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Show ftetanoL.C , t fojtsr-dW uNlVi r. Siry - wi. Bulk Rata U. S. Postage P.A I D Brigham City, Utah Permit No. 14 7 (ROCKY MOUNTAIN Qt Afijg Joufh Vol. 1 No. 1 March SALT LAKE CITY, UTAH 1, 1969 East Antelope on "ready" Nevada claim TEN MILE, Nev. Production on what may prove to be one of the richest U.S. gold finds of the past 50 years will begin within 30 days according to the new owners of the Golden Amethyst mining claims one mile west of here. East Antelope Mining Corp. officers say milling facilities have been moved into place on the property and "production is waiting on the weather." East Antelope purchased the eight Golden Amethyst claims after court action returned the claims to their original finders Elmer Gordon, his son Marion, and Ed Thomsen, a re- tired AERIAL VIEW OF GOLDEN AMETHYST mine near Nevada, shows two dozer cuts which cut across the main vein. Rich gold ores have been Nevada Highway Dept, ployee, all of Winnemucca. a,' taken from the cuts. East Antelope Mining tion will use strip and open pit mining tQ develop the vein, eventually going to underground mining methods. Corpora-Winnemucc- em- Headlines in West The Golden Amethyst find in September, 1963, made headlines in f' mining-conscio- us West, publications of the as the ore, bearing rich "clusters of wire gold" according to the Humboldt County (Nevada; Bulletin, assayed to $10 to' $15 per pound. Elmer Gordon was quoted assaycan Oil Shale, now holds intents ing the ore samples were "too valuable to be sold as gold. Theyre covering an as yet untested and unmore valuable as mineral specproven process for recovery of hyimens." ' drocarbons from oil shale and other . Also discovered were specimens hydrocarbon formations by plurality of fern gold and nuggets. of underground nuclear explosions, The area has a history of rich and a method for accomplishing what pockets of gold that pinched out fast, is presumed a more economic way but also marks the Daisey gold of drilling a nuclear entry hole into claims, originally the King Gold formations. claims, which have produced high grade ore since the 1930s. Firm sells 120,000 shares Some 120,000 shares and 36,000 warrants in A merl- Oil Shale Corp., Salt Lake City, common-stoc- k in its registration statement with the Securities and Exchange Comml-ca- n Ssion, American Oil Shale noted that holds state and private oil shale leases in Utah, as well as regular oil and gas leases, jt also noted the tentative state of 0il shale recovery techniques and were sold through underwriters in a single day last week. The shares were offered in 10- -. share units at $50 a unit. Each unit provides warrant for purchase of three shares of com- - proposals. mon stock at $6 per share any time The statement said Rod P. Dixon, prior to Dec. 31, 1974. salt Lake City, president of Ameri 10-sh- are Dow gets EDA funds for plant DALLES PORT, Wash. An economic Development Administration conditional loan and grant totaling $5,373 million for establishment of a magnesium and chlorine plant has been announced by Sen. Henry Jack-so- n, sh. About $3 million would be a loan to Dow Chemical for construction of the plant at Dalles Port or in Klickitat County, Wash. Under the terms of the loan, Dow would provide the $16 million in equity for the plant which would cost a total of $19 million. for a magnesium-chlorid- e reduc- tion plant. Dow and Great Salt Lake grant would go to the Klickitat County Port District 1 of Bingen for port properties, part of which would be leased to No. Dow. tation rates, power rates and nearness to market. Attorney for the Klickitat County Port District at Bingen, Wash., said the1 grant and loan are conditional upon Dows deciding to' locate in Klickitat County. Both the Golden Amethyst and Daisey claims are located in the famed Ten Mile Mining District, ten miles west of Winnemucca. "I believe we have a limestone Bear Out Conclusions Geological studies and later development of the claims were to bear out much of Gordons conclu- sions. The occurrence of free gold in the Ten Mile Mining District has known for at l?s 40 year's, according to geologist William N. Booth of Kingman, Ariz., the latest expert to survey and report on the Golden Amethyst claims. "The first discoveries were made by placering the low, rolling terrain of the Krum Hills," notes Booth. "This activity directed little attention in the direction of hard rock ed mining, because the nature of the surrounding mountain ranges drew prospectors and miners to the more accessible and erosion-bare- d formations found heavily-mineraliz- there." Depression Activity It was not until the depression period of the 30s that local resi- dents turned to prospecting and mining the Krum Hills. During this time the Ten Mile Mine was discovered in the southeast quarter of Section 22, subsequently explored. (Continued on Page 2) Decision in Few Months Agree on Processing Min- erals and Chemicals Corp. already have agreed on processing magnesium chloride bitterns into feed stock at facilities to be built west of Ogden, Utah. The feed stock then would be used at the proposed mag- Port Properties A $2,073,000 spokesman said the firm still has not made a final decision on the site. Other sites are still under consideration, he said. Dow earlier had indicated that Utah also was under consideration A Dow Ten Mile District formation resting upon a batholith range," .said Elmer Gordon shortly after the discovery of the Golden Amethyst. "The ore occurs in a quartzite dike, cutting the shale and limestone enrichments at cross fractures and junctions. "I believe that the gold deposits resulted from hydrothermal and gaseous intrusions, and that the Golden Amethyst has a blanket vein that will yield gold ore at a considerable depth." nesium reduction facility. A Dow officer said site for the reduction plant would be determined later by such factors as transpor The attorney said no decision is expected from Dow on the site for several months. He said Dow, in applying for the loan, had said it would employ 350 workers when the plant is in full operation and would recruit from from among unemployed residents in three neighboring Oregon counties as well as Klickitat County.. The grant and loan are being made under an EDA program to help provide Jobs for hard core unemployed. Am. Smelting notes 1968 earnings NEW YORK CITY American Smelting and Refining Co. had net earnings of $78,617,000 (or $5.40 a share) in 1968, compared with $71,284,000 (or '$4.90 a share) the year before, E. M. Tittman, chairman, and R. D. Bradford, president, have reported. The figures in the annual report were subject to audit. Earnings in both years were affected by the industry-wid- e copper strike which continued through the last half of 1967 and the second quarter of 1968. The officers termed the 1969 outlook for nonferrous metals as good. They noted that a tender offer by Pennzoll United, Inc., for As-ar- Earnings for the last six months of 1968 were highest for any period in the companys history, the officers noted. 27 following a preliminary injunc- six-mo- nth co shares was withdrawn Jan. st tion in an suit brought by the company in U.S. District Court in Delaware. anti-tru- UKUUND SIDE VIEW OF DOZER CUT shows how deep the cuts run. The Golden Amethyst claims, recentuly purchased by East Antelope, are located in the Ten Mile Mining District 10 miles west of Winnemucca. |