Salt Lake Telegram | 1934-08-02 | Page 15 | Additional Mining News

Additional J v Mining News 1 DISTRICT 7 FURTHERS WORK Chief hief Consolidated Officials t Declare Outlook Improved t Development Reported r Pronounced faith in the remarkably remark ably profitable character of mining mining Tintic m mining ing dis- dis In Ut Utah ah and the intent intention tion on and the in particular of indefinite holding and adherence of the Chief Consolidated Consolidated Con Con- to the enterprise Mining company were rePorted reported reported re re- ported Thursday by Walter Waller Fitch Pr PrA president A A few months he hence nee we have in ion added production of anticipation an Standard and Eu Eu- our Apex ore ore from ka Lilly LUly properties Mr Fitch said sen semiannual report to stockholders ers ens The first named promises to tobe s. s b be a gold producer er and as as the preliminary pre ore we are finding in the opening up work we are doing there carries also a good percentage of silver sil sil- ver ter we are arc encouraged in the belief and end hope that we may have coming to us an exceptionally profitable I mine thanks to the higher prices given to those metals by the thc federal administration We are encouraged with these new developments de in prospect that the time is approaching when our I larger plans of development work can be put into operation in our unequaled unequaled unequaled un- un equaled large ownership of mining tl property with the full expectation profit profit- profitable of funding finding new ore bodies and profitable profitable profit profit- able mines C Mr Fitch also declared that already al already already ready the severe effects of the depression depres I sion lion have been overcome overcome in the Tint Tin- Tin P t tic district t Cecil Fitch Filch general manager reported reported re re- r ported satisfactory operation of the company's leasing plan in opening the Chief and Eureka Lilly mines whereby men have been employed The general mana managers manager's ers er's report announced announced an an- pounced that considerable development develop develop- ment work ment-work work has been done This work l I includes the thc driving of two crosscuts on the Beck fault through the Chief No 1 shaft No 1 and No 2 Apex Standard shafts shaHs have been reopened and the theNo No 2 sha shaft t has been sunk to the foot 1000 level with drifting now in progress The company plans to continue this shaft to the foot 1100 level as encouraging streaks of high i grade gold silver gold pre were pa passed ed r through 40 feet leet below the foot f L level The Eureka Lilly shaft located located lo 10 one mile mn so south th of the ore are deposits deposits de de- posits worked through the North Lily shaft in the Eur Eureka ka Lilly mine is down feet an advance of bf feet r The report also presents a tabulation tabulation tabulation tion showing operations of ot the past pasti 25 years have resulted in the mining r ot of tons of ore for a net nel profit prom ol ot and dividend pa pay pay- of ot