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Show I CAPTAIN MACVICHfE'S REPORT Silver King Coalition Mines Company. Salt Lake City: Gentlemen I respectfully submit herewith report on tho properties of the H! Silver King Coalition Mines company. District and Location The properties, consisting of tho following mines and "H mining claims, aro located at Park City. Summit county. Utah, distant about H thirtY-five miles southeasterly from Salt'Lakc C'itj", reached by a branch of the "H 3tio Grande Western railway from the latter city; also by a .branch of the Union "H Pacific railroad, which leaves the main lino at Echo Junction, cast of Ogden. Mines Silver King Mining company, Union Mining company, Park City "H Mining company, Fairvicw Mining company, Alliance Mining company, Woods i do Mining company, Massachusetts Mining company, Jupiter Mining company, "H Kcarns-Keith Mining company. Crescent Mining company, Apex Mining company, ""H Boss Mining company, St. Louis-Magnolia Mining compaivy, Baltimore Mining "H company, Piuyon Kidgc Mining company, Odin Mining compan, Belmont Mining company. ""H Mining Claims Hughcs-Bogau group, Northland group. Maj-flowcr group, Shadow Lake group, Kentucky group, Fern' group, Thomas Kcarns group, lleury "H A total of approximately 2115 acres, with a total length on the strike of the oro-boaring contact and fissures of 19,000 feet. History Tho camp of Park City is famous for its continuous production of silver-lead ores. The Ontario mine, practically tho first largo producer in the camp, began operations about 1S73, but' not extensively until 1S7S. Grave difll-cultv difll-cultv was experienced in the earlier operations of tho camp, duo to tho heavy flow of water. In July, 1888, the driving of the Ontario dram tunnel, tho portal of fl which is located in Wasatch valley, was started, and in 1S94 connected with No. 2 shaft of tho Ontario mine, a total distance of 15,550 feet. This tunnel drained tho underlying quartzito, so that operations since that time havo been' carried on without difficulty from that source. Following1 the opening of the Ontario, 1 came the Daly. Daly "West, Silver King, Quincy, Daly-Judge and a great number "H of smaller properties. H As indicating the great producing record of this camp, tho following state- mcnt of dividends paid is submitted: Ontario Mining Co $13.932.fi00.00 Daly West Mining Co 5,877.000.00 . Dalv JUninp Co , 2,025,000.00 1 Silver Kinc MIn. Co. and Silver Kingr Coalition Mines Co. 11,22$,4S5.00 Quincy Mining Co l,05l.S7fi.OO Daly-Judgo Mining- Co 225.000.00 Total $35.053,7S5.00 Geology and Ore Occurrences, The original ore discoveries wero made on a limestone quartzite contact, which H if seen on tho northeast portion of the property, dipping at about 20 degree .northwesterly and pitching southwesterly, following a system of northeast-south" "H I west fissures. "H A- Eeal Geology of the Park City District This as recorded by Mr. Boutwell "H TJ. S. geologist, consists of five distinct gcologicformations. (Quoted in his' "FJROII OLDER TO YOUNGER:" 1. Masslvo quartzite (Ontario), 1500 to 2000 feet thick. ' H 1 2. Calcareous Gerics of mineral limestone, considerable sandstone and some "L shale, varying In thickness from 600 foet upwards. H Red shale with Intercalated argillaclous limestones and vari-colored shales 4, Calcareous sandstone, normal sandstone, and shale, 1200 feet tlilck 5. Red shnio nntl intercalated fossllifcrous limestone and calcareous' sand-i sand-i stones 1000 feet thick. ! . This group lies above a series of intercalated limestones, quartzite and inas-f"v inas-f"v fP"rferons hmc'Stones of tho Lower Carboniferous, several thousand feet in thickness. Igneous rocks observed aro of a fine-grained dioritic typo and a eoar.6er porphyryic type. Ht In je.r, to f ullj'. describe the ore occurrences as now developed it is ncces- eary to divide them into throo Bystems the Silver King on the north, the Mc-Gregor Mc-Gregor m