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Commercial
July 13, 1939
Event 1 of 2
The Western News
Libby, Lincoln County, Montana
What is this article about?
A new Washington corporation, Yak Gold Mining, Inc., with 1,000,000 shares, formed to mine gold in Sylvanite district near Troy, close to profitable Keystone mine. Plans $7500 expenditure by June 30 to develop ore body. Directors: Sorber, Wilson, Johnson, Hipke.
Clipping
OCR Quality
98%
Excellent
Full Text
This is Event 1 of 2. The full text below covers all events in this component.
New Gold Company In Sylvanite District
A new mining company has been formed to enter the gold district at Sylvanite, 18 miles northwest of Troy.
The new corporation is known as Yak Gold Mining, Inc., and is a Washington corporation of 1,000,000 shares.
A circular letter mailed out by the company says:
"Our property (six claims) is only a short distance from the Keystone mine, which has been operating for a number of years at a nice profit. We believe we have a vein similar to that of the Keystone, as we are in a direct line with the trend of the vein, which outcrops at places. The Keystone vein is as wide as 70 feet in places, and because of its unusual width can be mined at low cost.
"The main mineral values in this district are gold and are free milling to a considerable depth. We believe the expenditure of $7500 will be sufficient to block out a substantial ore body, and that the work can be completed within four months from the date (June 30).
"The directors and officers intend to make a sincere and determined effort to make a dividend-paying mine of this property. The statutory statement of the company is on file with the director of licenses at Olympia, with the auditor of King county in Seattle, and at the office of the company."
The directors and officers are M. L. Sorber, Arch Wilson, O. W. Johnson and Paul Hipke.
A new mining company has been formed to enter the gold district at Sylvanite, 18 miles northwest of Troy.
The new corporation is known as Yak Gold Mining, Inc., and is a Washington corporation of 1,000,000 shares.
A circular letter mailed out by the company says:
"Our property (six claims) is only a short distance from the Keystone mine, which has been operating for a number of years at a nice profit. We believe we have a vein similar to that of the Keystone, as we are in a direct line with the trend of the vein, which outcrops at places. The Keystone vein is as wide as 70 feet in places, and because of its unusual width can be mined at low cost.
"The main mineral values in this district are gold and are free milling to a considerable depth. We believe the expenditure of $7500 will be sufficient to block out a substantial ore body, and that the work can be completed within four months from the date (June 30).
"The directors and officers intend to make a sincere and determined effort to make a dividend-paying mine of this property. The statutory statement of the company is on file with the director of licenses at Olympia, with the auditor of King county in Seattle, and at the office of the company."
The directors and officers are M. L. Sorber, Arch Wilson, O. W. Johnson and Paul Hipke.
What sub-type of article is it?
Resource Discovery
Appointment
What keywords are associated?
Gold Mining
New Company
Sylvanite District
Yak Gold Mining
Keystone Mine
What entities or persons were involved?
Yak Gold Mining, Inc.
M. L. Sorber
Arch Wilson
O. W. Johnson
Paul Hipke
Keystone Mine
Where did it happen?
Sylvanite District, 18 Miles Northwest Of Troy
Commercial Details
Location
Sylvanite District, 18 Miles Northwest Of Troy
Event Date
June 30
Commodities
Gold
Key Figures
Yak Gold Mining, Inc.
M. L. Sorber
Arch Wilson
O. W. Johnson
Paul Hipke
Keystone Mine
Notable Details
1,000,000 Shares
Washington Corporation
Six Claims
Expenditure Of $7500
Block Out A Substantial Ore Body Within Four Months
Statutory Statement On File With Director Of Licenses At Olympia, Auditor Of King County In Seattle, And Company Office