Show H wa I 1 wi i rn i al asi 1 g M a tt i U el r S I 1 PARK SHAFT LIMESTONE LEEL pae the shaft being sunk jointly by the park nelson and park konold mining companies on the park konold property located in east park city Is now nearing its most interesting stage says saturdays deseret news the shaft Is nearing the loot foot mark which Is near the limestone beds b ads exposed in core drills at the property the drills showed consider considerable atil a a ti on who when n this horizon was tripped tapped the shaft a triple compartment bore Is being sunk in a fissure assure which showed some around the and levels during the past few feet however the fissure has dipped away from the shaft and a porphyry formation tonn atlon la Is now being penetrated progress of this shaft Is being watched with considerable interest as it Is being sunk in virgin territory and the results i will have a great deal of bearing I 1 on future development of a vast area are directly east of the park city mining I 1 region surrounding the park konold and park nelson Is the property of tho the park premier mining company controlling I 1 approximately acres which will I 1 benefit from the findings in the new rh shaft It all AH these there properties are under the control of the international smelting smelling Sm elting company which Is financing and directing the development work MAYFLOWER WILL CUT PARK GALENA VEINS AT DEPTH the park galena company Is producing from brom two to three cars of ore weekly the property Is located on the east sidel side of this district and the development has been carried on consistently tor for some time the present ore production haa been taken from the foot level ot of the tunnel and the ore body gives indications of being permanent A drift has been run on the foot level to develop the same ore body at that depth and the latest report from the company Is to the effect that they had entered the ore bearing limestone lime stone typical of the park city formations i an additional advantage possessed by the park galena is the fact that the oni mayflower tunnel which Is being run on I 1 an adjoining property when completed I 1 will cut the park galena formations i feet below the bottom of the present shaft bhatt end and Is expected to develop the ore oodles bodies at that depth this tunnel in i addition to the opening of the ore bod lea ies wal will provide economical drainage I 1 and transportation which Is an import nt factor in the costs of operating PROMISE SEEN IN ORE SHOWING AT THREE KINGS MINE steadily improving conditions at the kings consolidated mining com I 1 banys property in the park city dis brict were reported saturday by A L hurley president and general manager i work now Is progressing along a well defined fissure in the janney horizon he said the last feet of work he continued has been done along alone a bed ding some six to eight feet thick which la Is more or less mineralized carrying from six to eight ounces silver 3 to 4 per cent lead 60 to 80 cents gold and some copper this ore on the present metal market Is not profitable however it proves that the development work Is in a fertile area I 1 it Is expected that the fissure now being driven will intersect an east west fissure which will in all likelihood in 1 crease the values in the ore the work Is very encouraging due to the fact that the property has been prospected tor for a number of years with little or no ore resulting and it has been particularly encouraging for the lost jut six weeks the development work Is on a fissure which will traverse the lull full length of the three rings kings consolidated mining companas comp anys ground FUTURE OF MINING IS LOOKING BRIGHTER A hopeful future Is forecast tor for the mining industry which has suffered severely from the economic depression during the first part of 1930 says the dan denver mining record metals are more essential to industrial progress today than they have ever been the electric radio telephone and railroad industries to name but a few are virtually dependent on an adequate fair priced supply of base metals twenty years ago the mining industry was still in the throes of wild west conditions at present it Is operated on sound round economic principles that compare favorable with those of any other industry scientific discoveries and innovations of management have enabled it to make great progress the Indu principal problem la 19 too the a agitation gi tation for excessive tax rates and burdensome bluesky blue sky legislation to in several tates states it Is to be hoped that the people of of the west knowing that mining Is one ona of their principal employers and taxpayers will not be led astray by unfounded criticism of a great industry MINING AND THE HOME it Is an axiom that the progress of the mining industry la Is essential to the progress ot of almost all other industries the telephone radio railroad gas and electric and many more ot of our leading industries must have art an adequate dependable pen dable fair priced supply ot of the base metas modern homes likewise owe a debt to mining copper lead brass and other such metals are finding a steadily widening place in building construction preeminent among them is copper which due to long wearing qualities la Is being extensively employed for flash ings gutters down spouts and the like As aa a result the homebuilder home builder whether he be knows it or not has an interest in the mining industry its problems to a degree are his problems it min mining in 9 is over taxed or overly restricted and it if our metal supply la Is retarded homo home builders to a greater or lesser extent will pay for it this Is one mole moie illustration of the fact that mining in one way or another affects the fortunes and progress of all of us TO RESUME WORK AT NEW QUINCY al INCY NINE MINE PROPERTY ritO PERTY after a shut down of some thirty days operations at the new quincy mining company in the park city district will be resumed