OCR Text |
Show ONTARIO FINDS NEW ORE BODIES Recent Work Has Bared, Sources of Additional Wealth at Park City Important exploration work irrjed on In the famous Ontario mine at Park Cltp In the past your has bared new sources of wealth and new re-ervolrs re-ervolrs of ore in 'he property, add-i add-i Ing greatly to If already strongly 09-! 09-! tabllshOd praatiga In the Utah mlnlns field The work which has attracted tho most attention Is that which was done on the 2,tHift-rooi level, th deepest in tho mine It lias been extenaivo ! enough to reveal valuable ore deposits, depos-its, fully as Important ns thoe. on the upper levels. Diamond drilling is also being carried on from the 2.00'-fo.t e el to explore tho ground at still greater depth. In the upper levels drifts are belnw' sent out to explore the eastern part i of the company's property, Some! work, which win be continued 's conditions warrant, hns been done to j explore the ground east of the gi" 11 fault which traverses the property and beyond which i-.o prospecting has heretofore been done. The eastern extension ex-tension of the Ontorlo fissure is also being prospected. On 'the 1200 level In this purt of the proporty good oro was opened, according to old reports of the company, but the ore was not mined on account of excessive volume vol-ume of water which hindered operations. opera-tions. The extension of the Ontario fissure has been found on the 13iin level and strong mineralisation with bunches of good ore has been found. ENOUGH I Hf Mill, In addition to the first class shipping ship-ping ore that has been found in new development oi)( Mere is n large tonnage of good grade milling pre developed on the 1700 level that Is o.' sufficient quantltv to warrant a .mill. A number of mill tests on this oro have been conducted and good results re-sults Obtained so that the ore Is. a valuable (sot for the future. The exploration work hus established estab-lished the fact that the Ontario yet has a large area of ground from which there will be profitable oro production that will materially SjWOll the total of wealth taken from the noted property, 'ipened In 1872, the mine to date has paid total or $11 -K.T.jOii in dividends from i production produc-tion of approximately $33,000.0011 worth of ore. it is interesting to note that $13,000,000 was paid In dividends divi-dends tromt he firpt $33.000 000 oi ore produced from thee mine, which Is Indicative of the high grade ch u SjCter of the ore produced. In uddition to the mine the company com-pany owns four-sevenths of the Weber We-ber Coal company, one-third lnterc' In the Nalldrlver mine, 100,000 shares of the Keystone Mining company com-pany 7.1.000 shares ef the New Quihoy Mining company. 1,000 shares o. Kcnn. ' oi' i 'opper company and a OUO'third Interest in the Silver Lake Water company, according to its laM annual report, which also showed cash and bonds on hand totaling 1466(66.11, giving it an unusually strong financial position The company Is Incorporated for loo.ooo shares. .). IS. Bamberger ss president! D. M. Hyinan, vice president, presi-dent, Ernest Bamberger, treasurer and general manager: Herbert Colter, secretary, and J. L. Tllton. aslstan" secretary. N. A. Dunyon is general superintendent. |