THE OMINECA MINER,

SATURDAY, OCTOBER 21, 1916.

The Omineca Miner

PUBLISHED EVERY SATURDAY AT HAZELTON, THE CENTER OF THE:
GREAT OMINEGA District oF BRITISH COLUMBIA.

A. R. Macdonald, Publisher and Proprietor.

SUBSCRIPTION RATES: Canada and British Possessions, Two Dollars a
year: Foreign, Three Dollars a year.

ADVERTISING RATES: Display, $2.50 per inch per month; Reading
Noticea, 20 cents per line for each insertion. Legal notices inserted at B. C,
Gazette rates. ,

VoL, VI. SATURDAY, OcToBeR 21,1916. - Nos
A MINING ENGINEER TALKS ON MINING INVESTMENTS

There is much information for the layman in an address
recently delivered by John Hays Hammond, the noted mining
engineer. Dealing with mines from the investors’ point of view,
Mr, Hammond said:
it is important for the investor in mining properties to distin-
fuish between the two classes of mining. investments—prospects
_ and mines, By the term ‘‘prospect’’ the miner designates ore

deposits only partially explored or developed. Obviously, investments

in this class of mining are always of a speculative character, and for

this reason are often referred to as mining gambles, The capital

required to purchase and develop a prospect is,of course, much less

than that required for the purchase of a developed mine and the

installation of the mining and reduction plant necessary for' its
’ exploitation.

While financial loss in each particular case of failure in invest-
ments of this character is smaller, the losseg are, nevertheless, more
frequent, because of the preater inherent risks than in the case of
developed mines, This kindof mining should be confined to such
capitalists or exploration companies as can afford to incur the risk
of several failures before attaining final compensating success,

It is difficult, at times impossible, to define at what point in the
stage of its development a prospect ends and a mine begins. Itis
not always the amount of development work alone upon a property
that determines in which category it belongs. For example, some
classes of ore deposits, owing to their peculiar geological features,
possess such reliability in respect ot the persistency of ore deposits

ag to warrant the investor in regarding them a3 mines‘and not as:

mere prospects, in spite of 4 relatively small amount of exploratory
work actually performed. The famous ore deposits of the Wit-
watersrand, in the Transvaal, are examples of mines of this kind.

But, in genera} terms, a property msy be dignified by the
appelation of mine only when it is sufficiently developed to enable
the engineer to make a calculation of the value of the ore reserve,
and, in addition to this, to form an opinion as to the continuation of
the ore body in depth beyond the limits of the ore in sight—i.e.,
ore reserves with such a degree of probability as to practically
assure the return of the capital invested in the purchase’ of the
property and the erection of necessary mining and reduction plants.

In their reports mining engineers and experts divide the ore into
three classes: first, ore blocked out; second, probable cre; third,
possible ore,

The ore blocked out is usually referred to as “ore in sight,"
and can be accurately determined by a competent expert through a
careful and exhaustive system: of sampling.

In his estimates of probable ore the engineer is confronted with
different conditions, because here certainty stops and conjecture
- begins,. In determining probable ore much depends upon the
personal equation of the engineer. Some ‘engineers ate inclined to
allow as probable ore the ore embraced in’a block of ground lying
below that actually blocked out to a depth of from twenty-five toin
rare cases upward of a hundred feet. Such estimates would depend
_in a Jarge degree on the opinions of the. engineers . as to the
persistency of the payable ore bodies,

In: ‘the case of “possible ore,’’ estimates are obviously highty
speculative,and yet I would prefer to take the conjecture,or guess,

if you please, of some few engineers because of their :"‘exceptional |.

expertness’’, as to how much importance is to be attached to the
occurrence of possible ore than to accept from others less qualified}:
in this particular kind of mining clairvoyance an estimate of the
the “probable ove,” Herein lies the ability of the trained | engineer
_ to see “‘beyond the end of the pick”, which was the limit of the ore,
reserves and. the probable ore of the old practical miner, who was
the mining expert of the past’ generation. !
_ ‘Tt is rarely..that. mining shares are offered: ta- the investing
public on. the basis of the net value of the ore: reserves of the mine:
that is to gay, the mining investor i is not guaranteed the return of
his. entire investment from the net profits to be. derived from the
ore reserves. alone, * ‘He must expect to assume the risk. of a part

of his ihvestment based on profits to be derived from probable ore, |

Ab it is very,seldom that a mine can be purchased on the basis
of the net. value of its ore.resetves—i.e., for the net value: in sight