tho center, and tho Cresccnt-AUianco on the south. Silver King System. iiTi? iB a cntct deposit, having tho massivo quartzite (Ontario) for the foot-Trail foot-Trail the oro bodies being n replacement of the silicious limcstono (a member or Iso. 2 group above) and extending, at times fully 150 feet into the limestone. a? developments show, this suicious limestono is approximately 200 feet Pck an.a may.ba. classea as tho ledge or vein. Tho oro bodies are found from the contact within this area. The striko is northeast-southwest and the dip eoout 20 Agrees northwest. Tho underlying quartzito is extensively fissured. tA times theso fissures extend into tho limestone. Various faults also occur. The fissures of most importance in connection with this deposit are the Gold ter?' tf Fau1 t!5??0'0053 fis,s"ro 700-foot level, and tho Jewel fisauro. SfieonnIJla10Vleni 0f lhe agltssur,0oJas nofc bocn demonstrated. Tho winze on tho 900-foot level north of Station 1361, .sunk to a depth of sixty foot in the fis-Bure. fis-Bure. domonstrated that tho displacement is more than sixty feet and probably con-Bidorablv con-Bidorablv less than 200 feet. Tho strike of the Gold Fault and Jewel fissures is northeast-southwest, while that of the Cross fissuro 700-foot level, is practically aorth-souih. The ore occurrences arp in tho contact and follow the striko of tho fissuro. At times tho ore extends into tho quartzite as much as seventy feet l?,afi1J!.rtl)C ?r? l)0dlAS nroiound n too .iimcstone, a considerable distanco irom the contact, but are usually connected with the contact deposits. oJ50";15 ?ro" flssurc .M.oi lovel, in tho Mulo Raise; and the BlriSe of Sis ? fissure Pe' m 6 lime' follo"'s (,-uite close,y tho c diir d-iA ucarl7 vertical, is exposed in the Allianco tunnel between S,tationa, 10.Gieni:l,0'' a extends m a northerly direction. It is exposed near LHH siu i the DV'e?z ,n "eals dnit, again on the 700-foot leve northeast 1311 n" btatl0n S16' aud on iho 90-fot level northeast of Station illH ,ho RPPro-y'm:ite cross-section through lino A and B on tho working map disclosos p extensive inuit between the Silver King system and tho McGregor system, showing the two systems to dip from each other. This diversion i caup.od by rault movamcuts acting in a northerly and southerly direction. The XHultiRR xx normal, tho hanging wall having dropped in both cases. The Gold l-a::!t and .Towel fissure hayo a tbp of aDout 70 degrees northerh-. The disnlace-msnt disnlace-msnt has not been aotcrmmod on any of those fissures. Whilo the oro iB found Hrgely m the contact oxtouding into tho iimo in places, undoubtedly the fissures L Vd much to do with tho ore occurrences furnishing channels for tho mineral- LUIH J,1D 6f?,rvJ?,n3',- ho GoKl and Fault JTissures converge on their strike to the LBV west, 'lhe lault fisauro intersects the Gold at tho Far Down raise on tho 1100- LHH. ?00lxcf VH a 1V"bo(l3Ivof ?J? bcon nunca. Oro was first oncountored h m tho a:lv-r Kin" shatt on tho , 00-foot level in March, 1902, and was worked up to tie 500 .and GOO-fcot lcvols northeast of tlio shaft, shown on tho Win-t Win-t j.l nal projection. The center area from tho shaft east and west to a depth of i Uvd reet ib developed by a aor:cc of levcis drivon in a northeasterly-southwesterlv B diiec'won, following the goneral courso of the fissures. J B McGregor ritsnro. This is.a fault fissure with a southerly dip of 70 degrees at points partialis and at tirr.es wholly, filled vith jwrphyry. Tho extent of the displacement has not been determined, but tko openings ahow it to bo over 100 feet and probably wolldown in tho quartzite, and probably 400 feet below tho oro developed on the 700-foot level. A raiso from this point would do much to develop the contact con-tact on tho south side of the fault. Alliance-Crescent Fissure. This is a fissure in limestono, entirety filled with porphyrytic rock, with a southerly dip of about 51 degrees and a southwest-northeast