september with a vigorous campaign of development work it was announced saturday by A L hurley president and general manager says sundays telegram when the mine was shut down on july one ot of the headings on the bw foot level of the little bell pr property per was wag in highly mineralized territory territory with the ore values increasing every loot foot as S too the objective point some feet hand ahead was approached mr hurley said on the 1200 foot level of the now new quincy 8 older property close to the little bell line another fissure was cut just about the time the mine closed tills this fissure had from six inches to two feet of very high grade ore on the side along the bedding the fissure Is faulted down some fifty feet on the hanging wall so a crosscut will be driven from ono one of the old workings which should penetrate the faulted side bide of it on about a level with the crosscut there will only be about feet of crosscutting required this work Is being looked to with a great deal ot of interest A drift will be driven on the foot level of the little bell property along the strike of the main little bell fissure where about to feet of work will make an intersection with a big fault fissure showing on the level of the little bell and this heading Is the most important piece of development work which can be done however there are arc a number of other fissures on the property which will be prospected lust just as rapidly as possible all of the ore mined on the little bell property has been of very high grade and it any y of the prospects should develop a body of ore the company could do very well on present metal prices that Is at least until out of debt with this campaign of development wa work rk going on there Is a chance that a body of ore may be opened up at any time such a development would mean that some of the assessments previously announced as impending could be waived MINE N p speculation IS SAFER THAN GAMBLING A year ago the new york stock market was booming and stocks were mounting to higher and higher prices the public was being warned by interesting writers to not sell the united states short speculators tor for the advance were putting over their propaganda to keep the stock market pot boiling the insiders were unloading about this time last year while the public was being built up to buy the ballooned issues on the new york stock exchange brokers loans were at a very high figure and there was no one to warn the amateur margin traders that the stage was being sot set to give them the most stupendous trimming in the worlds financial history the self appointed guardians of the publics pocketbook were evidently in league with the market riggers they did not issue any warnings nor did they put out any bulletins to expose ex pose the dan dangers ers of the margin system the r sheep heep were lulled into false security and then the financial earthquake broke upon them the wideawake business man likes to speculate where he has a chance to succeed that Is the reason that western mining and oil shares are growing more man to 0 o develop a mine or drill an oil well does not let blue sky laws interfere with its his financial liberty margin calls are un known cnown in western mining and oil fields treasury shares in a prospect company are purchased and the money paid for the shares pays miners buys supplies and develops new wealth producers and dividend payers great profits are made by investors who help develop a prospect into a mine later the shares chares may be ae used as a football on the big exchange down east but the group of investors who put ut up the original money to develop the she mineral wealth have made their fortunes buy prospect mining and oil shares if you want a square speculation tor for profits denver mining record TUNNELS ENTER AREA the two long tunnels being driven in the east park city district by the chas moore interests the star of utah and the mayflower are rapidly entering a territory where important developments may be forthcoming at any time in th the next few months sayi says the salt la lake western mineral survey driving of the long star of utah bore has been stopped at a point between and feet from the portal and two crosscuts cross cuts started one a northeast and the other a southwest to reach the Nall driver and the wabash fissures in which good ore showings it Is said were opened up years ago but never intensively developed because of water at the mayflower the tunnel cut its ninth fissure at a point about 2000 feet from the portal during the last week A development of equal importance Is the entrance of the tunnel into the quartzite after cutting diorite tor for 1900 or more feet an assay made of samples taken from the quartz vein filling showed that it carried about 40 cents a ton in gold and 2 ounces in silver this fissure while not as wide as that cut at 1850 feet which measured 30 teet feet and brought in a river ot of water looks as aa it if it might have good possibilities at depth water has subsided and the company Is experiencing no more trouble with bad ground although the tunnel has to be timbered in a short time it Is believed the solid formation will be entered and timbering will be no longer necessary progress Is averaging six feet a day the last fissure assure cut has a northwest north west southeast south east strike which does not line up with the big one opened at 1850 feet STOCK STOC K S SALES AL E S FOR WEEK FRIDAY east utah 0 loe loc park city con 1 and silver king coalition new quincy 1300 5 ac 14 C park konold 1000 park premier lac park utah S TUESDAY new quincy 5 54 and ac east utah loc silver king coalition 7 45 WEDNESDAY new quincy 1700 sc park konold 0 park U utah tah 4 a 1 95 and 2 05 silver silva r king coalition and THURSDAY new quincy 5 and 5 12 C park city con 1000 park premier silver king coalition and SHIPMENTS park utah consolidated silver king coalition 1477 park city consolidated park galena total |