Page(s) missing from the Library Collection
�be :JSutterft)2 mine
c A R D
THIS description of the Butterfly Mine is not issued for the purpose of selling treasury stock, but pre- sents in condensed form a number of cuts, maps, reports, circulars, etc., which have been sent out from time to time since the mine was bought, and is issued in response to requests from stockholders and others for a compre- hensive and authentic statement of operations to date.
The Company has no stock to offer for sale at any price.
The BUTTERFLY-TERRIBLE
GOLD MINING COMPANY
Postoffice Address
AMES San Miguel Co.
Colorado
Denver Office CALIFORNIA
BUILDING
Incorporated under the Laws of the State of Colorado
MINES AND MILL, OPHIR, COLORADO
CAPITAL STOCK, $1,500,000 Shares, Par Value, $1.00 Each, Full Paid and Non-Assessable
46,269 Shares in Treasury
Direftors Officers
DENVF.R, COLO.
PHILADELPHIA, PA.
COLORADO SPIlHWS, COLO.
DENVER, COLO.
DENVI:R, COLO.
PRESIllENT VICE-PRESIDENT.
SECRETARY ANDTREASUIlEIl GENERAL MANAGER SUPERINTENDENT ATTORNEY
CALVIN BULLOCK JOSEPH H.READING
FRANCiS J.HOBBS
D. T.SAYER
JAMES F. KEATING
. E. D.UPHAM
CALVIN BULLOCK
JOSEPH H.READING FRANCIS J.HOBBS
E. D.UPHAM
D.J.SAYER.
TRANSFER OFFICES, DENVER AND COLORADO SPRINGS
Stock registered by The International Trust Co" of Denver, and The Colorado Title and Trust Co., of Colorado Springs
BANKERS
THE INTERNATIONAL TRUST CO., DENVER
THES"","""~OOKS PTG. co., DENvER.
Telegraphic Address
01'HIR STATION
Colorado
Colorado Springs Office HAGERMAN
BLOCK
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Li THE BUTTERFLY MINE I
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LOCATION. The mine is situated one mile from Ophir Station.
San Miguel County, Colorado, on the main liue of the Rio Grande Southern Railroad, which runs within 150 feet of the office, and is connected with the mill by a switch.
THE PROPERTY consists of eight patented claims, ahout 70 acres altogetber, forming a compact group one mile in length, lengthwise of the veins.
EQUIPMENT consists of a fine modern 30-stamp mill huilt by Fraser ,.\''-Chalmers, with a capacity of 100 tons of ore per day; an Otto aerial tramway, 1,300 feet long; ore bouses, boarding house, su- perintendent's house, bunk bouse, stables, powder house, blacksmith shop, assay office, etc., all in first class condition.
The mill is driven by water-power furnished by a six-foot Pelton wheel, developing ample power except during the winter months.
A. new steam plant (65-horsepower Atlas automatic engine and 75-horsepower hoiler) has just been added to the mill, to enable it to run at full capacity the year around.
The mine is also equipped with a fine Rand compressor, Rand drills, and heavy lngersoll-Sergeant machine drills. The crusher, of the Comet pattern, manufactured by Fraser & Chalmers, has a ca- pacity of 200 tons of are pel' day. This is in the are house at the mouth of No. 3 'runnel, and is equipped with a new 25-horsepower engine and boiler. 'I'he tramway has a capacity of 200 tons per day.
This was recently furnished with a new cable, and the equipment in both mine and mill is first-class in every detail.
'I'he water-power is supplied from the Lake Fork and Wilson Creek through abont two miles of flume and 1,000 feet of seven-inch iron pipe.
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I'j)
The mill is equipped with three hatteries of ten stamps each, weight 1,050 pounds, rapid drop. There are nine six-foot Frue van- ners, or concentrating tables. A shed has been recently built over the track alongside the mill, allowing the concentrates to be wheeled under cover directly into the freight cars, so that the railroad can almost be said to come inside the mill. The surface improvements represent an expenditure of from $75,000 to $100,000.
DEVELOPMENT consists of over two miles of underground workings, while the property is operated entirely by tunnels, which avoids all hoisting and pumping-an item which makes a great dif- ference in the cost of operations. 'I'he property is opened by three tunnels.
NO. 1 TUNNEL is driven for 2,000 feet on the Butterfly vein, to a point where a cross-cut is run south to the Ida vein; thence a tunnel is run on the Ida vein 500 feet, clear to the end lines of the group.
