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Show wttJURT f, , . ; - : s ?- - rr or iv o :u7 ALT LAU TALUC SMELTCB j - - Features Mining, Oil, Financial VOL.. 18. NO. 7 Salt Lake City, February 14, 194? One Year $2.50 Tennessee Arizona Leads U. S. Metal Production Lead Strike Opens New Orebody Montana A new Ariz i I CHLORIDE, orebody that promises to be of large proportions has recently been encountered in the Tennessee Mine at Chloride, Arizona. according to Nye A. Wimer, President of Tennessee Schuylkill Corporation. During the war years an ore-boof some 500 feet in length south of the main shaft on the' 000 fot level was mined out. Approximately 100,000 ton of a ore was good grade of lead-ziAll area. this from produced along the floor of the 900 south drift good ore was in evidence, indicating that the orebody would persist for some distance downward. Thomas L. Chapman, mining engineer and geologist of note and at present manager at the Tennessee Mine, began expjora-- tion work on the 1200 level south of the main shaft recently, be- lieving the orebody previously mined out on the 900 south level would extend to somewhere near the 1200 level. A raise from the 1200 level was started and at a height of 55 feet the ore was encountered. It is believed that the block of ore between the top of the 1200 raise and. the 900 level contains sufficient tonnage to keep the 150 ton Tennessee mill in. con- -. tinuous operation for some five years. ... ' - . : . ... Wyoming dy nc - Texas New Mexico Zinc 5,514,600 3,408,348 1,787,700 2,033,130 12,089,700 1,292,800 $ 6,262,000 8,386,464 3,918,400 1,762,040 17,205,000 5,708,960 Yi,iio 22,568 606.000 4,797,500 606 1,012,424 2,889,200 10,540,000 9,018,024 Utah Mineral Output at Work Planned Low Level During 1946 At Mineral Gold Valley Plagued by strikes and handicapped by continued shortages of labor, metal mining in Utah in 1946 sank to the lowest level in Mineral Valley Gold Mining recent years, according to the Salt Lake City Office of the Salt Lake City is Company, Bureau of Mines, United States Department of the Interior. Copof operaplanning resumption per bore the brunt of the precipitous, decline, output for the year tions at its property located in being 52 per cent below that in 1945; gold dropped 43 per cent; the House Mountains, Millard silver 39, lead 33 and zinc 25 per cent. County, Utah, following a federal government announcement In spite of appreciable in that plans for a rocket range in of all trate is treated in the companys the area creases. in average prices had been cancelled. flotation mill, Work metals except gold in 1946, the new 1,000-to- n Stopped value of the five metals pro- which yields lead concentrate Intention to use this area for and zinc concentrate. Late in duced in Utah during the year the year the Utah tests by the War Departrocket Co. Copper ment necessitated stoppage of actotaled only $55,427,860 38 per- announced that it is adding cent below the 1945 value of worth of new equipment tivity at the property last Sep$90,018,641 and nearly 56 per- to the electrical generating plant tember. at Arthur. cent less than the value of Up to date, work in the Valley has been principally testing and for the peak war-ye- ar Among .the three leading dis1943. Of the State total value tricts, the West Mountain (Bingfor that purpose an in 1946, copper contributed 63 ham) experienced the greatest testing plant has been installed percent, zinc 11, gold 10, lead loss in production, largely be- in the lower end of the valley. 10, and silver less than 6 percause of long work stoppages. Make Tests cent.. Ore output dropped to less than Just prior to cessation of op. half f that in 1945. v Metal prod- eration, the company ran- - 26 Labor Strike l; Chief among the causes for the uction was affected according- yards through the testing plant ly, and the value of the five and it yielded 51 cents in gold poor showing of the nonferrous metals produced during the year and one pound of sheelite, which in Utah metal. mining industry 44 percent from that in amounts to $1.21 per yard at in 1946 - was the ' labor strike declined 1945. Losses .the Tintic dis- present prices, according to Er-nthat went into effect January 21 trict were notin so severe zinc Jensen, president. and lasted nearly through June, It has been estimated that yet Involved were about 5,000 mine, output increased slightly mill and smelter workers em- the total value of the metals there are approximately 20,000,-00- 0 was 31 percent below yards of pay gravel in the ployed by the Utah Copper