strike. The ore .bodies occur in tho limo beds, as illustrated bv tho cross section of the Crescent fissure. These ore bodies exlend as far as 200 feet into the lime beds in the footwall of tho fissure, and vary in size from a few fcot to fourteen feet in thickness. Theoira developed hy the Antelope. Aetna, Kanaucr and Alliance tunnels. Ore hSs beqn mined for a distance of SOU feet on the plane of the fissure abovo tho Hammer tunnel 178,271 tons having been produced. Tho Allianco tunnel develops tho ore about 1)00 feet on the plane of the fissure below tho Hanaucr tunnel, designated on the working map as "Elephant Stopc." This gives a total distance of approximately 3 GOO fect in which ore has been found in the limestono on tho plane of this fissuro and entirely away from the limcstono quartzito conttict. Thero is an incline driven from Station GG5 in the Hanauor tunnel southeasterly south-easterly at an anglo of 45 degrees to a depth of 200 feet. I am informed that a large body of oro is developed at tho bottom of the incline, but as thero was considerable water in the incline at the time of my examination, I was unable to verify this. Thero is about S00 feet undeveloped between tho Elephant stopo and tho bottom of this incline on tho plane of the fissure. However, tho fact that such an extensive and valuable ore body is exposed in the Elephant slope from tho Alliance tunnel, and tha't a large tonnage of valuablo oro has been extracted from the Hanauor tunnel, satisfies me that tho area between these openings will bo productive of a large and profitable tonnage. I am of the opinion that the Elephant stopc is full' SO0 feet above the limestone quartzite contact, and it is reasonable to suppose that this fissuro will be productive to that point, and also that ore will be found on tho contact when it is reached. Undeveloped Area. The McCornick cross cut driven southeasterly from the Silver King shaft on tho 1100-foot level, is mostly in quartzito, probably 300 feet or more below the lime-quartzite lime-quartzite contact. It intersects a number of fissures, also several porphyry dykes. The most promising of these fissures is encountered near the end of the cross-cut. For a distance of 120 feet, at this point the territory is well mineralized, contain-iiK contain-iiK manganese and oxide of irou, and has two well defined fissuros with a large porphyry dyko at Station 709. 1 am of the opinion, if raises were put up on some of tho most favorable fissures to reach the contact, tho possibilities for fir ling oro aro excellent. The ore-bearing fissures are easily traced for a long distance west within the territory owned by this company. A tunnel has been driven on the Odin claim and an ore-bearing fissure developed for a distance of about 400 feet on tho strike. This oro carried quite a large percentage of copper, and has excellent prospects for developing into a mine. T am informed that a tunnel on the Jupiter group of claims, reecntly purchased by this company, com-pany, has yielded about $30,000. The geological conditions of tho Odin claim, aud the area surrounding Thaynes lake,' are such as to lead me to believe that the prospect for developing a largo body of ore in this section is exceedingly favorable."1 There is every indication, both at the western openings in the mine, and on the surface, of a continuation of the oro bodies to the southwest into tho undeveloped area. The coutact ore bod' recently developed on the 1300-foot level, adjacent to tho Jewel fissure, has ex'posed a magnificent body of galena and carbonate ore. The existence of this fissuro was unknown until rccontly, and I am of the opinion opin-ion that other oro bodies will be found on tho contact along other known fissures to tho north and south, as well as within the area already covered by tho different levcis from fho Silvor King shaft. Tho extending ot the Hanauer tunnel to the southwest would be an important factor in developing the