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Show ON-CIRCULATI- flojtszr Ww maricoM "VW., ?0, 'O- - fV Tintic Lead sells property for $2 million SALT LAKE CITY-Ti- ntic Lead Co. and Basin & Range Exploration Co. entered into an with exchange agreement Westland Minerals Corp. for conveyance of four groups of their Nevada joint venture to Westland for an eventual purchase price of $2 million, not including a substantial consideration as an advance payment, according to an interim progress letter to Tintic Lead stockholders. Earlier in the year it was announced that 716,500 shares of Horn Silver Mines Co., owned raC2S? Vol. 1 by Tintic, was being sold to Arthur G. Linkletter and Associates of Los Angeles for $143,300. Stockholders also were told that Tintic has purchased a concentrator hydrometallurgical in and plant Salt Lake City and is its surveying property at Frisco for a suitable site for erection. When the survey is completed situated efforts are in the vicinity of Winnemucca, Nev., on one of a large number of large blocks of ground acquired from O.R. excavated all drill stations some 6,000 feet from the portal and properly under option. completed its rehabilitation of the 600 level of the Cactus Mine, program at Marysvale, Utah. Management of Rex has PRESENT EXPLORATION which, if company, consummated, will materially division of Rosario Mining Co. has increase the value of Tintics equity. Robert A. Hunt, president of Stockholders also were Tintic Lead, said the outlook for informed that Tintic acquired a substantial stock interest in Rex Uranium Co. during a drilling The exploration and underwriting and is negotiating a merger agreement with another presently are drilling the downward extension of Hu and necessary grading accomplished, the plant will be New York Honduras and moved onto the site at the mine. undertaken a Registration Maunula. Significant gold and orebodies discovered previously silver values are present on the surface and a large number of during surface drilling, the claims are being located by the report continued. company adjacent to the Sf metals which form the value of Tintic Leads ore reserves are excellent. The stockholders meeting will be held about the first of June. GXiX!DKJii0G3 No. 13 May 26, 1969 25$ per copy Merger Galls E. Antelope Amazon G & S Shareholders are being asked to approve a merger between East Antelope Corporation, a Utah company, and Amazon Gold and Silver Mining Corporation of Nevada. East Antelope will be the surviving corporation if the proposal Is approved, with two shares of Amazon Gold and Silver exchanging for one of East Antelope. . According to reports from East Antelope, Including a special financial report on Ama- zon, the merger would bring the valuation of the surviving corporation to over $14 million. Amazon SILVER MILL at Capitol Camp In ger with Amazon Gold & Silver Mining Corpora-Neva- da one Is of four mills which will be In Hon, currently being proposed by company by East Antelope Corporation If a mer- - agement Is approved by shareholders. GOLD AND man-operati- on owns gold, silver, uranium, tungsten, molybdenum, copper and lead properties in the states of Nevada, Colorado, Utah and Arizona, according to the special financial report distributed this week to shareholders. The Amazon properties include the Star and Exchequer mines at Cherry Creek In northern Nevada, 300 uranium mining claims in Montrose and Moffat counties, Colorado, leases on 16 acres of tungsten and molybdenum tailings located in Salt Lake County, Utah, 17 patented gold lode mining claims near Lake Mohave 50 miles south of Las Vegas, and 12 copper, claims gold, and silver In Mohave County, Ar- izona. Amazon also owns a portable 200-to- n gravity mill which Is In place at East Antealready lope's Golden Amethyst gold mine near Winnemucca, Nevada in the first stage of a joint operating agreement reached by the two corporations earlier in the year. The addition of the gravity mill will bring to four the mills currently being operated by East Antelope Corp. Other mills include a 200-tp- d flota- tion mill at the Amazon Cherry Creek property, a tungsten mill in Salt Lake County, Utah, and mill at Oceola, Neva 100-tada for gold and silver. A uranium mill to process pd ores on property owned by East Antelope In Moffat County, Colorado (and the Amazon claims if the merger is approved) Is currently in the process of being built In Salt Lake County under the direction of the cor- poration metallurgist and chief engineer. It will be designed (Continued Page 4) Samuels on supports forest road for ASARCO mine IDAHO GOV. DON SAMUELSON FALLS, Idaho Some 250 persons joined Idahos session, in Idaho Falls on an application of American Smelting & Refining Companys to build a road into the White Cloud Mountains of Central Idaho. attended a ur Conservationists' have strongly opposed opening the area with roads, and, of the 60 individuals testifying, about three-fourth- s the permit. opposed granting industrial and representatives in support of mining mining Service hearing in Boise where the governor testified. Asarco officials contend the previous mine would be a valuable development, prompting the economic asset to the area and resignation of the chairman of the Idaho Parks Board, Ernest E. Day. I dont see any sense being part of a team which doesnt have enough regard for our resources to better differentiate between uses, he stated after leaving a Forest said they anticipate the mine would produce more than $1 million annually in tax money local for stateTheand area of the government. proposed mine site is near Castle Peak, about 35 miles southwest of Challis. Asarco wants to build a road into the area giving it access from U.S. 93. SAMUELSON SAID he had come to the conclusion that in the final analysis, the overriding would urge that we single-minde- d no group permit to belittle the capability of the federal multiple use conservation program, he said. Our great agricultural, mining, timber and I importance of development tourist industries are Ihe transcends other aspects of the matter. foundations for most of the He does not believe there is a threat of widespread violence to the White Clouds if the mine permit is area, approved. states economy. The raw materials are here and should be exploited to the fullest possible extent. , |