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Show I LOWER MAMMOTH I IS IN FINE SHAPE j Annua) Directors' Meeting on Monday Discloses a Very ; Good Condition. I OPENED LARGEST ORE BODY OF HISTORY j Company Is Now Shipping Ore I Steadily and Future Is Most Promising. W i h- annual meeting ol the directors of t)i" I.obt Mammoth Mining company Monday afternoon a moot excellent show- ing was made as to the condition or both the finance and physical conditions of the property, a report was submitted by an executive committee composed Ol H. G. McMillan. A C. Kills, Jr.. and A Reeves Thli report was most exhaus-five, exhaus-five, and the condition! It portrayed were highly pleasing to the directors. Valuable Part of Development. In this report it is stated that the man-Bremen man-Bremen 1 expected dally til reach the e;st BMUre In (he cross-cut from the shaft mi the 1550-foot lev ( I. This work has been expensive, but It watt considered a most Important and valuable part of the coni-l coni-l plete development of Ihe mine This work i penetrates ;i large area of virgin ground. anrl tlie Impi u 1 .1 n f lliis portion Of the mine's development Is Illustrated by the fun tbal from the time Whan work wits discnni Intied on the noo-foot level the H wor)c has furnished the company aside from smelting ami freight charges (le nei um of $20u.'n Confined Effort to Low Level. Work Oil the 1 Km-foot level was ton ex- penalve wing to the large amount of waste ground that Should have been in-evsar in-evsar ! handle for this reason the B management confined Its more recent de- velopnients to the 1500-foot level. This level offered exceptionally (lne prospect- I ii k advantages and afforded an economl-ral economl-ral extraction of me At the distance of 3Sa feet In the cross-cut cave ground was encountered which w.m highly mineral-Ixed. mineral-Ixed. but nni mi much so as the second cave subsequently encountered, which proved to be highly Imprt gnated with Iron and manganese. I Good Marketable Values. This ore-making ruck is staled to give marketable values In silver, and before th. expiration Of another month It 1m confidently anticipated that this mineral-making mineral-making ground will disclose another ore body for the Ijower Mammoth. Conditions Condi-tions aro as promising on the west fissure OC the east and the largest ore body evt r encountered on the property has been found here. The company t shipping ship-ping ore steadily and four cars are now on the way to the market. No Need of Assessment. With the proceeds of the ore the man-ag man-ag imeni has been able to meet expenses, and to ruaterl&llv reduce and eventually vine oul ail indebtedness, Many large debts nave bean liquidated during the tr, anil the Indebtedness of the corn-pan) corn-pan) .it present is but 115,017.67. The condition con-dition of the finances of the Lower Mum-moth Mum-moth lef ur need for an assessment. In 1905 the Didi'Sgement has retimbered and enlarged the winze from the U'oo to the 1 fiM foot levels, a new crosshead was put In, the engine was reset and a new air 'me 12 feet In length wus Installed J-t 1 1 inot important of all was the kind and quality Of development work done. Directors Elected. The following directors were elected for '. Simon Bamberger, John Dam, ll. G. IfcMlllan. T Bean, W. s. McCornlclc A C. BUiS, Jr.. and A Reeves Supeiintendent Ball Reports. s.in rintendsnl Ball reported at the I meeting as to the progress made irom Apm i to December I, 1906, the time during dur-ing which he has been in i harge of the mine. On the former date he found that work v.. is confined between the 1300 and 14ii foot levels He continued this to the latter level and reached the liKm-foot level also Considerable prospecting was done mi all levels that made showings that Justified It l'he prim Ipal work, however, was on the winze on the west fissure From the HOi-fool level he ran fifteen feel to the easl and Intercepted the fissure fis-sure which gave values of per ton. The fissure was eight feet wide at this point . Laigest Oie Body on Property. From the 15)-foot level the winze is stated BS giving a very large ore body, thai' which no belter lias ever been had on the property. 1 be ore increases in width and depth, and Mr Ball is of the pinion that the best ore is below the present workings. |