OCR Text |
Show EIGHTH WONDER Of THE MID Latest reports given the developed ores of the Ohio Copper property as 2fi.OUO,000 tons, the average value of which is 2. CIS per cent copper. Nothing Noth-ing is relied upi'n in drawing this conclusion con-clusion except rock actually demonstrated demon-strated by drill operations in thoroughly thor-oughly prospected areas, and does not include any of the various sections nf the property partially drilled or m-t vet thoroughly tried by drills in ac- . tordance with the eel policy of tho officials. When It comes to the tie up by actual drilling operations these partially developed areas, throwing the same then Into trie developed column col-umn the above tonnage can be Increased In-creased tremendously In a remarkably short llhe. Such showing Involves many inter- ' ing matteis for speculation. A simple mathematical calculation shows ; that this tonnage of me contains approximately ap-proximately 1, 5110,0011,000 pounds of copper. Assuming a recovery of 75 per cent of the, copper values of tho a saving which The grade of ore and generally favorable concentrating characteristics of the ore promise to make possible, at 12 1-2 cents per pound, the copper here is worth lo0,-ooo.ooo lo0,-ooo.ooo There is another property, the Ray Consolidated, which, 'with the Gila now within Us lines, contains over 70..XM.OO0 tons of ere, averaging 2.2 per cent copper, with but small portion por-tion of its ground prospected as yet. This tonnage holds over three and one-third billion pounds of copper. Allowing for a saving of 70 per cent, there are roughly two and one-third billion pounds of copper certain, valued valu-ed at about S-OO.OOuiOO. The point to be made Is simply this: Here are two propositions that have added to the world's demonstrated demon-strated wealth by about $ t'O.Ooo .mm, and all duriuc little less than three years' time. They were Uiken hold of by men certain that in the success of the Utah Copper company wns one of tho gieatest opportunities known to the uioderu-dav world. Utah point-oil point-oil the way. Threo years aco the name, Ray Consolidated, meant very little anywhere, while tiio word Chluo had not been thought of. Today they are almost universally termed the eighth wonder of the world. |