We recently came across this February 9, 1934 news article describing the processing of Telegraph Mine ore at the Yucca Grove processing plant. Yucca Grove, California is located at the Halloran Summit exit on I-15, about 3 miles from the Telegraph Mine.
Local officials report that the ore is being drawn largely from two 100 foot shafts on the property and that a third is now being sunk. The No. 3 is down about 35 feet and the last 17 feet has been in ore averaging $15 gold per ton, officials report.
As the price of gold in February 1934 was set by the Gold Reserve Act at $35 per ounce, this means that the average recovered grade in No. 3 shaft ore was .43 ounces of gold per ton ($15/$35). $35 per ounce is equivalent to $587 per ounce in 2010 dollars.
Read more at The Deseret News.