OCR Text |
Show OILS hge6 JANUARY 26,1970 MINING JOURNAL Rio Algom uranium mine takes shape in Utah delay on the nuclear LA SAL JUNCTION San two-yecalendar. Utah-Tis his the Juan County, But, the dramatic upsurge in high part of the red rock 6,000 feet and the peaceful potential of nuclear country energy that got under way in the upward. early Sixties, insures that the Here bad weather or not Rio Algom is developing a major slippage will be temporary. New operating restrictions to the first in the uranium mine be placed on coal mines by the state since the heyday of the federal govememtn are expected uranium boom in the to take some of the competitive Though a new softness has edge from coal. And as Robert Armstrong, developed in the uranium thanks to increasing president of the paretn Rio market costs of reactor construction and Algom Mines, Ltd., noted last problems of locating nuclear September, the increasing expectations are requirements for pollution power plants the uranium still will have a controls have brightened commanding place in the power prospects for nuclear power market of both the nation and plants. While the parent firm is the world through the rest of the headquartered in Toronto, Rio century. This price slippage has, by the Algom Corp. basically is an ar mid-Fiftie- s. experts reckoning, put a American corporation (headquartered in Delaware) and wholly owned through Atlas Alloys of Ohio. The operation is practically all American except for two Gordon Godfrey, general manager, and Robert Sullivan, resident engineer. But for their slight accent, theyre like mining men at home from Butte anywhere to Sydney to Lima. The first step in the mine development is the sinking of two large shafts a production shaft and a ventilation shaft. Canadians on the site M. Each is concrete lined and is about 1 8 feet in diameter. They will reach to the ore zone some 2,400-fee- t deep in theMorrison formation. The production shaft will be for entry of the miners and Brothers Driling Co., Salt Lake City. The ventialtion shaft, now at 1,600 feet is being sunk by 500,000 pounds yearly of Centennial Mining Co., Eureka. uranium oxide to an eastern Assuming a full mining and utility. Thats about half of the milling operation, the Utah operation will employ between projected productive capacity. 125 and 150 persons. If the The question now is whether Rio will build a mill at the site operation is mining alone the job or get the ore processed will employllO, says Mr. somewhere else maybe at the Godfrey. The ore body is considered an Atlas Minerals mill 30 miles to extension of the Alice Mine ore the north in Moab. which lies to the west on But thats still up in the air body the other side of the Lisbon pending tests of economics and Fault. feasibility. The Alice Mine, operated by And while mining generally Homestake Mining Co. is a much shallower ore body. will be by the The Rio Algom Mine ore method, types of machinery to the be used still are under body is much deeper result downward the of and Mr. consideration, says Godfrey. The production shaft, now at lateral displacement of a section 600 feet, is being sunk by Boyles of earth millions of years ago. removal of the ore. So far, Rio has a contract to deliver about room-and-pill- ar - Worlds largest silver , zinc mine a reality The Timmins Mine of Texas Gulf Sulphur Co. is now reality. Reported to be the largest producer of zinc and silver in the world, ore reserves have been estimated at more than 60 million tons. Its presence was made public not without in April, 1964 still aftermath some stormy being pressed in court actions. - One man intimately involved with the discovery is a former University of Utah professor and But these and other events obscured the drama of the methodology of the discovery. now vice president of TGSs Potash Division at Moab -- H. V. W. Donohoo. The discovery, he told a meeting of the Utah Section of the American Institute of Ming, Metallurgical and Petroleum Engineers was something more than luck: - approximating $500 million. The second session that got under way Monday undoubtedly will not be so rough even though the industry still has an ample supply of problems at the Washington level. Import controls, air and water pollution abatement, natural gas supply, and gasoline taxes arc among the major matters carrying over from 1969 into the new year. engineering; careful planning; hard worjc; financial support and from encouragement and finally an indomitable spirit of confidence in the data and prospectors ability. management, In 1957 TGS and Varian mounted on a helicopter and flown at an altitude of about 300 feet. It was field tested on existing mines in California and Canada. Then, after certainnoise were worked out, it was tried over the Timmins area on March 3, 1959. The device, which measures conductivity in sulphide-typ- e deposits, demonstrated unusual bugs President Nixon for System. Under recent I INVEST WITH OUR MARKET SPECIALISTS Salt Lake City 2000 Univ. Club Bldg. 136 L South Temple Phone: 1 guarantor of success. As Mr. Donohoo pointed out, about 60 anomalous zones had been picked and drilled before Timmins. They were great geophysical successes, he recalled, but economic failures. For though they showed high conductivity as sulphides or graphites, they were barren of valuable base metals. The only surface clue to possible sulphide mineralization at Timmins was minor Martin the called exposure One prospectors Out-cro- cabin was on it. Ironically, the outcrop proved to be about 500 feet from the edge of the ore body as shown by later mining. The installation at Kidd Creek is expected to be well over $100 million. DECEMBER 6, 1969 THE OF THE THE MANUFACTURING AND MARKETING OF DESIGNED, HARDWOOD, ENTRANCE DOORS CARVED BY A COMPUTERIZED MILLING- - PROCESS DEVELOPED BY THE COMPANY AND MARKETED NATIONALLY UNDER THE BRAND NAME: PRINCIPAL BUSINESS COMPANY Provo 163 N. Univ. Ave. Phone: 7 374-825- IS Sculptured Wood Products Copies of the offering circular may be obtained from the under signed only in states whe 2 the undersigned may legally offer these securities in compliance with the securities laws thereof; V gw 364-197- a p. Price 2.50 per share for general Inc. air-born- ROCKY MOUNTAIN RESEARCH, INC. Highway appropriations. e by magnetic no is certainly! equipment 120,000 Shares Common Stock ($1.00 Par Value) discussions, however, the hike from four cents a gallon would be earmarked so-call- ed NEW ISSUE consideration should be decide to recommend that additional tax revenues will be needed. A gasoline hike could be a bitter pill for oilmen, who long have contended that such taxes should be used only a support for the Interstate readings indicating an anomaly. It was the first indication of what later turned out to be the Kidd Creek ore body. the terrain was not easy. lying The copter went down in the bush once in 1959. Five years later, Peter White, a geophysicist who figured importantly in the Timmins discovery, was killed in a helicopter crash while on survey. Typing the anomaly to precise map location was difficult. Old aerial maps were useless because timbering had changed the look of the land over the years. In the fall and winter of 1963 and the spring of 1964, ground electrical survey crews located drilling stations. The drilling program was backed by a variety of other techniques to define the ore body. The indication of an anomaly 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 suggestions submitted to INVESTMENT SECURITIES Members Salt Lake Stock Exchange Phone384-299- 5 electromagnetic and magnetic surveys in the area before 1959. A hike in the federal gasoline tax is among the and Company Las Vegas .1721 L Charleston Blvd. area many times. Other companies had flown Associates began planning and Weston OVER-THE-COUNT- vast Canadian Shield. Prospectors had visited the It was in order: Sound design of an airborne geology, geophysics and electromagnetic device to be Congress: New swipes at oil HOUSTON The first session of the 91st Congress handed the petroleum industry a tax hike The location is about 10 miles north of Timmins, Ont., on the 35 NORTH UNIVERSITY PROVO, UTAH 68 SOUTH MAIN SALT LAKE CITY, UTAH (801) (801) 375-257- 0 TOLL FREE from anywhere in Utah: 364-180- 3 |