unexploited area. To the west there is a largo territory that should be productive. Tho contact north of the Fault fissure, on tho 900"-foot level, will undoubtedly bo productive when developed. There is a large area cast of tho Mulo Raise, on tho 700-foot level, which looks very promising; also south of No. 1 raise in the McGregor fissure. Plans are now being considered to exploit this ground, and if the contact is reached it is likely to bo productive, as both these raises have good ore bodies which arc larger as the contact above is approached. f Surface Equipment. The surface equipment consists of: Mino planta at Silver King shaft, and at the portal of the Alliance tunnel, and the sampling mill, capacity 500 tons per day. Concentrating mills near tho Silver King shaft. 300 tons daily capacity. Leschcn wiro ropo tramway. 7200 feet in length; assay office, boarding house, office, .bunk house,' firo equipment, etc. All the ore is hoisted at tho Silver King shaft, tho miho plant icing designed de-signed to handlo a large tonnage. Equipment at tho Allianco tunnei consists of a battery of boilers and a Rand-lngersoll air compressor with a capacity of 1200 cubic feet of free air p'er minute. The shaft houso at the Silver King shaft contains steel gallows frame, 5C0-horBCpower 5C0-horBCpower first motion, double reel hoisting engine, and a duplex single stage air compressor, with a capacity of 1200 cubic feet of free air per minute. Adjoining shaft house arc: J3oilcr room, machine shop, blacksmith shop, carpenter shop, etc. From the Silver King shaft tho oro is trammed a short distance over a covered cov-ered trestle to tho sampler and concentrating mills, both of which aro well equipped and up to date in ovcry respect. At tho concentrator tho ore is crushed to pass six-mesh by means of rotary and jaw crushers and Cornish rolls. The crushed ore is handled bv twenty two-compartment two-compartment jigs of tho Hartz type. The jig tailings are recrushed to thirtj'-mesh thirtj'-mesh of four Huntington mills, the product, together with the slimes from prelim-, inarv crushing, being treated on twenty-two Wilrley tables. Tho middlings and slimes from tables aro run over five Fruo vanners and three Wilrley slim'crs. The slimes, produced from tho mill, jigs and screens, are settled, thickened and filter-pressed, the resultant cake showing good values in lead and silver. The Wiro Ropo tramway, built with steel towers, transports tho ore aud concentrates con-centrates from mill to tho loading station on tho Rio Grando railway and Union Pacific railroad. Oro Reserves. Tho aclaal and probable oro at present available is estimatod at 99,039 tons of a cross value of $5,5S0,7S0.99, or a not value of $3,671,64S.S9, Thero has been no special effort to block out large reserves, hut rathor to follow the ore and develop it as it is mined. Tho oro bodies are largely replacements re-placements of the limo and occur' in irregular masses, so that by adopting this netlod, thero is much saved in not being compelled to drive through barren ground. Tho property has advantages beyond those usually met with. Tho area covered bv its workings is so extensive as to make economic work possible at a great number of places aud enablo the management to keep up a largo and uniform uni-form production. Possible Ore. In estimating the possible tonnago of the undeveloped area I have used as a basis the production of that portion already mined. By reference to the map of tho underground works and to the longitudinal section, it will bo seen that tho productive area of tho different systems follow fissures in a northeasterly-southwesterly direction. The Silver King system has been mined a distanco of 7100 feet on tho strike, yielding 64 tons per lineal foot, leaving a distance of 9000 fect undeveloped. Tho Crcscent-Allianco system ha3 been opened 2000 feet on tho striko of the lode, yielding eighty-nino tons per lineal foot. This area is by no means exhausted