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Show UTAH-APEX MONTHLY EARNINGS INCREASED TO THE $25,000 MARK News, of the TJUh-Apex property, in Bingham canyon is uniformly given out nt the eastern head office. Concerning Con-cerning late developments the Boston News Bureau says: "After devoting six months to development de-velopment work, nt a eott of over $S0, 000, Utah-Apex has opened two ore bodies which indicate a substantial future fu-ture tonnage of both smelting and concentrating con-centrating silver-lend ores. "In the earlv part of November last the management decided to close the mill and undertake the development of the Parvenu, Louisa and Dana ore bodies on a comprehensive ' scale. Result Re-sult nt the Parvenu have exceeded all expectations and the work so far indicates indi-cates that the company has a very large and rich bodv of silver-lead ore, a large part of which is smelting grade. The ore has been demonstrated to have a..trikeorlat Jeast4"0 feet, while the width so far as opened it fiftv feet. It runs verv high in iron content, for which a credit is received at the smelter, which thus far has more than offset the penalties received from insoluble mstter. There is now being shipped from the Parvenu 150 tons of ore a day, oa which a very satisfactory satisfac-tory profit is being shown. Of th tonnage which is being developed only one-third is being shipped, the balance being held ns reserve. "This is the most important ore body ever opened on the property, end the management bellevee that it will develop into one of the largest silver-lead silver-lead deposits in the Bingham camp. "At the Louisa silver-lead ore of concentrating grade has recently been encountered in sufficient quantity to warrant the reopening of the mill, which within a very short rime will be treating Z00 tons of thia ore per dev. The ore runs very high in lead, some assavi showing 40 per cent, but oa ac eount of its silicious nature it is not available for direct smelting. "The Dana ore bodv haa not yet been encountered, but work is nt n point where it mr be reached any day. "The management feels that the results re-sults of the development campaign have more than iustified the shutting down of the mill, ss the companv is now placed in a very strong position as to or reserves. "It is expected that future operations opera-tions will show monthlv earnings closely close-ly approximating 25.000, which will permit of the payment of the companv com-panv ' small floating debt and in addition ad-dition show something earned on the stock. In May net was over 15,000 after the expenditure of $9000 for development de-velopment work. These earnings were made from shipments from the Parvenu alone, while future months will have the benefit of the increased tonnage from the Louisa. |