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Show OIL & MINING JOURNAL Page 4 September 8, 1969 Western Mineral starts Eureka shaft Utah EUREKA, be Western Stales Minerals announces that they have commenced sinking a 1300-foo- t shaft on the Crown Point and East Crown Point properties, located in the Tintic Mining District near Eureka. John Larsen, president Western that- States in - 800-foo- of said to the a shaft, 500-fo- ot drift will be driven fault, of diamond drilling will be done to locate or block out ore bodies that could be located in this area. complete capital again becomes available to explore favorable targets. He said that in the past years Kennecott has discovered, and currently is producing the Burgin Mine with reserves estimated in excess of 250 million tons, and now the Trixie. Both of these mines are located on the Sioux-Aja- x fault which has been a localizer for ore in other cent) but enough per information was obtained to conclude that an ore body could exist at depth in the bluebell limestone host rocks. The size and grade of this ore body is unknown, but if it is similar to surrounding mines, it could be a very profitable operation, Larsen manager has is Iron the famous Tintic District which has Mining work completed, including steel head frame, hoist house and hoist compressor building, dry and shop, timber framing buildings, etc., and the shaft presently is down 125 feet with satisfactory progress made. He hopes to complete shaft in less the 1300-foo- t than a yea FINANCING of the project is by Western States Minerals, a $75,000 loan from the office of Minerals Exploration, and a joint agreement with Vipont Mining Co. of Lander, Wyo. Vipont is supplying up to $200,000 for 50 per cent of the net profits that will result from the operation. Cost of the total project will WORK HAS COMMENCED ON SHAFT at Western States Minerals property in the Tintic Mining District near Eureka, Utah. A $75,000 loan from the Office of Minerals Exploration is aiding in exploration work on claims. S. Africa been active as a producing district since the last century. Glenn business mines in this life. Larsen has been in and worked in the Tintic nearly all of In addition to the work they are doing in Tintic, Glenn Larsen and his sons, Jack, Les, and Lloyd are engaged in other activities, firm to open S.L. office and Engineering Mining Crown Point Mines are Technical Services, located in of this project and all surface Mine, Blossom, and Eureka Standard Mines. These mines have produced more than $200 million worth of ore. The Crown Point and East believes. LARSEN mines in the major district Mammoth . GLENN shaft Larsen remarked that it was a welcome feeling to know that with a little raise in the price of minerals, geochemical has been completed on the properties. Larsen said this work indicates possible hidden ore zones similar to the hidden ore zones in the Iron Blossom, Trixie, Eureka Standard, and the Burgin. A drilling attempt was made on these properties with very poor core recovery (about 5 analysis Kennecott s was sunk on the Trixie claims and is the newest discovery in the Tintic District. Sioux-Aja- x A a shaft on the t to properties. intersect the then 4000 feet half adjoining property to the east, and recently cut valuable ores in a drift that they are running north from their property. It has been stated that the ore is high grade copper, gold and silver similar to the ores found in adjoining Minerals, addition 1300-fo- ot approximately million dollars. John Larsen said Kennecott Copper has just completed a (METS) Johannesburg, South international Africa-base- d mining-consultin- company, will g open American operations offices in Salt Lake City. Chief mining engineer for the American operations is Victor M. Reinecke, who has long been identified with mining, shaft most of which are in sinking and tunnelling for the Wyoming. in South Africa. WESTERN STATES Mining gold industry and Contracting, of which they are sole owners, is operating mines in Gas Hill LAVA FORMS PLATEAU and Crooks Gap, Wyo. They have staked more than 8,000 Between 10 and 18 million lode mining claims and have ago, enormous amounts two drill rigs doing their own years of lava welled up through drilling and contract work for fissures in the earths crust major companies. and flooded adjacent parts of Washington, Oregon and Idaho to an average depth of 1,800 feet, forming the Columbia River Plateau. ' g ? J Immediately No 50,000 or for Needed well-found- equivalent line of credit. growth in young, but business. ed Good interest Cdt 571-180- andor return ,, 1 stock options. 359-639- 0 Holes Barred come up with an answer. and Company .Inc. INVESTMENT SECURITIES Lake Stock Exchange INVEST WITH OUR MARKET SPECIALISTS OVER-THE-COUNT- Salt Lake City 2000 Univ. Club Bldg. 136 E. South Temple Phone: las Vegas 1721 V E. Charleston Blvd. 384-299- S 364-197- OFFICES: 1 Provo 163 N. Univ. Ave. Phone: 374-825- 7 J 2050 University Club Building 136 East South Temple Salt Lake City. Utah 84111 P.0. Box 940 Ely, Nevada 89301 (702) 2227 River Road 289-212- 6 has been ofWest Driefontein manager Gold Mine, the richest gold mine in the world. He later was general manager of Libanon, another major gold producer. In Salt Lake City on Friday, Mr. Reinecke noted that world, gold production has probably peaked and will decline. The potential of new mines discovery is being cancelled out by mines that are shutting down. Quite a few South Africa shutting down because of mining economics, he said. South African mines receive no for instance, government aid in pumping out subsidies-exce- pt, water. Mr. Reinecke who holds a degree in engineering, mining and metallurgy from Witwatersrand University, Johannesburg, is a member of the South African Institute of Mining and Metallurgy. TOSCO announces milling activity start of Smelting and Refining co. milling operations at the Keystone Mines Co. holds a lease on the property. Keystone Mine, Crested Butte, long-terColo., was announced by H. I. The mill can process 300 tons Koolsbergen, president of The of ore daily, producing silver,, Oil Shale Corp. (TOSCO). The mine and mill are being lead and zinc concentrates, operated by Keystone Mines according to Koolsbergen. The Co., a joint venture of TOSCO first carloads of lead and zinc Mines Corp., wholly owned concentrates were shipped last NEW YORK-T- he m subsidiary of TOSCO, and of Me week. Minerals Drilling, Inc. is ready to take on your hole drilling problem, whatever it is and wherever it is. And Members Salt Mr. Reinecke At full operating capacity, H, Inc., a corporation owned by McFarland and the mine and mill will employ and approximately 70 men. Plans Hullinger, Tooele, Utah. The mine property is owned call for the production of more by Park City Consolidated, Salt than 1 8 ,000 tons of Lake City, and American concentrates annually. |