From New Mexico

Correspondtncc of The Coukikr. 1_iOS LiiifW, ' Mexico, i July lOth. ïLu. f ÏIKVKI.OI'MKNT Of MINES. J'lic only developnient of' minos in tho :ontral and northern parts ia in tho CerilIoh, or what ks now ealled tle OW Plaeor ind New Placer distnets, situated aliout thirty-tivc miles south of' Sauta Fe. This lv:.!ity, t is clairaod, was workod extenaivoly by tho Spaniards provious to tho Indian rchollion in 1G80. Wnnderfiil ptories are told of tho richncss oí' tho minos in tho Cerillos, and the uuount of wealth aincd hero by tho Spanish kings two or more centurios ago, Uut us I havo passod through the gaping cxUtcuce of tbc noophyte, it will not udd to tho veraeiousuess of tht narrativo to repeat tbein. The general fornintion of the Corilloa is porphyritic. Red and brown sandstone irc found, and in one acetion linieBtone bas boen met witb. The charaoter of the oros varios in the different bcctioa.. The (juartz ind heavy spar carries galena, sulphide of iron, carbonate and sulphide of copper. In the center of the district the copper iisappears and clean galona takes its place. Powards the west the quartz inerease and show? sonie gold. The veins vary from one inch to forty feot between tho walls. Thé crevice rautter is rotten porphyry Blled with gypsum, rieuvy spar, quaru, and galona. All tliis district shows the linos of corruptwe agencies very distinctly, as a zcttlous Texan prospector kindly informed uic. There are at presen about two thousand lodos located, on which perhaps one half havo the aasessment work done. A smaller put up by Boston capital has just been put io operation. THE SAN PEDRO MINES. The property of tho San Podro and Canon del Agua mining compaDy, of which Gon. Grant has recently beon made prosident, is situated at the New Placors and oonsists of about thirty-üvo thousand acros of land, most of it covered with pinon timber, and contains within its limita the San Pedro, Querto,San Ynidro and Sandia mountains, all of which are known to hold mineral in large quantities. The coinpany are reportad to havo paid $800,000 for the two grants, or at an average valuation of 26 per acre. The copper and gold mine is found at an elevation of 8,000 feet on the western sido of Querto uiountain. The vein of tho copper aud gold is about thirtyfive feet in width vcrtically, encased in well dofined walls cropping out lattorly on one side of the mountain for a distance of three-fourths of a mile, pitching into the mountain at an angle of fifteen degrees and oropping out again.on the ojiposito sido of tho mountain. The ore is composed of carbonates, silicates, and óxidos of copper. Of tho thirty-fivc foot voin mentioned about twenty-fivo feet carrios copper, the rest gold. In opening the voio tho company has pursued the plan of devclopmont of the Comstoek mine of Nevada. An opon cut about ono hundred feet bas boen run into the side of the mountain and continued as a tunnel saventyfive feot furthor; lateral drifts nortu and south are being run aoross tUe vcin, noithor of which, cach being about thirty-five in bas eut the side walls. Midway in the tunnol a winze is being raised.whioh will oonnect abovc with one of tho tunnels of the old worklngs- this being one of the famous mines workcd by the Spaniards many ycars ago. Six hundred feet north of the devclopmonts the vein bas again been opened exposing the gold and copper ore in large massee. Altogether it is estimatod thoro aro twenty thousand ton of ore in sight. Thia mine is aoknowledgcd by all who have seen it to be tho largest body of copper in New Mexico. Samples of tho eopper ore taken from the ontire length of the vein averago from twelve to forty-six por cent. copper. Assays from the gold ore have returnod from a trace up to $30 per ton. The average valuo of the ore taken from the famoua Comstoek minos is about $38 per ton. While the whole property of the San Podro and Canon del Agua company is looated and erroneously known as the "New Placor,"and indeed all the mining eamps in the vicinity ealled by that name, yet tho plaoer grounds aro but a small portion of tho grant, there being only about two thousand acres of plaeor deposita. ThoBO deposits of washcd goldbcaring gravel are of ancient date and similar in character to the gravel depobits found in the middlo