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Show f &S$ rjjmjnr ? arrr iy,rv " "! ' 'Aj-wiaccar- utau Hi J7 C 4 r LAKE VALLEY SALT $ r RICES H' COrrER GOLD ZINO SMELTER (H m. mv bImAI SILVER LEAD, (ftf (H IAS) ) i .. HVA ISS M.M .E4.S1SS .1SSS Mining, Oil, Financial VOL. 1 8, NO. 28. One Year $2.50 Salt Lake City, Utah, August 1, 1947, Development Needed' to Determine Ore Reserves Following li the second Installment of a paper presented before the Rotary Club In St. Louis, Missouri, June 26, 1947, by Howard I. Young, president American Zina. Lead and Smelting Company, St. Louis, Missouri, wherein Mr. Young presents vital information regarding the status and possibilities of the Nations ore reserves. The consumption of metals since World War I has substantially increased. It is stated that the world consumption of metals within the past forty-fiv- e years has been more than the total consumption of metals in the world prior to 1900. You will probably tie interest- - THE MOST PREMISING ALTA ore strike in recent years has been reported on properties under lease from Wasatch Mines Company. Located, in Little Cottonwood Canyon, some 25 miles southeast of Salt Lake City, the property where the strike was made, to- gether with adjacent areas, is the scene of in- Subsidy Bill Paves Way For New Work Some incentive was extended to mining firms this week with fir si v . thsJfeoate oobill extenproviding for a two-ye- ar sion of tiie government subsidy program on copper, lead, zinc and manganese. Appropriation The new measure authorizes the Reconstruction Finance Corporation to spend up to $35,000,-00- 0 in each of the fiscal years 1948 and 1949 for the purpose of encouraging development and ; production .of lead, zinc, copper and manganese ores. While mining men generally have been divided as to the advisability of continuing subsidy bill payments,' passisng of the unremoves the substantially certainty, at least for a period of two years, that has surrounded the metal price picture. StabilisRtlon The bill has gone to the White House for the presidents signature. If his action be favorable, and the measure becomes effective, the metal price structure will be stabilized for a substantial period. Thus will operators be able to plan fairly extensive and exploration development programs. It is anticipated that as a result of this condition, a wave of new activity will sweep the min-in- g states and will be accompanied by a substantial increase in ore production. creased public interest. The above photo taken from the Dwyer Tunnel of Alta United Mines Company is looking toward the surface proximity of the new strike as indicated by the X. Surface building to the left is portal of the Howland Tunnel outlet for properties of Columbus Rexall, West Toledo and Wasatch Mines. Promising Ore Showing Opened at Alta Mine The new ore body opened recently in properties of Wasatch Mines Company located at Alta, Salt Lake County, Utah is yieldand copper ores, ing steady shipments of high grade silver-lea- d it was disclosed in Salt Lake today. ..in xrais from the Wasatch Drain Tunnel In property operated under lease by Tony Jacobsen, A. J. Seland-e- r, secretary-treasur- er and manMines of Wasatch ager Company reports. Cutting Into the base of what High Grade Ore is believed to be the Chinle Smelter settlement sheets dis- shales, drillers were reported this week to be making encouraging close that two cars of lead-silv- er progress at the oil test near ore shipped on June 25th con- Vernal, Utah, being projected by tained values having a gross Vernal Oil Sc Gas Company. Now down some 218 feet, the worth of $140.58 and $115.60 per test has as its first major obton respectively. The one car of the Weber Formation, 48 tons grossed $6460 and the jective world other car of 50 tons grossed prolific sands of the nowDue to Field. famous Rangeley $5505. location of the well, howevei, Values Increasing it is anticipated that this formation may be productive Another car of 63 tons, shipped reached at a depth considerably strike from the new July 9th, in the less than that grossed $5046. Grab samples tak- Rangeley Field.necessary en of ore mined after that date With drilling operations being showed values as high as 163 handled by J. I. Miller and Braounces of silver, and 53 Morgan, well known drillers, lead to the ton, indicating that dy and geological work projected value of the ore is increasing. by H. L. Rath, prominent geolCopper ore shipped from a dif- ogist, the test is being watched ferent vein in the same area as with intense interest by Utahs vein contained general public as well as oil the lead-silv- er copper valued at from $43 to followers throughout the nation. $49 per ton. 255 tons of this ore were shipped between June 4th Heres to the man of 60 and past and July 16th. Who lived his life and lived it fast. In addition, two carloads of the copper ore is now at a Salt Heres to the girl who is twenty Lake Valley smelter being samand four Who sat on .his lap and begged pled. While size of the ore body is for more. , not known, it is indicated that But all he could do was buzz and buzz it is of substantial proportions. Seven men are operating the And tell her what a good wuzzer he was. lease. New Oil Test Near Vernal Making Progress Western Chromite Ore Tests To determine the best way to produce commercially - acceptable chromite from western, ores, Bureau of Mines metallurgists have conducted a series of laboratory experiments on chromite or samples from five western states California, Idaho, Montana, Oregon,' and Washington According to a report released today by Dr. R. R. Sayers, bureau director. Representing a part of the bureaus wartime program for increasing domestio reserves of strategic minerals, the studies were conducted at the Salt Lake off-gra- de ore-dressi- Metal Mining Industry of Utah ng City, Utah, experimental station. A dozen ore specimens from the five states were subjected to a variety of metallurgical treatments, including