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Bisbee, Cochise County, Arizona
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The Gold Nugget Mining Co. secretary J. G. Pritchard reports three months of progress: 445 feet developed in hard rock, ledges widening to 5.5 feet, ore assays $140-$165.60 at 400-550 feet, confirming permanent ledges in porphyry. Plans for ten-stamp mill pending funds.
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Mr. J. G. Pritchard, secretary, has just presented the report of progress for the first three months to the stockholders of this company:
They have 445 feet of development work done on the property which is a very good showing in hard formation. Their ledges have widened to five and one-half feet with depth.
The values are holding out well, the rich chute of ore cut by both tunnels at depths of 400 and 550 feet respectively showing assay values of $140.00 to $165.60. The demonstration that the ledges are in porphyry intrusions through the granite is a guarantee of the permanency of their ledges.
The small amount of money with which the work has been accomplished shows commendable economy on the part of the directors and management.
They contemplate the erection of a ten stamp mill on the property soon as they have sufficient funds hand. This will add one more to
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Secretary J. G. Pritchard presents three-month progress report to stockholders: 445 feet developed, ledges widened to 5.5 feet, ore values $140-$165.60 at 400-550 feet in porphyry, economical management, plans for ten-stamp mill.