Co., produced 1945. in in that the RefinTonnage valley. The firm plans to inaugUnited States Smelting, 39 district Park increased' urate a large scale operation in City Amer& the and ing Mining Co., ican Smelting 8e Refining Co. As percent, largely because of the the near future. It is also the intention of the a result, during the five months activity of the Pacific Bridge Co., strike period, monthly output of but the New Park Mining Co. company to endeavor to obtain made a substantial increase stock listing on the Salt Lake copper dropped to about 2 per- also cent of that in December, 1945, in tonnage. District output of Stock Exchange, Mr. Jensen and zinc increased, states. gold to about 10 percent, and gold, copper, silver and lead recordalthough cent,. 35 to than less silver per Lead and zinc were less affect- ed slight losses. The value of the Holders Approve Sale in the district ed, lead output holding at near metals produced 8 percent over that in Of half the rate for December, 1945, increased Graham Auto Assets and zinc at 62 percent A small- 1945. The West Mountain80(BingWILLOW RUN, Mich. Stockdistrict produced perer strike, involving 80 men, af- ham) cent In of of Graham-Paig- e the State total Motors value holder fected the operations of the Park 9 the at Park a spe1946, perregion Corporation City approved Co. Mines Utah Consolidated cent, the Tintic district 4 per- cial meeting the sale of the comfrom March 2 to March 5. cent, and remaining districts 7 panys automotive assets to Following the resumption of percent, most of which was de- Kaiser-Frazer it major operations in July, pro- rived from mines and a slag- - was announced Corporation, W, by Joseph mounted duction rapidly, but Tooele County. Frazer, chairman of the board. was prevented from wiping out fuming plant in losses largethe strike-incurrly because of a labor . shortage of land standing, and little or no relief was in sight as the year ended. In an effort to step up production, the United States 8c Lark mine of the United States ATLANTIC CITY, N. J. like silver and keen carving Smelting, Refining 8c Mining Co., in the West Mountain (Bingham) Metallurgists are custodians of tools. The wider and more attracwork materials on which the welfare district, began a six-dmust of Nocountless horizons to lure the venturetive of middle generations about the week depend, stated Walter S. Tower, some metallurgist now seem to vember. president of the American Iron lie in the direction of preparing New Operation & Steel before mem- metals for use, since the basic Few new mining and milling bers of Institute, J American the of separating metals Society operations of consequence were for Metals at their annual din- knowledge ores from has been pretty well opened during the year.. Worthy ner here. Mr. Tower said that solved and great strides have tail every advance in the science of likewise been made in the metals of mention is the 1,500-to- n ings plant, completed in August, metallurgy tends to make metals and economies of refining metals. of the Pacific Bridge Co. at Park more In every consideration of the serviceable, to enhance City, which uses 48 Humphreys to economic and of metals it is important to use their provalue, spirals in. treating old zinc-leof existing natural recognize that we are dealing life the long oxide and sulfide tailings. The resources. with exhaustible resources. Evconcen resulting bulk zinc-leMr. Tower stated: The metal- ery ton of metal extracted, re lurgist has dug deep into his fined and put to use is an irrebag of tricks and come up with placeable subtraction from the industrial applications of ele- aggregate which this earth of ments which were, until a few fers. Some metals, once used, Dies years ago, largely laboratory can be recovered from scrap and items. Our whole manner of liv- in secondary form contribute Wells L. Brimhall, 64, promt ing would be far different with- substantially and repeatedly to nent mining operator and broker out the wide range of qualities the needs of industry. But exdied late last week at Provo, of the numerous alloys which isting resources cannot be in Utah. the metallurgist has made avail- creased by any magic of metal Long associated with mining able. Many of these metallurg- lurgists. Synthetic metals in operations in Utah and other ical marvels have been designed quantities are beyond the imagwestern state, Mr. Brimhall was specifically for the benefit of the inings of fiction. You metal' also prominently represented In distaff side of the house, such as lurgists, therefore, are custodibrokerage