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Show fcf Livt- -' KEEP LATE POSTED ON STOCK URANIUM! PRICES "Ow VeitA etf tfloAt Significance in The Oil and Utining World'. VoL 26.a No. 20 Salt Lake City, Utah. May 20. 1955 One Year $3.00 New TVShow Tells How To Find Uranium IBfe iggest Mining Project In Northwest Seen In Denver Survey Bureau DENVER Denvers Channel 9 television station, KBTV, continues to lead the nation in coverage of mining and oil news. Starting tonight, Friday May 20, the station will present its Formation of New Firm second sponsored program, pertaining to the mining industry. The program, called Prospecting Unlimited, will appear at Formation of International Oil and Metals Corp., at the outset a project embracing eight mining operaannounced was tions, today by W. Dale Bost of New York City. Mr. Bost, chairman of the board of the new company, said it could develop into the biggest mining enterprise in the Pacific Northwest. He hailed formation of the company as the biggest news in the mining industry in the past 40 years. He said the scope of minerals development and other activity embraced by International Oil three-million-doll- 9:45 pm. every Friday, starring James R. Quinn as master of cer- emonies. Quinn, district manager of Rinehart Oil News and an oil and mining news columnist for The Denver Post, will present an educational type program designed to interest the average person and weekend prospector. The first show, sponsored by Kurland Motors of Denver, will deal with the basic factors in staking claims. The second show is scheduled to deal with mercury. The third program will show viewers how to use Geiger counters, mineral lights and other equipment. Alternate week sponsor of the program is the . I. Shelley Company of Denver, an investment banking firm. John R. Thayer of the Agency is producer of the show. Chuck Howard is director. KBTV pioneered in mining and oil coverage last January when Ticker Tape, featuring Lonnie Hudkins, took to the video ways. Ticker Tape, another Daugherty-Hudkiproduction, is a newscast on business, mining and oil highlights in the Rocky Mountains. ins ns track of Olympic Uranium The above photogiaph shows a 20-to- n Company, loaded with ore as it is abont to pnll ont of Alta. The ore, according to Olympic officials, is valned at SI 10 per ton. Each track load of ore rperesents from $2000 to $3000 for the operating company, officials said. U-Capi- of World tal To Step Up Exploration Seen For Denver Denver Survey Bureau A Denver mineralogist and government DENVER assayer this week predicted Denver may become the uranium capital of the world. In a speech before the City Club Tuesday, Charles O. Parker of Denver said he based his optimism on uranium discoveries in the foothills area along Colorados eastern Parker said new discoveries in metamorphic rock caused him to feel Denver will play a great part in the uranium He said the discoveries are being made from industry. west of Golden to near die Continental Divide and in areas from Colorado Springs to South Park and Fort Collins to Chambers Lake. He closed his talk by pointing out that prospectors would do well to stick to the familiar Geiger counter rather than try more sensitive scintillation equipment Parker explained that Geiger counters dont observe rumblings from the bowels of the earth as do scintillometers. He said the faint emulations picked up by die more sensitive equipment can cost prospectors a lot of time and money. Uranium Corporation reports plans for immediate acceleration of its cur- -' rent exploratory development. Plans include: Drilling of its Upper Lost Park (Elk Ridge, San Juan County) claims, commenced in the past few days. This property adjoins the Sandy Mine, a commercial producer, and reportedly the subject of a recent sale of approximately $250,000 cash Odium on Tour A drilling program on its property near LaSal Junction and Area; situated between the production of Continentals Rattlesnake Mine Meets With and the' Gramlich Mine; Floyd B. Odium, head of Atlas Continuing drifting operations Corp., left Salt Lake City Thursat its Lower Cottonwood, San day to meet with Atomic Energy Juan County, Maxine Mine. Commission officials in Grand Washington, Junction, Colorado. Reports D. C. indicate the companys They will discuss the estabapplication for a DMEA loan on lishment of a mill in the Green its West B landing property has River, Utah, area. now been approved