| Show PRINCE CON DIVIDEND AND STATEMENT directors oj of tile prince Con consolidated consolita solida ted mining smelting smelling Sm elting company operating at pio pioche clie nevada under tile the general management of murray C godbe of salt lake have declared an all extra dividend of 2 cents a share payable june julie 1st ast to stock of record of may 2401 it calls for and will bring the companas comp anys total for this year to date to the company has distributed since july 1915 when dividend payments were inaugurated the total that year was and last year was paid relative to the affairs of the company the following statement has just been issued tile the company owns and operates its own standard gauge railroad from the prince mine to Pio pioche clie a distance of about ten miles connecting with tile the salt lake route at Pio pioche clie this road was built in ill 1912 at a cost including locomotive equipment of approximately anly july 2 1915 the prince company raid paid its first dividend and from that date to the end of 1915 paid during 1916 was paid with the al april ril 2nd and dividend of the present year of the total to date is during 1916 the company acquired by purchase nine patented claims known as the pioche king group immediately adjoining the prince group tile the company owns in addition to its mining property the mill tailings at bullionville Bulli onville and dry valley about ten miles from the mine consisting of measured tons these tailings are from tile the mill operation when the ore from the original pioche mines was treated by the pan amalgamation process in the latter sixties and seventies some of them have been retreated but their average assay is now 65 per cent lead 10 ounces in ill silver and in gold during 1916 a flotation mill for the treatment of these tailings was built at a construction and development cost of about it is now beginning successful operation severe cold weather during tile the past winter delayed its success at that time at the present market price for lead and silver and on oil the basis of an 80 per pei cent extraction of the lead and 50 per cent of tile the silver and gold allowing 5 per ton toll treatment charges sale of product and depreciation on plant the profit from thih flotation mill figures per ton in the mine diamond drill holes have been put down from the sixth level to penetrate the beds below water and passed through several profitable sulphide beds of ore A contract has been let for the sinking of new holes 1500 feet from the sixth level or as deep as is necessary to pass through the overlying and limes to the underlying quartzite the marked similarity in the geology of the pioche district district and that of the park city utah district leads all mining engineers who have examined the prince mine to give it as their opinion that bedded deposits of ore will be found to have replaced the soluble lime hine beds wherever the min inin eral izing solutions have reached them and which replace the upper or oxidized beds f from rom which the present output f from roni tile the mine is being made there having been such an abundance of mineralizing mineral izing solutions in the prince zone as evidenced by the upper ore deposits no doubt all of tile the lower or soluble beds of limestone will be found completely replaced by the values in these mineralizing mineral izing solutions drilling will start at once under this contract and definite results will be known within the next sixty days the prince company is operating under smelter contracts for its mine output and mill concentrates which do not expire until 1922 |
