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Show LIBRARY BUREAU Of 1600 E 1 SO, i HJiJU' M: iiM CITY it: vf i'i Vvjffy M1TAL CMPr Features Mining, Oil, Financial J Strike Seen DownWALLACE, Idaho ward extension of the Clayton Silver Mine's north ore body had been opened over a width levels of 23 feet on the 400-fo. with the face still in ore, W.M. Yeaman, company president, according to the Wallace , ot re-port- ed, Miner. ; Yeaman, in Wallace on business, said that crosscutting was continuing and that Norman Smith, company manager, had estimated the ore would show v about 45 feet of width at the point of intersection. ; The ore body was not en countered as soon as anticipated, he said, owing to the fact that the north, drift, which had been headed directly toward the footwall of the chimney type ore structure, had missed the vein. because of a variation in the contour of the ore body, making necessary a short east crosscut from the drift, which : hit the fooiwall side of the ore In about 20 feet. Grade of the new ore runs about 5' per cent lead and ounces of silver, roughly the same as that mined from the 6 level alcove, The new level is actually 100 : feet deeper than the one above and will provide that footage of backs for mining, Yeaman explained.' n The company's mill has been running steadily since the first of December, except for one shutdown, on ore mined from the south ore ' body, which was opened shorts g to the ly after the 400 level was completed last . , h-sa- 00-fo- ld - 1 100-to- : 12-ho- ur shaft-sinkin- . . July. The ore showing cut uneX- -' pectedly last October in the north drift was .fully developed recently wheh the north end was :tshut down for. eigh days to, drain down an accumu lationof water which reiniltec when the drift was advanced 162 feet in two weeks. This new ore body, which occurs about, half way, between the shaft and the ; north ore body, shows a length of 60 fee and a width of 20 feet A com- -: parable structure was not founc on the 300 level above. The Clayton ore bodies are not true veins such as those found in the Coeur d'Alene. The ore occurs in vertical chim--. neys in a limestone country rock and the deposits have fair ly regular sides and ends. The north and south bodies, being (Continued on Page. 2) - . . r " .. : - . . - - IwAl laiuhriw' ; fffS: tmmis ,4MMf nwii 1001 'mx- - mwr mu' (mm Wnttni piftft m AS IS 09711 7SXS Results of development work performed during 1949 at mineral properties located at Melrose, Mont., controlled by Commonwealth Lead Mining Company of Salt Lake City, was declared encouraging by officials of toe company in their annual report to stockholders. ' The development work consisted in sinking an incline shaft a distance of some 250 feet, in virgin ground at the Montana mine to explore possibilities of ore deposition in this area. The report gives the following of metals California's value in increase sold, With base metal production recording an explanation of the work, in adthe rate of substantial a also past activity during dition to explaining additional marked; up gold dredge operations boost and a and silver in and zinc mineral metal for gold Increased copper lead, and oil holdings of the year. prices firm: prices would not only be a big factor in accelerating mine activity in California but The face in the bottom of this other metal producing states as well. Shown above is one of California's gold dredges. shaft is broken up, has altered from a light colored lime to reddish brown with streaks and bunches of galena, and coming in the bottom and sides of the incline. Assays. of I picked samples run as high as 64 per cent lead. The value of the five metals silver, four per cent, and cop The course of this inclined in 1949 was $20,422,671, a one per, one per cent. shaft is along the foot wall of per cent increase over the value The average prices (prelimi- the Calvin bed, dipping to the of $20,294,093 in 1948. Of the west on an calculathi used for 1949) average grade of 38 nary Activity during the past year state total value in 1949, gold To no mineral iaing date degrees. outof the the values gross at properties controlled by Alta contributed 70 per cent, lead, ing fissures having been encounputs of the metals were: Gold, United Mines Company, located 16 per cent, zinc, nine per cent, $35 is tered it reasonable to assume anc ounce 1948 in per fine toe present mineralization that at Alta, Utah, were confined, for 1949; silver, $0,905 plus per is from a fissure on ahead of the Jn- 4948' mvJ.: 1949 the mo&t part, to performance of ? lipe;OriCS. 