and will produce an equal tonnage to that already mined. An additional 4S00 feet remains unexplored. In computing tho possibilities of tho cnt available ore, as sampled by mo, which yields $51.76 per ton, net, giving for tho undeveloped area on the known ore-bearing systems a total net valuo of $25,226,633.52. Conclusion Considering tho very extensive area owned by this company in a well mineralized zone, less than one-half of which has .been developed, also that the undeveloped area is so favorably located that its productiveness can hardly be questioned, 1 am impressed With future possibilities and predict a long period of profitable operations. Respectfully submitted, . D. MAC YICHIE. Financial Statement. Property purchased by Silver King Mining Co 5 565.35S.33 Property purchased by Silver Kins Coalition Mines Co 721.976.17 Total .' $1,237,335. 0G Paid for out of earnings $40t,S35.0fi Paid for with stock 882.500.00 Total i 51,257,335.06 Receipts and Disbursements. Receipts Ore sales 1 $1D,S7S.926.31 Miscellaneous . 95,215.70 4 . $19,974,142.04 Disbursements v' - Dividends ; Sll.22S.4S5. 00 Property purchased 404.S35.0fi Equipment and Improvements 3,044,790.17 Operating ti,973,Gi36.5 Cash on hand November 1. 190S . 322.365.28 : 519,974,142.04 Cash on hand 'December 1, 130S . .S356.SS3.S4 Ore In transit ; S0.000.00 , ?13G,SS3.S4 Recapitulation of Ore Reserves. FIRST CLASS ORE. Gross Value Total Gross 2Cot Value Total Net Tons Per Ton Value . Par Ton Value North Slope. 700-foot level ,.1,920 S72.C0 S 129,392.'00 ?51 .25 S 9S.400.00 North Stope. 000-foot level.. 1.5G0 71.05 110.S3S.00 49.70 77,532.00 McGregor Stope, 700-ft. level. 7tJf 72.60 55.G11.I50 51.25 39.257.50 Bonanza Ral3C 533 41.73 22,212.09 20.38 10.SG2.54 Mule Raise I.S37 71. S2 247.393. n-1 50.47 244.123.39 Elephant Stope 7.116 46.22 329.613.12 24.97 177.6S6.52 Jewel Stopc 52,512 77.27 4,057.602.24 55.92 2,936,471.04 Totals 69.211 $73.11 55.062.692.39 551.76 ?3,5S4,332.99 CONCENTRATING ORE. ' Grots Value Total Gross Net Value Total Net Tons.' Per Ton Value Per Ton Value North Stope, 700-foot level.. 7.6S0 516. OS $130,406.40 $ 3.01 5 Concentrates. 4J to l 62. 3S 13.55 23,123.07 North Stopc. 600-foot level.. 0,240 16. 9S 105.955.20 il.Ol Concentrates, 4; to 1 62.33 13.55 1S.7SS.43 McGregor Stope 5,200 1S.0S SS.296.00 3.01 Concentrates. 4 (o 1 62. 3S 13.05 15,657.02 Elephant Stope 10,675 IS. 12 193,431.00 2.79 : Concentrates. 3 to 1 45. S5 8.36 29,747.33 Totals 29,795 $17.39 551S.OSS.60 5 2.93 37,315.90 i Total Ore Reserves. First, class ore .69,244 372.94 55.062.692.39 551.76 53.581.332.99 Concentrating ore , 29.795 17.33 51S.0SS.60 2.93 S7.3l5.90 Grand total 99,03? ?5,5S0,7S0.99 . 53,071,GIS.S9 Estimate of Possible Ore. Sliver King System: Undeveloped 8000 feet by 64 tons per lineal foot 512,000 tons Crescent-Alliance System: Undeveloped 4S00 feet by 64 tons per llne.il foot 307,200 tons Between the Hanaucr Tunnel and Elephant Stope In the Alliance Tunnel: S00 feet on the- plane- of the Assure, 350 fect on tho strike bv S00 feet tlmos 5 feet 155,555 tons Total 974,755 tons Conservative Estimate of Valuo. 974.735 tons, tako one-half 4S7.377 tons Not value per ton. present available ore. 551.76, applied to conservative estimate of 437,377 tons, gives a net value of 525,226,633.52 Oro Reserves The average assays of tho ore aro obtained by the usual method of foot per cent and foot ounces. The per cent extraction is an average of the last four months' mill operations. g notations on which values arc figured "are: old, $19 per ounce; silver, 59.2S4 cents per ounce, for 95 per cent, and lead $1.60 per 100 pounds for 90 per cent. Lead and silver price is average Now York quotations for ten years, ten months, to November 1, 190S. The mine was' shut down from January 1, 100S, to May 1, 190S, and was not operating up to capacity until August 1, "190S. The cost of mining and milling used is an average of August, September and October costs. Jewel Stopo 1300-Foot Level. First Claas Ore. Assay value, 0.07 oz. Au. 60.3 oz. Ag, 50.7 per cent Pb $77.27 per toh Actual ore. 37,550 tons at 577.27 per ton $2,924,663.50 Probable ore, 14.662 tons at $77.27 per ton.... 1,132,932.74 Total tons, 52,512. Total value .