—it is of great ‘importance for. the engineer to, determine ; to what}:
hopeful spicit in: this: _ vicinity,
tiv .

extent he can include probable ore in his determination of the vale
, of the ming, ° It is,"i indeed,’ ‘upon the degree of risk assumed in. the
. “estimatQot Lela i that the be eng neat has to.decide whether he|.

‘TNEWS FROM THE

LAKE DISTRICTS

Breezy Briefs of Interest Culled
From the Happenings About
. Francois, Ootsa & Burns --

SOUTH FRANCOIS

On Sept. 1, Miss J. Blaynéy,

the popular daugher of Mr. and

Mrs. Blayney,of Tatalaska Lake,

became the , bride of Mr. Frank
Burroughs. a neighboring -ran-
cher. It was a great day, and
made the bachelors around feel
rather out of it.

Murdock Hay’s cabin had al
‘narrow escape from ‘destruction

last week. During his absence his
neighbors put out an incipient
blaze. Mr. Tuohy’s buildings
were in the danger zone.

John Keefe has disposed of his
cattle, which had the earmarks
of a promising herd,

Hogs are now taking the at-
tention of the ranchers, and it is
expected there willbe a goodly
number here next year.

Throughout the present dry
spell there have been two in-
stances where blue grass around

cabins saved them from fire, as.

it is ‘not, so susceptible to frost
and keeps green lorg after the
other vegetation has died,
NORTH FRANCOIS

The sympathies of all the set-
Jers go out to Mr. and Mrs. Strong
in the loss of their little daughter.

§. Long returned on Thursday,

‘the 19th.

The ferry now. makes four
round trips daily, leaving the
North side at 8.30 a.m., 10.30 a.
m., 1.30 p.m. and 4.380 p,m., and
leaving the South. side at Band 10
am. and 1 and 4 pm
BURNS

R. P, Trimble, . of Rocher de
Boule fame, has just made a trip
to the Babine Lake country; and
declares it to be well mineralized,
He thinks. the present trail an
ideal grade for a wagon road,

H..Boss has returned from one

of his old-time mysterious trips |

to the Babine. Was it land or
mineral ?
. Arrangements are being made
by the Northern . Telephone Co,
to operate between Francois and
Burns lakes, 2

Mrs. Slaker returned on- Wed-
nesday with the new arrival,
Master Slaker.

Messrs, F. Keefe and Strong
are making good progress with

- {the, Reman Catholic ‘ehurch on

the Indian Reserve,
OOTSA ee:
Mrs. Carroll, of Burns Lake, 4 is
visiting her parents,
The government. road “gang,
under W. Ellison, has come to the
end of its appropriation, but with
its accustomed co-operative spir-
it,is finishing up the grade around
the eastern end ‘without pay, so
that the road shall be complete,
George Sandford has‘returned
from the hills southeast of here,
and” now anxiously awaits” the
assays on his ore samples,

Hanson Bros, are ‘preparing

winter. quarters. - “They have se-
cured 25 head of cattle, ae
‘Whitesail. river. -is.. ‘causing r

with. its. Prosp

lhe Distributing Point]
for the Great Northern}

at

_ Prospectors, Miners’

Landieckers, Surveyors :

and. Sportsmen will find -

the. merchants of Ha: 7

“zelton prepared to meet |

, every requirement: in
o uthit and supplies. Hay-

ie ‘been’ engaged for
many years’ in outhtting - .

» parties for the Northern oe .

Interior, Hazelton busi- oS *

mess men aré qualified -

a to give valuable advice * aon

and assistance to. new:

comers. :

| - Harton is situated at
- the, corifluence of the

~ Bulkley and ‘Skeena ve ae

“rivers, a mile’ anda
quarter from ‘Hazelton oo

"station ‘on’ the Grand :

Tink. Pacific railway. ” .

+ Engin may be -ad-

| : dressed. to