Show i I I PARK CITY CON HOT AFTER GOLDI GOLD Manager Regards California Property as Sister of 16 to No time is being lost by the Park City Consolidated Mines company in starting the development of or the Call Call- fornIa gold property whose acquisition tion under an option was wa recently anThe an an- The option contract was taken over from the Allegheny El EI Dorado Gold Mining company by a newly organized organ organized Nevada corporation called the Yellow Jacket Consolidated Gold Mines Ltd Under its terms the Yel low Jacket will own outright and without indebtedness all aU of the property prop property erty and equipment of the former Allegheny Al Al- El Dorado The Park City Consolidated gets the right to purchase purchase purchase pur pur- chase control of over 51 per cent of the Issued stock of the Yellow Jacket for This stock may be purchased purchased pur pur- chased monthly with funds supplied for Tor development or other work by bythe bythe the he Park City Consolidated The claims that will be owned bythe by bythe the he Yellow Jacket Con cover er the outcrop outcrop outcrop out out- crop of the Colorado Osceola gold quartz vein for a distance of approximately approximately feet Their geology is isaid said aid to be very similar to that In the theamous famous amous Sixteen One property near by CAN AN BEGIN IMMEDIATELY II J. J J. J Beeson vice president and general manager of the Park City Con says in a circular letter to stock stock- holders of th that company mailed out i Friday Under present conditions with the gold property fully equipped to carr carry on mining operations and with witha a new stamp 10 already constructed and paid for lor we can begin operations on development work immediately with an excellent chance of encountering encountering high grade gold ore The best ore shoots in the Sixteen Sixteen- One to-One occur in their large quartz vein where it Is either crossed by or close to the serpentine dikes These dikes in Jn alternating from to serpentine have swelled and the pressure pressure pres pres- sure thereby set up has micro frac this quartz vein This micro micro- fracturing of the quartz opened it so that gold solutions could impregnate the fractures The gold solutions were apparently introduced through fissures cross later a r than the quartz vein itself anti and the Inc micro When Then these fissures cross intersect the quartz vein at points where it has been micro fractured that is near the serpentine dikes it Is a favorable fa In- place for the deposition of high grade ore shoots There are similar sins sim ilar serpentine dikes crossing the Yel Yellow low Jacket property and cutting through the strong quartz veins on that property Most of the preliminary preliminary nary development work to date on the Yellow Jacket has been done drive ing toward these favorable areas and only a n small amount of additional work Is now necessary on the YellowJacket Yellow YellowJacket YellowJacket Jacket to reach the areas which should have similar geological conditions conditions condi condi- to those in the original Sixteen Sixteen- to-One to where their main mam ore shoots occur The Sixteen One mine Is said to have been started on its present paying dividend record through the expenditure of and up to 1930 it had paid in dividends ends to its stockholders Since 1930 1030 it has continued to the present date asa as asa asa a steady paying dividend mine and we are reliably informed that for each dollar of gross production there is a net profit of ot 42 cents after paying pay pay- ing the cost of mining and milling which is certainly far lar above the average WILL FINANCE WITH STOCK Park City Consolidated plans to I finance fi nance the operation Mr Beeson says by the sale of treasury stock to its own stockholders under a special allotment allotment al ale al- al Together with the description of ot the California project there is given in the circular a tabulated history of the operations of Park City Consolidated Consolidated Consoli Consoli- dated Mines from its beginning in inJune inJune inJune June 1928 to June 1931 when work was temporarily discontinued awaiting awaiting await await- ing a higher price for silver This shows a a. a total production o of tons ounces of gold ounces per ton ounces silver ounces per ton 2098 lead pounds average content percent per percent percent cent zinc pounds average per cent Smelter returns gross net after freight and royalty It is encouraging to note Mr Beeson Beeson Beeson Bee- Bee son son remarks that not only was the production substantially increased but also each year the average grade of the ore showed improvement During During Dur Dur- ing the last month of operation the tonnage mined amounted to tons or a little over a hundred tons a da day with a silver content of ounces which was the best month so far as tonnage grade of ore and mining costs were ere concerned during the en tire history of the mine The mine is now in condition so mining can be resumed at any time without delay when the price of silver warrants such a n step 1 1 1 |