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Show Page 4 JANUARY 26, 1970 OIL & MINING JOURNAL Coeur Project discovers silver dMum which are considered to be favorable host rocks for the ores of Silver Belt, Rice said in the feet of ore assaying 39.9 ounces of silver and 8 per cent copper that per ton, said Rice, adding the remaining seven feet assayed 27.6 ounces silver and .6 per cent copper to the ton. Additional drilling is to be done to further explore the area and determine the extent of the mineralization and work is also to be undertaken on the level to explore for 3400-fothe possible upward extension, of the mineralized zond, he said. In the same drill hole, 356 feet beyond this zone, there was a second intercept which assayed 109.4 ounces of silver and 5.5 diamond drill station, per cent copper across a width intersected a vein with high of 1.3 feet. silver values." The tunnel on the 3,400 Rice said that assays of ore level, which eventually will from the vein show 52.9 ounces connect with the downward of silver and 2.7 per cent copper projection of the Coeur dAlene Mines shaft, has been turned per ton. Diamond drilling is now northerly, and will proceed in underway to determine whether that direction for 1,800 feet this is a new vein or a faulted where it will be turned westerly section of the 356 vein. A diamond drill hold in the and advanced to the area of the Coeur dAlene Mines shaft, and previously unexplored southeast area of 3.400 level has then go on to the Camp project encountered the second find - a area, said Rice. The drive will be in Coeur g structure 13 feet wide. dAlene Mines ground for the Samples from the drill hold total distance and will prospect a made by the operator, American virgin area in the footwall of the Smelting and Refining Co. of major fault structures in the St. Wallace and New York, show six Regis and Revett formations New discoveries of silver ore have been disclosed by recent of exploration on the 3,400-levthe Coeur Project in the Idaho Silver Belt west of Wallace, Idaho. This is in addition to ore discoveries on the 3,100 and 3,400 foot levels which have been previously announced, said Justin L. Rice, president of Coeur dAlene Mines Corp. of Wallace, las week. The first of the three new discoveries was made when a crosscut, driven southerly to prospect for extensions of the 356 vein and to establish a el w By Chuck Hayward Last week we commented (with tongue in cheek, somewhat) on what would be a proper reward for Richard Blackburn, a financial columnist for the LAS VEGAS SUN whose mention of our subscription special in his column (nought us several new subscriptions. This week we have a reward for our readers. We would like to take this opportunity to announce that we have negotiated with Mr. Blackburn to publish his column "IT'S YOUR MONEY" weekly in the Rocky Mountain Oil & Mining Journal. In a very short time you will be able to read Mr. Blackburn's interesting question-and-answ- column in the Journal. er We're certain Mr. Blackburn will welcome questions on investment problems and opportunities from the readers of the Journal, but we'll let him set up his own system for submitting questions since he's over yonder in Las Vegas and, after all, it is his column. impressed with his knowledge of the securities business and the wide variety of problems to which he addresses himself. SALT LAKE announcing printed Silver and Mining Co. announced this week penetration of the target area of its Taylor tunnel near Mackey, Idaho. The new 1537-fotunnel was planned to intersect and explore several structures while driving toward the old Horeshoe shaft to develop known ore bodies of undetermined lead, zinc and silver values, Robert Finder, president, said. It has now shown several a DEPARTMENT: a "tombstone" new Regulation advertisement issue for A MINES, INC. The advertisement was VEDCO-WAHW- AH placed by Bonneville Securities of Salt Lake City, the underwriter, and in our version the number of shares was listed as 300,000. We hereby make a retraction to this advertisement stating that the number of shares offered is actually 100,000. The corrected elsewhere in the Journal. advertisement ot reportedly Shortly after the first of the year a large hold boring maching will be moved to the Coeur several project to drill between 3J00 connecting raises and 3,400 levels to be used for ventilation and to facilitate the mining of ore between the levels. At the Camp project, the westerly drive by Asarco is underway from the 1,400 level of the Coeur dAlene Mines shaft and has advanced 123 feet, the report said, with work now on a schedule and a daily advance of 12 to 15 feet ay expected. This work will explore 2,100 feet of the favorable St. contact zone Regis-Reve- tt and Mineral Polaris the between Point faults in ground belonging to Coeur dAlen Mines Corp. and an additional 2,100 feet in the Camp project area. zones worthy of further CITY-- US ot we crosscut U.S. Silver & Mining in target area We think you'll enjoy him as much as we do. Look for his column soon in the Journal. Last week This should reach the projected area of the 356 vein within an additional 400 feet. silver-bearin- We've seen several samples of Mr. Blackburn's column which appears Sundays in the SUN, and admit to being very APOLOGIES AND RETRACTIONS report. Asarcos crossuct from the 2,800 level of the Coeur shaft was advanced 376 feet during November and is now about 800 feet from the shaft. oxide ores up to the late 1920s. Sulfide deposits were located in the early days but not mined because of processing and marketing conditions. Future plans for the Horsehoe Mine project include installation of an underground hoist and refurbishing of the shaft and then development of ore zones on all levels. As development progresses in determining the extent and nature of the ores, plans for a flotation mill will be formulated, Finder noted. exploration and the last 27 feet have penetrated a virgin sulfide copper-silve- r body with the face still in ore. Preliminary assays from the copper zone show a total copper, silver and gold value in excess of $34 per ton. The Taylor Tunnel was portaled in September 1968 and designed to intersect the Horsehoe shaft at the 175 foot leve. The Horsehoe Mine was a major producer of lead and zinc This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The offering is made only by the offering Circular appears NEW ISSUE Q JANUARY 12, 1970 E We understand that New Products Corporation of Ogden, Utah, has completed its acquisition of Atomic Fuel INVESTESTATE Extraction Corporation. Details of the transaction will be forthcoming from the company next week. A Real Estate Investment Corporation 3,000,000 Shares Common Stock (Par Value $0.05 Per Share) Offering Price $0.10 Per Share - 9 lfJ8 8 Copies of the offering circular may be obtained from the under signed only in states where the undersigned may legally offer these securities in compliance with the securities laws thereof; bavo profit potential RANGE 4c TO $40 PER SHARE INVESTESt East gold ind uranium stocks and selective We stocks. penny mining accept collect calls on buy orders. Wo specialist in silver, J. H. i DILLON & CO. W. 412 Sprague, Spokane, Wash. ff2blt Tel. 131-443- 1 Member Spokane Stock Exchange immmmmmmmmmmmmmmmmmmmmmmwJi South Temple Salt Lake City, Utah 84102 731 1 (801)363-695- 3 ATE |
