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Show OIL & MINING JOURNAL Page 8 UDmfiitedl Asael T.. Sorensen, secretary of United Equities, Inc., Salt Lake City, states that negotiations with a major oil have resulted in a company joint venture for the exploration and drilling of properties in the Circle Cliffs area of Utah. Three drilling rigs are now at work on properties known as the Claims Chop Rock 17,000 acres) in (approximately Garfield County, Utah, some 80 jniles from irp)?fts HqpDtfoes a proposed uranium mill at Hanksville. James H. Wardle, field manager for the company, indicated that preliminary stripping and drilling of United Equities claims east of the Henry October 20, 1969 vciAmi? jjoooafl dq the Salt Wash formation to fully property showed 46 feet of vanadium and uranium in determine the potential of these 0.020 (4 pounds per ton) of Wardle said Uranium Oxide. sufficient quantity to bear claims. Mr. Wardle noted that the that some of the higher grade additional drilling for the purpose of blocking out the ore four groups of claims east of the ore was encountered at less than bodies. Mr. Wardle stated these Henry Mountains are all located 60 feet below the surface so it is claims are conducive to open pit less than 40 miles from the probable that a portion of the proposed United Equities property can be worked by the mining. open pit method. United Equities also holds millsite at Hanksville, Utah. Stating that the assessment claims in the Rattle Snake Full development of the all properties held by work on same the area in general Group properties will require a great United now has been Equities where there has been some past deal more drilling, he stated. Wardle indicated completed, production. Drilling on the Peterson and It should be relatively easy that drilling in the Circle Cliffs to put this group of claims into area, had been particularly Steward group of claims resulted limited production from the gratifying. He noted that on the in finding uranium at about 80 feet in depth, and on the Everett Brushy Basin member, he Horse Head and Interstate strata properties we encountered ore in stated. However, production properties the d channel at about would be somewhat spotty and is in the Shinarump formation. a feet. 40 One hole on the Interestate the claims should be drilled to Mountains has revealed ore-bearin- g well-define- The crew ,then moved to the Tonsick Group of claims where no drilling was attempted because the property has a windgate capping and would require drilling to a depth of 500-60- 0 feet. However, good high grade uranium is exposed at the face of the Shinarump for a distance of at least Vh miles because of past production from these properties and the exposed faces of ore range from 8 feet to 14 feet in thickness, Wardle said. I believe that this property can be put into production very easily in a matter of weeks, he said. Texon urges U. . use pdlejjes dl5scDs 3II sCdDeUi Mdloiniip Substitutes for copper PHILADELPHIA - The could cut its United States as copper consumption by much has any objection to their Washington - Two top federal before their court. From financial page listings of following through with a ruling judges who are set to decide a major natural gas rate case have stock prices it was estimated in the case. disclosed that they have that either extensive stock holdings, as trustees for or personally former law clients, in the gas and prtroleum industries. John R. Brown, chief judge of the Fifth U.S. Circuit Court of Appeals, and Warren L. Jones, a senior judge of the same circuit, made the disclosures in letters to counsel in the South Louisiana area rate case pending far-reachi- IT IDs ng stock. The use of nuclear energy for electric power In a speech prepared for the annual meeting of the Swedish Petroleum Institute, John H. Lichtblau, executive director of the Petroleum Industry Research .Foundation of New York, said energy electric power generation still faces an erratic period likely to last until the early 1980s before it gets to a stage of mature development. To date, the commercial application of nuclear energy has been limited to the generation of electricity through the raising of . steam and, for the end-usof electric power, this has been of a little significance because it has not yet provided better, more, 120,000 ueres of potential uranium properties in a three-count- y Petroleum area to Sohio Co. for $1,925,1)09. The property is the Ranch in the New Mexico counties of McKinley. Sarciov :l and Valencia, about 10 to 59 miles northwest or Albuquerque. The ranch is in the Lamina uranium minim! district, and "about 25 miles east of the and consumers, along with the Federal Power Commission -- - BONDS - MUTUAL FUNDS Call for information on: BULLION MONARCH EAST ANTELOPE The world, nonetheless, is on the threshold of the Atomic Age, with most new power plants after 1985 likely to be nuclear fuel, Lichtblau said. 35 NORTH UNIVERSITr AVENUE-PIO- FLYING DIAMOND MODERN MINERALS UTAH VO, SALT LAKE CITY TELEPHONE 328-444- 4 0r cheaper power than conventional sources, Lichblau said. ranch for several years, hut it has not been developed or its extent fully di termined. The joint announcement by our new location.... PARKER - JACKSON - MANN, INC Effective Monday, October 20th, we will be located in our new offices on the 5th Floor of the Metro Building at 431 South 3rd East, Salt Lake Gty. These larger, very attractive, and more conveniently located offices will help us to serve more efficiently your needs in the trading of and Over-The-Count- er Mutual Fund securities. L-B- Lake district. A ora uranium deposit, the the on 'known has been body, Ambrosia L-B- 84601 TELEPHONE (101)375-257- 0 er erty Corp. of Albuquerque has sold a one-hal- f undivided interest in . SlForaUlli) N-prop- ALBUQUERQUE, N.M. Reserve Oil & Mint1 nils pipelines, utilities or aluminum, as core materials, a Texas Instruments Inc. official says. steel, STOCKS Sohio Petroleum buys Reserve Oil for gas producers, copper products with copper composites that use stainless whose rates are under review in The judges, members of a the case - thus have until three-judg- e court of appeals Tuesday to state whether they panel that heard arguments in think either judge should be the rate case over a week ago, disqualified. The third member made clear that unless they hear of the panel, Judge George H. from counsel within a week, the Carswell, listed no stock in the court will assume that no one industries. Cin)G,giv STOCKHOLM nuclear Judge Brown holds just over $100,000 and Judge Jones just over $500,000 in gas and oil Lawyers as 80 per cent by replacing solid The replacement metals are in greater and far more constant supply inside the United States tha copper, Arthur Tasker, marketing manager, construction materials, of the companys metallurgical materials division, said during meeting of the American Society of Metals Visit us soon and take advantage of the know -how of our securities specialists. Or call. 328-487- 1 |