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THE GOLDEN CYCLE- MINE ~- Has $s,ooo;ooo in Sight and is One of the Biggest Producers and Dividend=Earners in the Entire Cripple Creek District .'L' z v (Reprinted by permisaian The Mining /nueator) The public flotation of the Golden Cycle Company's property by tar the largest mining deal ever made in Colorado Springs. ~ company's stock has only been on the market a couple'of weeks it ie already selling at a substantial advance. This is the public's dict of approval of the proposition: The property was secured upon very advantageous terms from Moffat~Smith syndicate. The mine is one of the big ones of -the Ip and is a heavy and steady producer and dividend earner. At sent x large and substantial cash treasury reserve is being accu- I:rted and very soon dividends will be started, all o_t which ie now ng corned from the profit of the mine: Mr. John T. Milliken,, of, Louie, wbo' is largely interested in Cripple Creek's mines, asnoci- d with Messrs. Tucker,. Ballard and Shepherd, of thiscity and _ PPIe Creek, were responsible for this very successful flotation. air high standing, conservatism and successes in other mining estments are largely responsible for the manner in which the cpany's etoclr was so rapidly eubseribed for as they supported the - leral reputation o£ the mine which hoe always been ranked as ong the most profitable in the great gold camp. Since the present management secured control a massive hoist- ; engine has been installed. It is of the come type tie that iu use the Gold Coin mine and has an enormous lifting capacity from '.at depths. The lower levels of the mine are being opened up pidly with moat flattering results. Some of the richest ore ~.evor and in the mine has been eneountet\d at the greatest depths while e veins and ore shoots are found to be generous as to width and drills. In the lower workings the showing of ore in sight is remark- able and although the property has been making a production record of over 100 tons per day it is quite evident that the develop- ment of the mine has been pushed well ahead o[ the output. With- out having made soy test of the ore belies ln-sight, an undertaking which could hays served no practical purpose if undertaken in a hap- hazard \vay, it would seem that Mr. Moore's estimate of over ffi1,000,- 000 gross ih eight in the property. was an eminently conservative one. Thera is undoubtedly a very heavy tonnage of ore ready for production in the mine today and with a comparatively emalI amouuE oC development work io the lower workings this amount can be very largely increased. Mr. Moore with a good force of assistants was in the mine eix~weeks preparing for hie report so the conclueione ar- rived at are, of course, above criticism. Some comment as to the poaeible conservatism of Mr. ~foore's statements ie, however, very probably permissible sad pardons ble. - The Golden Cycle is generally classed as being a low grade mine, although among the 800 odd assays recently taken by Mr. Moore and his assistants there were several that chewed values of from $200 to 5300 per ton and oily each ores as were large enough to be profitably worked were sampled. The following table was compiled by the consulting engineer and shows the depth to avhich all the veins have been worked, the length of them as they run through the Gulden Cycle territory, the length of ore shoots in the veins and the average width of the ore bodies: s uu. The location of the Golden Cycle Company's property Is iellent. ' - ~ ~ ~-~ Tho tracks of the Golden Circle railroad are about 100 yards low rho main shaft of the Golden Cycle. The Midland tracks run a very slight elevation, if any above the main workings so that tie r as shipping Facilities are concerned rho property could hardly be tter situated. The buildings on the ground ors quite imposing, will be seen by the illustration herewith, and the ore house in the rrgrcund is new. This ore Louse has a storage capacity of 800 ns and ie fitted up with a sampling plant and all the latent mechan- rl laborsaving devices. It is connected with rho shaft house by a m-way, the holster lifting the cage to this upper level where the tided car is run off and its place taken by an empty one. Tho shaft is a capacious double apartment affair with two cagen stalled which m•e kept at work day and night, hoisting ore .and iste from the mine. Tho stations at rho various lovele are roomy ul wall constructed and the pump installed below ground is all iat the small flow of water in rho mine needs. Tho mine has riurally a good ventilation and although the inspection was made sortly after blasting Lad taken place, there was not Uhe slightest uspicion of foul air in any part of the workings. Thnro are several miles b4 workings in the Golden Cycle proper- t s-o that of necessity only a part of them were inspected. Especial ttention wa§-divan to the lower levels of rho mine wkiuh are tke lost important in considering the future of the property and, put oncisoly, they showed up splendidly. ~ WhaE impresses one most vhen making an inspection ie the large size and closeness of the eina. Only ten or eleven acres o4 the territory have been prospected uul yet half a dozen pay veins have been opened up within this com iaratively small area: The fourteen acres to'the north remains pray ~ically untouched and thin ground lice directly between that which ias proved so productive and the Vindicator, one of the biggest pro lacers and dividend payers on Bull Lill. ' In many parts of the mine, or perhaps it would be more correct say, along the veins; the ore bodies widen out coneidorably. In tlaces they run ton, twenty and thirty feet wide, which allows the e to be broken cheaply and in largo quantities with rho power y m~+ trJH o w ~ o v o' m C m Ul d .- ~..- - NADfE OF vE1Nn.' m L. ~ °'o ~ ~ ; .. ~ m Legal Tender, main ...... m ..........830 300 700 4 to 18 Legal Tender, spur ....... ..........300 Bu ~ 530 3 to 7 Legal 'Pendeq ne\v ....... . ... ...: 820 100 335 4 Harrison .... .... ....:.... ..........900 260-500 500 4 Revenue, main .......... . ..........530 150 b50 4 to 25 .- Revenue, new ............ ...... .... 50 ;' 40 4 to 7 Le Bella ................. ..........450 160 244 4 Torbert .... ........... .. .....1....230 120 l40 3 H Note-The above figures represent the number of feet. By studying this table it will be seen that only four of the veins Love been worked to n greater depth than 500 feet although the main shaft is now 700 feet below the surface. The veins in,questioo, especially the Harrison, have a good length oP ore shoot upon them and it will be seen that by extending the workings in the lower - i levels these ore bodies can be readily encountered in the same manner that the Legal Tender coin Las done-a fact which in itself proves the extension of pay values to this depth. Of what rho future of these ore bodies will be we can tellnothing at the present time and only the actual development of the property will demonstrate. The indications are, however, that the minerali- zation will continue down to a great depth. As has been stated f' above Mr. Moore scoffs at the idea of it not doing so, nod it may be added that rho merest tyro of rho mining world would, after a personal examination, be satisfied upon this score. The Golden Cycle isa great mine today, but with a few hundred feet added to the bottom~of it it will be many times greater and will , rank with the we¢lthieat in the entire state. The work of continu• ing the shaft down is, it is understood, to be started soon and every foot of depth will add value to the property. The Golden Cycle has enough veins opened up and ore in eight ' to start three or four fair-sized mines in business and the appoint- ments of the property in other directions ors also entirely satistartory: