OCR Text |
Show coram 16 GETS MORE GROUND Company Acquires Twenty-one Twenty-one Additional Claims in Big Cottonwood. Good progress is beiii!; made in driving driv-ing the main runuel ahead on the Cot-, ton wood Kinn- property, located in the Hi;; Cottonwood district, according to reports received from the property by President A. Parry. The breast of the tunnel is showing heavier mineral-; ization and haa entered the white soluble j limestone formation. Kecentlv the eompanv secured twenty-one twenty-one additional Ha ims that adjoin the seven claims originally owned by the company and located on the southwestern southwest-ern slope of bcott bill. The holdings of the eompany consist of twenty -eight claims that are free from all indebtedness, indebted-ness, and it is the intention of the management, aH soon as the roadwavs : permit of hauling machinery to the1 property, to install machine drills frith which to drive the lower tunnel. The , lower tunnel will develop the holdings, of the eompany and a depth will be at-; tained from the surfaee of about 1500 ! feet, according to President Parry. j There is an excellent showing on the : ground recently acquired, where the contact between the quartzite and the, limestone crops along the surface. By 1 extending the main tunnel for about 400 , feet this contact will be cut. The Cottonwood King also has a bond on what is known as the Giles property,! which consists of thirty-one claims. This gives to the company one of the largest acreages in the Big Cottonwood district i and, according to the engineers that have examined the ground, the geologi- I eal formation la excellent for ore deposition. depo-sition. The company is capitalized for l,-i 500,000 shares," par value 10 cents, and' there are about 780,000 share in the 1 treasury. |