This tunnel is 798 feet below the apex of the Ida veiu.
NO.2 TUNNEL, on the Buckeye vein, runs 1,000 feet into the mountain, and some ore has. been stoped from this level; bnt, as the stope is close to the snrface, the ore shoot is not continuous, as it is on the Ida vein much farther into the mountain.
NO. 3 TUNNEL, just back of the ore house, runs into the moun- tain for 1,000 feet on the Buckeye vein; thence a cross-cut is run 285 feet south to the Ida vein, and from this point the tunnel has been run straight into the mountain to cut the continuation of the rich ore shoot opened in No.1 Tunnel.
THE MAIN ORE SHOOT, 500 FEET IN LENGTH, along No. 1 Tunnel on the Ida vein, has produced about $225,000 in gold from this stope alone. This is tbe strongest and richest gold vein in this
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THE BUTTERFLY-TERRIBLE GROUP
These claims lie lengthwise of the Butterfly-Terrible, Buckeye and Ida veins, which are the only ones in the entire group on which any work has yet been done, as a large portion of the group is still unpros- pected. These lie directly along the western slope of Yellow Mountain and immediately adjoin the Sunshine Group on the west, and the Silver Bell (now owned by the Ophir Consolidated) on the east.
All the main veins in these properties lie parallel to the mountain itself. An almost straight line drawn from the slope of Sunshine Mountain to the eastern extremity of Yellow Mountain, where it joins the main range, would take in the Sunshine, Butterfly, Ophir Consolidated, Carribeau, and Dead-
wood-Nevada Mines.
The cut on the second page shows the wonderful natural situation of the mine for mining and milling are at a very low figure, with its three tunnels, rising one above another, the gravity tramway connect- ing the mine with the mill, and the mill itself directly on the railroad.
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part of the mountain, and, aside from its heavy production in this one stope in Butterfly ground, it is also being worked by The Ophir Consolidated Oompany in the adjoining claims.
ANOTHER CROSS-CUT is run from the Butterfly 'funnel to the north, to connect with the shaft on the Terrible, 650 feet from the sur- face. The values in the 'I'errible vein are principally in silver and lead, but carrying a small amount of gold. The Terrible claim has produced over $65,000. The values in the Ida vein are practically all gold, and the ore is of the very bighest type of free-milling ore.
THIS RICH ORE SHOOT on the Ida vein has now beeu cut by No.3 Tunnel, and this is being driven ahead in ore to the end lines of tbe group. In the upper tunnel the ore shoot is two feei wide along the tunnel level, but is much narrower at the top of the' stope. 'I'he best ore in this stope was f'ound along the tunnel level.
In No.3 Tunnel the ore shoot is much wider than it was in the upper levels and carries much higher values. This is about 320 feet below No.1 Tuunel.
It is planned to drive another tunnel just above the mill at the foot of the mountain to cut all the veins at much greater depth, and particularly tbe Ida vein, at a depth of about 1,500 feet from the surface. Finding so much richer ore in No.3 Tunnel on the Ida vein than in No. 1. 'I'unnel, and with the ore shoot twice as wide as in the upper workings, indicates that there is every probability that it wilI continue to increase both in richness and in width with greater depth.
THE IDA IS A TRUE FISSURE VEIN, aud has already been proven to carry values for a vertical distance of about 780 feet upward from K o. 3 Tunnel, and a distance of 500 feet in length along the ore shoot in No. 1. rrullnel, while its length in No.3 Tunnel is much greater than in the tunnel above. Ore has been taken out above No. 1. Tunnel on this vein for a distance of 460 feet in height, aud from No. 3 Tunnel an upraise has been run about 320 feet to connect with No.
1. Tunnel, in ore all the way, absolutely proving the ore shoot to he continuous, as above stated, for a distance of about 780 feet in height, above No.3 'Tunnel, while the values extend below No.3 'I'unnel to an unknown depth.
A winze was recently sunk below this tunnel to a depth of about
30 feet, wben tbe men were driven out by water. '1'11elast two sam- ples in the bOttOID of this winze were $22.70 and $23_00 per ton, respectively, or better than the average of the ore above the tunnel level, indicating what has always been found ill the mine before, that the values increase steadily with dept h. T1H~formation is Diorite.
