Show THE GOLDEN REEF willard pherson of utah who was in salt lake a few days ago is much encouraged over the future outlook for the golden reef mine in which he is heavily interested in speaking of this property the daily telegram says considerable attention is being paid to golden reef of recent date and a number of people have asked what has happened at the mine to cause the stock to advance so rapidly willard pherson and thomas fautin secretary and treasurer of the company are up from their homes in B and when asked for a statement regarding the development work said our company owns twenty six claims situated about six miles north of frisco we have owned the property for eight years and have been steadily developing it during in this period to date we have feet of ground opened up this including shafts tunnels raises and crosscuts cross cuts the main working shaft is down to a depth of feet and the bottom of this shaft is in a low grade ore we will extend it twenty five feet more and then start the third drift to the ore bodies that have been opened above the first deposit was found at a depth of eight feet and the second at a depth of feet we believe that we will again tap it at a depth of feet we are extracting some ore from the first two workings in this shaft and at this time have at least tons of gold and lead ore on the dump we are making arrangements to market this product at once which carries an average of 30 gold and some lead to the ton the company is incorporated for shares and there is still remaining shares we hope to be able to keep this stock intact as with the shipments we are preparing to make it looks as though we can pay our running expenses we have the property equipped with a large hoist and other improvements and there will be no necessity for expenditures on this score we have had a number of offers for the property by various mine operators but the stock is largely held in our home town and in salt lake city and we have decided to make a mine tor for our own use |