OCR Text |
Show T -J '- - V . ilM T;TA .3- - u - SiMT :- BALT LAKE $ b SILVEB m. LEAD, per 1M (Pr correa HJf GOLD EINC Features Mining, Oil, Financial VOL. 18. NO, 2. ..Utah's famous Dream Mine in located in the hills east of status In the was placed' of a business venture this ' week following a statement issued by its leader, - John H. Koyle, wherein Mr. Koyle re pudlated all spiritual ' claims made, in respect to the mine. Long a subject to considerable controversy, the mine was believed by many to have been in spired by powers other than San-taqn- . earthly. Although considerable devel opment work was done on the property, including construction of a milling plant, we' know of no Bureau of Mines' metal production record that has been issued. Considerable stock has been sold in Utah in the yenture and not so many years ago was quoted among unlisted issues under the name . of Koyle Mining. Tunnel work being projected by Newmont Exploration on properties obtained from East Utah Mining Company has reached an approximate 300 foot length, it was learned in Salt Lake today. Although the adit was started on the lower part of the East Side Silver property, one of the objectives of the work is to explore and develop the East Utah area. Work so far has been in loose grpund and as harder'1 formations are encountered, it is expected that the project will move forward much more rapidly. . r . 1 A Speeding up production op- -. Orations toward the end of the year, Howell ' Mining Company shipped during 1946 a .total of 12 can of ore, from properties held by. the company located in American :. Fork Canyon, Utah. Recent work has developed a new fissure containing shipping ore. grade copper-zin- c i The (Romantic) Mayor of Romantic Alta told ' me tills one the other day: Many years ago, an emperor was surprised to see a slave . : . . passing his palace who was almost the image of himself. Ho, there,.' the ' emperor cried, Slave, did. your mother ever pass this way? No sire, but father did, was . - the rejohider. Joe: Say, whats the big idea painting your car blue on one side and red on the other? Alf: Its great stuff for1 winning an accident case. You should hear the witnesses contradict each other. . V1.I1U HMe Montana In amounts received by mining companies in the .form of metal premium payments will not only result in the taking of substantial sums from Utah firms but will also undoubtedly set a precedent for other states where the same question is involved. The total amount of such taxes will probably reach several millions. Contention of - the mining companies that such premium payments were made by the federal government for the purpose of stimulating production, . and that these payments should not be considered as a part of the sale price of the ore and therefore should not be included as income is, without doubt, n accordance with the thinking of lawmakers who set up legisthe payments poslation making ' sible. Has Better Use In the case of the State of Utah, With its comparatively high tax income, in addition to its enormous profits from the sale of hard liquor, it appears reasonable that taxes on premium payments could be used much more advantageously by mining companies for the purpose of development and exploration work thus perpetuating the state's greatest industry than to go into already bulging state coffers to be used for a number of incidental purposes. Deplete Mines : -- At the, time such premium payments were started and durWITH A FAST PRODUCTION well' into the millions, ing ensuing years, the metal of the Pioche. Nevada, mining district looms bright companies were stripping their due to. the construction of efficient milling facilities largely mines in all out effort to proto handle the districts complex ores. Shown above is the. vide maximum metal producshaft Castleton through which extensive ore reserves were., tion for a fight that had us back developed. on our heels. Had they not produced as they did, the conflict, at least, would have been prolonged. In making the grand showing that is now a matter of record, their mines were left in a pretty sorry state. These additional taxes, if left to the companies, series of eight articles giving highlights- of (Editor! Note: This Is the asixth of sdistrict would at least help considerably has- been an Important facmining of Nevada, Pioche, the history to rehabilitate, explore, develop tor In Utah Industry and which has been rebuilt bywhich Utah men.) and place the properties in the E. H. Snyder not content to let well enough alone In condition they should be to as- visioned1939, a program which would improve and expand operations sure extended operation. of his company and the operations of the Pioche district. He wanted a min at the source of the ore and a mill that would treat ores Gold Receipts from nearby districts. 26 Dec. released by Power was a problem and one Figures re-- i Moses E. Smith, superintendent that had helped to hold Pioche bring other plants, possibly to fineries Pioche the' district... of the U. S. Mint in Denver, dis- back for many years. Earlier,' Efficient Mill closed that receipts of gold and Snyder and his associates went The Combined Metals mill was silver in 1946 were almost three to work on- that problem and in 1941, and it is. .a from 1945. completed few a in power received within times the total years Gold and silver shipments to Boulder Dam was brought to model in milling efficiency that in at engineers from many mining disthe mint last year totaled more the district It was brought tricts have come to inspect This is and provreof cost $900,000.00 a total The than $15,250,000. 