$4,057,602.24 Freights and Total Valuo Mining Ex. Smelling Total Cost Net Value Total Not Ton3 PqrTon Per Ton Per Ton Per Ton Per Ton Valuo 52,512 $77-27 $7.35 $14.00 $21.35 $55.92 $?,93G.471.04 Bonanza Raise. First Class Ore. Assay value, 0.11 oz. Au., 42.3 oz. Ag.. 19.1 per cent Fb, $41.73 valuo per ton Actual ore, 333 tons at $41.73 per ton $13,S96.09 Probable ore, 200 lohs at $11.73 per ton 8,345.00 T&lal tons, 533. Total value .$22,242.09 Freight? and Total Value Mining Ex. Smelting Total Cost NetValn? Total"Nt Tons Per Ton Per Ton Per Ton Per Ton Per Ton Value 533 $11.73 $7.35 $14.00 $21.35 $20. 3S $10,862.54 Mule Raise and Single Raise. First Class Ore. Assayvalue, .03 or. Au.. 43.3 on Ag.. 56.6 per cent Pb $71. S2 value per ton Actual ore. 25S7 tons at $71. S2 per ton . 51S5.79S.34 Probable ore, 2250 tons at 271. S2 per ton 151,595.00 Total Ions, 4S37. Total value" '. $347,393.34 Freights and Total Value Mining Ex. Smelting Total Cost Net Value Total Net Tons .Per Ton , Per Ton Per Ton Per Ton Per Ton Value 4.S37 $71. S2 ' $7.35 $14.00 $21.35 $50.47 ' $244,123.39 Continued on Pa go Fifty-seven. IL SILVER IE COAUTIQN USES EOUP 11 ; r Continued from P ago Fifty-six. McGregor Stopo, 700-Foot Lovel. First Clas3 Ore. ,: Assay value, 0.14 oz. Au,. 65.1 oz Ag., -10,2 per cent Ph S72.C0 value per ton Actual ore, olb tons at S7&.G0 per ton . 84 1 "'l 00 : Probable ore, 150 tons at $72.60 per ton .7.7 .7 .'.7.7. 10,S90.'oo Total tons, 766. Total value , ...$S5,GU.G0 i Freights and Total Jluc Mining Ex. Smelting Total Cost Xct Valuo Total Net ap To.na PE-1?1I PerJ" Per Ton Per Ton Per Ton Value. V ibb $i2.60 v7.3o 14.00 $21.35 $51.25 $39,257.50 Milling Oro. Assay value. -04 oz. Au., 11.1 oz. As.. 0.0 per cent Ph $10. PS values per ton J I Actual ore, 3120 tons concentrates, 4 tons Into one 603.3 tons concentrates jj J Probable ore, 20S0 tons concentrates, 4u tons Into ono 4C2.2 tons concentrates 3 J !" Crude ore. 5200 tons. Total tons concentrates.., 1,155.5 3 : ' CRUDE ORE. Mining & Freight & Loss In 71 ' Vnluo Milling Smelting Extract Ion Total Cost Net Value Total Net 3i , , Tons Per Ton Per Ton Per Ton Per Ton Per Ton Per Ton , Value ll ' : 5200 Slfi.OS $7.71 $3.11 $3.12 $13.97 $3.0U ' $15,657.02 r ' Extraction. CO per cent Au.. io per cent Ag.lV90 per cent Ph. j i Assay value. .10S oz. Au,, 47.6 oz, Ag., 40.5 per cent Ph $02.35 value por ton m ; CONCENTRATES. Mining and Freight and J Value Milling Ex. Smelting Total Cost Not Value Total Net ; Tons Per Ton Per Ton Per Ton Per Ton Per Ton " Value j : ' 1155.5 5623S $31.83 $14.00 $43. S3 $13.55 $15,057.02 Hortli Stope, 700-Foot Level. I! First Class Ore. Ajisay value. 0.14 oz. Au.. 65.1 oz Ag., 40.2 per cent Pb $72.60 value per ton i Actual ore. 12S0 tons at $72. CO per ton $9K,D2S.00 Prohuble ore. 640 tons at $72.60 per ton ' "40, 16.4 .00 W Total tons, 1920. Total value $139,392.00 ' Freights and ; Total Value Mining Ex. "Smelting Total Cost Net Vnluo- Total Net r Tons Per Ton Per Ton Per Ton " Per Ton Per Ton Value 1,920 $72.60 $7.35 $14,00 $21-35 $51.25 $9S,400.00 Milling Oro. Assay value, .04-oz. Au.. 14.1 oz. Ag., 10.0 per cent Pb SIC. 9S value per ton Actual ore. 5120 tons concentrated IJ tons Into one ,.1137.7 tons concentrates ! " Probable ore, 25C0 tons cencentrated 4 tons Into one 568. S tons concentrates Total crude, 76S0 tons. Total tons concentrates 1706. 5 Ui ' CRUDE ORE. Minings Freights L,oSs Jn " . t Value Milling Smelting Extraction Total Cost Net Value Total Net i Tons Per Ton P.or Ton Per Ton Per Ton Per Ton Per Ton Value ID j 76S0 $16. 