Show I 1 park city U n consolidated C 1 I 1 k mines lines company 4 i i wednesday of this week in company irith in JJ beeson the well known min bg g g geologist of salt lake city and one rf th the incorporators and principal own 1 as ot of the park city consolidated mines kompany pan the record reporter visited ahls Is property upon which active op rations eions has just u st commenced comen ced under the action of charles W evans evang an ex erien ced mining operator ot of salt lake I 1 city the site elte of ope operations ratto ns Is at the roo tevelt elt tunnel head of deer valley turee three barters arters uart ers of e ft mile only from park city ere temporary quarters have been pro aided ed tor for the workmen foundations tor for i be e compressor house and machine machin e chop inder der cons construction t ruction and with full i mining g equipment quip ment menta already on the ground k the e preliminary work will be com feted as soon as possible for aggressive envelopment on a group of mineral caring claims that is destined to make ew BW mining history tor for park city and ath ill decidedly promising prospects of ding another producer and dividend layer yer to our list within the next year or so 0 i the site of operations for this new property iro perty Is an ideal one with already good auto road from the head of deer saley alley leading right to the mouth of the linnel where work will be prosecuted nd within a very short distance from he 0 spur of the U P railroad that goes i the ontario loading station an easy alk ik from park pity for the miners th i the right already granted lor for water atles connected direct with the park water system with electric power idy ady contracted for lighting purposes the running of mine machinery th i ample dumping room on tooth both sides the tie mountain ridge that divides sum it and wasatch counties all ali the mine dings clings haulage etc however wilt will III be m 1 the summit side which will mean great reat deal for park city when work is under tull full headway because of the ose B proximity of the workings the be mining equipment Is already on I 1 a ground and will be installed in operation within the next three our weeks consists of an ingersoll d air compressor capacity cubic feet a h p general elec motor with short wit belt drive three k w step down transformers 11 1 to volt with all necessary biec elec al fittings wire etc also an inger rand drill sharpener drill press 1 th h small tools air drills and every ing ng pertaining to equipment of this arreter incorporated for shares brough ugh the kindness of mr beeson e record Is permitted to give facts berning this new incorporation which taken from a complete and detailed made by that gentleman tie a park city consolidated mines com corp orated tor for shares of a value of ten cents each of the total es ten per cent or shares be retained by the organizers as sensation pens Pensa atlon tion for their work in securing securing 9 ons on the properties included in companas comp anys holdings these shares be placed in a pool tor for two years ng the financing of the principal laign of development work or up he be time when the treasury has dis d of shares at 20 cents or net to the treasury i addition to the above shares there it be shares of treasury stock ten en cents a share which will be deed red to those who have bave raised tor for the initial cash payments on tons ons and for certain expenses coned with the incorporation of the pany this stock will be placed in pool ml under the same terms and conns ions as the above organization stock the tie present plan Is to offer for sub aptton alon locally or in new york I 1 I 1 res es which will net the company 20 ants a a share or with the cama of development work now com plated this amount of money should I 1 e care of the cost of equipment and sting rating expenses for the next two rs during this period there are no illonal payments to be made on the bertles under option and with inive well planned development work re e Is 18 a very good chance of discover important ore bodies 0 properties about out eight years ago mr beeson was acted to this particular part of the rk city district because it was quite parent rent that certain geological condl ins would mike make exploration for silver silve ill ore deposits in the properties under aeration very attractive this was the original park utah mine had covered vered its first commercial ore body n since that time not only mr beeson W representatives of a number of the irge 0 mines in the district and some of f smelting smelling sm elting companies have tried to acure re options on the ground now con auml ed by the park city mines Con consolla company until recently all et ef 1 ate to acquire the different properties ly consolidate them had been hunsuc aada ful during the last two or three it the hs however this has been accod ed fa in the selection of the properties now TOt t rolled ailed by the park city consolidated ta Is company careful consideration been given to the commercial aspects the metal production of utah and its I 1 aaion to the structural geology I 1 mines in P higham bingham park city central ore zone ng at the eastern end of the I 1 ark rk city district and extending to the tern end ot of the bingham district a ainoo ol of lorty forty miles the most im mines located largely within the park city central ore zone are arc follows ol lows park city consolidated mines wrany undeveloped park utah which Is the result ot of a of the ontario daly daly dge daly west and other properties ver xing king coalition which now owns ay iy properties operated as individual es s in n the past keystone and also ther her properties ro artles in various stages ot of carh city Y mining alining district where the bingham park city central one passes through the park city ming district there Is a z zone on e ot of intense ring and mine z e t lon within alch h some borne ot of the great mines ot of the have been in continuous opere I 1 ron 11 for or the past forty or fifty years we re the n mining district is situated in depressed portion ot of a 06 tilted moun ln A block where erosion has baa not beef been t in ill fact act irom from the presence of the va it flows aws in the eastern end of the dla dis occupying a large area farther east cast T it appears that erosion has been jutt just sufficient to remove the lava flows fro m the larger part of the park city d district s H here re the rock pressure has not been grest great and three has been a free circulation of the mineralizing mineral izing solutions along fissures the result has been the formation of great ore deposits the fact that the property of the park city consolidated mines company lies entirely within the bingham park city central ore zone Is of utmost importance in the development of its holdings because it gives much greater promise to the possibility of finding of 0 large commercial nier cial deposits I 1 location of 0 property the e property of the palk paik city consolidated s soli dated d mines company Is located in the east end of the park city mining region in the uintah and blue ledge mining districts the property itself lies about a mile east of park city and parallels the Ontario drain tunnel tor for about feet the southern boundary being approximately 1000 feet north and parallel to the drain tunnel along the western nd end e of f the property has a width of almost a mile it Is ft a noteworthy tact fact that the property of the park utah consolidated mines company