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Show BONANZA 1C SHOOT ON THE CERRO GORDO L. D. Gordon, President and General Manager, Here From Property. WASHING OUT GOLD Placer Work at Round Mountain Property Producing Pro-ducing Yellow Metal. A buminzn niioitt of zim: cfirbuiiate oro has lf!i:n opt'iitMl (di the Orro (ionlo property, located six miles east of Ki-fler, in Inyo county, Ca).t according to I.. I). Gordon, proni'ii:nt and general manager of tho (.,'erro Gordo MinOH com-puny, com-puny, wlio ih in Halt Lake on mining bn.si nen.s. Ho leaves today for San Kraiicinco. In diricuHsing thn placer operations at tho liound Mountain property, prop-erty, located in t ho Konnd Mountain district of Nevada, Mr. Gordon said yesterday that thero hod licen. recovered recov-ered to -date approximately $00,000 in plueor gohl. f n discussing tho work at the t 'orro Gordo property, Mr. Gordon said: I The ( 'erro Gordo property has been electrified, electrical equipment equip-ment that generates I7o horsepower having been installed. Tho tramway, tram-way, mx miles in length and built in two sections, s operated by I gravity and developcs eightoen sur-i sur-i plus horsepower at tho upper terminal, ter-minal, at which point it drives an air compressor, using it as a brako and getting tho air free of cost. :Tho company is shipping 1500 tons "of slag per month and 700 tons of zinc ore. Zinc Shoot Opened. The largest body of zinc ore ever opened on tho property was encountered thirty ilavs ago on the -00 level, HOD feet, suuthendt of tho shaft. It is a zinc carbonate oro that occurs as a replacement in the limestone. It is circular in form, st a tiding verl ically, and iH twonty-li twonty-li ve feet in diameter. A squaro- - tn't stone is being carried up above the -1)0 foot level and thero is a winze, down forty i'cet bolow tho 2DU-foot level all in ore. It runs about 115 per cent in zinc. In diFeuKsinjj the operations at the Hound .Mountain property, Air. Gordon baid: Tho recovery to date of placer gold at tho Kound Mountain property prop-erty is approximately $60,1)00, with most of tho bed rock still to ba cleaned and most of the season . all end of tho company. Tho water supply has not been as large as ; anticipated. This has been due to the warm weather melting tho snow I rapidly anil the lack of rain since - operations started. Water is be-; be-; ing supplied by both tho Jefferson and Hhoshono and tho .Ictt creek sources. The operations in the lodo , mine, consisting of mining ore and ! development work, are being pushed ahead. Tho original estimate on tho ; placers called for 1,500,000 yards, . with an average value of $1 per yard, which will be borne out by the results. 1 n other words, tho estimate will be found to be conservative con-servative lor the reason that all placers that have been worked to date in the district havo shown recoverable re-coverable values greatly in excess of $1 per yard. The estimate of the 1,500,000 yards includes only a portion of the available placer area. Sixty-seven acres were esti-j esti-j mated to a depth of fourteen feet, whereas the average depth will exceed ex-ceed this, and a further factor of ; safety is the large area not included in-cluded at all in our estimates. Manv questions are being asked regarding the recent decline in the ; price of stock. The principal reason rea-son is that one or two of the Kound . Mountain stockholders owning I larire blocks of stock had bought : stocks in an Arizona district on margin and had hypothecated Round Mountain stock as security. Tho sale of this stock, coupled with the general weakness in the entire Nevada Ne-vada mining share market, is largely large-ly responsible for the abrupt do-cline. do-cline. Kxcept that the recovery in the placer operations will not be quite as large as anticipated, thero is nothing in the mine workings to cause the recession. |