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Show March 28, 1969 Page 3 OIL & MINING JOURNAL Galena Mine notes new reserves WALLACE, Idaho-T- he annual report of American Smelting and Refining Co. noted significant changes in their in the Coeur operations dAlenes. At the Galena Mine, second largest silver producing mine in the United States, development work during 1968 revealed an increase of ore reserves and deepening of the new No. 3 main shaft from 3,700 foot level to 4,900. Target date for the final lower depth was estimated about 1971. The expanded mill, from 500 employed at the Page, and they in May. will be given preference in hiring Underground work at the new at other expanding Asarco Coeur project, west of Galena, district workings. Asarco listed the Granduc onwed by Coeur dAlene Mines Mine in Northwest British and operated by Asarco, is proceeding with favorable Columbia, in which they have a to 750 tons per day, to is be in operation expected results. THE PAGE MINE, of Kellogg, operated by Asarco, has about depleted its available ore reserves and it is expected that operations there will be discontinued during the third quarter of this year. Company officials said about 160 men are 50 per cent interest and their copper expansion program as a few million. It characterized By Chuck Ilayward factors in 1968 capital expenditures totaling $37.2 the completion of the 10.27 mile haulage tunnel scheduled late this year as a major event and said it was the longest access tunnel to any mine in the world. WE WERE BROUGHT UP SHORT the other day with the re- alization that many younger people of today have never seen a steam Promise oil shale land studies Wyoming Sen. Clifford Hansen has been assured by the Nixon Administration that there will be an intensification of synthetic fuel and shale oil energy policy studies. Sen. Hansen had writtento President Nixon concerning the 'dev elopment of the Intermountain West's vast oil shale reserves as an urgent matter for the nation. Lee A. Dubridge, special assistant to the president for science and technology, replied, "I can assure you that this administra- will intensify, the study effort that is under way. "I am aware of the potential role of synthetic fuel and shale oil in meeting the energy needs of the nation in the years to tion will not only continue, but come, Dubridge added. locomotive and have never ridden on a railroad passenger train of any kind. We can look back on the excitement and debte over the change to deisels as though it were yesterday, and still feel a twinge of nostalgia for the old steam whistles that used to lull us to sleep in our little Nebraska hometown. Sort of makes you feel older, at least to realize that the appearance of one of the mighty Iron horses of yesteryear would certainly cause most of us to stop for a look. Well, a lot of people will have an opportunity to do just that very shortly. Sundance buys offshore claims DENVER-- Sundance Oil Co., cording to Caswell Silver, pres- Denver, has purchased a net 24 ident. The lease has three dually- oil and gas wells per cent lease in the Main Pass Sundance said it plans to parti- area of the Plaque Mines Parrish (County), Louisiana, ac cipate with other working inter- off-sho- re U tah firms WASHINGTON Fourteen Utah companies participated lead zinc mining stabilization pro- gram during 1968, according to a report received from the Interior Department by Sen. Frank E. Moss, in the ests and owners in 12-mo- nth immediate further development and tion in the explora-complet- ed field. Sundance is currently traded over the Salt Lake Stock Exchange. 32-blo- ck and Dec. 31, 1968, nearly $300,000 was issued in stabiliza- Hon payments to Utah's small producers of led and zinc. This represents the third high- est payment total among states This program is one of the Important steps which the fed-an- d eral government has taken in recent years on behalf of our Federal Resource notes growth SALT LAKE CITY-Fed- eral month income of $2,760,550 for the nine months ending January 31 compared to $1,524,200 period. for the year ago Net income before $452,000 compared to extraordinary income was $157,700. Extraordinary income was $1,702,200 and came from sale of marketable securities and investments. Extraordinary income for the was $563,800. year-ag- o period NET income, TOTAL including extraordinary income, was equal to 25.7 cents a share year-befor- (1) Tri State Inc. (2) Big Indian Uranium BARRACO & COMPANY East Broadway Salt Lake City, Utah 841 TWX 0 Tel. (801) 521-332- CLAIMS concentrates sales other $460,000 nothing; income, $55,200 $45,000. ry Lebanon, N.J. 08833 (in case you want to buy tickets which are available on a first-com- e, first-serv- basis.) ed The train, made up of the most modern cars available, will consist of five coaches, a twin-un- it diner, a parlor -- dome car, an observation car and three baggage cars. The latter will be equipped as display cars to depict the history of the American railroad industry from its early days through the present with a peek into the future thrown in for good measure. During its cross-count- ry journey, the train will stop each night at a major city and will be open for public inspection. Included in the display on rail history will be information on the part the famed Comstock Lode of Virginia City, Nevada and a lowly groundhog played in the completion of the last portion of the railroad from Oakland, California, to Promontory Summit in Utah. e We Specialize in over the counter, Intermountain area, MINING STOCKS. We have information on the following stocks: 123 and zinc concentrates sales $949,300 $833,600; copper compared to 8.7 cents the nine months. A breakdown of the latest nine months income compared to the previous period was: Income from Federal-America- n Partners uranium operation, $645,600; lead $1,295,900 ed 15-d- ay small producers who contribute so much to the diversity and of the American economy, the in he tality program, participating Sen. Moss said. The senator noted that between said. Resources Corp. had a nine events of the observance will take place on our birthday May 3. On that day a steam-powerGolden Spike Centennial" excursion train will turn back the pages of hstory to the glamour days of rail travel when it pulls out of New York for a trip to Utah and back. The cross-countexcursion is to be run by the High Iron Company, Inc., P.O. Box 200, profit in program 1962 This is the centennial year of transcontinental rail service. It is being celebrated all across the country during a commemoration of the driving of the golden spike at Promontory, Utah, on May 10, 1869. One of the most dramatic 1 DRILLING INC. Min gran gninimi PnBMU Ceepeey OimM k Help frwfMHii SELL OR LEASE Their fwRithi k IMMhuh or a Contracting Services Major Ceatact: M4-- S NewhMM BMf. uxixii-tiTixir- r PAUL EXCHANGE Sell, lease or option properties to individuals or major companies. Contact: K. D. MINERALS COMPANY P.0. Box 11211 Salt Lake City, Utah 84111 Subscribe to our monthly publication of listings at $5.00 a year. 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