THE SAN JUAN is one of the richest mining districts in 0010- rado, but it has never been a stock section, as nearly all the large mines are owned by individuals or close corporations. It is not a poor man's country, since it requires ample capital to open up a mine to a point where it can produce steadily, and as nearly all the mines are at an altitude of 10,000 feet or III 01'(-', among rugged and precipitous mountains, most of the San Juan mines are tunnel propo- sitions, which, however, when the necessary capital has once been provided, are the cheapest and best of all mining propositions to operate.
All this preliminary work, however, has been done on the But- terfly, for the mine is already fully opened up by the three long tun- nels just described, is equipped with a fine modern plant of machinery, and has every appliance for the economical extraction and treatment of ore.
IT IS WELL KNOWN that large bodies of low-grade ore afford the cheapest and most profitable form of mining, and in this section all the great mines are equipped with their own stamp mil ls, which, with free-milling 'ore, makes them practically independent of the smelters,
Free-milling ore is the easiest of all ore to treat, as the Dame implies, and is ore where the gold in its native form is scattered in fine particles all through the rock. It only requires crushing and con- tact with quicksilver to save the gold instantly. Smelting ore is ore where the precious metals are in such combination that their values are only recovered after refining by the usual process at the smelters, and, of course, is much more expensive to bandle on account of freight and treatment charges.
THE SILVER BELL, adjoining the Butterfly, owned by the Ophir Oonsolidated Oompany, was first worked in 1877. It has produced
several hundred thousand dollars, and is now being operated on a much larger scale thau ever. This Compauy has recently erected a 50-stamp miJI, and opened up the Ida vein on its property. A tunnel has been started at their miJI level, which, in about 2,000 feet, will cut the Ida vein at a depth of about 1,000 feet below their present lowest workings.
'Ore House at;entrance of NO.3 Tunnel'
THE CARRIBEAU, just beyond the Bell, and on the same moun- tain with tbe Butterfly and the Bell, is operated through a 2,000-foot cross-cut tunnel, running from the valley into the side of the moun- tain, which cuts the main vein at a depth of about 1,500 feet. This property also has a record of several hundred thousand dollars. The Carribeau vein itself has been opened at intervals for 5,500 feet, or
over a mile along the surface. This runs parallel to the Ida vein, and shows the strength and continuity of the veins in this section.
THE SMUGGLER-UNION, Gold King, Tom Boy, Liberty Bell and Japan are other well-known properties on the Telluride side, and just over the range toward Ouray is located the great Camp Bird mine, which is considered by many to be the greatest gold mine in Colorado. This is now owned hy the English company of the same name, and has just declared its regular quarterly dividend of $240,000:
THE MAIN VEIN OF THE VIRGINIUS, at Ouray, is worked at a depth of about 3,000 feet below the surface. The Smuggler- Union has thirty miles of underground workings, a record of
$25,000,000, and it is said to have the longest ore shoot in the world.
These other properties, which have been worked for years and produced millions, are mentioned to show what may be expected of the Butterfly with fnrther development. Their record can not add or subtract a pound of ore from the Butterfly itself, but since the output of the Butterfly came previously from the upper levels, thc recent opening of this large body of rich ore in the lowest workings of the Butterfly, as well as the history of all the other mines iu this section, proves that there is every reason to expect still greater values with greater depth.
STAMP MILLS. In treating ore at a modern stamp mill, the ore is trammed to the crusher at the mouth of the tunnel, then dropped by a gravity tram to the mi ll, to the ore bins, where the ore is fed automatically under the stamps. There are three batteries of ten stamps, each stamp weighing 1,050 pounds, and dropping 90 times to the minute; these crush the ore to a powder in the mortar, the sides of which are lined with plates covered with quick- silver, and the water wbich pours into the mortar carries the ore, mixed so finely with the water that it looks like a stream of muddy water, through fine screens on one side of the mortar on and over large copper plates, which are also covered with quicksilver.
The quicksilver absorbs the free gold on account of its affinity for it, both on the inside plates in the mortar and the outside plates as well, and the amalgam (so called) is saved from the outside plates
daily until a "clean up," which is made two or three times a month, depending upon the amount of are handled. Then the inside plates are also taken out and cleaned, and all the amalgam is then retorted, the heat driving out the mercury and leaving the gold. This is once more heated in a crucible and poured into iron moulds, from which it conies in the shape of bullion, and is expressed to Denver, where it is sold direct to the United States Mint.
