Find Platinum in Trabuco Canyon
Tin Mining Company Makes Rich Strike
Between Nine and Ten Ounces to the Ton Being Turned Out - Metal Worth 27 Dollars an Ounce
August 6, 1905
Los Angeles Herald
Platinum in considerable quantity has been discovered in the mines operated by the Santa Ana Tin Mining Company in Trabuco canyon, Orange County, and the stock of that concern has soared skyward in consequence.
Information upon the discovery has been slow in leaking out, as the directors of the company, of which Gail Borden is president, G.W. Hoover vice president and L.C. Comer secretary, have been suppressing information until they should have all loose stock bought up. In speaking of the company and the recent discovery Mr. Comer said: "There is now no stock of the company on the market, for we have succeeded in tracing and obtaining all outstanding blocks.
"As for the mines, I think we have something good. We are now turning out between nine and ten ounces of platinum to the ton, and platinum is worth $27 an ounce. Besides the platinum we find a small by product of iradium and enough tin to pay us for the running expenses of the mine.
"Our mines are in the Trabuco canyon, fifteen miles from El Toro, in Orange County. Work was begun there four years ago last March and our original intention was to mine tin. Some little time ago, however, traces of platinum were found while making a test for a new grade of ore. On the strength of the discovery we began to buy up blocks of the stock and now that that is accomplished an electric furnace costing $1000 is to be installed for the melting of the platinum.
"At the mines we have sunk a main shaft of eighty feet with a drift of fifty feet, a secondary shaft thirty feet deep with a short drift. Besides there we have two tunnels, one of 300 feet with a drift of 125 feet, and the other with no drift, but 200 feet deep.
"There is plenty of water at the camp, for we have nearly 1000 miner's inches of running water in the canyon.
"Before the discovery of platinum we had erected a ten-stamp mill for tin mining and since the discovery we have installed a laboratory and [unreadable] office. Besides these buildings we have a camp, consisting of five cottages, a store house, a blacksmith shop and a cook house.