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Show May, 18, 1956 Page 5 The Weiten Mineral Survey, Sail Lake City. Utah From Mining To Ice Breaking Blue Lizard $100 Issue Now Open To Public Subscription, sale of Blue Lizard Alines, Inc., $100 convert ible debentures was "well supported outside Utah with nominal support in the state, according to George Ilackett, representative of the companys underwriters. The 8 per cent convertible subordinated debenture issue went on sale May 1 to stockholders at a special price of $92.50. Subscription sales ended May 15. The issue, first of its kind in the uranium industry in this area, is now open to public purchase. Investment Co., is "satis-fle- d Underwriters, Ackerson-IIacke- tt with the opening two weeks indications. A special meeting of Blue Lizard stockholders is scheduled May 22 at company offices, 26 West Broadway, at which time an accounting of sales to date will be made. Debenture issues are in the form of a direct lien on the assets of the company. Funds made available through the issue will aid in paying for the companys interest in the Blue Lizard claims and mine. First payment of $100,000 is due June 1. -- Pineco Buys N.M. Land Eyes Drilling Outright, a drilling program, Uranium joined plans Pineco f '"V't; rr & VERSATILE MACHINE Crews in the mining fields of the wrest use the huge "CAT daily in rim stripping, digging and production of vital minerals. Here the crew of the U.S.S. Glacier, icebreaker on Operation Deepfreeze at Little America V, unload a similar machine for ice The machine will be breaking purposes. a equipped with special blade, track shoes and a special cab. Producers Outlines Drilling Program Producers Uranium Corp. prop- Diamond triple C Mining Co., G. W. Anderson said today. erty in the Elk Ridge area will be drilled in the near future by the Anderson, president of Producers, notes geologists will investigate the area within the next two weeks to outline a drilling 24" x 38" OIL & URANIUM MAP OF CANADA $3.00 Free list of presently active Uranium Mining Co.s, over 200 main and wildcat oil fields, and 48 OIL" and "URANIUM" map flags included. Mineral Surveys 2120 College Ave. Regina, Sash. According to Anderson, Cataract Uranium Mining and Explor-- . ation Corp., New York, has start- ed drilling operations on Sections 19 and 30. Producers holds a 18 carrying interest on these plan. The company also holds leases on C drilled Diamond Triple 25,000 acres of oil and gas propthe Gamma claims last fall but erties in the Paradox Basin area were forced to close operations of southeastern Utah. due to winter weather. Basin, In the Denver-Julesbur- g recent of tells also Producers Producers has entered into a paracquisition of a 50 per cent in- ticipating agreement for drilling terest in Section 36, T 15 N, R 9 10 wells, which, Anderson said W, in the Ambrosia Lake area. will net the company a 18 Strategic Metals Research, Inc. working interest. holds a 25 per cent interest in Producers offices are located in the same section. the First Security Bank, Salt The company has an undivided Lake City. The company stock cents interest in all of Sec. 31, on is listed in Salt at 3 and which it is committed to drill bid and 3 asked. to start Corp. western firms moving into the Ambrosia Lake area, McKinley county, N.M. with acquisition of property in Sec. 18, T 14 N, R 10 W. The company is also planning drilling and exploration of Brink Placer gold property in California and Red Canyon properties, according to Adrian Gerritsen, president. According to Gerritsen, the company bought outright a group of Ambrosia Lake claims without royalties attached. The company he said. Gerritsen also quoted J. W. Deans, Moab uranium consultant, as stating there were more than 20 drill rigs on various properties in the Ambrosia area. The McKinley county area is the fastest growing uranium center in the west at present with plans for two uranium mills now in process. Lease and option agreements have been completed on 50 claims in Red Canyon located 80 miles west of Blading, Utah, Gerritsen reports. The company plans to start a Qlrf drilling program in the near fuAtomic Reserve Uranium Corp., ture. Shipments from mining a Utah corporation, this week told properties in the area, he adds, soon be made to the new drilling and stockpiling plans for will buying station in Hite, Utah. company properties. Atomic Contracts Tgyfic Df Old Texas Mining Co. has signed contracts to do all mining and road work on the Lydia claims of Atomic Reserve in White Canyon, according to Lou Selleneit, AR president. The Texas firm is now prepar ing to drill and block ' out the 17 claims, Selleneit adds. Atomic Reserve is also stockpiling. ore from the Shadow Mine in the Yellow Circle mining district in Grand County, Utah. According to the president ore assayed from the stockpile varies .30 per cent to 2.5 per cent from next the within feet year. 12,000 including camotite and pitchblende indications. The company is also negotia ting, according to Selleneit, for ISSUE purchase of a copper mine and six patented claims in Nevada, SHARES plus a producing mine in the Robert M. Hardy, Jr. has been White Canyon area. named president and director of Sunshine Mining Go., Yakima, Wash. Sunshine News NEW 9,500,000 Oil, Elections URANIUM, INC. J-- A At the annual stockholders meeting the group also heard news of a new oil discovery in basin of the A NEVADA CORPORATION t OFFERING PRICE PER SHARE NON-ASSESSAB- Colorado. President The Company is presently engaged in the business of exploration and mining in the Circle Cliffs area in Southern Utah, where it owns 72 mining claims. characteristics. A COPY OF THE OFFERING CIRCULAR MAY BE OBTAINED FROM THE UNDERWRITER INVESTMENT ACKERSON-HACKET- T DA 46 DA J-- A DEASON and NICHOLS URANIUM, INC. Assay and Chemist .... Address City. 220440 SECURITIES, INC. 45 Halsey St. Newark. New Jersey Telephone: White Hall or MArket 10 VOLT 3 PHASE 60 CYCLE WITH 6 CYLINDER WAUKASHAW GASOLINE ENGINE COMPLETE WITH CONTROL PANEL GOV'T COST The well was brought in at a e depth of 4700 feet, yielding high-grad40 more than of crude gravity. The well is located in Logan county, Colo. DAGGETT BRAND NEW $5,000 SPECIAL $2,000 on yonr purchases ol tarps, machinery Let ns save yon np to 50 covers, power and light plants, pumps, hose, compressors, cable, electric wire, truchs, conveyors, machinery, paint, lacquer, thinner. iork lifts, steel shelving, etc. 83 Please send me the offering circular on Name. CO. SALT LAKE CITY. UTAH 701 CONTINENTAL BANK BLDG. Hardy reports the tact SPECIAL 25 KW POWER PLANT new oil well indicates discovery of a- new small oil field with "very good indicated reservoir About 20,000 acres of Mineral Properties in the Colorado Plateau area of Utah and about 2400 acres of Copper and Uranium prospects in Quebec and Ontario, Canada. We are looking for a company or private capital to develop these claims. If interested con- Contractors! Mines! Factories! Denver-Julesbur- LE WE HAVE State - 160 So. West Temple PHONE EL 62 Salt Lake City, Utah List your needs with Harold Buck, Buck's Surplus, P. O. Box 1029, Ogden, Utah. 5-16- 21 LET US HELP YOU SELL YOUR SURPLUS INVENTORY AND EQUIPMENT. War |