Salt Lake Telegram | 1937-07-17 | Page 13 | Signs Show Grand Deposit Nearing Big Body of Ore

Signs Show Grand Deposit Nearing Big Body of Ore Two important developments in the progress of Grand Deposit Consolidated Mines. Inc. working a large copper and zinc property 30 miles northeast of Ely, Nev.v were reported Saturday by Paul C. Lyon, president of the company. At a depth of 47S fast. Mr. Lyon' reports, tha lnellna shaft has pan-ctratad pan-ctratad a cappinc of spongy, leached Iron and antarad a bedding of ore carrying gold, silver and copper. Tha ore was encountered on the lower side of the incline and, as the shaft la penetrating the bedding bed-ding at an angle, tha ore la continually con-tinually widening toward tha upper aide. In sinking 12 feet, Mr. Lyon said, the values have Increased from a trace of gold, S of an ounce of silver and .SS per cent copper to M of an ounce of gold, 2.1 ouncea of silver and 215 per cent copper. Thia la the first time the company com-pany has found copper ore directly under the iron capping, Mr. Lyon says, xinc underlying it in all the upper workings. He says signs point to developing of a large body of hifVgrade ore when tha abaft j reaches a depth it SOD feet and the company begins crosecuttlng to the fissure, 100 feet distant-Mr. distant-Mr. Lyon also reported that the company la making rapid progress In developing a market for Its sine oxide, of which it has about 130,000 tons blocked out. The company has received numerous flattering offers, ha says, and he will leave for the coast early in the week to confer with officials of a large manufacturing man-ufacturing plant. Work waa resumed at the property prop-erty a few days ago after a 10-day shutdown for repairs and Improvements. Improve-ments. The company has received returns on .four carloads of ore shipped to the Garfield smelter in the past month and has two more carloads st the smelter on which I returns have not been received.