OCR Text |
Show Mat Is The Copper King ..i j Butte Miner Tells of property in Which Loganites Have Money. 'Heretofore, much has been said about the Copper King Mining Co.'s Montana pcopeity, but it . appears that even the half has not yet been told. Since the pro. posed absorption of this company com-pany by the Goose Lake Copper Company (a proposition which the Logan stockholders have protested pro-tested against)' big mining men tell sdlne wonderful stories of the vast mineral resources of the country in the vicinity of Cook City? and if these are true (of which there seems no doubt) some Logan people are destined 'to get big returns on their money-, providing they know how to hang on and are successful Hn doing it. The Butte Miner of recent date devotes two or ,three columns to the Cooke City field, and of the original Copper King property is particularly gloiwng in expression. expres-sion. It is impossible to present the article in full, but that portion por-tion referring to the Goose Lake Copper -company (including the Copper Kin) js of superior in-, in-, tere'ind js presented as follows, the whole being an expression of one McDowell, a mining expert now at the head of $5,000,000 of, St. Paul capital. The article fl reads : Greater Than Any. Mr. McDowell states , that he has visited most of the new copper cop-per camps of the wtst, but that lie never saw real copper prospects pros-pects until he Visited Cooke CUy. He says that it is hard for him to conceive how such wonderul values and enormous tonnages of high grade ore could have remained re-mained practically undeveloped within the, boundaries of the state for so mnny years, and he "predicts that before the expiration expira-tion of another year there will be Jjsuch a boom in that section that it will sprprise copper miners the world over. Baiin of Copper. x About fifteen miles northeast of Cooke City, slates Mr. McDowell,, Mc-Dowell,, in a separate' mountain range is the greatest showing of high grade sulphide copper ore which he over saw outside of a dividend paying mine. This deposit de-posit is on the top of Gooso Lake mountain, and in a basia containing about four hundred acres. Tho basin is 10,000 fcw I above tho level of tho sea, and Ins ( two lakes connected by a small " strenm. The lower lake emptier into tho Stillwater river. In the lower part of the bnsin, between tho two lakes, tho immense cop. per deposit exiits. The men who discovered the deposit have partially developed it by running two open cuts in the bottom of tile basin. One of the cuts is fifty f -et wido and six tfcet deep, and the other is twenty-five feet loiit,', running at right angles to the first. The entiro bottom of thesn cuts is in solid sulphide copper ore averaging lfotter than twelvo percent copper, cop-per, and carrying gold, silver and ' platinum in commercial quanti-' quanti-' ties. Immense Tonnage. Tho deposit is of such magni-tudo magni-tudo and so easily and economically economi-cally worked that four men could take out 1,000 tons of ore in a j we?!-:''' limo. The. property is Si practically a mine at the present time, and the only thing necessary neces-sary toward development is to block out the ore and prove up the tonnage. This property so well impressed impress-ed Mr. McDowell that, with his associates, W. E. Reynolds and Guy Stapleton, he has interested Continued on page 2. IT ' COPPER KING. Continued from first page some of the wealthiest men in St. Paul in tho proposition, and a company has been organized to take it over and develop it. The company is known as the Goose Lake Copper company, capitalized capitaliz-ed for $5,000,000. .The stock is very closely held and none of it is for sale. The necessary. working work-ing capital is to be furnished by the St. Paul syndicate, and operations oper-ations are to be commonccd at once. Considering the stringency stringen-cy of the money market at the present time, it is rather remarkable remark-able that a flotation of this magnitude mag-nitude could be made, and it is not probable that it could have been made except on account of the wonderful showing of ore. Broad Plans. Plans for the opening of the property on a. large scale hava been decided upon, and during the past week several carloads of machinery have been purchased an.d forwarded to the mine. Work will at once be commenced by sinking a shaft. If it is found, that the oro continues with depth and the geological formation confirms con-firms the belief, the ground will be explored by means of a diamond dia-mond drill at a depth of 100 foot, to determine the character and extent of the ore bodies at a depth of 500 or GOO feet. With the ground proved to be mineralized at the latter depth, and the water not. coming in in excessive quantities, a lait;i r plant will undoubtedly be installed in-stalled and the shaft will be carried car-ried to the 500 or COO foot, level. However, with the character of the ground determined, and proving prov-ing that thp ore deposits exist at jlepth, n tunnel .will be run into the mountain lower down, giving u vertical depth of about 2,000 feet. Similar to Butte. The formation surrounding the property of the Goose Lake Copper Cop-per company is Kninite, similar in character to that f the Butte district. If the ore which shows in tlio surface outcoppirgs an I in the cuts which have been inn le continues with depth, the company com-pany undoubtedly has one of fh" greatest copper depoaits discovered discov-ered in recent years. The plans of the company In elude a smelier and iownsite, to be located at the mouth of the lower tunnel, which will be near tlio level of the banks of the Stillwater Still-water river. From tho toivnsite to Columbus, on tho Noithern Pacific railroad, there is a fairly lovel grade, and this will he utilized util-ized for the building of nn electric elec-tric railroad running from Columbus Co-lumbus to the mine ar.l into Cooke City. 4 i . |