Show I I ANNUAl REPORT OF DRAGON CON IS ISSUED ISUE a PROVO March 9 Tho Tho following Is 15 the tho annual report of or the tie Dragon Dron Consolidated Mining company compan for far 1913 1 1 now ready for maln mailing to the thc stockholders Assistant Report DurIn During the fiscal year Just closed cosed no additional property ha has been acquired and tho only change chane In the mine equipment has been tho the Installation of or a n small email Ilal electric alee alec pump to andle handle the thc flow fow o of water en encountered encountered on- on countered on the tue 80 level Ic A small tonnage of or Iron ore was wa shipped to tile the smelters up to Dc December 1913 13 but at nt that shipments were ere temporarily discontinued at t the thc request of tho the smeltIng smelt smelt- lag Ing company compan There Phero Is 15 a largo large lare tonnage of oC this class caes of oC ore are blocked out out some emo now new ne ore of this Cl clasi S being developed during the year anti and the mine Is 19 in shape to ship hea heavily vly conditions are fU such ucb that tat the ta smelters can handlo handle our ur output Most of or tb the quartz quarts ore shipped hipper for the tho period caine camo from Crom tho north end of the property through the Iron Blossom and Black Jack shafts and copp copper r ore through the Black Blac Jack Jac At the i present our shipments ar are limited duo due to tho the fact that t the c ore Is I low ion 10 gd grade and it Is i deemed advisable ad to hold for or mill mi tr treatment Development De during the til year has been very ct gratifying Tho The surface tunnel commencing com corn from a point on a R level It cl with the grade of ot tho the Eureka reka Hill Railway compan company com corn pany pan mentioned In iii th ih the last annual re report re- re port port has haH been extended alon tho the Governor Got Gov eror vein for a n distance of 1700 1100 feet fee de developing do- do ce- ce of mill The Tho a large Jarge quantity mi ore ore Til completion of ut If this tunnel has lias also ilso made madet It t possible to reduce tho the cost of mining the ore above the to tunnel at least 50 per por cent Connections were made with wih the old Black Dragon Drgon workings and a considerable consid conald- ert erable bl amount of ot miln milling oro ore has been developed elope de there Tho South drilL drift mentioned In the thelast last ast annual report repart hat ha hajj b be Mi driven feet south and feet cast east cutting the contact of limo Hmo and porphyry and de developing do- do re- re a a 1 water vator flow fow of nf about thirty five n e gallons salon per minute suitable for boiler belier boier and culinary purposes This work crossCUt crosscut crosscut cross cross- cut the porphyry and three tree small shoots of quartz carrying some omo gold Koll silver sl r. lead and copper values s WI-IR WI encountered Although Al- Al though hough these lhee stringers are small they c carry rr values to the amount of about 30 pcs pcs' er ton and correspond In course and location locton with wih th the King James and Martha Washington tol veins These Thee stringers no doubt will wi respond to de de- de- de A crosscut to tho the west from the main shaft shaf hS has l been leen n driven to the te side Rie lines hinea of ot tho tio COmp company U property developing three hr c barren fissures running north and south Ol t h. h The cast east cro crosscut cut run ru a few years year l ago 0 has a. a been belm extended d to the east n a distance of feet feci and thus far the de development dc- dc lc- lc In our opinion Is la of oC great im Im- un- un The cro crosscut Is In virgin round ground and has lias passed through thruSh sixty nyc feet of vein matter mater with wih well defined foot and and hanging walls wals containing quartz and races of gold silver and lead leal values This vein parallels T the Governor vein about feet Jl to the tile east While H it does not nol Crr carry commercial values at the tile point encountered It J should houf carry c m the values at al greater depth For live Forty feet further e east st a n small Emal stringer of f quartz quarts Quart was cut which contains como Fomo very er o all values but being so small smal it Is at present Impossible impossible sible to make It i pa pay This cros crosscut cut is still BUl being extended and we expect to cut another shoot