circles. At the time the gleaming stainless sink, the ans of materials on which the of his death he managed his enameled gas range, stainless or welfare of countless generations clad metal pots and pans, satin must depend. own brokerage firm in Provo. - , $3,-K)0,- 000 $124,-562,5- 40 up-to-d- - ' , A United States Bureau of Mines report describing results of an investigation of mineral deposits - at Eureka, Nevada has been made available for general distribution.' Designated Report of Investi- gations 3949, Exploration of the Gold. Silver, Lead and Zinc pro- perties, Eureka Corporation, Eureka, Nevada, the paper was prepared by E.. O. Binyon, Bureau mining engineer stationed at Reno, Nevada. Three vertical diamond, drill holes ' were completed, totaling 4577 feet. Ore was encountered in all three, and analyses presented in the publication. , . . - , . . Gordon Creek Well Continues Drilling The well being drilled mi the Gordon : Creek structure located 17 miles west of Price, Utah continues to break all existing records for depth in well drilling in the state of Utah. At the present time the hole if bottomed at .. - 9080 feet It is expected that the first main objectives will be reached at approximately 10,000 feet. The Pacific Western Oil Company of Los Angeles, California are the drilling operators. .The drilling equipment being used is capable of drilling to 13,000 feet. rikt fint eoal nb disc or rad U Utah was asar Wales 1m laapsts County ' la 1154. la' 1151 - ooal was dtecororod asar CoaWUls and later la . Carbon Couaty. - ell ed Metallurgy is Vital Factor In Conserving Resources ay ad ad . Prominent Mine , Operator . METAL MINING INDUSTRY OF UTAH l Agreeing that currently effective laws covering financing of primary mining issues were too severe, mining men meeting at the recent mine convention in Denver, Colorado, recommended modification of existing SEC provisions. Modification The group requested that the present law be modified so that only fraud provisions of the Act remain, which would result in releasing restrictions on primary mine financing and new mining ventures, thereby making it possible to reopen many needed mines, develop ore resources and produce new minerals which are much in demand by our nation. Hard to Finance The movement has been gaining momentum for relief from restrictive financing laws during past months as knowledge of metal shortages has become more widespread. Generally, it has been recommended that the red tape involving registration be deleted and the issuer be considered a legitimate operator until proven otherwise. Considerable complaint has been heard that financing beyond state borders if practically impossible under tho present security laws. ate , Report Released ; On Eureka Mine Modification Of Security Laws Asked U. S. Laws Sidetrack: Mining Funds Canadian SPOKANE, Wash. mining enterprises are richer by millions of dollars of American risk capital flowing into Canada because of restrictive laws and SEC regulations which discourage mine financing in this country, Stanly A. Easton, president of the Bunker Hill 8c Sullivan Mining Co., told a recent meeting of the Northwest Mining Assn. Primary domestic mine financing must be made more attractive and easier to accomplish if more mines are to be found and developed, said Easton, adding that the U S. Geological Survey and the U. S. Bureau of Mines are a bout the only two government agencies that have really been of benefit to the mining industry. The securities and exchange commission, .he said, has too many restrictive regulations. Primary mine financing is highly speculative, said Easton, but stakes are high. Great fortunes have been made by courageous speculators who risked their money on a hole in the ground. Speculative profits are enormous. Grubstaking was the simplest form of mine financing. Noah Kellogg found the Bunker Hill mne on an original grubstake of $13.10. Ore Shipments Shipments of ore and concen- trates from three of Utahs mining districts during the past week were as follows: Bingham Kennecott Copper Co., 968 85-tcars daily average; U. S. Mines, 6029 tons; Combined Metals Reduction Co., 220 tons. Tintie Chief Consolidated, 21 car15 loads; Tintic Standard, Gemini, 6, Bullion Beck, 13f Eagle 8e Bluebell, 4; Eureka Hill, 1; Utah Fire Clay, 4; God-iv- a, 1; Dragon Consolidated, If Iron Blossom, 1; Mountain View, 1; Yankee Consolidated, 2; Eureka Lilly, 3. Park City New Park 1300 tons; Park-Ut- ah Consolidated, 426 tons; Park-Uta- h Keetley, 220 tons; Silver King Coalition (concentrates) 117 tons. on |