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Show IRON BLOSSOM IS CARRYING SURPLUS Of OYER $400,000 When ' Vncle ' 1 .Tease Knight was aske.l regarding the physical condition of the Iron Blossom today he Mid it was exreljeat. As to the ton nana in sight, ha could not give an estimate, but said that he was satisfied that there was enough first rlaes ore in the propertv to insure it being a dividend paver or several years to come. Yhe product is now coming from the 3'tO to 600 levels, and only the first class ores are being mined. The low grade ore and the jugh grade ailieioua product are being left in the mine to be taken out when the mill is completed. com-pleted. Tests have been made on this low grade ore and the metallurgist employed at the mill plant claim that high recoveries of the precious metals can be made by the process that will be applied. If this in true, the life of Iron Blossom mine as a producer will be lengthened by a number of years. With reference to the financial nn dition of the company. Mr. Knight said that thev had over $4Mi,non in the treasury and that they were earning a considerable amount more than was required to meet the quarterlv dividend panne nl M aitW.OOfl, The July iiw.. dend will be deducted from the amount of cash no ha; I reported at this time, vet bv the time tnis pgvment is ac tuallv made a considerable amount of ntonev will iave been received from ore shipments. The mine has been a steady produrer sirire the first announcement was made several years ago that ore had been discovered. It has been opened up to a depth of 10on feet, but no large ore deposits have been found in the lower level, yet it i possible that some larpc deposits of copper may be found at depth, as it hs- made it appearance in umall seams and streaks at times. There has been developed in the upper level ore sufficient to keep the mine producing produc-ing a vear ahead, while the country below these deposits is being systematically system-atically prospected. |