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Show Page 4 June 30, 1969 OIL & MINING JOURNAL Outlook seen brighter in uranium The uranium boom, which had its heyday in the 50s and another flurry of interest in the mid-60may be about to regain momentum again. The outlook ahead is for more drilling, more milling, and s, beyond present for an even bigger provinces mid-70future after the These are some of the key points of remarks by Allan E. Jones, manager of the Grand Junction, Colorado j office of the exploration s. Atomic Energy Commission before the Atomic Industrial Forums Mining and Milling Committee in Casper, Wyoming. Mr. Jones explains that while demand up to nuclear-generatin- g the seems reasonably well accounted for by known reserves, there is a good and we at the Rocky Mountain Oil & Mining Journal are here to tell you about it. . . . . . the dreams and struggles, the successes and failures, the excitement and glamour that go to make up mining in the West. . . ABOUT the penny stock market with weekly stocks and quotes and comments on current activities of the market. . . ABOUT over-the-coun- ter O-T- -C new government and private mining publications, regulations, findings, etc. ABOUT LV (TblVT -- s indication that sales commitments beyond that time are small in relation to estimated demand. In assessing the future, Mr. Jones took a look at the past couple of years. During 1967 and 1968 most of new ore reserves were located in areas within 50 miles of existing mills, and any so-call- ed exploration was largely by property acquisition and new exploration in areas of known favorability. More recently, Mr. Jones pointed out, development drilling is remote from existing second-phas- e mills. This drilling began to outline sufficient reserves to justify new production centers. And now we re in what he calls the fourth phase of exploration-movi- ng into remote areas where little or no exploration was done in the 50s, when knowledge of uranium geology in these areas was little more than a gleam in the geologists eye. Mr. Jones classifies as reserves deposits of ores of sufficient, 81J- A for an entire year of Vf WEEKLY MINING & OIL INFORMATION - mid-70- magnitude and; grade, to support all' mining, milling and operating accessibility JUST CLIP AND MAIL THIS COUPON costs and provide recovery within an assumed tly $8 a pound or under for uranium oxide. As of Jan. 1, the AEC had established $8 a pound ore reserves of 161,000 tons of U308. Some 119,000 tons was tributary to existing production centers, and the remainder price-curren- I PUBLISHER: Rocky Mt. OIL & MINING JOURNAL P. 0. Box 19243, Salt Lake City, Utah 84119 Pleas enter my subscription to the Rocky Mountain Oil I MINING J0URNA1 tributary to expected Name production centers. The tributary area is within a e radius and assumes that any ore 50-mil- Address City CHECK ONE: State Zip Code i One Year $10 BROKERS: ! nquirc 2 years $18. 3 years $21 about our special rales for mailing the journal directly developed, regardless' of ownerhip, can pay out the mine capital and operating costs, plus ore haulage within a given price figure Hut the lever which will provide, for the future establishment of new reserves and new production centers is that gap between current commitments and foreseeable demand, Mr. Jones stated. |