Salt Lake Tribune | 1909-01-28 | Page 6 | Rawhide Leases Are Extended Liberally

I RAWHIDE LEASES AJRE EXTENDED LIBERALLY Special to Tho Tribune. RAWHIDE, Jan. 27. In pursuance of tho liberal policy adopted at last monthly meeting; tho Coalition Mines company this morning signed a new leasing contract con-tract with the Grutt Hill Mint, Mining and Leasing company operating the famous fa-mous block ten on Silver KInpr No. 1 claim of tho Coalition. The new lease rune three years, and there has been a material reduction In royalties. Under tho terms of tlio new lease tho Mint management man-agement will straighten up tho Incllno bhaft. now down C30 feet, and continue it to a depth of GOO feet at tho rate of not Jess than fifty feet every three months. The Coalition Mines company reserves tho right to run crosscuts from the new Fhaft to open up adjoining territory. The Nugent lcaso also was extended one year from January 1. 1010. the leasers to Blnk tho shaft another 100 feet. The Kaufman lease has been taken over by 3j. E. McC'luro of St. Louis and associates, asso-ciates, who will sink the shaft to the 700-foot point, and this property will bo operated In conjunction with the Prince and King Hill leases - under a plan of development provided for In the contract With E. C. Kllnkcr. Tho Coalition Mines company Is now considering the extension of other principal leases. Tho ten-stamp mill of tho Murray lease yesterday was officially christened "Gom of the Desert." and both batteries are now in commission, crushing thirty-five tons of ore dally. The planL is tho beat lypo of the Allls-Chalmcrs company, u.nd is a great success. A rich strike was made this morning In the cast drift on the 60-foot level of the old shaft In Kearns No. 1 lease, on the Queen. At a point fifty-five feet from tho shaft, a two-Inch streak of ore. averaging $2000 a ton was uncovered. iThe high-grade streak Is on the footwaU of the vein, and has every appcaranco of persistency. The values aro In the quartz, which Is shot full of free gold. ! Ore and Bullion. The ore and bullion report for Wednesday, Wednes-day, given by McCornlck & Co.. was as i follows: Ore received, $15.000 : bullion shipped, $40,000.