After the are has passed over the plates it is then carried over vauners, or concentrating tables, to save whatever values have not already been canght on the plates. The fine particles saved in con- centration fall into long troughs, and are wheeled direct from the mill to cars standing on the switch alongside, to be shipped to the smelter. The concentrates are shipped to the plant of The American Smelting and Refining Company, at Durango, Colorado, only a short
haul by rail. i
'I'he Butterfly mill makes a higher saving in values than any mill in the state of which we have any knowledge, and is in splendid shape throughout.
THE ORE IS CAREFULLY SAMPLED in order to make a perfect check on every ton of ore which goes to the mill. Daily samples are taken of the ore in the stopes, before it is mined. A sample from every bucket of ore is taken at the ore house before it goes to the mill. Samples are also taken after the ore passes over the plates, and before it goes on to the vanners. The taifiugs are then sampled, and each car of concentrates is also sampled before it goes to the smelter. The bullion is also bored or chipped for assay, to determine the fineness of the gold.
The samples at the tram house are taken in tile following man- ner: There are two to three hundred buckets of are sent to the mill each day A grab sample is taken from each hucket; the whole amount is crushed, quartered, and then assayed, so that a complete record is taken of every ton of ore going to the mill, from the time it leaves the stope until the returns are received from the Smelter and Mint.
The Smelter Returns and Mint Receipts are on file at the office of the Secretary of the Company, where they may be seen at any time.
ORE IN S I G H T
Many of our clients have asked for an estimate on the amount of ore which will be exposed between NO.1 and No.3 Tunnels when the latter is completed.
We make DOestimate whatever on the amount of ore or its value, since no one can possibly tell the result until the work is actually
INTERIOR OF ORE HOUSE-Empty are buckets waiting to be loaded.
done. We know positively, however, some of the dimensions of this block of ground and how the ore rUDS as far as we have gone OIl it.
,Ve know that the dip of the shoot on the side where the shoot has
MILL INTERIOR--PLATES AND BATTERIES
No. I hung up for cleaning out amalgam. See Page 6.
been cut follows the dip of the same shoot in the upper workings.
It is, therefore, reasonable to suppose that the dip of the shoot 011
the opposite side follows the same direction it held in the upper workings. We know that the ore has increased in value as the tunnel has gone deeper into the shoot, and gained depth as well, and the chances are it will continue to increase.
THE ORE SHOOT, of course, extends above the point shown all the map at the top of the shoot, but as it neared the surface it was too low grade to pay, and as pay ore is the only thing that counts, the shoot is only shown up to the point where the pay ore stopped.
At this point the ore was only a few inches wide and much poorer than along the tunnel level in No.1 'I'unnel. 'I'his stope produced about $225,000. This is block "A" in the plat on page 18. On the tunnel level H had widened out to two feet as it gained depth, and 320 feet deeper, wher-e the tunnel has recently cut it, it has doubled in width, carrying from one to seven feet of ore in places; about foul' feet sbou Id be a fair aver-age. 'l'hc tunnel has gone 300 feet on the ore since cutting the shoot. The are is much richer than in the upper level, but the mere statement that it runs so many dollars a ton means little without knowing bow much profit this represents.
\Ye know positively the val ue of the samples per ton, and how much it costs per ton to mille and mill the ore, the length of the ore shoot in the upper level, its width, the distance between the levels, and the dip of the shoot on the side where the tunnel has cut it.
THE DIMENSIONS so far as we have them au' this block of ground between the two tunnels are here given, and each one can make his own estimate. The shoot in No.1 Tunnel is about 500 feet long, and in No.3 'runnel the chances are that it will be over 800 feet loug; call this 750 feet. The two levels are about 320 feet apart;
figure three feet of are in the lower tunnel instead of four feet. This gives a prismoid with an upper surface of 500 feet by two feet, the
lower surface 750 feet hy three feet, and 320 feet in height, which contains 506,666 cubic feet; counting thirteen cubic feet to th~' ton gives 38,974 tons.
