Show UTAH COltS o ORE ov IS s NOT CUT CT Oft Off IY BY 7 P fAULT EXPERTS CLAIM Manager nager Risque of or the Utah Uth Consolidated Consolidated Consoli- Consoli Consol dated mines in Bingham about which so BO much has been said Bald regarding a fault fult of the great geat ore bodies has made mado the tho following stat statement for publication I I 1 am satisfied that tat thero there is iA no basis basia for tho report that tat the te Utah Uth Consolidated Consoli Consol dated dated's s oro body is cut off of by a fault and carried up tho the hill bill hi into Yampa ground gound The Tho mine is in splendid shape I find evidence In the lower workings which leads mo me to believe belove that thero there may bo a zone of secondary enrichment enrichment enrich enrich- ment further furher down down I firmly believe beleve that the Utah Consolidated property contains ono one of the biggest mines mies In inthe i tho the west west westIn In JR this connection it is iR interesting to In interesting note that the mine began to pay dividends divi divi- fIends in in 1001 01 of oC M 2 H a share and that these disbursements have been heen Increased In In- creased from time timo to time until a total o of of approximately has been given gIEn to the shareholders and a surplus surplus surplus sur sur- plus of more than has accumulated ac ac- ac cumulated in il the tho treasury Recently Geor George e L. L Walker the copper copper authority who makes an nn annual inspection of the tho western mines ma made e a n careful inspection lion tion ton of this property and tae gave some of the tue following interesting lads tact regarding regard in ing it i. i Discussing the property from a geological geological geo geo- lo logical ical standpoint it mn may be stated Jeo positively that there is not not ono one iota of evidence e above e ground or below to sustain sus BUS tam tin tain th the theory that i its ore bodies Loties or ortho ortho ortho tho limestone belt in 1 which they occur arc cut oil and removed rero into Yampa ground round or that they are arc identical with those of tho the Yampa property What is il known as I the tho bi big fault faul passes for sonio sonie RODO distance along tho the gulch in tho Utah Consolidated property and where it has been penetrated b by the tIle underground underground under under- ground workings it i appears appelS to have moved mo the tho limestone about twenty five feet feet As the limestone is feet thick the movement mo referred to amounts to only a slight fluctuation in inthe inthe inthe the foot and h hanging nin walls wals It I causes no new apexes an and it does doe not in any anyway n wn Wa way rob tho the mine or diminish its is value alu or becloud its is future futuro prospects The Tho Fault Fault Rumor I A A great deal of or the mining of the past several sc erl years has been done done near the surface and durin during the cosin closing winter and spring months of this year three or four of tho old 01 slopes caved in in making some of the tIle important ore bodies temporarily unavailable It I is quite fuite probable that for some somo time there was as reason to doubt that tho the new management man a ement would be he able to keep up the tho tonnage of production required and the circulation of reports report to this effect probably caused cauer large blocks of stock to 14 be marketed d. d This started tho the decline de dr de- de dine cline and anil tho the fault story which in e effect ef of- feet prepared the property for the grave O Jr digger contributed d it its A share haro towards the panic which followed The new management has put the Utah Consolidated mine In splendid shape It I has hal reopened tho the caved slopes scopes Ina u u. u tho tue practice of oC refilling to a n sufficient sum sum- dent tnt degree decree to dl dispose of all al waste In the tho mine thus obviating the danger of oC Curth further fur Cur th ther r occidental accidental caving It I has resumed exploratory work on oti a n larger cal than thane c ever e 1 and has hag opened three ore bodies al alread already al- al read ready reads which add t tremendously to the In In- value of the property I 1 went vent through the tile new or ore bod body which was wa discovered a n few Cew months ago on the six lx and one l x I. I A considerable portion porton of tim the pr present lent production Is 11 comIn comIng coming com com- In ing front from this tills new find Ind It I has his been ex explored ex- ex to show how that It Ii Is approximately approximately ap 81 ap- ap proximately f feet et square and n nearly arl feet deep thol though h Its Is extreme depth has not been bee dt dr d fully Culy Thero There IB is at least tons of ore In this one dc- dc posit which av averages rg s slightly hotter better boter than j 1 per cent copper and per ton lon In gold and silver From this grade grado of oro ore the company can make copper at at a cost of oC about 7 cents per pel