extends entirely along the southern boundary and cross across the western end of the park city consolidated mines company and the original park utah ore body lies iles only about 2500 teet feet south of its southern boundary I 1 claims claim area ownership titles the st louis ontario group which Is now part of the park city consolidated holdings consists of nine claims with a total acreage of acres the east ontario consists of nine claims embracing acres the above eighteen claims have been patented for many years the purchase price Is payments extending over five years the roosevelt group consists of five claims four patented one covering approximately acres including also surface rights in a plot of ground of 3 acres making a gland total of acres the purchase price Is payments covering a period of dye years the park city consolidated group consists of eight patented claims embracing an acreage of 85 acres the purchase I 1 price Is covering a live year period making the total area now controlled by the park city consolidated mines company of acres the purchased price of all claims the first payment of on each of the above groups have been made the reason why wh the question may naturally arise in the minds of those who are experienced in mining as to why the ground owned an and d controlled bythe by the park city consolidated ao soli has not already been fully explored and ore bodies if any found and developed the answer to this Is that where the principle mining operations operations have been carried on they have been in shafts and tunnels in the hhaynes formation high above the underlying park city limestone which Is the most favorable ore horizon of the district where the park city limestone actually outcrops on the surf surface ace the upper measures have been explored by a few small cuts and tunnels which have shown the presence of fissures one of which Is mineralized with vein quartz inasmuch as the most favorable ore horizon of this formation Is within 75 to feet of the base and this part has received almost no development work it still remains to be prospected where the lower beds of the park city formation should be exposed on the east side of the deer valley meadow the toot foot of the mountain Is covered by a thick deposit of alluvial material A number of small tunnels have been driven into the mountain most of these go in tor for over feet in surface wash and the park city limestone has lust just been encountered practically no development work has been done on it even here there is some question as to whether the tunnels were in the vicinity of mineralizing mineral izing fissures or as to whether they were in the proper ore horizons so this leaves the most favorable ore horizon st still ill unexplored this Is the work that will tie be the main objective ot of the immediate development work to be carried on by the park city consolidated present development planned the development work planned has tor for its principle objective the prospecting ol of the ore horizon in the park city limestone formation the present plan Is to extend the roosevelt tunnel tor for about feet easterly beyond its present face into the park city limestone at this position the tunnel win will p probably be in the neighborhood of or feet above the bottom of the park city limestone so a shaft will be sunk near the face of the tunnel until it has gone well into the underlying weber quartzite then crosscuts cross cuts will be started to the north and the south to intersect northeast fissures when fissures are encountered a drift will be started on the fissure and continued into the bottom beds of the park city limestone to prospect for ore bodies which may be formed where certain limestone beddings are intersected by the fissures it if ore la is discovered on one level the shaft win will be sunk sank still deeper and drifts will be extended to cut the continuation of these ore bodies at greater depth inasmuch as the broder proper ty has a width on oil the end ot of about feet and there are ft a number of fissures exposed on the surface the development work planned should be comparatively ively simple because from present indications there are no large faults to be encountered conclusions by geologist beeson from a consideration of the informs tion lon set forth and s a general knowle knowledge dg I 1 of the park city and other mining districts in utah I 1 believe the property of the park city consolidated mines company hat has exceptional merit up to to the end of 1926 park city mining ieng district according to records of the department of commerce show actual dividends of 00 during the year 1927 the park utah consolidated mines company paid a total of 55 in dividends which brought the total dividends on all the properties owned by this company up to the silver king coalition during the year 1927 paid dividends amounting to bringing the total dividends paid by the properties owned by this company to these amounts emphasize the importance of the actual dividends paid in the park city district by the principal mines so in mining re ining operation which contemplates the development of well located ground with geological conditions si millar to those existing in the silver king coalition mine there Is certainly ample reason lor for expending a considerable sum of money in thoroughly prospecting this territory As a successful outcome of this adventure we hold forth the possibilities or of a dividend paying mine in operation lor for many years to come the proximity of the park city consolidated soli dated property to the park property Is also a decided advantage in its favor the faculties facilities are excellent in in the event that ore bodies are dIscovered they can be ba mined and shipped to the smelt ers era at a good profit it must be c learly clearly understood that to date the tha prop properties ertler controlled by the park city consolidated have not produced any ore and no ore bodies have actually been found but as already explained in my report the most favorable places from a geologic standpoint have not yet been prospected and there Is every reason to believe that ore bodies may be found when this work Is done in the sale of stock in the park city consolidated mines company it should only be represented as a mining speculation it Is not an investment but for those who are able financially to make a speculation I 1 believe there Is s an excellent speculative value to the stock and it Is seldom that stock in a property ot of such merit is offered to the general public with the best of mines or mining prospects if the men in the organization are not responsible and capable of 0 directing the mining operations there Is little chance he of 0 success suc ceas in the organization of 0 the 9 part park city consolidated men ot of unquestionable integrity and ability have been selected for the board ot of directors some of these men have have much experience peri per ence lence in raining mining while others have had successful careers in other lines of business so the organization Is exceptionally good the incorporators of the park city consolidated mines company are arc george IV y dern J J beeson norman N alyc J D stack of salt lake city utah J H devine charles H borton J L chadwick H M rows rowe and R B porter of ogden utah editors note the foregoing Is but a synopsis of the elaborate report of mr J J beeson which not only goes in ex geologic details of the holdings jot of hla his company but Is also replete with maps drawings and photographs 1 |