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Show Celebrating more than 90 years of service to the citizens of Eureka. Volume Eighty-Nin- EUREKA, UTAH - April 22, 1994 e Price $.40 Number 16 wymmmKmr. Akiko signs agreement with Chief Con to gain 50 interest in Burgin mine Following is a news release from Akiko Gold, giving their account of an agreement with Chief Consolidated Mining Company, providing for the creation of a joint venture for the development of Chiefs East Tintic Mining District properties. Chiefs news release was printed in the April 1 , 1994 edition of the Eureka Reporter. These sixth grade students from Eureka Elementary (top - left to right) Heber Sullivan, Autry Long, Tyson Davis, Daryl Terry, Bart Ryan (second row) Jessie Sharp, Jackie Ezell, RoseAnne Young (bottom row) Tiffany Laird, Heidi Ncdreberg, were all participants in the Utah Power & Light Electrical and Environmental Contest held at the Santaquin School on Monday, April 18. Thirty sixth grade students from Ncbo, Juab and Tintic displayed and presented their science fair projects which were judged by Utah Power employees. Four winners chosen from Eureka were Jackie Ezell, Tiffany Laird, Heidi Ncdreberg and Tony Gourlcy (not pictured). These students will now present their projects at Utah Valley Community College on Wednesday, May 4. Congratulations to these students! Fair committee announces cover art contest for fair premium book CASH PRIZES: 1st place - $25.00 2nd place - $15.00 3rd place - $10.00 Special Needs Division - $10.00 -- 1st place art work will be the front cover of on printed the 1994 Juab County Fair Premium Book. Other winning art work will appear in other locations of the fair book as well. Size of art work should be no larger than 8 12" x 11" -- Art work must be drawn vertically on the paper which will allow for maximum use of space if printed as one of the winning entries. -- -- Each entry must have the following information on the back: name, address, phone number, and name of school. WHO MAY ENTER: Entries should not be mount-- Contestant must be a resident ed, but may be enclosed in a of Juab County (having lived in sheet protector if desired the county a minimum of six ADDITIONAL RULES AND months) GUIDELINES: Contest open to youth en-- One rolled in grades 2 or whose entry per contestant -- Entries will be received at with coincides these age grades the Juab ART SPECIFICATIONS: County Extension Of" -- Fits fair theme: County fice, 160 N. Main, Ncphi, until 4:30 p.m.. Friday. Mav 6. 1994 Fair In The Air -- Winners -- Must will be recognized be original art work -- No in the local media material copyrighted accepted -Entry MUST be in black ink FOR MORE INFORMATION: -- Contact -the Juab County Entry MUST be on white Extension Office at 623-179- 1 paper -- 9-1- M reserves (before expansion by exploration) should yield revenue of $300 per ton produced at a total cost (cash plus capital amortization) of $120. Production is expected to commence in 1996. A recent inspection of the .mine facility and property by Akiko has shown the existing mine-sit- e mill, hoists, railroad tracks and other buildings and facilities are i Akiko Gold Resources Ltd. n good condition and can be has signed an agreement with quickly for ore Chief Consolidated Mining Com- processing. interest in pany to earn a 50 Because the property is locatthe Burgin Mine Property, which ed on patented mining claims, contains a proven and probable silver reserve of 25,526,764 there will be no federal royalty ounces (plus lead and zinc), and burdens, and the only production royalty is 1.7 royalty on a to purchase approximately a 20 small the of portion stock interest in Chief. property. All The Burgin Mine property, necessary exploration and develand the agreed areas of interest, opment permits are in place but comprise approximately 14,500 acres of patented mining claims located in Utah and Juab Counties in the State of Utah. U.S.A. Akiko will purchase 35,000 shares of Chiefs stock for US $140,000 and will make two folk-fooplacements of US $2.0 million into Chief, for which it will receive 1 ,000,000 shares of April 30 is fast approaching, Chiefs common stock. and everyone is anxious to samThis will result in Akiko ple vour favorite dish. Have you acquiring approximately a 20 dusted off your old recipes and percent interest in Chief at US $4 picked a special one for the per share (fully diluted. Chief has annual Folk Food Potluck dinner? 4.5 million shares outstanding). Remember, the dinner and lecThe funds from each US $2.0 ture that follows is open to the million placement will be expend- public and in the past has been a ed by Chief and Akiko for the very successful way to share the the or of exploration property history. improvement of the mine facility. After expenditure of the initial $4.0 million, Akiko will be required to fund the next US $6.0 million, which would include rehabilitation of the existing concentrator. Thereafter, all costs The THS Concert Band went will be shared equally. on a two day tour last week on Based upon geological data April 14th and 15th. They travfrom the property, Akiko and eled to Dugway for the region Chief believe that, with the ex- band festival. The judges had a penditure of $2.5 million for an lot of good to say about the band drill and gave Superior ratings. exploration underground After the festival the band program, the present proven reserve of 1 ,032,173 tons grading drove to Salt Lake, had dinner at 23.1 ounces of silver (and 19.5 Pizza Hut and sat in on a rehearscan ton lead and 5.5 al of the Salt Lake Symphonic zinc) per be increased to 3,000.000 tons Winds. They then stayed the grading 12 to 15 ounces of silver night at the Danish Viking Lodge per ton (36,000,000 - 45,000,000 in Hcbcr, where some slept and ounces), which would provide a others tried to keep the rest from mine life of eight years. sleeping. It is estimated that the mine On Friday, the band went to will "payout' all required Altamont and played for the rehabilitation costs in Altamont High School Band, who two years of production at US arc in their first year of rehears$4.00 per ounce silver prices. At als. This was probably the most US $5.00 per ounce silver prices productive event of the trip. The and current lead and zinc prices, band arrived in Eureka on Friday just the proven and probable afternoon. will require supplementing prior to commencement of production. Akiko and Chief expect to commence a program in the fall of 1994 to expand silver reserves, begin facility rehabilitation, and initiate drilling of several highly prospective gold targets on the property (which include intercepts of 45 feet grading 0.15 opt gold and 28 feet grading 0.5 opt gold). Prior drilling at Burgin indicated strongly mineralized gold bearing structures (Up to 0.41 opt gold) in the quartzite comprising the hanging wall of the East Tintic thrust fault that is potentially mineable in conjunction with the main Burgin ore body. These transactions are subject to acceptance for filing by the Vancouver Stock Exchange and satisfactory financing by Akiko. Phil Notarinni to speak at Tintic d event THS band gets top ratings capi-talmi- nc The Folk-Foo- d idea was born as members of the years ago society sat around the tape recorder attempting to catch and preserve a bit of folklore of our area. The many special foods from different national groups kept cropping into the conversation, and the idea ignited, "why not sample some of these foods?" Thus, the annual Folk-Foo- d Potluck was started. This year, we are fortunate to have as speaker, Phil Notarianni, who will share ideas on "Utah's Cultural and Ethnic Diversity." Using history, folklore, architecture and archeology, this presentation explores the ethnic diversity of Utah and the cultural and political forces that again a shape it. Phil is no stranger to the Tintic area and it's people.. as he did the research and first historical inventory of the area. It was through his efforts the area was listed on the National Register of Historical Places. This program is sponsored in part by the Utah Humanities Council, a state affiliate of the National Endowment for the Humanities. Dont forget the time. Meet at 5:30 for the Folk-Foofollowed by Phils lecture at approximately 7:00 p.m. Both dinner and lecture will be held in the Memorial Building in Eureka. d; |