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Page: of 90
will open into something that will prove valuable as a
shipping quantity.
When a tunnel is driven on the vein it means less
dead work. Some of the ore taken out will pay to ship,
and that means just that much in favor of the proposition, for it brings it that much nearer the realm of the
self-supporting proposition.
“Do your work on a vein,” is a pretty good maxim
to follow in mining.
If you are an investor, and some one comes to you
with the statement that a company owning but one claim
could do nothing, you can say to him that if this company
has one good vein apexing the entire length of its claim, it
is in a position to output all the mineral it can handle for
the fext quarter of a century.
Great acreages do not count. ‘They are usually obtained in some section where property costs but little.
For instance, suppose a company comes to you with a
proposition showing that it has forty or fifty claims. If
these claims represent good veins, what must the property have cost? :
Asa rule, if you will look the matter up closely, by
making inquiry of the county clerk, and recorder in the
county in which they are situated, you will find that the
company or some man connected with the company, located them—this means that he acquired his first title
from the government at a cost of about $25 or $30 per
claim.
We have nothing against companies owning a large
acreage, and one could not consistently make the statement that they would not open blind leads that would become valuable. Asa rule, however, one proven claim for
which a high price is asked, would be worth more than 50
claims located by the promoter in a barren section, where
properties could be obtained simply by locating them.
a7