'Mining r face. Gur present workcopper, $0,217 per pound in presentare rehabilitation work, repairs to following the same 1949 and $0,197 in 1949; lead, ings Of sevFirst the Declares and making method buildings by which the original $0,179 per. pound .in 1948 and discoveries to Lake were 'made at the Salt test eral shipments $0,159 hi 1949; zinc, $0,133 per Commonwealth Mine. The Dividend presValley smelter. Development pound in 1948 and $0,128 in ent favorable indications which work was conducted entirely in A regular first quarter divi- 1949. have improved with every round ' GOLD the company's South Hecla dend of 25 cents per share was began at 240 feet of depth and information to 1949 Based the mine, according prelimi- disclose the same pattern of upon declared by directors of the esti- mineralization that led to toe include contained in the firm's annual Hecla figures which Mining Company at a nary ore formerly shipped mates year, output of report to stockholders. Excerpts meeting held in Spokane Mon- "naturalfor the sold from this.. mine. Therefore, as at premium gold" from this report follow; which Mr. contributed Hirst, the contractor, said: day. The disbursement, prices, placer mines Test shipments .of ore were will amount to $250,000, U should consider the pres"We pay approximately 61 per cent of ent indications the very favorable." latter part of able March 15 to stockholders the output and lode mines 39 made during UTAH OPHER PROPERTY cent. In 1948, placer mines 1949 from four places in the of record. February 25, and per lode 68 cent and contributed The United States Smelting per mine, amounting to 395 tons of will raise the of divi- mines 32 per cent Following grandtotal and Refining Company, dry ore. The gross metal content dends paid by the company to the pattern of recent years, owners of the Mining Hidden Treasure was. 8151 lbs.; Of copper, 78,374 bucket-lin- e dredges produced Mine, recently acquired, on a $33,155,000. lbs. of lead, 5416 oz. silver, the major part of 1949 placer substantial royalty basis, a has paid lbs. of zinc, and 11.7 oz. of The company, which leading producers' were working interest in the Mono 25 cents gold; Consolidated of dividend a quarterly cost which after the Gold Fields Mine adjoining our ground in of Yuba gold, of 1941, which first the. since quarter operated dredges in the Rush Valley mining district, smelting, refining,' selling, closed its Hecla mine at Burke in sampling, trucking, trucking Yuba, Butte and Siskiyou Coun(Continued on Page 2) federal taxes and federal taxes 1944, but has continued a profit- ties and the fleet dredges opersubits on the metal content, the com- able existence through ated by Natomas Co. in toe its principally interests, sidiary of the received ' sum' pany Folsom district,1 Sacramento $8210.46 for the copper, lead 50 per cent, ownership of the County. Dragline dredging was and gold recovered. No pay Sullivan. Mining Company, less active in 1949 than formerments were received for the zinc which owns and operates the ly, and hydraulic and drift in the ore. This ore also carries Star mine at Burke, Idahos top mines .were worked sporadiv considerable tungsten, bismuth, zinc producer, 'and the electro- cally only during the year.' New antimony .. and iron, for which lytic zihe plant west of Kellogg. developments during no payment was received. The The Sullivan Mining Company placer PORTABLE 1949 included Fairway Placers, cost of supplies, power, reha- now holds a controlling interest a bucket-lin- e near dredge bilitation of Dwyer Drain am in the Pend Oreille Mines and Minersville, Trinity and COMPRESSOR Metals Company in the Metaline Crescent Pacific .County Co. Transportation Tunnel, and Mining to $8416.31, and district of eastern Washington, on the middle fork Utahs state taxes paid in Utah said to contain the largest operation Yuba of the River, Nevada 105 Cu. Ft. Gardner Denver and Salt Lake County amounted known zinc deposit in the naBucket-lin- e redredges, County. tion today. tp. $686.83. V ; Has had very little use of Tuolumne Gold Shareholders received their spectively, Co. United owns the Alta all of in Stanislaus An Outstanding Buy property and property interests first disbursement from the Dredging Merced Dredging Co. of 35 old companies which were company, totaling $100,000, jus County, in Merced County, Lancha operating in the famous "Alta 50 years ago. Plana Gold Dredging Co. in Ore Zone" which is located 25 Butte and Sacramento Counties miles southeast of Salt Lake The city lad was visiting his and Thurman & Wright in SacCity,. Utah', many of which were cousin who lived on a western ramento County closed down large producers of highgrade di- cattle ranch. One day as they or make bid 1949. Leading lode mines rect smelting silver, lead, zinc, were corral during the toward walking in 1949 were Idaho 'Maryland copper and gold ore. There be- they heard a buzzing sound. Mines Corp. and Empire Star 210 claims aglode mining ing "Come away from there!" the Mines Co., Ltd. properties, o: acres Western Mineral gregating about 2500 cousin shouted. "Its a rattle lessee operated, in the largely mining ground. snake. If go near it, it wil Grass Valley-NevadisCity Development' as' of January strike!' you ' Surrey Other Nevada consists of County. nine tunnels trict, 1, 1950, "Gosh," said the city boy. "Do (Continued on Page 4) (Continued on Page 2) they have unions, too?" California Base Metal Output Posts n crease Alta United Makes Tests At Utah Mine 4 r lead-carbona- te - . -- , Meda ' - ; Quarter high-grad- e .. - 64,-5- 33 . . KSi&E , . - -- labor-- - amounted - - -- k thf m.i lXi Commonw'lth Gets Result In Montana Extension of -- IKS' S4.912I One Year $2.50 Salt Lake City, February 24, 1950 Vol. 21, No. 18. . Gold (par mu) Lead (pw Ik) Zim (par IkJ Silver (par aaj aw Riinad u. PRICKS ' . da Saattlt |