Show I HAVE HA VE GREATEST fREA TEST FAITH IN LOWER VER MAMMOTH President and Superintendent Tell Tel of New v Work Bein Being Being Be Be- in ing j Done IS ON or MAMMOTH DIKE Better Beter Things Were in Sight When Sinking Was Started Stared Annual report of ot President John Dern and Superintendent E. E C. C Coffin of or the Lower Mammoth Mining compan company com corn pan pany mado made public yesterday In Interesting interesting In- In details concerning the work done durin during the year I OS and In progress pro pro- gress grees at this time Ume Mr 11 Dern explains s that tho company compan had for tor several 1 years ears had under consideration the advisability advisability ad ad- of ot enlarging enlarging and Ing I Its main shaft shaH and sinking It to tho the foot toot level ol In iii tho Interest of ot economy In handling ore oro and to fa facilitate fa- fa further exploration In the lower levels and that a cavo cave on Nov Nov 30 In the bl big stops between the 1600 and 1700 levels brought tho the decision 1 to start starl the work at once As As- Asno no ore can bo be mined while this s work is going on on the tho to company is com corn compelled Polled to levy assessments to defray deray tho expense It I i Is hoped that four as assessments as as- of or live cents a a share sharo each will wil bo sufficient and that the shaft will wil be completed within ton months The mine Is equipped with now new hoistIng hoistIng hoisting hoist hoist- ing equipment capable of sinking to tho 2500 COO level 1001 at least Superintendent Coffin said yesterday yesterday yester yester- day that tho the work of enlarging tho shaft to three compartment had been completed to the tho GOO level an and that from this time on pro progress res would be bo moro rapid down to the tho 1200 on account account account ac ac- ac- ac count of ot tho opportunity to dump waste material Into tho the old workings I In n his report to stockholders th the I Superintendent says In part Found Following Folo tho the general Instructions of Mr lr Dern the tho to north drifts on the COO 1500 and 1700 levels were extended and raising oro from tho the stops slope below be be- low ow the tho 1700 was as continued On tho the night of or the of November Novem- Novem No cm ber er the tho to above tho the 1700 came in In shutting hutting us out of ot the below tho the hovel lovel and the drift on tho the north Wo We lad had hal do dope e sufficient work vork In the tho ore below be bo- low ow the 1700 to demonstrate that Inthis in inthis this his bod body of or ore the tho company compan has a aIno atine 9 tine Ino resource that can cn be reached reachel and taken akon out at a a. very low cost when hen tho the main shaft is down to the ho 1800 level 10 At t tho the time of oC stopping stop atop ping work orle on the north 1500 tho leading heading was feet north or Ot oE the cut roes and tOO feat from rom a n point where the main shaft will willo 1 go o down I consider that we wo e have havo hae a aIno aline ano line Ino no prospect of ot getting ore oro on that level evol before wo we pass north of or tho the shaft haft shat as the is strong shong with a a. filling of low grade ore where work was vas die discontinued On the tho west vest est fissure north drift on the tho ho 1100 leasers had opened up below be- be low Jow ow the tho th level about feet south Bouth of ot the tho main shaft what appeared to be a avery avery very fine body of ot shipping ore oro t Ten Tenons I tons ons had hae beon been taken out when the tho order to enlarge the shaft shat stopped the tho work Directly under this oro ore allowing allowing allow allow- alow- alow Ing ing for tor the rake and dip of tho the vein two wo days days before wo we were wore cut off of from he time north drift on the tho 1700 the miners broke into six feet of ot shipping ore oro This his fInd was In the tho extreme mo north end ond of f the drift and looked very good although although al- al though hough we had hae no opportunity to ex- ex photo lore ft It 1 Leasers had had been working on n the tho 1000 east cast vein and had worlen taken ken out ut s several seral eral tons of or very cry good ore running running run- run ning Ing as high as fourteen per cent cop cop- I per er This work was stopped when the enlargement of ot the tha shaft shat was begun All Al 11 of t these thesa resources can be worked when hen th tho main shaft I Is down at a really greatly reaty reduced cost and should produce produce pro- pro duce generously In Zon Zone Between tho the 1100 and 1800 levels a change chango In the character of the ore has hns taken taleen place namely from an oxIde oxide ox- ox Ide de to a sulphide Where horo we e entered and nd eX explored ored tho vein on tho the 1800 this his change chango Is 18 not complete and we wend find nd tho tIme oxidized ores oros associated wits wll Wt or r near tho the sulphide Somo Some very fine ore oro re shows hos on tho level carrying high lead ead and very good silver values with siver wih I the ho usual value in gold Jol but the mass ot of f tho the oro shows distinct Impoverishment Impoverish Impoverish- mont lent as compared with the ores on ot I the he 1700 It I Is a a. a fact tact that in the development ot of f the great producing mines to the north orth of ot the Lower Mammoth ammoth even en e discouragement was felt by the rel owners when correspondIng correspond- correspond Ing ng levels on thes mines an and nd that when tho to workings had passed definitely below the tho oxidized zone one and Into Into- the sulphide the enrichment enrich enrich- mont ment appeared at once and and tho the average average average aver aver- age value in the tho ores Is higher than at any time before The great limo lime dike dilce known as as the Mammoth dike lUke dlee and which all al authorities agree offered ho tho opportunity for the tho remarkable ore bodies o of this chain of ot mines to grow row or form torm and In lU a a way controls the location of or these ore oro deposits Is found In n o er every cut cross on every o level lo cl In tho ho Lower Mammoth I whore where tho the work has as been carried out to Its course courso On the tho surface it is easily traced trace far tar south of ot tho the Lower Lov Mammoth end ond lines and aT to tho the north beyond our end lines directly into tho the Old Mammoth thence Into the tho Grand Central Cen- Cen Eureka tennial-Eureka Gemini etc otc l Enrichment nt nelon In other words we have havo the tho same great break In which the oro ore makes saro In the he mines named Wo Yo wore the tho first to o reach reach the depth where tho the change frt from tho the oxide to tho the sulphide zone oc 00 oo- oo curree and find time the tie Impoverishment Impo In the vein It I follows that when we got rul fully out of or tho the oxide Into tho the sul sul- ul- ul t territory we wo may confidently expect to have havo tho the splendid enrichment enrich enrich- ment now shown on tho time lower levels of at tho Gemini Eureka Centennial Eureka Centennial 10 and Old Od Jn la h- h Nowhere r ri i In the Tintic district haa has a mine 6 located 1 on the tho great Mammoth dike diko Ilke failed to produce This may be ne news s to many but It IB is nevertheless moy true truo No lead on this break In ln forty years years' work has over eer been lost worked work work- ed out of or failed of ot continued production tion ton of or profitable ores ores Tho The report of or A. A Hee c Reeves secretary ecret ah shows owe ry Receipt lp Treasury stock sa Ore eales sales tons S 11 Assessment No IS 18 General Expense 77 Supplies 1610 Total Total I UI nf Supplies labor etc 72 Dec 31 31 1008 cash on hand hand I. I Jan 1 1 1903 1908 overdraft 8 T Total tal At tho the meeting of or directors held yesterday an of live cents a share sharo was levied levied which becomes Ivo d de de- de March arch 17 17 salo sale day April Apri 2 2 |