Note: Prospectus of the Molson Gold Mining Company, probably published in 1906. The pamphlet describes the property owned by the company and the processes of dredge mining and placer mining. It presents a variety of appeals to attract potential investors and convince them of the worth of the land and company.
The Molson Gold Mining Company is a company incorporated under the laws of the State of Washington. The capitalization is $4,000,000 and the par value of the stock is $1.00 per share. It is fully paid and non-assessable, and carries no personal liability. The splendid property of this company consists of a fraction over 223 acres, held by location, possession and compliance with the laws of the United States. The property is in process of being patented preparatory to receiving a deed from the United States Government.
The Molson Gold Mining Companies Group is situated in Okanogan County in the northern part of the State of Washington near the British Columbia border line on the Great Northern Railroad, and in the heart of the richest mineral belt of the Northwest, 4 ˝ miles from Molson on a good County Road.
The Molson Gold Mining Companies Group has been developed by the expenditure of upward of $200,000 on shafts, tunnels, drifts, cuts, buildings and machinery. The underground workings totaling approximately one mile in extent. A $25,000 reduction plant, one of the most modern and complete sample reduction plants ever set up in a mining camp to test out our ores on the different levels has been installed on the property. This consists of a steam driven electrically lighted modern Combination Amalgamation and Concentration Mill, comprising Six Nisson Independent Stamps and two Wilfley Concentrating Tables with all attachments complete, including Ore Crushers and Automatic Feeders.
The present mill and plant is housed in a frame building, four floor, 35x75 feet and wing addition.There are also five houses, 16x22, one and a half stories of four rooms each; one general office building, one assay office where a complete and modern assay equipment is installed; one blacksmith shop and stove room, one large boarding house with complete equipment; also barn, wagon shed and stables. The work is in charge of an expert mining engineer of established reputation, and under his personal direction the very large resources of this property are being rapidly developed. Increase in value during the past year, 4,000 percent.
Never failing springs with gravity pipe lines furnish running water from the mountain side to the houses and barns. Two reservoirs of 300,000 gallon capacity, supply water for milling purposes, one of which, fed by large never failing springs, is piped by gravity to the mill; the other is fed by Mary Ann Creek, also never failing supply.
Anticipating the future possibilities of our splendid property, and having in mind future requirements of our inexhaustible ore supply, our Board of Directors last year unanimously decided to buy and have purchased the Oro Libre Claim, giving us access to the large body of water in Hedges Lake.
The principal ore deposit is known as the “Kismet Vein,” and has an average of 14 feet and is traceable on the surface for 2,500 feet. The vein has been developed by both shafts and tunnels and the ore cut and drifted on at a depth of 142 feet on the dip of the vein. It is the hope of every mining engineer, when developing a prospect containing ores, that he may be able to trace the vein below the “Break,” or below the broken up surface portion of the earth’s crust, and into the solid formation below. It is this condition that the properties of the Molson Company have now attained. As an investment proposition in mining securities, it has passed from that added hazard, or additional risk condition usually attached to mining investments because of these conditions.
A conservative valuation of the property at the present time, based wholly upon ore in sight, and conditions revealed by development already completed, taking into consideration nothing in the shape of ore below that level attained, is approximately $3,000,000. The average values of the ores of the company is such that they can be mined and treated at a very splendid profit of the company and we are not dependent upon smelters or freight rates for the marketing of our free milling ores, as we will reduce upon the property all of the ores mined from their crude state to bullion, ready for sale to the Unites States Mint.
The returns from samples range from $5.00 to $200 per ton, in gold and silver. The average of the ores from the veins of the property will approximate $10 per ton. These ores can be mined and milled for $1.52 per ton with a reduction plant of 30 stamps of 200 ton per day capacity; which is at the present time approved and its financing undertaken. With ore even of this $5.00 grade of which 86 per cent is recoverable, a very splendid margin is returnable to the company.