corresponding In course coure with the Martha Washington as tile the veins vein thus far encountered correspond In course coure wit with the two first frt stringers cut I while crosscutting In the porphyry jO feet south of this point spoken of r in tho tile description of oC tho south Bouth drift development develop develop- ment At the thc present time we are arc extending to th tho east et a ero crosscut cut on the 1000 level for the purpose of or cutting at at a i foot foot O Jeater greater depth the vein showing on the level Wo o have alred already ext extended cud cd tills cros crosscut cut f feet ot and figure tm that t there thero Is yet et fc fifty of oC sixty feet Ceel to run S1 before W we we- can e expect to cut the vein This work worl has hm already cut coLa a a. small mat stringer er of oC quartz containing values ahles to the amount of 15 per ton but we are arc leaving this showing until It a a- a a amore more opportune time to prospect While we e only only h have hc c a small smal amount of or commercial ore in sight sight we ve feel that the tlC prospects for opening now new ore bodies were wore never better beter and the extensive de development development de- de campa campaign now hOW being con conducted will m cults without doubt bring satisfactory re re- re FOOTAGE Tunnels l Drifts 1591 0 Crosscuts Crosscut Crosscut 1010 Rises Rises' Raises RaIses' it es Total QUARTZ ORE PRODUCTION Ton Tons Moist folst w weight k Moisture Dry Dr weight 1 6 METAL CO CONTENTS Gold ounces Average per ton toil ounces T Silver ounces i i. i A Average per ton ounces 18 US Lead cad cral pounds t a. a Per cent Copper opper pounds P. P Per cent VALUES 2812 A Average Per Ton Toil TOi Gross 1 Smelting freight eight fright sam sampling tain- tain sahl- sahl pling pUng and assaying Net et 10 IRON ORE PRODUCTION Gross freight and ad saru- saru I. I pling pIng feIght s Net Tons Ton Moist weight 19 2 50 Moisture 63 pr per r cent Dr Dry weight c f cent I I Pound 8 Iron irOll Irn per percent cent cent OPERATION OPERATION QUARTZ MINE Ore Per Per Cost Ton Development S 3 23 0 i. i Hoisting Surface I Surveying Sur and and- assaying 1 1353 General expense j Boilers t 11 S ri S Exploring 5 Total i OPERATION IRON mON IRON MINE INI 1 Ore P Per r Cost Ton Toil 3 d H Sl G 18 Surface expense e 1711 03 S Surveying and ami Assaying H General Generl expense 05 Hollers Boilers Total 0 til 1027 pr PLANT T Buildings s and fixtures 3 Oars Cats and track Cat ld t. t 2246 Hoist t 1637 Shafts and tunnels Pumps ShafA Total 1159 FINANCIAL STArE STATEMENT rENT YEAR ENDING ENDING EDING END END- ING DEC DEC- DECEMBER RECEIPTS 31 31 1913 Cash balance J Jan n 1 1 1913 i. i Interest 1 51 Quartz ore oto sales Iron or ore sales Eales I Cash overdraft December December Decem Decem- ber 31 1913 DI DISBURSEMENTS INTS Operating 4 56 1 Plant 14 69 Taxes 17 Bills able Cel receivable 01 RECONCILIATION OF OPERATING OPERATING EXPENDITURES WITH TUI TIlE THE COST COS' SHEETS IN A ASSISTANT SI I MANAGERS MANAGER'S REPORT Disbursed 1913 f Current bills bis unpaid 1 j Inventory December 31 U. U 1913 3 Bills collectable 1 i Unpaid bills from 13 1912 1913 bis t i Actual operating cost STATEMENT NT OF RESOURCES AND LIABILITIES RESOURCES Mining property Tr Treasury asur stock 00 Bills a receivable ble a 00 Supplies on hand 2 Plant equipment Sundry accounts reC receivable 8 bl 1 1 i n Loss and gain ln Total LIABILITIES I. I Capital stock Pay roll roli for ember December 31 Accounts rol payable n Cash overdraft o Total J ST STATEMENT A T OF INCOME INCOME Ore sales dales quartz 3 Ore sales Iron 01 Other income Total 10 tal 1 g j DEDUCTIONS Operating expense Iron Iran ore freight Quartz ore freight 42 Depreciation Deprecation Taxes Tuxes Total Balance to debit T of t loss los and gain gath account ACC 3 1987 GJ J 1055 OSs AND D GAl GAIN ACCOUNT Net Not loss ns as above e ab for fot 1913 3 Debit balance J Jan Ian n. n 1 t. 1913 Total td date dato 3 The 01 old bo board boan ird of or t directors consisting of oC Jesse Knight George Y Y Wallace W W. Laster Lester Las Les ter tel R. R I E. E Allen Alien and 1 L. L E. E filter was as elected b by vote ot of shares being all al of ot tho the stock represented at the annual meeting meeting- held February 9 9 1914 IOU The Tho secretary wa was wa instructed to m mall 1 copy of annual report to all ut stockholders of gf W. W U I. I MANGUM br |