Salt Lake Telegram | 1928-12-30 | Page 62 | Utah Apex Mine Has Good Year

I UI UTAH AH APEX MINE HAS GOOD YEAR Profits for Fiscal Year Total New Ore Developed Profit of the the- Utah Apex Mining company which operates in Bing Bing- ham Canyon Canon amounted to I for the tile fiscal ye year l. l ended August 31 n 1923 1928 before providing for Depletion and federal income t taxes according according according accord accord- ing to the company's annual report DivIde Dividends ds paid during the year amounted to o Total production of f ore from the property during the year was t tons ris approximately tons less than that of ot the preceding preceding- year During Dui the past year feet of development work was was was' done and an extensive diamond drilling campaign campaign cam cam- was carried on in lateral ex exploration exploration ex- ex n of virgin irgIn territory On the foot 2700 four ore bodies have been developed and now are re being mined in the eastern por portion por por- ti tion n of the Yampa limestone The Tile large ore bodies which were found on on the 2400 and foot 2500 levels Inthe in inthe intile the tile leadville fissure zone have not yet ct been found to extend to the 2700 level le The report sa says s 's in conclusion Tho Tilo Thomine mine has bas gone through a rather rath r hard year of or low metal prices parti particularly for for Je lead d and zinc but since the end of or the fiscal fiscal fis Ifs cal cat year ear results of operations operations' have b been en better than during the fiscal year At th tile the present time the metal market seems to be somewhat sh stronger nger than it has been for some sometime tim time time- Our present ore reserves are stronger strong In Ill the tile undeveloped territory territory terri tern tory we are finding new ore channels channels channels chan chan- nels that are fully as good in quality quality quality ity as those that have died out Wo We Weare are considering consIdering- further exploration work in our own properties and also in neighboring ground in the tile BIn Bingham Bingham Bing Bing- ham district which may be nc- nc c- c I I