1000 ton per day plant with conSouthern ceived during 1945 was approx- ing a boon to entire ventilation does not have trolled will undoubtedly and Nevada, imately $5,250,000. a window and operated 24 hours per day by a crew of 15 men. It is illuminated throughout with fluorescent lighting. The Caselton Concentrator as it is known, put into practice many years of research and operating experience to treat ecoContinuation of an exploratory which company is at the present nomically the complex lead-zin- cores of the Pidiamond drilling campaign dur- time drilling a test well and is at silver-gold-ir1941 the of Since district. oche a is approximatereported depth planned ing .the ensuing year on properties located in the ly 7385 feet. The objective hori- company had developed ore reserves to operate the mill for Ophir, Utah, mining district and zon is the Weber Sands, which controlled by Madison Mines formation is so productive in many years. In addition the mill is esti- treats ore from the Prince ConCompany, Salt Lake City,' ac- the Rangely Oil Field. It to date solidated and Ely Valley mines mated that expenditures cording to H. F. Stewart, presiand extends its milling facilities exceedconalone on has this been has work The drilling dent the district Drilling opera- to other mines instates ducted under the direction of the ed $250,000.00. of Ari' the and adjoining on were commenced tions 1, U. S. Bureau of Mines. July elseand Utah after new roads had been zona', California, It is further reported that 1946 where. to drilling location lessees on the property will be constructed in a position to start mining ore at an expense of approximately Reorganization In 1943 under the guiding hand encquntered by the bureau in $20,000.00. of Snyder the Combined Metals Nequia Arch, Utah: This Reduction the near future. Company was reorstructure the has drilled been by Holders of considerable oil and after payment of ganized, and gas royalty interests in vari- George Callihan interests of Abi- its indebtedness to National Lead ous fields in the Intermountain lene, Texas, to a depth of 2640 Company, became an independBetween the horizons of ent area, the company has submitted feet company. During that year, 2400. and 2590, several oil showthe following summary of progof the plant was incapacity reings were encountered. As a ress at the various projects: 500 to 1000 tons from creased Gordon Creek structure, Carbon sult of these showings a Schlum-berg- er per day and expansion and mod(electric log) test was ernization of the Bauer mill at County, Utah: The company has taken of this hole and Stockton, Utah, since that time over-ridian royalty on ap- recently the are now being care- has been completed. (The sevresults 1520 All of acres. proximately. this land is under lease to the fully analyzed by competent go- - enth article in this series will Pacific Western Oil Corporation, appear soon in these columns.) (Continued on pagt 2) . . k.ms . Silver Shield Resumes Work Utah Suthe right preme Court upholding of the ' State of Utah to tax . Mli 1I.M One Year $2.50 Decision On Premium Tax Hurts Mining Decision of the . m mined) (per os.) (per 1M) Salt Lake City, January 10, 1947. Declaration by President Truman that hostilities have ended automatically suspended the moratorium of required assessment work on unpatented mining claims. , This means that work amounting to $100 must be done on each claim after July 1st of this year. The work must be completed by noon, July 1, 1048. During the effective period of the moratorium; the only requirement was that an intention to hold be filed with the county recorder of the county in which the claims were located. It is anticipated that now assessment work is required many claims will be available for relocation. VALLE T SMELTES FBICES i the-futur- e Mine rehabilitation work and nstallation of new and rebuilt machinery is progressing at tho Emma Mine, Twin Bridges, Montana which, is controlled by Silver . Shield Mining & Milling Company, officials of the firm announced in Salt Lake today. Resuming Work ' The hoist house, other surface buildings and mining equipment were seriously damaged by a fire several weeks ago. Superintendent Joe Buhler is now at the property directing the repair and installation' work and making preparations for the resumption of mining operations. During the three months just previous to the fire, the company shipped five rail cars of ore, officials state, reporting that the last two lots shipped, settlement of which has just been received, contained the following assayed metal values: Lot one, gold, .24 ouiiuce; lead, 17 per cent; zinc, 8 per cent and silver 16 ounces to the ton. Lot two, gold, .21 ounce, lead, 11 per cent; zinc, 5.1. per cent and silver 14 ounces to the ton. New Ore body Recent development work also has resulted in the opening of a new orebody on the 600 foot level of the mine, officials fctate and with the resumption of mining operations work will be directed toward production from this area. . . The higher grade ore . will he shipped to Tooele, Utah and a contract has been recently effected with the smelter at East Helena.' Montana for receipt of a considerable tonnage of low grade ore. The Company has installed an 100 HP' Diesel engine to furnish power' and a Gardner-Denv- er compressor is being placed into operation. . . - Efficient Mill Boosts Pioche Area Ore Output Sunshine Conducts - - . - : Madison Pushes Mine Work; Active In Oil, Gas Projects School For Miners WALLACE, Ida. Due to the lack of experienced miners, Sunshine 'Mining Co., the nations premier silver producer, is trainmen to be ing inexperienced miners or skilled laborers in a student scope underground. ' New men are assigned to this stope to learn the fundamentals of underground work and basic operations. A shift boss is in charge as instructor, assisted by experienced miners. Company officials said the plan has not been in operation long enough to determine its effectiveness, but expressed the view that the idea is sound. ' Depend on the rabbit's foot if you will, but remember, it didnt work for the rabbit. . - - on - , . "Each mw automobile contains pounds ol load and there b a. serious shortage ol the prop 45 motal.M . . ng . METAL MINING INDUSTRY OF UTAH |