9S $7.74 $3.11 $3.12 $13.97 $3,011 $23,123.07 fljl , Extraction, 60 per cent Au., 75 pur cent Ag.. 90 per cent Pb. r- ' Assay value. .10S oz. Au.. 47.fi oz. Ag., 40.5 per cent Pb .SG2.3S value per ton ? ' CONCENTRATES. Mining and Freight and 'S JK Value Milling Ex Smelting Total Cost Net Vnluo " Total Not nt I? Tons Per Tnn Per Ton Per Ton Per Ton Par Ton Value Cl 'W 1706'5 ' 5C2;SS ' 531. S3 $14.00 $4S.83 $13.55 $23,123,07 gslp- ' North Stope, G00-Foot Ievol. First Class Ore. ?Dv.1 Assav value. 0.07 oz. Au.. 56.9 oz. Ag.. 45.5 per cent Pb .$71.05 value per ton ICO' ff.'';v Actual ore. 1040 tons, at $71.05 per ton $73,892.00 lf "'vi ,,robable 0I'e' 520 tons al S'1-05 P01 10,1 3C.94C.00 lip".'r rY Total tons. 15C0. Total value '. $110,S33.00 ' ' , ' -nT Freights and mS, Total Value Mining Ex. Smelting Total Cost Not Vnluo Total Net H- Tons Per Ton Per Ton Per Ton Per Ton Per Ton Value ft " 1560 $71.05 $7.35 $14.00 $21.35 $19.70 $77,532.00 y Milling Ore. BJ i Assay value, .01 oz. Au., 11.1 oz. Ag., 10.0 per cent Pb 31G.9S value per ton Si Actual ore. 4160 tons cencentrated 4 tons into one 924.4 tons concentrates tig ; ; Probable ore, 2080 tons concentrated 4j tons into ono 462.2 tons concentrates a Crude ore. G240 tons. Total tons c'onccntratcs..-. 13SG.6 J" , CRUDE ORE. Mln!nB & Freight & Loss In aed Value Milling Smelting Extraction Total Cost Net Value Total Net gS ! Tons Per Ton Per Ton Per Ton Per Ton Per Ton Per Ton Value h 6240 $16.98 $7.74 $3.11 $3.12 $13.97 S3.01 $18,7SS.43 W6 ; Extraction. 60 per cent Au.. 75 per cent Ag.. 90 per cent Pb. B ' Assay value, .108 oz. Au.. 47.G oz. Ag.. 40.5 per cent Pb $62.38 value per ton j- $ . CONCENTRATES. Mining and -6 .- Value Milling Freight and Total Cost Not Value Total Net Ji c r "Tons Per Ton Per Ton Smelting Per Ton Per Ton Value 50 ' 13SS.6 $62.33 $34.83 $14.00 $1S.S3 $13.55 US.7S8.43 vd Elephant Stope, Alliance Tunnel. t ! First Class Oro, a Assay value, .036 oz. Au.. 19.0 oz. Ag.. 42.2 per cent Pb $46.32 value per ton M t Actual ore, 4744 tons at $46.32 per ton $219.742. OS ted r Probale ore, 2372 tons at $40.32 per ton 109,871.04 . Total tons, 7116. Total value ; $329,613.12 Freights and 5j Total -Value Mining Ex. Sinelting Total Cost Not Value Total Not SS , Tons Per Ton Per Ton Per Ton Per Ton Per Ton Value Sa ; 7116 $46.32 $7.35 $14.00 $21.35 $24.97 $177.86S.52 i ; Milling Ore. Si t Assav value. .03C oz. Au.. 9.5 oz. Ag., 14.6 per cent Pb $18.12 value per ton ifoftl Actual ore. 7117 tons cencentrated 3 tons Into ono 2372.3 tons concentrates tjujj Probable ore, 355S tons concentrated 3 tons into ono 11SG.0 tons concentrates I Crudo ore, 10,675 Jons. Total tons concentrates 355S.3 ( atfOl' CRUDE ORE. Mining & Freights Loss In 1 Valuo Milling Smelting Extraction Total Cost Net Valuo Total Net Sa? Tons Per Ton Per Ton Per Ton Per Ton Per Ton' Per Ton Value QTtl I 10,675 $13.12 $7.83 $4.67 $2.83 $15.33- $2.79 $29,747.33 u3 I Extraction. 60 per cent Au., 75 per cent Ag.. 90 per cent Pb. I Assay value. .0G5 oz. Au., 21.3 oz. Ag., 39.1 per cent Pb $ iu. 8a valuo per ton : CONCENTRATES. Mining and Freight and Valuo Milling Ex. Smelting Total Cost Net Value Total Net :''Jm Tons Per Ton, Per Ton Per Ton Per Ton Per Ton Valuo 'fM 3558.3 $45. So $23.49 $14.00 $37.49 $8.36 $29,717. 3S aP Production. sanjj The Silver King Mining Company , Tons. Gross Value. jijgl Prior to the Incorporation of the Sliver King Coalition Mines " : Co., produced uj,iji. i-i.iiS-.-bi.ij luCW. ; . The Silver King Coalition Mines Company ,,- -. 3?o : ls produced S8..b3 2,129.145.74 Tbei A total of -111,894 $26,811,413.93 ."bull a Prior to the Incorporation of ths Silver King Mining Co., the ground contained Bn.'nf c'''-" lts area produced: iWpSrW croyflower. lease -2H?? M??'?1,?'?? Sliver King Claim J"-2i?('Si deptBJ) Wedge Lease -j 1-"''f-Sa icioS A tota, Qf 27,003 $ 1,281,037.42 ' A grand total of ' W ?2S,032,451.36. ,Vi 6 In addition to this, the Kearns-Kelth. Apex, Boss and Crescent LllioMB Mining companies, tho Alliance and Woodsldo Mining com- panics, prior to their acquisition by the Silver King Coal- ,.,.. 