Next comes the net value of the ore. 'I'hie has been sampled carefully every day since cutting the shoot, and the average of. sev,- enty-seven samples is about $25 a ton. Not one in the entire number fails to carry values, which is a remarkable showing on an ore shoot of this length. Allow $5 a ton for mining and milling, which is more than it bas ever been in the history of the Company, and deduct this from the average value pel' ton; 38,974 multiplied by $20 equals
$779,480 net. 'I'his is block "B." Butterfly at 50 cents a share means only $750,000 for the mine.
In estimating the net value of ore which is actuaJly blocked out, one is always sure of two things-that the values wil l be somewhat lower than the samples, and that the tonnage will be considerably larger. Some of the ore will undoubtedly run away under $25 a ton, and some will run a great deal higher. Small amounts have been taken out so rich that it would be useless to have them assayed, for they would run into thousands of dollars a ton, as they carry almost pure gold in places.
T'hls gives all the information we have ourselves as to the dip of the ore shoot, distances and the results of samples, and if these dimensions and values hold true, this is the result. Now, if the ore sboot holds the same dip and values, there would be a block of ground betweeu No.3 'I'unnel and above the proposed tunnel (No.4) 500 feet in height, 800 feet in length along the top and 1,200 feet at the base, The are doubled in width between No.1 and No.3 'I'unnels, but call it only four feet in width at the' base, 1,000 feet in length, instead of 1,200, and 750 feet in length at the top, as before stated, iustead of 800.
If these dimensions hold good, it would give a block of ground containing 1,541,833 cubic feet, or 118,60:3 tons. Allow $50,000 for driving this lower tunnel, and counting the ore the same as before, this gives $2,322,060 net. This is block "C." We do not know the
value of the ore in this block, but it is so much wider and richer in No.3 Tunnel than in No.1, that there is good reason to expect still higher values with depth. Instead of figuring higher values, how- ever, the samples already taken in No.3 Tunnel have been taken as a basis. 'Dotal, blocks "B" and "C," $3,101,540, or equal to over $2 a share for Butterfly.
These figures are given to show that there 1s good reason to ex- pect enormous profits, and while no one as yet knows positively the dimensions of this lower block of ore, this particular shoot has al- ready heen proven to extend hundreds of feet vertically ahove No.3 Tunnel, and in all probability goes far below it.
REGARDING BLOCK "C," no one would think of considering this as ore in sight because No.3 Tunnel has gone on it for 300 feet, but there are other reasons why it is absolutely certain there are rich values in this block of ground. In the first place, the ore. has been proven for the distance just mentioned, and also been proven to be much wider and richer than in the upper workings. VFe also know that this shoot carries pay ore for a vertical distance of 780 feet above No. 3 Tunnel. Compare this with the height of a modern office building if you wish an adequate idea of what a continuous ore shoot this represents.
IN SOME SECTIONS one is only safe in figuring the amount of ore actually exposed, and in others one is safe in allowing a great deal for the records of other mines in the immediate vicinity. vVe know that the shoot extends above No.2 Tunnel a distance of over an eighth of a mile. We know that it does not stop at No.3 level.
We also know there is every probability that it extends hundreds of feet beneath it. So much for the record of the Butterfly.
Now, as to the mines in the immediate vicinity. 'I'he Silver Bell, adjoins the Butterfly on the east, and its lowest workings are 160 feet above No.1 Tunnel in the Butterfly. In the last year the con- tinuation of the main vein in the Butterfly, the Ida, has been opened up in Silver Bell ground. Since the discovery of the Ida vein the management of the Bell has more than doubled the capacity of its
mill to treat the gold ore from this vein alone, and has started a cross-cut tunnel at the foot of the mountain to cut the vein a dis- tance of 1,000 feet below the present lowest workings. This shows how certain they are of getting values with depth.
XO xx l
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Mill, Tramway, Buildings, etc., at foot of mountain. Main line Rio Grande Southern Railroad.
THE CARRIBEAU, still further to the east, is opened hy a cross- cut tunnel 2,000 feet in length, which cuts the main vein, running in the same direction as the Ida, at a depth of 1,500 feet. The mine has been worked for years, and bas produced hundreds of thousands of dollars.
These ill stances show \\ hat IlIHy be expected of the Buttei-rly with further development. There is no section in Colorado which can com- pare with the San Juan country for the continuity of the veins and permanency of values with great depth. These mines have nothing to do with the Butterfly ill themselves, but considering the length of time since one property was first worked, and the great depth attained on the other, which is the only ODe of the three mines as yet which is engaged in deep mining, these points are most important in consid- ering tbe probable future of tbe Butterfly.
