This item was issued in 1854, just as the Portage Lake area was becoming the most important center of copper mining in the Lake Superior area.
The next item, a sight draft, was issued by the North West Mining Company in the 1850s. The company was later reorganized as the Pennsylvania in 1861. This same property was combined with the Delaware in later years.
Note the location as being Houghton County. Remember that Keweenaw did not become an official county until March, 1861.