for field. exWhile in Salt Lake, Mr. Odamination. ium said he was aware the AEC has conducted negotiations with Recognizing well - diversified selection of United States Vanadium Co. reproperties and its active man- garding a mill in the region. His tentative itinerary includes agement, several companies have relaa to Moab. In July he plans visit approached the Hidden Splendor to visit tive to the prospects of a merger on the Muddy River. Mine program. Trans-Weste- rn In Plateau AEC from Trans-Wester- ns Trans-Weste- rn Co-locat- ors non-assessab- le. Tar Baby Buys Near Aiken Mine East Canyon Produces 12 Tons George Casey, president of the Utco Uranium Corporation, reports from Gollup, New Mexico, that the company has mined 12 tons of ore on their East Canyon properties. This ore is now enroute to the mill. They have a four-foface of ore of undetermined length at the point of their mining operations. There has been some very good ore, running as on the East Canhigh as 4 yon property. Utco also acquired a mining permit on 107 acres on the on page 2) ot Nava-(Continu- and Metals Corp. includes oil, iron, uranium, columbium, mercury, copper, gold and rare earth elements and miscellaneous components of monazite (black) sands of high commercial valU-Claim ue. than 43 MOAB, Utah-Mo- re Mr. Bost said the project also includes the rights to use and of W. Howard Balsley years ago, new process for the a Moab and seven other men stak- develop claim in separation of monazite sands, ed a petroleum-plac- er thorium and other rare earths the Salt Valley district north of wi;h,less equipment, less waste the Arches National Monument and more recovery cf mineral near here. values, at vastly reduced freight That was on Feb. 1, 1912. The costs compared to present meththis phase of 160-ac- re claim was called the ods of handling mining. The new process is Klondike No. 5. known as the Cardon Process. This week John Latham of The geographical range of InCawker City, Kan., and Bob Shu- ternationals operations, at the maker of Spokane, Wash., while outset, will extend from Vanwalking claims in the Salt couver Island on the north to the Mexican border on the south. Trout-Lin- e Valley, found an old It ultimately that brand tobacco tin. In it this iswillexpected be extended and broadwas the Klondike No. 5 location ened to include prospects and notice still eligible. operations in Japan, Alaska, Central and South Mr. Balsley, 68, recalled today Canada, America. a as was claim the staked that petroleum prospect. The ground The capital structure calls for is now located for uranium. five million Shares of capital of Klondike No. stock at $1 par value per share, 5 with Balsley were Knox Patterson, G. P. Bryan, J. S. Mer-kin- s, D. S. L. McCorkle, A. M. Rogers, H. A. Bergh and J. F. Hall. Only Mr. Balsley, 68, survives. Mr. Balsley, a native Pennsylvanian, came to Moab 45 years ago and has worked in mining since. He is currently a director Acquisition of three important of the Uranium Ore Producers uranium claims in the Big Hole Assn. 13 southmiles mining district, west of Blanding, by Tar Baby Mining Company, was announced Creek today by William G. Fowler, Calamity president of Tar Baby. All three Claims show very Goes Into Action good ore. Fowler said plans are Calamity Creek Uranium Co., being made this week to sink a whose 15 claims adjoins Vernon shaft down to the ore body Pick's Cliff Dwellers Mine on which is approximately 70 feet Calamity Mesa in Montrose below the surface. The contract County, Colorado, last week bull- for the job will be signed in a dozed, prepared roads, provided few days. The channel of minwater and moved in drilling eralized ore appears to traverse equipment. all three claims, according to Calamity properties are situat- geologists. The claims originally owned by ed in the heart of a known prothe Shumway family were bought ducing area taking Climax Aladdin & Company which from Molybdnum from the north, Vernon Picks Cliff Dwellers from previously purchased them from the south, and the Nevada Mine the Shumways. The claims directly adjoin the from across the Canyon to the famous Aiken claim, from which eneast Company officials are over worth of ore is $1,000,000 findthused and very hopeful of to have been taken last reported ing commercial ore body. Drilldeclared. Fowler year, ing will start immediately. 43 Years Ago, Now slope. Trans-Weste- rn ar Staked For Oil . Daugh-erty-Hudk- lOe Pei Copy ed |