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Show m university of USKAKSS .WMkt. Atfaric ms MflR IJUALS ' ; .? ; .v- ;-- ';' ? -: f , ,. . - ' - . '.7 ir SyS- 4 J i ''.?', j f. J : 3 I- if kj ' -- : ,v.f r. c . ' :! U fc I ? . A v ; " , N ; , r ? i J i & I.' . f norft .i , : 3 s 1 - , i it VOL. if (: . k I .'T -- v-';1 f. - f I? . ORDER DcfT. i . .W. 31970 . . ( . ' U .&. . . a i .rf s in I f . aViiN (h. wi-- 1 , " , . LM NO. 49 ,ii t : f:i A 1 tSt' f' . i .jrx 5 r. - , r v W. . .1.. FEBRUARY 16( 1970 . ,.i i I i ? . 25 Cents per Copy Mining men converge on Denver for Minerals Week DENVER-Clo- se to 7,000 miners and representatives of related industries converge on Denver during Minerals Industry Week which started Friday, February 13 and ends Thursday, February 19. The record turnout is the 73rd result of the two-da- y National Western Mining Conference which convened Friday and Saturday, and the convention of the American Institute of Mining. Metallurgical and Petroleum Engineers which opened Sunday, February 15, and lasts until Thursday. The display of moon rocks was expected to be of most interest to the general public. The rocks were brought back by Apollo 1 1 and their display was arranged by officials of the AIME. A film on the Rulison Project in western Colorado will be featured in the Firday morning session. Papers on mercury sniffing, the Belser Chart for weather forecasting, accoustical prospecting and marketing of mining property also presented that morning. Sen. Peter Dominick was speaker at the Luncheon on that day following the Gold and Silver Session which examined the marketing of gold and silver and the general world situation in regard to these two metals. Frank M. Howell Jr. of the Homestake Mining Co. kicked off the Friday afternoon session with a paper on the Bulldog Mountain Mill. Dr. Herman Ponder of the Colorado School (Continued on Page 3 (R-Colo- .) Silver New Products silver find extensive, reports say New Utah to OGDEN, KING SILVER PRESIDENT, Cecil Wall, poses in front of Shell Oil Co. drill rig on deep Uintah Basin (Utah) well. Products Corp. has announced that exploration on its property in White Pine County, Nevada, is now in the advanced stages with encouraging results. The drilling is following a silver mineralized zone now known to extend more than 1,400 feet with more than a 200-fowidth, according to information from the company. g Gently dipping silver-bearing limestone, with followed been have outcroppings down the dip, the report said. Thickness reportedly run from ot King Silver has interest in deep Shell well UINTAH BASIN, Shell Oil Utah Companys here has flowed oil through mud from 11, 400 feet, and talk at the well site is that with that kind of pressure the hole could be a big winner. The drillers have decided to go ahead and set pipe in the hole rather than to risk losing a tool into it as Hying Diamond did on Miles No. 1 recently on another hole near here. The frillers still plan to go another 500 to 700 feet. The hole still has the Green River and Wasatch formations to plumb, and the most prolific production of wells in this area have been from the transition zone between the two. The drillers announced that 1,568 feet of oil was recovered on a drill stem test about 100 feet back up the hole. Shell Oil Company and King Silver Corp. of Vernal are participating on the well. King Silvers participation is from 5 to 6 per cent depending on spacing regulations which haven't been established for the area. silver-bearin- 10 to 40 feet. The property appears to be King Silver amenable since most open pit mining, mineralization so far has been found to be less than 160 feet below the surface with high grade areas around hole No. NP9 intersected at only 22 feet below the surface indicating high grade silver mineralization, the report said. Sixteen holes have been of the completed up to a 324-fodrop. Most of the silver mineralization has been found at the shallow depth. The area being untized by New Products will include more than 1,000 ot acres consisting of 50 claims. The company says it intends to continue its exploratory drilling program to determine the extent and quality of the silver mineralization indicated and to determine if such mineralization is of commercial value and quantity. Consulting geologist Einar C. Erickson of Las Vegas, has advised that in his opinion the exploratory program will be completed in 30 days and the results of the drilling can be analyzed for values and quantities, the company reported. James L Robertson, president of New Products, stated the company intends to advise stockholders promptly of such results. was recently bidder at $53.75 of named high tract 50, five acres of tribal lands offered by the Uintah Ouray Agency lease sale, and also bought tract 3 for $51.75 and the second highest bid. King Silver also participated with Maes Tadlock for tract 58 to $45.57 per acre. The tracts are in the area of Mountain Fuel Supplys Cedar Rim field discovery of last year. The well is currently producing 888 barrels per day. King Silver president Cecil Wall has announced his company has a five per cent undivided interest in a 4,500 acre tract 1 1 2 miles west of the MFS well, giving it acreage on both sides of Directors okay merger of Stardust, Sierra Trading the Cedar Rim well. approval. The acquisition is subject to approval of shareholders of both companies. The companies said it is anticipated that the merger will be completed within 60 days. Sierra said it would issue 8,574374 shares of common stock in exchange for the assets The Shell Oil Miles No. 1 was started Dec. 6th of last year. Drillers say the well is notable for about 35 feet of good sand development depth. at its present spacing in the area is expected to be determined at a Feb. 17 hearing for Chevron Well DENVER-Direct- ors of both Sierra Trading Co., Denver-base- d oil and gas exploration concern, and Star Dust Mines Inc., an Amarillo, Texas, real estate and mining company, have approved the acquisition of Star Dust by Sierra for stock valued at about $9 million, according to Wall Street Journal. Sierra directors also authorized an increase in common shares to 25 million for million, subject to shareholder 10 of Star Dust, which has 41 million shares outstanding. Sierra said it would have about 17 million after the completed. shares outstanding acquisition is Sierra also said it- - would receive $1.6 million in financing from Star Dust to be used for retirement of debts and operating capital., Sierra has oil and gas producing properties in the Rocky Mountain states, Alberta, Canada, and the South, including an interest in more than '200 producing wells and oil reserves estimated at three million barrels. The company was dormant as an operating entity until 1968, when it earned $30,029, on revenue of $346,672. For the six months ended June 30, Sierra reported net income of $282,576, or four cents a share, on revenue of $1,204,530. Vernon Huff, Sierra president notes that the results represent an 840 increase from the entire year of 1968. Sierra is drilling an offset well in the Homestead field in Big Horn County, Wyo., where the ' company already holds an interest in three producing wells block. Sierra on a 92,000-acr- e also is drilling a wildcat well in Kimball County, Neb. Star Dust owns 55 acres of commercial property being developed on Interstate Highway 40 in Amarillo, Texas, and an additional 45 acres on the same tract, an office building in Amarillo and 20 copper claims in Arizona. r six-mon- th |