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Show COTTONWOOD BONANZA MINE A SUCCESS Manager Tom Pritchard and Foreman Jim Yates of the Big Cottonwood Bonanza Mine, who are well-known in the Bingham mining district came down from thae mine this week with encouraging en-couraging reports and samples of some exceptionally . high-grade high-grade silver-lead bearing ores. Average samples of the , ore show that it will carry from 180 to 200 ouncs to the ton, 50 per cent copper. Picked samples show values as high as 300 ounces silver to the ton. Both by reason of the ore's richness as well as its resemblance to the mineral shipped from the historic his-toric bonanzas of the vicinity, the Prince of Wales and the Reed and Benson, officials of the company feel the work being don is fully justified. In order to finance the company com-pany without further assessments, assess-ments, capitalization has been increased from 500,000 shares to. 1,000,000 shares with a par value of 10 cents per share. Five hundred thousand shares have been put in the treasury. . and there still remains 20,000 shares on last permit to sell at 10 cents per share. ' ; Conditions in the south drift are gratifying. For forty feet a very soluble white limestone, showing Bilver-lead values, has been cut. The north drift is in fifty feet in an open fissure. The formation in the face of both drifts indicates that an ore-bearing fissure should be cut in a short distance. |
