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Show '-- OP U LIBRARY i cm METAL PRICES 16c Lead (per lb.) Gold (per oz.)$34.9125 24.2c Copper 15c Zinc (per lb.) Silver (per oz.) -- new mined. Features Alining, Oil, Financial 82.75c 1 Salt Lake City, August VOL. 23, NO. 31 One Year $2.50 1, 1953 Chief Consolidated Reports Profit For Six Month Period Chief Consolidated Mining Company this week reported net operating profits of $234,175 for the first six months of 1952. Net smelter receipts were $1,- 064,999 for the period. Stockholders were told by Cecil Fitch, president, that the operating profits are the best the company has experienced for many years and fully justifies optimism expressed in the previous annual report. Development work on the The scouting division of Car2600-fand 2700-ft- . levels of. the ter Oil Company, Northwest Division, has released the follow- Chief No. 1 mine was vigorously during the period and ing summary of drilling wells pursued in opening up of conresulted for the past week: tinuations of our ore channels, 1 Ute Tribal 'C No. (located excellent with grade and tonin the center of SW SW, Sec. Drill stem test No. nage possibilities. He said the relatively small 3 feet, open 10, between 2 hours, recovered 1620 feet of tonnages extracted from these gascut water cushion, 90 feet areas was largely responsible of heavily oil and gas cut mud. for the profits earned during the period. Core No. 19, between 9743-7- 8 Mr. Fitch said that the sinkfeet, recovered 35 feet Crews are coring at 9823 feet ing of our main underground G. E. Houston No. 1 (located hoisting shaft an additional 400 in. ft to the 3100-fin SE SW, Sec. level, likewise drillare Crews Roosevelt Pool.) progressed satisfactorily. A total of 126 ft. of work has been ing at 7370 feet Ute Tribal B No. 1 (located accomplished. in Roosevelt Pool in NE SW, The mine has been on strike Total depth 9954 since June 25, because from a Sec. total depth financial standpoint, the deback feet Plugged, 9838 feet mands of the union are imposUte Tribal No. 3 (located in sible to meet Mr. Fitch said. Roosevelt Pool in SE NE, Sec. He advised stockholders that Drill stem test No. 13, your however, will between 9412-5feet tool plug- continuecompany, to negotiate with the ged, open 2 hours, recovered 96( sincere hope the problem will feet of drilling fluid, bottom 200 be satisfactorily settled in the feet slightly oil and gas-cunot too distant future. Crews are coring at 9525 feet H. A. Peterson No. 1 (located in Roosevelt Pool in SW SW, A drill stem test Sea between feet, open 2 hours, recovered 1500 feet of water cushion, 40 feet of water base drilling mud. Core No. 13, between 9604-6-0 feet recovered 56 feet Core No. 14, between feet recovered 55 ft. Drill stem test No. 6, between CRIPPLE CREEK, Colo. The feet, open 2 hours, reGolden Cycle mill is producing covered 1620 feet of water cushtwo or three gold bars every ion, 67 feet of drilling fluid. two weeks. The last pouring, Crews coring at 9718 feet was which concluded last ThursJoseph Smith No. 1 (Flat Mesaw three of the golden insa wildcat well located in ran- day, gots sent to the U. S. mint. ter of SE SE, Sea Set 10 inch pipe at 791 feet Value of the three was $79,700. with 380 sx. Drilling at 1238 The previous three were worth Drills Active In Utalis Basin Area t. 16-1S-1- 9679-974- INCREASES DEVELOPMENT ACTIVITY Total revenues were somewhat, lower during the past year at the operation of Idaho Maryland Mines Corporation located in Grass Valley, Calif. Production resulted in a yield of 52,228 ounces of gold and 14,225 ounces of silver. In excess of one quarter million dollars was expended in exploration and development work. E 20-1S-1- Contract Made Ore Shipments BINGHAM DISTRICT, UTAH Combined Metals Reduction For Iron Ore tons. tons. GOLDFIELD, Nev. Outright Mines, Utah Copper (Kennecott), sale of the historic McNamara From Nevada 85ton cars, daily average. Mine in the Palmetto mining Historic Mine Changes Hands Co., 495 U. S. 8381 -- . dis- trict of Esmeralda County to Ray Hines of Bruhi Enterprises was announced this week by Clyde Barcus of Goldfield, who held an option; on the property. The mine was owned jointly by Margaret McAuliffe, Edith Barcus and Ernil Perolaz. 1061 Contract for an- PARK CITY DISTRICT, UTAH New Park, 1056 tons. other 100,000 tons of iron ore from the Simplot Iron Mines (No shipments from. Silver south of Palisade has been King or Park, Utah due to strike signed with Simplot by Japanese conditions). interests and shipments were to EUREKA DISTRICT, UTAH start today from the property, Empire Mines, 5 cars. Eureika Lily, 3 cars. according to a reliable source. Mountain View, 1 car. Hauling of the ore on a con(Courtesy J. A. Hogle is Co.) tract for in excess of 100,000 tons was completed by Simplot last month and the Japanese immediately negotiated for an additional block of the heavy Find ELKO, Nev. : The old lead-sivproperty record a has dating production back to the 1880s, and has-beworked sporadically.