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Show ANNUAL REPOST OF LOWER MAMMOTH IS RELEASED TODAY: Annual report of tha Lower Man. moth Mining oompany waa released today and tha report of Manager J. C. Dick la to tha affect that thara haa baan an Improvement Im-provement In mlna condition alnca July of last year. That a profit of $ZVS1.3 waa made within tha laat four months of thf year from tha shipment of tan care of sine ora and ona of copper. Ha thinks tha company has a valuable asset In lis alno Product, which ha valuea at 117 ptr tun, hut which la too low to ship under existing; conditions. They ara now doing aoma axperlmental wurk witn thla uia. which may solve tha quaatiun of treatment treat-ment at the mlna. Superintendent Prlca r ports that alma ha took charge of tha property laat August Au-gust ho haa aeon great Improvement, and ha g-ivaa acvount of work in detail aa follows: "At tha time I took charge of tha mine, work, landing to develop the weal part Of tha property, was being prosecuted prose-cuted on tha loot) Isvel. This work was dlscontlnuad. Tha 1MK level waa choaen aa tha point moat favorable for developing; develop-ing; our north and waat territory. ins croeecut already started on the U'W levei waa continued approximately 1M feat, making a total dlstanc west of the co urea of tha Old weal flee ore of 4LV0 feet. Near tha face of this crosscut wa an eoun tared a fissure containing low grada lead ora. Thla ora will assay approximately approxi-mately SO par cant lead with low ailvar and gold valuaa. While thla or la not commercial It demonstrates conclusively an or h orison to th waat of any previously pre-viously known ora on tha property. This fissur haa baan drifted on at thia data 34 fast. Thla work la betnr dona with tha purpose of axpoalng lha porphyry that Haa to the vouth. At this contact our bonanaa 1700 stops was discovered on the old waat fissure. Thla drift at thla tlm I In fissur matarial, tha foot wall smooth and striated, showing avery evidenca of movament. whlla tha vain material present ahow some load and ailvar valuaa. I consider thl portion of th mlna a good proepaat. "On tha old wast Assure approximately ninety feat wast of tha main shaft hlifn ailvar and copper value were dlecovered. At thl point wa upraised 100 feet with crosscuts at the top or fifty ft laft and right. Thl work waa a dtaappoinlment. Nothln of a commercial grade waa di-oovered. di-oovered. . "On thle seme flssurs to ths south ana sxtendlng for approximately 4K teet on the etrlke. la an aree containing sine,-From sine,-From this area about SO per cent of our si no shipments kave been obtained. 1 may aay of thla area, although ths .mount of high grade sine pre rs limited. It shows a largs amount of ore thai as -saya approxlmatsly II per cent Bine This mutsrlal ahowa strongly on our 1J00, 1400, ae well as our 1600 I would estimets ss probabls In this 1 block upwsrd of 160.000 tons of matarial of thla (rade. While at ths present time thle oTsls noncommercial It should be con-sldered con-sldered aa a future asset ',"'lr.. "On the 1700 Isvsl n upraise Is being driven for the purpose of prospecting ths Slick of grounl lying " 1700 stops and our north end lines. 1 raise Is at prssent up 110 feet. It Is now " nSnoomm.rclal leaef-alne metertal. I m ssngulns that this work will show ore or commercial grd. wlthlj ths . wxt fifty feet, sine the alms bodies on the 10 Isvel show strongly going downward. "On ths 10 Isvsl wa are mining approximately ap-proximately M per cent of our present ilno tonnags. Thsrs Is some copper In conjunction with the si no at thla point from which a small tonnage can be expected. ex-pected. Thla or body seem to bs rotated ro-tated to the bonanaa atopa of the 70t-level. 70t-level. While thle snrtohment seems to no exuemely enmtlo we may oontlnue our present rate of production from this source for some considerable period. At this point ws have the prospect of the ors making undsr tha old atope proper In cSrnpeTetlvely large ouantltlss. We ara doing no prospecting here other than that Incident to ore extraction. - . "On the ISO level at a point approximately approxi-mately 110 feet north of our north end llnea the Hold Chain Mining oompany has encountered good prospects of en ore body. This ors Is a good greds of goid-s1lvsr-opper bearing quart. The Oold Chain oompany Is actively prospecting thle find at preeent. . "On the 1300 level the Oold Chain and fwer Mammoth are working conjunctively conjunc-tively driving toward the or mentioned above. Thla work his been disappointing In direct results. The ground passed through being brecclated and very looes. The significance, however, of the email hunches of ore being dlsoovsred ie Inter- sstlna. sines they indicate atrongly another an-other ore chute on the old weat fissure, fllnce this fissure 1e In placs In Lower Mammoth ground I predict that thla body will be found on Lower Mammoth terri- ltf'n oonclualon I shall say our weet work Ion the 1600 demonetrates conclusively a mineralised condition In virgin tsnitory that may produce a mine In Itsslf. "Ths occurrence of an ora body on the old weet fissure Is sxtrsmsly probe hie. Thla being demonstrated by Oold Chaln-Ixwer Chaln-Ixwer Mammoth development. Our alno bodies are holding out nicely and we may expect to keep up nor preeent rata of production for a oonsldsrabls perlod. The rompany'e financial statement shows that 120.000 was realised from two assessment and 11711.14 from ore salea. |