tabling, flotation, . and . magnetic separation tests. Results of the tests showed that four ores the Fairview ore from California, Dry Camp and Softly ores from Oregon, and the Twin Sisters ore from Washington were amenable to the production of. high-quali-ty chromite, the report reveals. The remaining eight ore samples. qpuld .not. be successfully treated, by similar methods, it adds. N V i ... U- - i ed to know that during World War II substantial quantities of some 25 to 30 minerals and metals were used that were not utilized in the successful conduct of World War I. We were called upon to bring minerals and metals from all parts of the Allied world in order to fill the urgent requirements of the armed services. In think I am correct in stating that through carefully managed conservation of consumption for civilian uses and full cooperation of all producers for civilian uses and full cooperation of all producers in the Allied world, there was no important war program deferred at any time because of the lack of minerals and metals. Producers in Australia, South America, Canada, Mexico, Africa, and India were all confronted with the same problems that we found here in the United States, namely a shortage of adequate manpower to keep production at the maximum and, at the same time, continue to keep their mines properly developed. Today a substantial percentage of mine labor in practically all of the mineral producing countries is necessarily being used on development so as to get the mines in physical condition for increased and more economical production. It --will- require several years before development in our domestic mines and the mines in the world have reached a point where maximum production from all propertries can be maintained." Those of us in this section hear a lot about the exhaustion of the mineral resources of thees Tri-Sta- te District, which com-prisnortheast Oklahoma, southeast Kansas, and southwest Missouri. It is true the ore reserves in these sections have been reduced materially. The tenor of the ore being mined is much below the average mined from 1920 to 1940. The production of this field is now one-thi- rd of what it was in 1925 and 1926. Costs have been substanit absotially increased, making to have lutely necessaryto maintain high presprices in order ent production of zinc and lead. The production in this district, however, at the present time is approximately the same as the production that was coming out of the field in the early years of World War I. The Oklahoma District section of the Tri-Sta- te was developed and brought into production in the latter part of World War I and reached maximum production in the early . 1920s. Every mineral deposit has its limitations. A number of the mineral deposits in the United States are not fully developed. This applies to some of those that have been operating from thirty to fifty years. Most of the major mines now operating were found and developed from surface outcroppings. This is particularly true in the Rocky Mountain Section, the Tennessee mines, and the New York and Virginia mines, as well as in our own southeast Missouri lead mines. You will probably be interested to know that Mine which was brought into production over a hundred years ago, is still a grood producer of lead. In the future, new mines will have to be developed from ore bodies discovered- far beneath the surface rather than from surface outcroppings. This will mean that prospecting for new ore deposits will henceforth be much more expensive than In the past. In the Last ten years the development of geo- - . La-Mot- - (Oontlnued On Page S) te, Law Suits Still Plague New Quincy SALT LAKE CITY improper sale of 150,000 . S,We!ty A, ? 8ale surrender stock, and a temporary in- -j unction- to preserve the status nfflf?01 - quo gr present existing in the corporatjsn Decision in a previous suit books and records to the defendants named in the Pfe!fnt suit, who were plaintiffs ?b prior suit, has been J the State Supreme 4 now writs the action SPyA"body, when the transcript ap-rftn-rfd nd bn There is also still pending on appeal an action involving the Issuance of 200,000 shares of treasury stock, which was sought 1 be cancelled in an action brought by Mr. Floor some time ago. It is also understood that an appeal is likely in a third case, involving the ouster of former directors and Installing the defendants in the latest suit as directors, and, that such appeal will b taken before the of the statutory appealexpiration time. Interest in Utah Oil Lands At High Pitch Representing a spread of more 64,000 acres, in Uintah Special Meridian applications have recently been placed on record at the Salt Lake City federal land office by N. G. Morgan of Salt Lake and also Vincent and James Carter of Cheyenne, Wyo. Other spreads by various parties were detailed in southwestern San Juan County; Cane Creek an Salt Valley sectors of Grand County; Green River Section of Emery and Grand Counties; Nephi section of Juab and Pleasant Valley are of Uintah County. Action was also noted in southeastern Utah County and north of Summit Point in San Juan County. than Doctor: Young man, what you need is exercise. By the way, married? Young Man: Just a month today, doctor. Doctor: Well, well and as I was saying, you need exercise the outdoor kind! We just heard about a fellow who received a broken amt fighting for a womans honor. . . it seems that she wanted to keep it I T shire! of treasury stock in the New Quincy Mining nnMwi!d i,ThIrd Distr& CoS hy Robert E. M. B. Johnson, and ? M. on behalf of them- rind u11 ?ther stockholders stated of New Quincy Mining Company. list Nick Floor, J. TAheTplaTlnt Kahn, Harold Bowman. R Cienny, Ward R. John Cairo, J. CarlosMcAlister Croft as among defendants to the action Inadequacy of sale place, with Partial payments being made, and attempt to voting control of the Company auiong the alleged as a basis for groundsaside setting the Plaintiffs seek nul- - T- |