If these figures were cut squarely in two, it would still mean $1.00 a share for Butterfly in dividends. 'I'h!s is only one ore shoot on ouc vein in the entire seven ty acres.
Remember distinctly that we do not claim $2.00 a share for But- terfly in dividends. \Ve do not claim $1.00 a share, nor any other figure. The situation at the mine is simply stated here, and each one can judge for himself fit to the outlook.
NOTE.-'1'he above article was issued March 1, IDO:1, shortly after the main ore shoot was cut by No.3 'runnel, and the ore shoot has since been proven to be oyer twice as long as was stated when the item was written.
The paragraph, "Ln estimating the net value of are which is actually blocked out, one is always sure of two things-that the values will be somewhat lower than the samples, and that the tonnage will be considerably larger," has proven to be absolutely correct. 'l'he ore has averaged considerably less than the n ssays, while, from the amount of are extracted thus far, the tonnage promises to be a great
<lea! larger than the original estlrnnte.
COST OF PRODUCTION
'I'he difference in economy of operation of the Butterfly, which gets about 90 per cent. of its income from its own mill, and other mines which have to ship their product to the smelters, is shown in the percentage of profit in the bullion over the concentrates
A car of concentrates, which is worth $250 gross, nets the Coin- pany about $200, or a loss of 20 per cent. for freight and treatment charges at tbe smelter. A $5,000 bar of bullion, on tbe other hand, costs less than $40 for express charges and refining at the mint, or less than one per cent. of the total val ue. The output of fully nine out of every ten mines in the state is shipped to the smelters either as crude ore or in the form of concentrates, and as the ore in the Butterfly is of tbe best type of free milling, the enormous difference in the percentage of saving above noted shows what an advantage this has over most mines.
'There is probably not another mine in Colorado, a state which produces more gold than any other state in the Union, where there are such wonderful natural facilities for the economical extraction and treatment of ore. Tbe cost of operations for the coming year should be materially less than they have ever been before, as the ore is mined from No.3 level at much less cost than from No.1 level.
In the month of tbe Company's heaviest production from No.1 Tunnel, the total cost of mining, milling, supplies, etc., was less than
$3.54 per ton. In the month of its beaviest production from No.3 Tunnel, the total cost was less than $2.50 per ton, a record which' can
be equaled by very few mines in America, and which we have not been able to find has eyer been equaled by any mine in Colorado.
PRODUCTION. 'I'hc Butterfly Mine was bought by the Company of the same name in March, 1900, and since that time has produced over $225,000 in bullion and concentrates, as is shown by the itemized statement on page 2·7. The mine had previously been worked for a number of years by the former owners, but, as it had been worked both for their own account and by lessees, it is impossible to give the exact figures for every ton of ore which the mine has produced, but probably abou t: $100,000 would be a close estimate, besides the out- put from the Terrible claim. Allowing $100,000, as above stated,
$65,000 for tbe Terrible, and $225,000 since the present owners took possession, gives a total output of about $390,000.
FUTURE DEVELOPMENT. In making a recent survey a vein was uncovered in the bed of the creek, at the foot of the mountain, which looks very promising, indeed, and which wil l be thoroughly opened up, as this may nave an important bearing upon the entrance for the proposed No.4 'runnel.
DIVIDENDS. Whenever the earnings have been sufficient, over and above operating expenses and the amount needed for develop- ment work, the Company's policy bas been to distribute a portion of the earnings in dividends. Besides large amounts expended on development work and improving the surface plant, a total of $31,250 has already been distributed in this way. Earnings of only $2,500 a month are required for a dividend of one-half cent a share quarterly .on the entire capital stock, and from the present outlook there is
every reason to expect that the earnings wHI warrant a resumption of dividends within a few months' time.
WEEKLY REPORTS. Ever since the Company was organized the stockholders have been kept informed, at frequent intervals, of developments at tbe property. Qnarterly reports were issued at first, but during the last year arrangements were made with the Colorado Real Estate News, published in this city, to carry a weekly report from the mine in each issue, showing both development work and shipments, thus enabling stockholders to be kept fully informed of operations at the mine.
Neither the Oompany nor its officers have any interest in this raper, which is not a mining paper at all, but a real estate publica- tion, as the name indicates, and this arrangement was made merely as a matter of convenience to the stockholders in order to furnish them a complete and concise statement every week.
