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Show GREAT EXCITEMENT IN MINING CIRCLES; BIG STRIKE AT BEAVER LAKE METALS One of the biggest excitements in Heaver County mining circles for many months was occasioned early in the week by the strike made at the lieaver Lake Metals mine, twelve miles north of Milford when the miners picked up on the 100 foot level the rich vein which had fault- ed on the 50 foot level. It will be recalled by readers of the News that last October, this mine shipped ore running around 55 per cent, load and 20 ounces of silver. Some samples even showed as high as 03 and one per cent lead. The exact magnitude of the new strike on the 100 foot level, and the real values found there can only he estimated at the hour Oils is written, but a party of mining men consisting of A. O. Nebeker, of the Leonora, I). A. McLease of the East Antelope and Managing Director Lew Merriman of the Heaver Lake Metals together with Harry Cushion, Traflic Agent of the Uio Grande R. R., went out to tho mine this (Thursday) morning. From samples brought in to Milford, however, it appears that the values have largely increased with depth and it is conservatively es- timated that the ore just encountered will show 75 to 80 per cent lead and as high as 100 ounces in silver, besides substantial copper values. It is thought that the stuff will go from $75 to $80 a ton. The strikle was made on the contact and all indications point to a big body. The ore which is found in the lime, shows heavily in steel-galena, a featuVe not encountered in previous operations. Some months ago a winze was sunk to a depth of 50 feet east of the main shaft and a drift started north-west to strike the contact. After going in for some distance on the vein, the latter suddenly faulted and shifted slightely to the south. Additional depth was at once undertaken to pick up the faulted vein in the winze and at an additional 50 feet as stilted, the lost vein was picked up and followed south another 50 feet to the contact. The company will now drift almost due east from the main shaft to inter- cept the contact which it is expected will be encountered at a depth of 200 feet. This will bring operations under the present strike. The Beaver Lake Metals is located in a highly mineralized section. It is in direct contact line with the Horn Silver and other big mines of that district. The mine is well equipped with modern machinery and out of debt and has an enviable future before it. News of the latest strike at Beaver Lake Metals caused an immediate rise in the market price of the stock and many local people "went after it." It is said one local man wired for 35,000 shares and others also sought to "get in on the ground floor." From one half cent the stock made a very decided ad- vance yesterday. The Merriman party, after spending yesterday at the mine, returned yesterday evening and reported that the strike was cer- tainly a rich one, though the exact extent of it cannot be determined ut this time. |
