Show THE GOLDEN REEF MINE richfield reaper the annual meeting of the stock holders of the golden reef mining company was held at elsinore tuesday and after the presentation sen tation of reports by the officers the old board of directors were elected a as S follows follow r D W woodard president thomas foutin vice president H N hayes secretary and treasurer J H erickson treasurer J A ross in response to many inquiries from the stockholders of the golden reef company as to the progress of the work and the condition of the company the following statement ment has been issued by the officers during the last year work upon the property has been confined to driving a tunnel to tap aap what is is commonly called galena vein which said vein crops out prominently on the surface A first class tunnel four feet wide and six and one halt half feet high has b been e en run into the hill for a distance of feet and an upraise of 70 feet has been cut to obtain air connection it 1 is expect expected ted that the galena vein will be reached within the next feet when we have every reason to believe that a body of good ore will be encountered the face of the tunnel is now in lime formation which carries oxidized iron this is the first time that we have encountered lime since working the property and we take it t as a good indication about feet from the mouth mo of the tunnel and at a depth of about PRO feet from the surface of the dip of the vein a body of ore was encountered upon which we have sunk a about 18 feet deep below the bottom of the tunnel and was in a body of ore oreall the way and in the bottom of the there is now a vein of ore four feet wide which contains a pay streak 18 inches wide averages samples of which thoroughly mixed run from about 40 to 50 per ton most of the values being gold the work of driving the tunnel and further prospecting and developing the body of ore is now being continued we do not hesitate in saying that to best of our judgment the conditions now existing on the golden reef proper property tr are the most encouraging of any time during its history the financial condition of the company is such that the assessment of one half cent per share now being levied will liquidate all of its indebtedness and leaves some margin with which to continue the work above mentioned |