchased several large bloc ks of the stock of the company mr sw beeny e MY and P j courtney were elected di rectors tors after r the sale although the com pany ny has a year to redeem the property there e is little likelihood that this will be done since mr sweeny owns a controlling controlling interest in the capital stock reports from wallace are that the monarch mining company has given a two years bond on its entire holdings in the district to the coeur dalene north fork mining company headed by E P spalding who is also one of the chief owners and manager of the monarch thedeas the deal i includes 1 an option to purchase at any time during the life of the lease for cash and shares of stock the fhe buying company assumes an indebtedness of and undertakes to expend not less than in development work of which worth is to be done this year development work cannot be suspended for mere than sixty days during any six months of the agreement unless caused by strike or accident C A phillips manager of the lipsic mine in the coeur calenes dA lenes reports that the old father lode is improving and is more than four feet wide of clean shipping galena there is no waste matter whatever in the vein in the no 3 tunnel an upraise is being driven to connect with the no 2 tunnel more than worth of ore is blocked out and shipments can be made any time if necessary the company is planning to put in a power line and electric machinery to cost about five hundred tons of ore was shipped from the mine just before the labor trouble in 1892 and gave net returns of to the ton after being hauled six miles to the railroad by team the gray copper mine near osburn seven miles from wallace ida has sunk its shaft 55 feet on the lead and the ore body has widened out to more than two feet the ore assays essays from 50 to 90 a ton and a shipment will be made to a tacoma smelter this month six tons of the ore is on the dump W H herrick manager plans to sink the shaft to feet then continue the lower tunnel which is in feet until the vein is struck drive an upraise feet and connect with the bottom of the shaft when the connection is made the mine will be well ventilated stockholders of the leslie copper mining company operating on the idaho mon tana divide have decided to drive a tunnel 50 00 feet in length to cut the ledge at a depth of 1650 feet more than shares were represented at the meeting the funds for the building of the tunnel which will cost have been provided for bythe by the directors and the work will begin at once and be completed as soon as possible considerable galena and copper ore has been found in the upper workings of the property if S auerbach consulting engineer of the properties in the coeur calenes dA lenes has brought out samples of ore from the recent strike these are excellent specimens of galena some being pure metallic lead with scarcely a trace of quartz or other foreign substance and assay as high as 81 per cent lead some of the ore runs 30 per cent lead and 5 per cent copper the strike is reported to be in a twenty foot vein the property is owned by capitalists of toledo 0 and george myers is president |