Steep Rock

Since 1923, not a single pound of Canadian iron ore has been produced. The 2,000,000 tons of ore a year required by Canada's iron & steel industry are imported from Newfoundland and the U. S. It was therefore news last week when the Northern Miner (Toronto) reported that Canadian iron would soon be coming up from a big ore body beneath M-shaped Steep Rock Lake, located about 100 miles north of Minnesota's great Mesaba Range.

In 1937, a prospector named Jules Cross became convinced there was iron under the lake. After he met up with Joseph Errington, a prosperous oldtime mining man, professional geologists definitely established existence of the ore body. The two promoters feel sure of at least 100,000,000 tons in the property they have now bought up, and chartered as Steep Rock Iron Mines Ltd. (Joseph Errington, president), with authority from the Ontario Government to issue 5,000,000 shares.

Far from waving his shares in the public's face, Joseph Errington last week clenched his cigar, said he had no intention of putting the stock up for public sale, said he did intend to start shipping Steep Rock Lake ore east to Lake Superior in 1940.

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