OCR Text |
Show HISTORIC PIOCHE MAINTAINS RENOWN Nev'Year in Mining Promises to Rival Big Record of Past . M;.eeeii Twenty-one promises to be a wonuerful year for Florae. Nevada, .the most wonderful year since the days of the "se vent lea,'1 when the camp, then In 0e bloom of Its youth was turning; turn-ing; out silver at the rate of two and One -half i 'Illton dollars annually. "Half tniUoti a year" In the 1HPn of tre district's biggest shipper, the frlnre Consuadated ilinir.i and .Smelting com-paiy. com-paiy. T- realize this aim the rrlnoe ha only m produca from its next lower beddm! tie name monthly tonnage It has been producing from the ore bed-dlnsra bed-dlnsra above. Where the uppr bddinire have been yielding I? to 14 per ton. meUer returns, the sixth bed, now only iOO feet below the foot of the shaft, should, owiiif to Its better grade, produce pro-duce a profit several times greater, ac-cordti ac-cordti g to the most conservative estimates esti-mates of the management. TWENTY CLAIMS, The Prince company owns twenty claims, a stand a id gnuge railroad from the ml'.e to Ploche, loo.(o tona of vulua-b.e vulua-b.e ti II tailings and a mill. It was credited cred-ited a year ugo by engineers with a 7r.0,-oO-ton rerr of lrrniriaririinefe flus Irg rr rr;'ly for development and extract ex-tract I'U.rtr.da to the amount of v7t,-.4 lave bu paid from earning on thl class of ore. Fifty thousand tore of tle mill tailings formerly sold brought tie company IAOoo. The re-iTiainlKg re-iTiainlKg tailings sample $14 per ton in e.lver, lead and gold. Thes aaaeia' lu themselvea make the Prince oi. e of the big mining probities of Nevada, but it Is due in i un dergo a transformation which slu'ild pla -. It among tn great t prcWus meial m.uea of the, world and bring back to fiv? e it pre bilge and giory or a mal msrWet conditions a handsome profit. The thick uees, area and value of the five uwr beds are demonatrated by years of art 'ml development and production. produc-tion. More than 741. 0 tons of the flu-tng flu-tng ore have ben mined and marketed. The net returns have paid for new territory, ter-ritory, the sinking of a new working shaft, various other permanent Improvements Improve-ments and. in addition, the half million of dividends disbursed. BY DIAMOND DRILL. Pttta on the lower beds Is derived from the correlation of diamond drill remits re-mits with the established facts of the d lit riot s geology. L'pon the reasonable assumption that the sixth bedding cor-; cor-; responds in area with the upper beddings, I engineers can forecast a laid of more thn Kfl.WHj tons of ore wu'i an aggregate aggre-gate value of over three million dollars. This does not take Into account exceptionally excep-tionally rich ote which is expected to make in the fissures and secondarily en-ricud en-ricud deposits that can confidently be anticipated. Tills mouK ntons Increase In the eam-injre eam-injre v( the 1'rince aeeme to depend solely sole-ly on the time hl h will be required to drive the shaft from the (34 to the foot level and preftur the workings for ore extraction. This tak would have been completed early in lutd it not bet-n for Ubor dt9turtances allien par-a par-a z':d operations, and tireiter and railroad rail-road restriction which greatly reduced the Income from th fluxii.g ore. INCREASE CAPITAL, The stockholders have authorized an increase in capital stock and by the suh-! suh-! scrip' lrn at the nominal prv of 81 cents , for .,'. fx) shares of treasury stock, they ican r-adily provide funds to carry the ( ehaft to its most important ob--tlve, ; which ahould le a matter of three month ; murk. The privilege is furtner reaerved 1 to the first sMb-riters of retting a proportionate pro-portionate allotment of additloi;l shares ,at 40 cmts within three, months, when the r-newal of development will. In all likelUiood, have advanot-d the market prit to its foiiner level of. Ti cents to ll.r.J a share and opened the way to eamincs inKunnjc dp. idend retur:;e on a much ..Idler vaiuat.on. ger,ertio:i ago. Tiis really high-grade resources of the Prince are underneath Us prcaent work- Irgs. This U not merely a theory, ow trg to t'se peculiar mauner of depoei-t'or. depoei-t'or. It is fairly easy to determine the Talus a: d to estimate with probable a.:-curacy a.:-curacy the extent of the deeper ore de- poslia of the mine. CAMM GEOLOQY. .The geological formation consists of al;etraUi g layers, or beddings, of p-r- ! meable a.d Impermeable limestone, ly. 'r.g almost flat, which are cut vertlcallv by two minerallxlng fissures. The fln-aures fln-aures f.ave been productive, hi.re opened, of the richest ore yet found in tLe mine, some of It running as mu. h as J- O J'i jea of silver to the ton and a h re ttey ha cit the beds of rwnneale r!n.ete they liave replaced the Hme-fi:e Hme-fi:e for ereat d!Ktna with i,r fe en bedded deposits occur between the surface and the lHKi-foot level The first five are eo, to, 20, ft and 12 fet thick, respectively. Ths sixth is somewhat some-what between 11 and 24 teet atd the evet.th 10 fet In thickness. The first fiv beds are alove the water level, a1u.h of their mineral has been hmched out a.-.d carried to the lower sons but they a'iil average about 110 per'cent Iron. :. ier cent maiiganese. t I per tent le.ui and 2 4 ounces silver to the ton ant Juise brought at tlis sineprs, where tiiey ms ut -excelled for fluxing purposes. pur-poses. $j to II pr ton. DIFFERENT BEOS. The. rxih bed, which 's 3'.'f fet he-low he-low t: aster lever should average letter let-ter thaii twenty-five ounces sih'ir and gold and should yield fully $J) per ton at smelter or mill. Tfie eevrjuh bedding Is 17j fct from the ai'fttc and immediately alve the qia-'7it. It a nay a aLout Zi) per cent In x:'.c sulphide of excptinn;il puntv thiol; should command the top price at tl I'1 ' elrersj Snrt y,1 tu dr nor- |