and southern mining districts of California, though thcro is a gnt difference in favor of those deposits in that tkey prospect from tho grass roots to tho bed-rock. These gravel doposits havo suffiuient fttll for hydraulio purposes, and the plan for furnishing tho wator provides for the carrying away of the debris, tho pipos being arranged so as to rcoch all parta of the placer ground. These deposits have for a long timo bcon known nn being 'm „„;,,,,.y rich, aud to bc among the best gold washings in America, but for tho Fant of water could not bc made available. TUK HOI.!) THE!) Ol' THR H.AOERS. It bas been estiuiated that when the VHter h thrown upon the plaeers and the forking of tho ground by the hydraulio rocoM coiniuoDces, tho yield oi' gold will iverage fifty cents a cubic yard. A pan of lirt, which gives a cent in gold, is equal to me dollar and a half per cabio yard, and n tho prospecting that has been doao hroughout, tho iS'ew Placers, every pan of lirt excopt whon tstkcD from the very surTace ground, has yielded more than that imount. To make a statement in ligures )f the aniount of gold that can be taken From theso two thousapd acres, of course, would be impossible, hut it-is within the power of the writer to pivc the reader Boruo idea of the value of this property. Two thousaud auros of placer washings, taken upoo the basis of only thirty feet- about ono-third the real depth of' theso plaeers - ahd granting a yiold of but fifty cents a cubic yard, would be forty-oight millione and four huodred thousand dollars. If water is furnished in sufficient quantitiefl there can be without doubt one tuillion dollars taken out annually for fifty years. The supplying of water for these washings, and which calis for a larjje expenditure of labor and money, may bo liriefly stated to be the damining of the oanonsof La Madera, Las Huerta?, and others, forming by this of' reservoirs, and the laying of twentyfivc milos ol' twenty-ineh pipe through which to cunduct tho water to the New Place rs. THE VALUE OF THIS PROI'ERTY. The copper mino, the gold minos alroady partly dcveloped or waiting dcvolopment - tho one most patently at present of great value, being the vcin of free gold connected with the coppcr minos - tho New Placer with the woalth of gold whioh has in the past boon proved to be oontatned in the deposits, and the abundance of timber nd fuel found on tbc two grauts - these are tho inducements which tho property has long held out to capital, and the San Pedro and Canon del Aqua company bas been the first to perceive the truo valuo of the land, and purehasinc it, to proceed onergetically and earnestly with the dovelOpment of its resources. To Bummarizo bricfly the condition, prospecta and possibilities of the mine industry ol' New Mexico, it vntiy bc said that in the northern part.in tho counties of Qaos, Colfax, Rio Arriba, Mora and San Miguel, nothine vet has boon dono excont nrosneoting, which has resulted in tho locating of inuny "claims," which givo surface itidications of coal, copper, gold and silver ores in paying quantitics. In Bernaüllo and Santafo counties a development of the minos is being made. The White Oaks district, Nogal and White Mountains in Lincoln county, show mineral prospecte that are exciting considerable attention. The LaJoya proporties, in Socorro county, havo a great abundancu of low grade ores. Silver City, in Grant county, is the center oí' a large and rich mineral hearing district. Thero tho ores are . mostly high grade, as are all the ores as you approach Old Mexico. There is but ono smelter in operation in the territory, outside of Grant territory, though the San Pedro company are prepared to erect smelters, reduction works, etc., as soonas it can be ascertaiDcd what machinery is necescary to reduce their ores, which are now being shippcd to Baltimore. In a quiet way, New York and Boston capitalista, prinoipally, are buying up dosirable " claims, " and as rapidly as possible devoloping thoir proporties. It can safely be said that New Mexico has minerui resources oi' no raoan order, and any one who becomes judiciously interestcd in mining properties hero will probably find it a source of exceeding protit. If the territory does not bear mineral, the creativo purpose for the land ie a mystery.