- - in recent years, chiefly under the direc: tlon of the late. Ed. Giles. The stuff from Nevada. property covers three claims. There are at present some New arrangements have been 3000 tons of ore oil the dump made for hauling the ore to be of milling grade, Barcus said, shipped under the present conwith an additional 3000 tons in tract Instead of hauling to Oakland, the ore will he shipped sight underground. diis Hines putting the ground by Western Pacific railroadnew back into production immedi- rectly to Stockton, where a ately, and will treat the ore at unloading trestle and stockpile his plant in Silver Peak, accord- arrangement has been completed. Here the ore can be shipped ing to Barcus. and unloaded without delay resulting from lack of boats, strikes or other difficulties in the more congested San Franbay area. Lack of congesPlans are being completed for cisco lines and in on the establishment of a purchase tion willrailroad also facilitate hane mica at yards depot for of cars for shipping the Franklin, New Hampshire, it dling Palisade. ore from was announced today by Jess Future outlook for shipment Larson, Administrator of Genof iron ore from Palisade is still eral Services and of the Defense The Japanese have unsettled. Materials Procurement Agency. been buying the Nevada ore on The new station, similar to ones now being set up at Spruce a temporary basis and are bePine, North Carolina, and Cus- lieved seeking sources of ore ter, South Dakota, will be oper- closer to the coast In addition ated by the Emergency Pro- to shipments of ore is also comcurement Service of GSA for ing into the railhead at Battle er en . Mica Deposits high-grad- DMPA. Incentive prices will be paid to encourage the discovery, development and production of do- mestic mica. Mica is needed for a variety of defense purposes, largely in electronic devices. The material Is highly heat resistant and for many purposes the best insulator so far known. Mountain from properties south of that plae in the McCoy mining district. Shipments are be--' ing made from two properties,' the McCoy Iron mine, operated by Rhoads Grimshaw, and. the Mickey Mine, operated by Wells Cargo, Inc. Tonnage at these mines is reported to be limited in comparison with the huge tonnage developed at the Sim- - New Tungsten Reported INDEPENDENCE, Calif. What gives reasonable promise of being one of the worlds most valuable tungsten deposits, on the west slope of the Inyo mountains east of here, in and adjacent to one of Inyo Countys famous old gold mines, now is being oponed up through completion of an access road which couldnt be buitl! Eventually, mining of the massive and comparatively rich deposits will be uppermost, but at present Johnny Thompsons road, which winds and switchbacks its way up the steep, rugged mountainside, is of paramount importance. Not too long ago, engineers, after spending almost $25,000 surveying, declared a road to the tungsten-ric- h Jumbo could not be built. This week, after a little more than one year of work, the road is nearly to the mine. 15-fo- t. ot plot property. Four mines also are operating in Pershing county and are shipping from a new spur just east of Lovelock. An Iron deposit in Humboldt County in the Jackson range is also being investigated and are that shipments will be started from this property in the future. . re-por-t$ ). 9 , . t. Golden Cycle ). 9500-966- 0 9660-971- Producing Gold Bars 5 9656-971- 5 16-3S-5- -- $78,500. feet Elmer Moon No. 1 (Antelope Wildcat well located 50 feet E of center of SW SE, Sec. Core No. 15. between feet, recovered 30 feet. Core No. 16, between 3821-3feet, recovered 14 feet. Core No. 16, between 3821-3feet; recovered 14 feet. Drill stem test No. 6, 5 between feet, open 2 hours, recovered 120 ft slightly oil-ct and heavily mud, some NH4 odor. Crews drilling at 404 Ofeet 3791-382- 1 5 5 3745-383- ut Canyon-Governme- nt gas-cu- No. 1 (Jack Canyon wildcat well cated in SE NE, Sea A core at 8847-8-9 feet No. description received. Total depth 8889 feet. lo- New Gas Flow Three States Natural Gas Co. has announced a flow of more than 25 million cubic feet of natural gas a day from its Utah Fuel No. 2 well at Clear Creek in Carbon County, east central Utah. Records show it to be the largest gas well yet found in the state. This gold shipment brought the total number of bricks to 59 since activity started at the huge plant in the spring of 1951. Daily tonnage is gradually creeping upward. Last month 13,721 tonh of ore were processed. This month it will be even higher, according to mill officials and this in spite of the fact the mines and the mHl were shut down three days during the Fourth of July weekend. The first shipment from the conglomerate vein that was discovered recently on the 11th level of the Ruble was made yesterday. Muck pile grabs have been averaging about .70. The vein still looks good and is going ahead. Five shipments of ore were expected to be made this week from the Ferguson - Kumetat lease on and above the 10th level of the Mollie Kathleen. The lot of screenings are expected to go up in the pictures again. Samples have been running from 10 to 17 ozs. gold to the ton. t |