| Show I UTAH UTA I COPPER Ii t ANNUAL REPORT I P h i n i Interesting Document Received fy i By Y Local Shareholders Yes Yesterday i I AS i Afternoon 1 j jl j l l i JACKLIN GS STATEMENT ti t i L Lj JP i r lit in l j 1 l 11 It Of or Ore Oro io j cIa clil j l h rt t JI JIjI IO 0 report or ot tho tn Utah opper oper company reached local share I f It I has mudo mu o Its IL up ll jI i In n pamphlet fonn form und iud Int Is 1 t bout ut th neatest nl test thin thill ot of tho tI kind i over v cIrculated In this tiit regon l 1 9 Tho Iho Fh ot or General Manager j 7 fy l 1 C 0 much i Information about Ibell the tho com corn I to tho the Jr h mines Mr says f r The fhe h C mine has h he n by byJ J ff r f approximately fo fe t of o ln lr f ground worl ln Very Vor little c ground development ban hai ha donn donE donEt t f since SIncO Jan 1 I 1307 1 Ii I the tIle ore U bodies fI nt that time wore WN blocked out for tor years y erl in advance and 81 nd It was vas therefore f thought best to expenditures 1 l 1 L to tf tho the removal of I den l The Tho ore oro bodies of oC thC the property con coil conS contI tI liP S t 1 of IC an In E porphyry l T i containing grains ot or nin I i h ernis IVI very vez uniformly i j throughout the Iho mans both In 11 it r I 17 f f scams und tind Int In the he tlc body lEody of ot o the rock J nEd mid 2 per cent COPI rc of oCal an un ounce and nOEl Oli Ol of an ounce nold gElI coll The primary ry JY copper t v j 1 i o 1 I Is YIt hut but an as al a U result ot oC VL Oxidization or of his this t mineral I I I and lIel seC l t I deposition of or othora i j I nil nIJ all al of ot o Ilic ot or nl f copper arc aro now flow present tho the predominating i I 11 th r one The rhe de lie let t i unc and partially developed area arCI nn nR shown by liy ln map 1111 covers I al uC About A bout CO GO of the 72 7 Z cre contain porphyry of o I Ir h i value slated Tho r 1 12 acres average Iwer somewhat t t r not nEll much In excess s r i of 15 pop tent cent e nf The Pho lh je of otIe otho the over or this 72 7 acres aCres has not not yet y t been 1001 heel fully demonstrated 1 i by development hilt but In I existing develop developments menU ments Indicate an n average depth of or about 10 fort feet which Is tc tons teu ot of ore per er acre nere or 60 CO tons of the hotter better erode grado oro ore I ami tons tonEt of or the lower grade giado I l ore Of In 10 II thin body hod Of OC tho the tons tOnE of o better grade material a 0 body bOc of or Z O tons I fully developed or 01 orin in In other words 0 reI s blacked out Olt so 80 that It con be lie accurately measured and Its ita Is value definitely determined tons ton are arc partially that Is Isto Isto Isto to say ray I developments lEave have gono gone far farenough enough to Jo prove the tho existence ot of this additional quantity of oC material hut but hit Its not Hot to permit of oC being and on nil all ni of oC tho thio fides EIdes The Tho remaining tons ions Is 15 classed ns as Oi undeveloped for or thE tho hi ron reason that Its existence is I only shown by II a n limited number of workings most of 0 which are lrA Diamond drill dri holes holos In the tho area arca under discussion Is IR a 1 zone nf Of C lower grade nrc averaging about abolt 15 per pcr CoOL cent and probably containing about tons This zone Is Il entirely undeveloped opre save SWE by 1 the iho diamond drill holes holO that pierce It i but buts itS Ita existence has been proven done donev wherever drilling has been v MINERAL ARICA AItTA AIU A fi 7 TlC The total area of oC mineralized por per porphyry contained within the boundaries of or the tho property Is about ICO OCO Ing Ii 88 S acres acrel which are nrC not ot considered as ns W In any ally nn way developed although n a portion porton of the area is II I known to contain ore oro of or grades rida Tho The ground to tho south and east ot or tho the area shown as ns developed and partially developed d and lying hyIng on the tho south louth side Ite of oC the canyon also has name acme possibilities ties tieR te This Thin hIR Is II by a 1 number ot of more marC or Ie I f a shallow workings on tho thu ground Ruth h by work done in tho the tm In 1 vIcinity on contiguous prop IOP propE E erty orl On the th north side of the can canyon canyon yon and to to the east O t of or the developed f ore Ire body bOll Indicated a 1 working ot of o con el extent known a IK Tunnel C has hns developed for several sevrai hundred foot rot of or p Its length an on average grade of n ore are and tho thEE film level workings OO feet feit vertically below belo show how a I lower grade of oC still there Is a n I y 0 of ot developing some Hor oro ore at t this point The ih of or the tho tH extreme north orth eastern portion ot of tile the property Is but bu IJ slightly known but the workings 1 ox l tending furthest In that teJ 1 direction on 1 the th north side Ildo of at tho the canyon are stilt still Jn In n ore oro of o a 1 good and there Is II rca rea reason son BOO lon to hellove that a 1 portion of or the area i win develop ore oro bodies of nt wit hOlles a commer commercial f cial value The Tho mineralized i porphyry t flea area len lying to the west wit of oC tho the devel developed c area IrCa or down Iown the li I is o or of lower grade Koco than tho the average of IC tho the property anti generally sim similar liar ilar to tho the 12 1 acres of oC ground mentioned ns OH averaging In excess o or i V V lC 1 1 per Pr cent In Iti II fact ne It ii In II entirely entro V Improbable that this whole area Irl wll lil V develop oro ore bodies hut but wil i 1 u uV V V portion of oC it will ivill 1 do dl if so Token an its ana n nI V V V a ft I whole V not to exceed of oC the thu V V area known knowl to tut tl contain COllner V cIal 1111 values bits been developed Pos Poe Possibly PO PoeV V V sibly Ihly not to exceed of tho the V lot tl o un Eli EliV V V developed portion will vIli wi as its high V V grade OH LuI 1 Iho lie portion devel developed it ppe Rica area wilt will wi contain that fi 1 mill avill futuro wi show shiny V profits in II i inn In II tho t ho 11 V Mr Tr t WOOL went Into litto VF V regarding tho the methods of or muting mining em employed OI b L I j V Ilo p nt at and closed with wih i IL a I description of or tho the big hiI mill V V Tho Th lo financial statement mi 4 made Indo the I 4 V following tolo exhibit a ii i V Thu h account of at assets Is 1111 as a follows follow Col OWl I fV I J Cp t of ot f property 5 W r I V Improvements as t n follows olow plant IG Copperton r plant Mine surface improvements 1 Prepaid expense espouse ore ole account Outside Oute Investment nt ot cost Garfield Improvement Co 00 Water Wlter Co Accounts receivable V Sinking fund supplies Copper In transit I Bank balance The Tho Th are nrc Iro given ns a follows folos Capital stock First mortgage e convertible V stock Accounts payable Sinking fund not yet y c due IG A H S I n II Co treatment anti 1111 refining charges not yot ot duo tuo Duo to general treasurer Surplus derived from front sale II of or stock over par Balance Biec net earnings from fran V operation of if Copperton ox plant |
