Bonanza Mountain and Its Treasures of Golden Wealth PART 1Source: Desert Evening News - Salt Lake City, UT
Date Published: 1905-12-16
Bonanza Mountain and Its Treasures of Golden Wealth
The Waterloo Group.
This group has four claims, lying on Bonanza mountain, north of the Peerless and adjoining the Great Eastern on the west. Several large ledges with values from $8 to $14 per ton. Only enough work has been done so far to patent the claims but as the ledges are the same that run through the Denver, Eclipse and others, their future is pretty well assured.
The Golden Scepter.
Adjoining the Eclipse on the east, the Gibraltar on the north and the Great Eastern on the south, and lying on the east slope of Bonanza mountain few properties in the Bullfrog district are better situated than the Golden Scepter. The group embraces 13 claims and was acquired by J C McCormack from 17 different owners. It should carry the extension of the Tramp ledges for 1,400 feet, and the Hobo ledge for 4,500 feet. A cross-cut tunnel is now being run which will tap the Tramp ledges at a depth of 250 feet. This first should be reached about the middle of January.
A tunnel site has been selected and a tunnel started to cut Bonanza mountain for a distance of 3,000 feet.
Reference to the relief map of the Bullfrog district given above will show that the Gibraltar Mines Syndicate's property is favorably situated on the south end of Bonanza mountain. Except for about 600 feet, the width of one of the Tramp claims, the Gibraltar owns all the ground shown on the map. It has with its boundaries for a greater or lesser distance every ledge that courses through the now famous mountain. The company's holdings embrace the Equitable group, the Morris and Phillips group and the Comet, Ugly Duckling and Early Bird claims, altogether seven claims and three fractions.
The Gibraltar Mines Syndicate was organized June 1, with W V Rice of Salt Lake as president; J H Shockley, vice president; W H Clark, secretary, and R L Mayfield of Shreveport, La., and James Farrell of Salt Lake, the additional directors. It is capitalized for $1,500,000 in shares of the par value of $1 each with 500,000 shares in the treasury. The company is one of the strongest operating in the Bullfrog district and the men behind it are a guarantee that only legitimate mining will be done. The work done by the company thus far shows that it intends to get something for the money expended. The management, after incorporation immediately started three tunnels, two to cut the ledges in the western portion of the claims and one main tunnel to cross-cut all of the six ledges east of the Tramp claim. This main tunnel will give 500 feet depth on vein No. 6, tunnel No. 2, gives 100 feet depth on the vein which is four feet wide and when recently cut proved to be of high grade shipping ore. An ore house is now being built to receive this ore and have it sorted for market. Some assays went as high as $2,800 while a small streak on the hanging wall averaged $1,980. Tunnel No. 3 follows one of the ledges into the hill and a portion of it has yielded several tons of ore averaging $500 of gold and 80 to 90 ounces of silver. These veins all carry the manganese ore characteristic of Bonanza mountain, and the walls are smooth and well defined, giving every evidence of the veins being deep seated fissures.
While the management started the work with the belief that it would develop immense bodies of milling ores, it has been happily surprised with the several discoveries of shipping ore and is now confidently expecting that when the main or lower tunnel cuts the ledges secretly exposed in the upper tunnels, there will be enough high grade ore in sight to guarantee dividends at no distant date.
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Submitted: 12/27/09 (Edited 01/08/10)