pound It Is probable that pounds of copper will wf bo ho produced from Crom this one ore body It I therefore should yield 8 S per share hare profits on a cent 15 copp copper r market Another Ore Body Another bo body of oC ore of or about the the same Mme grade grad has his been heen opened n near ar what Is known as No 9 slope hen When this pert part of oC the mine was worked h by th the former Cormer management ement extraction was carried to the fault plane plant beyond which th the ground was I apparently barren baren A drift driven dren through the fault Caul recently dl disclosed d er ore within six C feet el from Crom Its starting point point and Is IE openIng openIng opening open- open Ing up what may prove pro another deposit of great reat value The Thc new management manage Is extending tho the limits of the mine In a n westerly direction Level No o. o 5 has been driven b beyond vonI the thirteen and md one half fault Cault and has hs opened up a splendid bo body of oC lead silver led ore A ten feet wide has hil bp been n carried up eighty feet In this but th the full ore hil ex extent ex- ex tent of o the bod body has not yet et b been en de de- de- de Shipments of oC one ton fifty ton tt-ton car carper carper ar per POI da day were made to th the lead sm smelters lers for or several weeks Tile They Thoy yielded d the tho compan company com coin pany pan a net profit of 1000 to 1300 dally daily or suf sufficient c nt to pay pa the total expenses at atthe atthe atthe the mine Including the cost of oC mining SOO to tons tens of copper ore Shipments of ot lead led ore have ha been discontinued temporarily tempo tempo- rarity because of oC the failure of oC the railroad railroad rail rail- ri- ri road com company pan to supply ore oe c cars up Down in the Ground It I It will 11 be recalled that a was sunk ICO llO feet Ceet below the working tunnel of oC the mine several ral years ago and afterwards allowed to fill fl with water These workIngs workings work- work Ings have b ben been en pumped out recently and development work ork In Is I. I going on at depth The oro ore In sight In these lower workings Is of oC lower grade than tho the average of or the mine as has been eo so persistently reported A fact tact which has been omitted however 1 iii II that tat these workings s are confined to what Is known as the M I ore bOdY the tile first one encountered b by the tile tun tun- tun rid nel net Th The Th grade crado rdo of oC this tills entire entro oro ore body boy In InIs Its Is upper workings was a always below the theU U average of all the others It I Is therefore h r Core natural that It should be bo low grade nt at depth Tho The oro ore continues t to show tho the cha characteristic racer Is tc 01 ton Q to and specks of oC In an Iron pyrite This causes mineralogists who have nave examined examine It to believe e blo that when the tile theore theore ore bodies further west vest In the mine aro cut at nt greater d depth tho they will wl be found Cound to maintain approximately the same average values that they show chow on the working tunnel level lAW I 1 The le management l na will wi continue to extend extend ex ex- tend its Is operations wo west t and thoroughly explore In that direction tho the big blE limestone belt In which the ore deposits occur Developments De Do- so far made malo encourage the be belef belief belief be- be lief lef that a Yer very large tonnage of high high- grade silver lead lend ore wl will be Le opened In the tho upper levels level and that these deposits will wl bo be bl replaced replace at It d depth by copper ores orea Rapid Development About acres of oC surface area owned by the company and heretofore unexplored is being gone over o very lery cr carefully tul h by the th Amalgamated J geologist ant and 1 anI anything any any- thing located will wl be he developed A short hort tunnel has been bOI run Into the hill directly wet west of oC th the tho Yampa claim and is in ore ori ore indicating that the tho Yampa vein continues on tha Utah tn Consolidated on pr property P I It I Is 11 probable that thal tho the company will wi sink sinka I I a shaft on 01 this ore oro bb or crosscut and I open opeti It I up from th the westerly workings 9 oCI of oC I Its Is mine Meanwhile wt It ft will 1 continue continuo to extend development de work In connection with all l of oC ltd Its ore om hod bodies Ie and anil put th the mine In shape tot for a much muCh large e production production- Anticipating a n coal famine In Utah this winter the tho work of equipping the Utah Consolidated mine with wih electric power IsI is being carried forward as rapidly as sl- sl I ble Electric locomotives will wi haul the theore ore om nut ou of tho tIle mine All Al the thc principal levels an and loading stations will wl bo be bl electric lighted nail ond the tile big compressor plant I which operates tho the power drills will wil also he be and run rn with wih cl electricity