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Show CI WOO COMPANY . IN 101 SHAPE Company Need Not Complain, No Matter How Tintic . Smelter Acts. j LATEST WORD OF GREAT BODY GIVEN Some Facts Regarding Great Ore Body Now Being Opened Up. As Tho Tribune hns maintained all aloupf, tho Colorado Mining company will bo tho greatest beneficiary of the Tintic smelting situation regardless of tho ultimate success or failuro of tho Knight plant. As stated in these columns col-umns Sunday; the Colorado management has made arrangements with the United Stales company whereby tho Colorado oros aro now coming into that market, and a well known mining man stated to Tho Tribune Monday that Superintendent Superin-tendent Itouudy says ho can extract for a great many months to come double tho present tonnage being hoisted from tho mine. This samo gentleman gives somo information relative to the Colorado Colo-rado ore body which demonstrates what a great big proposition this is. As is well known, this ore body extends ex-tends through tho Colorado mino north and south, having been shown to exist in the Beck Tunnel property to the north and in the Sioux Consolidated property to the south. Tho Colorado company has developed tho ore by two shafts, known respectively- as thc Xorth and South shafts. From the North shaft thc management has worked a portion of tho ore for about 130 feet along the strike, leaving an untouched space irom the. north face to the Beck Junuel lines of 250 feet. From this 130 feet of ( work, the ore being extracted for a width of fifteen and for a height of seven feet, the management has extracted ex-tracted ore valued at over $250,000. Tn the same space there is at least two times that amount still awaiting extraction, ex-traction, for the ore is ninet' feet in width, and will come closer to $200 per ton than to $100 a ton. i From the South shaft, considerable ; development work has been done on the strike of tho ore body, but of untouched i territory on tho vein there is a great deal lct-t for tho future. For instance, between thc two shafts there arc S00 feet of virgin territory, and the conditions condi-tions that now attach aro such that those knowing the geology of the property prop-erty havo no hesitation "in predicting oro continuously for this distance. From the South shaft toward the north on ihc ore body the values were not as rich as closer to this shaft. But as the face of the drift has worked farther north, thc values have so increased that thc present faco is the richest in all tho mine so far shown. Thc oro is a gray ash and sand carbonate, presenting a splendid appearaueo to one who knows carbonate ores. So inasmuch as this face working north is so rich, and it is known that the drift from the North shaft towards thc south likewise is rich and wide, the S00 feet separating tho two drift faces is logically expected to be productive of good results. It is also worthy of mention and emphasis that tho south drift from tho South shaft, which is making for tho Sioux Consolidated lines, is much richer than it has been, and there are 500 feet yet between this south face and the Sioux territory. So out of a total length of 2600 feet there are fully 1420 feet yet that has not been opened along the strike of this maenificcnt ore bod, and moat of this distance lies to the north of tho South shaft, which has been shown to bo the richest and largest part of the body itself, or which is the core or the body. It also should be remembered that the North and South shafts tapped the oro body at different depths, there being be-ing something like seventy feet difference differ-ence betwoen the two. So while tho management has not extracted a greater depth thau seven feet in any of tho drifts, nor taken out a wider swath than three squaro sets, that portion that : 'is boon developed has been developed but partially, and greater tonnages are certain cer-tain to bo extracted in the future. It likewise is worthy of mention. continues The Tribune's informant, that since the loth of last J'uh' tho Colorado Colo-rado company, hy employing only thirty-five men, has shipped enough ore to pay $250,000 in dividends; to pay off $3S,000 worth of debts; to pay for the power lino from Lehi to the Knight smelter at Tintic, itself a constant as-set. as-set. and an unknown but extensive tonnage ton-nage remains at the Knight and United States smelters still unsettled for. This is a wonderful record, and as incompletely incom-pletely as the mine is developed toda3', unbiased mining engineers aro authority author-ity for thc statement that there is now in sight and in measurab1 form more than enough to pay dividends to the extent of tho present selling prico of tho stock. If the Knight smelter is proved a failure ultimately, and there is no one who -will so predict honestly, as the plnnt should be given a complete opportunity op-portunity to prove its worth, the Colorado Colo-rado company would find a ready market mar-ket elsewhere for its ores, for tho rea-sonthat rea-sonthat they are highly desirable. Tho Knight interests are known to anticipate antici-pate much more extended expenditures ou tho smelting plant before it reaches its final capacity and stage of worthiness, worthi-ness, and there is no other way possible for them to get the required funds than from tho Colorado company's dividends. So, as stated long ago, the company is in thc best shape of any Knight organization, organ-ization, and that thc dividends will be j continued steadily admits of no doubt unless some unforeseen and improbable cataclasm destrovs all the smelters in ' tho Salt Lake valley. j |