There are three other veins of ore upon the company’s property which are known to exist and which have been developed to a more or less degree, one of which having approximately 150,000 tons of ore blocked out upon it. This vein has an average width of 8 ˝ feet and is traceable on the surface continuously for 5,000 feet, 2,400 feet running through “Realty” and “Kismet” group. Of the other two veins the development work has revealed ore varying in value from $5.26 to $32.17 per ton in gold and silver. The veins are well defined, the walls very easily distinguishable and so situated that the economical extraction of the ore is possible.
ALASKA, YUKON, PACIFIC EXPOSITION
Seattle, Washington, 1909
The Molson Gold Mining Company
For exhibit of Gold Ores, “Kismet Vein.” Assay below; 100 pounds ledge or lode ore, assayed $63.48 per ton; 100 pounds foot wall, (country rock), assayed $3.28 per ton; 100 pounds hanging wall, (country rock), assayed, $4.60 per ton; showing how thoroughly the (“country rock”), foot wall and hanging wall, outside of the vein or lode at the Molson is impregnated with commercial values.
Sixty (60) acres, “Early Dawn Group,” is very heavily timbered with Pine, Tamarack, Fir and Spruce; the timber being such size and quality as to make it valuable as lumber; and it is the policy of the company to install a small mill to furnish its timber for mining purposes and lumber for surface improvements from its own timber supply, a saving of $10 per thousand feet.
There is under consideration at the present time an electric power line from Smelicamine Falls which passes within a very short distance from the end lines of the company’s holdings. This line will supply power for the Republic Mining Camp at Republic, Wash. The capacity of the generating station approximates 35,000 horse-power. A contract with the Northern Washington Power Company has been negotiated so that the company will be able to avail itself of this power at $50 per horse per annum for 24 hour service. The acquisition of this source of power supply means a saving to the company of from $25,000 to $30,000 per annum on the amount of power which we will use, having been dependent upon steam and distillation in the power plant to the present time.
Investment, Safe, Sure:
Those interested in the management of the company are business men of integrity and character, and capable of seeing the Molson fully developed, and put on a permanent dividend basis. This is not a “Mining Prospect,” but a mine of millions of dollars worth of ore blocked out; close to the time when stock holders will reap dividends and the value of their shares greatly enhance in price.
The Molson is sure to become on of the greatest dividend paying properties in all the rich mining section of the great Northwest. Millions of dollars have already been paid in dividends from mines not nearly as rich in ore deposits as that already opened up in the famous Molson. No business in the world is safer or more profitable as an investment than mining. And there is none that offers a cleaner and more honest dollar. The net proceeds of your subscription for Treasury Stock in the Molson goes into the development of the property, as the general officers of the company receive no compensation for their services depending on dividends on the stock they hold to reimburse them for services rendered.
The condition of the treasury of the company is rather unusual for a mining company at this stage in its development. From a total of $4,000,000 par or 4,000,000 shares, approximately $2,600,000 still remain in the company’s treasury, and only enough of this will be disposed of to do the small amount of underground work still remaining uncompleted and the erection of increased milling capacity.
With the properties of the company and their splendidly defined ore bodies; with the proven tangible asset of ore in sight, together with the stage of their development eliminating that extra hazard usually attached to a mining investment, the success of the company from the practical mining end is assured. With the advantage of location in the heart of a territory surrounded by dividend paying mines along the Canadian border, e.g.-Gramby Consolidates Smelting and Refining Co., British Columbia Copper Co., etc., while on the south are the Lone-Pine Surprise Co., at Republic, and the First Thought Mines at Orient, Wash. With the Coeur D’Alene mining district of Idaho on the southeast, it is no surprise that the Molson property is proving to be so valuable. The availability of hydro electric power at a reasonable cost, together with an ore which is inexpensive to mine, and from which an extraction of 86 per cent of its values are recoverable, makes an investment safe and sure. Your subscription of Treasury Stock solicited.