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Denver, Colorado, June 2, 1916,
Denver, Dear Sir;
Confirming our conversation concerning the BachelofKhedi ve and Wedge properties located in Ouray County.
The Wedge property consits of about three claims, two of them lying upon what is known as the Bachelor-Khedive-Wedge veins, and the other known as The Florence C, is down the valley and does not cover anything of known value. This property was worked from the early 90's until about 1899 to 1900; was closed down as the result of a strike by the workmen and since that time has bean worked at different periods by lessees. It produced a largo amount of silver, the records of which are not now available on account of the death of the man who managed the property during the active period. There is, at the present time, what is estimated to be about 160,000 ounces of silver on the surface,
contained in a dump of about 20,000 tons of ore; some of this dump is known as "ore house dump" and will run between 18 to 20 ounces. The other portion is of lower grade, running from 6, to 16 ounces per ton. There is also contained in the old stope fills what has been variously estimated at from 20 to 50 thousand tons of material, which carries as far as it has been possible to sample, an average of something like 15 ounces silver
per ton; there is also some virgin ground below the Bachelor Tunnel level which is now being profitably worked by lessees; there is also a large area below this level which can be considered Of some potential importance.
The Bachelor-Khedive property consists of a number of claims, thrse of which lis on the Bachelor vein and cover in the neighborhood of 4,000 feet of the same; several million ounces of silver were produced from
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like 300,000 ounces of silver has been produced by lessees. The dumps on this property contain in my opinion between 300,000 and 350,000 ounces; several thousand tons will average from 8, to 20 ounces silver, and the remainder will run down to a few ounces. I consider all of it payable when properly handled. The fills in this property also contain large quantities of payable rock estimated at from 20 to 60 thousand tons, averaging above 15 ounces in silver. All of this in my opinion cannot be recovered, but a fair percentage is assured. Lying above what is know as Blacksmith level of the Bachelor property - this property also has much virgin ground and soma faces in u very good ore. The Khedive end of the mine has large pits of sulphide ores running from 15 to 20 ounces silver, 10f. to 12% lead, 12% to 15% zinc and some iron pyrites, which of course has never been a shipping grade of ore, and until recently it has not been possible to mill at a profit.
Taken all together, I estimate that this property has assured not less than 500,000 ounces of silver which can be produced and marketed at a cost of not to exceed 35 cents per ounce. Close to another 500,000 ounces of silver should be carried as a potential resource. The unexplored ground and unbroken ore will yield a considerable production, with large possibilities.
In connection with this enterprise, the El Mahdi should be considered as a probable source of a good tonnage of 20 to 30 ounce ore, which can be produced on a basis so as to yield a profit of $2. to #4, per ton. The Slide, ora Newsboy Mine, located in the immediate neighborhood has dumps and stcpe fills about 20,000 tons, which are easily recoverable and will yield more than 12
ounces silver.
The Black Girl is said to have 30,000 tons of ere blocked that will average more than 15 ounces silver. This ore is highly siliceous sjid carries only a grey silver mineral whidh floats ideally. The Leadville and Senorita and other small properties in the same neighborhood promise much in the way of tonnage of the same grade of ore as The Black Girl,