When the tho coal conI famine strikes Utah this I winter tIe company will wl be using no coal at Its Is mines except In UH its IH blacksmith for forge e. e It I I Is I figured that a saving ln of oC 15 15 to IG per power poser power annually will wl re result ro- ro suIt sult suI front from tho ho change chango chan o. I It I Is II practically certain that the proposed proposed pro pro- posed new smelting plant phalli to bo be located In Tooele valo valley three mi miles from tho the thomine thomine I mine will wi bo be built hul It I will wl give 10 the Utah Consolidated tremendous advantages In Inmany inmany man many directions It I will wl be he tt able abl to ship I Its itz Is oro ore direct from mine to smelter over o overa i ia a tramway about three and one-half one miles mies I long thus thu saving the tue freight char charge e of 10 I cents per ton which It now pays pas on Its Is Isore ore between Bingham Canyon and the I smelter It I will wl also b be able to eliminate I i ithe the bl big legal le al expense and damage account which It I now non pays as os a result of Jt litigation atol with lh the farmers Carmels In the tho Salt Sl Inko Inke vale valley Tho new smelter will wi be bc larger more modern arid and nOI more economical The Tile management man- man favors Cavos building It I in ton ton rOO-ton units unis three to bo be erected ereCted at the start Th The tramway can then theil h ho connected up and ann the old plant taken down and moved to the now new location and set up a again aln stIn st j In Ing the tho company compan a smelter of oC 2500 2600 tons tons' dally daily daly capacity Tho The company will wil probably probably i ably bul fu Its Is own railroad from Crom the he new smelting plant down Tooele valley to a point near Garfield where It will wi connect I with the Union Pacific lh the San Son Pedro Lo Los Angeles Salt Sni Lake and Rio Grande Western Pester railroads putting it In a n very cry In Ind Independent independent In- In d dependent pendent position EO so far ar aa as railroad fa- fa a- a duties arc aro concerned It I will wl then enter tho the custom smelting bl business lne s and treat ores from Crom Tonopah and elsewhere makIn making making ma- ma maI I king kIn a special hid bid for tor those thol hl highly sl- sl sill sill- I ores ore on which the working charge is heavy rind the profit correspondingly I large Th The Tho fluxing character of its Is own I ores will wl enable It to put through h a n considerable con- con tonnage of oC refractory ores at a asery avery very sery slight ex x Tons Dah Now Plans for tho the new nev Utah Consolidated j smelter are aro being drawn at t Anaconda under unter un- un der iler ter tho the supervision of General rl r Mathewson of the tho plant Mr lr MathewsOn lathews n hits has acted In a consulting Capacity capacity ca ca- for Cor the tho Utah Consolidated company since th the recent change han e In management and nd has brought about some sonic very Important Important tant Improvements and economies at the smelter Tho The capacity of the tho roast roasters r and furnaces s ha has been heen Increased until the plant IB Jr Jr now handling tons of oro ore dal dally daily Within a n few tew w weeks it I will wl he be prepared prepared pre pro I pared to treat an mi average a o of 1000 tons tong dally daily daly at a I much mich lower cost per ton than over oyer In the past The average erg yield of oC the ore now treated Is not so o hl high h as In l 1906 I 1 t l r that the company will wi treat trent about tons of ore this uk year rear which will wl yield au an average lre of oC two fifty pounds of copper and 2 50 per ton In sold gold and silver sl The to toI total total to- to tal operating expense will ill wi be or less Ie-es per ton resulting In a n net profit of oC 6 6 P per I Iton I ton or equivalent to 6 0 per share sharo on It its II cap capital tal stock This will wl bo be b. b Increased considerably b by th the tho n net t profits arising from I Its Increasing shipments of oC sll silver lead r ores E Eventually these thele shipments ship ship- ments may yield riel a sufficient profit to re reduce reo re- du duce duco tho the cost of oC the company's compans copper even evon on e lower lowet than the r record cord figures made last year As the th company om pan has hal about In its 13 treasury or 10 0 per share therefore fore it ma may be he bt expected exp to continue I Us Its present ent dividends of 1 so 10 I quarterly while rop copper er sells lelM at Its 11 present nt le level 1 If U the plan to Increase Inree Its Is smelting smelling capacity ca en- n- n to 2500 2501 tons of ore ort dally daily I Is carried our and Utah Consolidated d produces as high an average 3 as 2000 tons dally daly from Crom its Is mines its Is annual production will wll wl I amount to pounds of copper I which should d ld on a cent 15 copper I share market marke not net earnings of oC HZ 12 12 to 15 5 per I |