SUMMARY
THE PROPERTY is owned outright by the Company.
TITLE. Perfect-United States Patent for every foot of ground.
FINANCIAL CONDITION: excellent.
MANAGEMENT. In the hands of the same people who bought: tbe mine four years ago, and who bave since given practically all their time to it.
EQUIPMENT. The best that 'money can buy-a fine stamp mill, tramway, and every modern convenience for the economical extraction and treatment of ore.
THE MINE has already produced about $390,000, and has ore reserves already opened to last for a long time to come.
ITS MAIN ORE SHOOT is one of the longest in any mine in Colorado.
IT IS DEVELOPED entirely by tunnels, which is the cheapest possible method of mining.
THE ORE IS FREE MILLING, which is tbe best and safest class of ore to bandle.
THE MINE IS DIRECTLY ON THE RAILROAD, and on account of its superb natural situation, the ore practically handles itself from the time it is mined until the values come from the mill in the shape of bullion.
W1'fH 1'fS SPLENDID SURFACE PLANT, AND 1'1'S HUGE ORE RESERVES, THE BUTTERFLY MINE AND MILL REPRE- SENT A SIMPLE MANUFACTURING PROPOSI'l'ION, ONLY OF MANUFACTURING GOLD lL'IS'l'EAD OF ANY O'l'HER COM- MODITY.
UNLIKE ALL OTHER KINDS OF MANUFAC'fURING, ITS
PRODUCT IS THE ONE COMMODITY WHICH ALWAYS COM
MANDS ONE UNVARYING PRICE. GOLD IS WORTH $20.67 AN OUNCE EVERY DAY IN '1'HE YEAR; IN TIMES OF PANIC OR PLEN'fY, PEACE OR WAR.
THE P;JWDUCT OF '1'HE BUTTERFLY MILL GOES DIRECT TO THE BES'l' PAYMASTER IN THE WORLD, THE UNITED STA'fES GOVERNMENT.
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MILL INTERIOR-FRUE VANNERS
See Page 7
MINES AND MILL AT OPHIR, COLORADO
THE BUTTERFLY - TERRIBLE MINING COMPANY Showing the Famous Ophir Loop on The Rio Grande Southern Railroad
GOLD
Carrtbeuu l\line.
Ophir Ophir
Station. Consolidated .Mill.
Ophir Oonsolrdeted 1\Iine.
'I'err ible Shaft-Altitude 11,000 feet. Yellow Mountain. Butterfly
xuu, San Bernardo Mountain.
San Bernardo Mtne.
Sunshine Group.
Lisard Head- Altitude 14,160 feet.
A and B. End lines Butterfly Group, over one mile in length.
No.1. Tunnel, enters on Butterfly vein, then cross-cuts to main ore shoot on Ida vein.
No.2. Tunnel on Buckeye vein.
No.3. Tunnel, enters on Buckeye, then cross-cuts to main ore shoot on Ida vein. Main working tunnel.
No.4. Shaft on Terrible. Levels not shown, as workings are in direct line with main ore shoot on Ida.
.Production, $65,000.
No.5. Stope on main ore shoot on Ida vein. Production, $225,000.
Nos. 6, 7 and 8. Smaller stapes on Butterfly and Buckeye veins.
No.9. Butterfly Mill, just back of railroad trestle, as shown in smaller cut.
NO.10. Proposed (No.4) Tunnel to open up Butterfly and Buckeye veins at from about 500 to 800 feet greater depth, and to cut main ore shoot on Ida at depth of about J ,500 feet.
No. 11. Upraise between No.3 and No. ~ Tunnels.
No. 12. Main ore shoot on Ida vein in No.3 Tunnel now being stoped.
C, D and E. Showing where the Ida vein has been opened in the Ophir Consolidated Mine immediately adjoining, several hundred feet below the apex of the vein, and hundreds of feet above No.3 tunnel on the Butterfly. Point C, the greatest distance from Butterfly ground, where the vein has already been opened up, is about ~,OOO feet beyond the end lines. Before the two properties were connected (Point F), it had previ- ously been supposed that there were two distinct ore shoots in the Ida vein, but this cut has been taken from the latest maps, and present developments indicate that this Ida vein makes one enormous ore shoot extend- ing into both properties, and that further developments at depth will show it to be even richer and greater than in the present workings.