5cj itlon Mines company, have produced an estimated tonnage of.17S.2il $ 3.813.140.39 It was not possiblo to secure accurate data on the tonuage from the Kearns- ice Wr eith Apex. Boss Orescent, Alliance and Woodside Mining companies ' records, but jbriaafl it ia believed that the figures herein contained are fairly correct, a thUa Dividends paid by the Silver King Mining company and the Sliver King nt,: Coalition Mines company amount to ai,ft.-'np oataui pald Qut of carnlnB3 of mines f0r the purchase of property 40;.,S3o.ClG 3 Paid out of earnings for construction .: -y: ' ,f,i"p2'Sq -UW Cash balance, Silver King Coalition Mines company, November 1. 190S.. 3J2.uGo.S Making the net earnings of the Silver KJng Mining company and Silver l' King Coalition Mines company, to November 1. 190S $11.9G,.0o4.91 .5 Owing to tho panic of October, 1907, the Silver King Coalition Mines coin- pany practically ceased operations in January. 1908, and did not, resume until May, J90S. Tho production therefore for tho fiscal year ending April 30, 1908, is less than it would have been had tho mine been operated during tho cntiro year. Ore Statements. SILVER KING MLNtNG COMPANY. CRUDE ORE TONS. Tear. Tons. Gross Value. Xct Value. 1592 13.830 Sl.229.4-U. -IS $ 1.021,994. iS 1593 1594 1895 11.523 S13.fi55.45 593.710.45 189C 17.013 U13.6S4.53 0.41.539.53 1S97 16.398 U92.717.7S 730,379.78 1595 17.792 1.127,7-10.54 851.9C4.54 1S99 20.765 1,383,011.08" 1,071. 236. GS 1900 , 25.413 1,743.511,77 1.352.G59.S3 1901 24.600 l.S42.55$.9f. 1.102,734. DO 1902 . 27.S7R ' !,S!8,S32.7J 1. 407.555. (i3 1903 33.568 2.O2S.007.38 1, 405.74:1. 38 1904 31,001 1,972,231.45 1,456.891.57 1905 2S.073 1.607,920.07 1.222.752.67 1906 ' 19,u.'.S .1,211,049.73 914.759.29 1307 .' I.9S4 317.292.93 212.532.93 Total .1 29G.407 19,092,190.06 J14.4 il.45S.72 CONCENTRATES ''"ONS. Tear. ' ' Tons. Gross Value. Net Value. 1895 ." 1.516 $ 104.8S1.92 $ 82.111.92 1896 2.455 154. 599. 35 117.821.35 1S97 7.055 460,191.40 347,311 . 10 1898 ".795 413,257.57 . 307.P35J5S 1S99 11.180 n0i.403.0l , 333,703.04 1900 ' n.902 351.357.43 - 261.17 1. S7 1901 -1 MI3 7.3S.517.2S '392.151. 2S 1902 ......v.. ....... 12.274 664.617-.15 474,370. IB 1903 ,13.144 . 619,610. 77 396,102.77 1904 11,51.". 565.530. S4 ."IfiO. S09.S4 1U05 . 11.737 557.31S.55 SlJ3.G5S.55 '3U06 ..' 10.202 496.506.19 332,304.19 1907 -VI4S' 162.230.JG4 . 110.S39.7I Total , '. 106.724 ? 0.590.07S.13 S 3,889.447. 6S Total f i 403.131 , 521.682,208.19 S1S.2S0.00G. 10 Silver King Coalition 7Iiuos Company. CRUDE ORE. . ( Tear. - ' Tons. ' Gross Value. Net Value- 1907-S 25.017 ? 1,493,757.80 J 1.109,750.34 CONCENTRATES. 1907-3 13,146 635.3S7.94 43S.269.C0 Total 38,703 t 2,129,145.74 f 1,548,019.94 Summary. Silver Kls Minlnff Co 403.131 S24.682.26S. 19 $18,330.906. 40 Silver Kins Coalition Miner, Co... 3S.763 2.129,145.74 1,548.019.94 Total 411,894 $26,811,413.93 ' 1 519,878.926.31 'Mines operated only eight months of Jlscal year, 1907. Tho Silver King Coalition Mines company is uow free from suits, tho last ono having been thrown out of court; December 15. Tho well-known and successful operators who form tho officials of tho company com-pany aro as follows: David Keith, president; Hon. Thomas Kenrns. first vico-prcsident; vico-prcsident; Hon. John S. Bransford, second vice-president; Frank J. Westcott, secretary, and W. S. McCornick, treasurer. Theso officers, with the following gentlemen, form the directorate: Janiet Ivers, .1. Frank Judge. W. V. Rice, V. Mont Ferry and M. C. Cox. Tho company is a Utah organization, a ono-eighth ono-eighth interost going to F. Augustus Heinze,"tho noted copper magnate, who was convinced of tho magnificent possibilities of tho company by personal inspection in-spection of tho properties, assisted b' numerous members of his expert stall". In the future thoso at tho helm can bo looked to for additional good to tho 6tato, and all effort will bo used to niako this company tho monumental concern of its kind in Utah.. T |