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Show IW'RJTtT. r?- - -- 1 r- . nAF.T' tn ' - v v-rt I) -17 -- .- SMELTER raicas BILVEB : lead, (H' corns QlEX 5,aiu LAU VALLEl SALT GOLD (rev m) uno (hi teet Features Mining, Oil, Financial Sqlt Lake City, Utah, July 25, 1947 VOL 18. NO. 27. M- - mw bImII MVfca ...... . is.ee Niei ......... .St.OlBS toe . . ... . .leae One Year $2.50 Depletion of Nation's Minerals Held Unlikely In Utah at Presented before the Rotary Club in St Louis, Missouri, Juno 26, 1947, by How wjl I Young, president, American Zinc, Lead and Smelting Company, St LouIsl Missouri, In the past two years more leasing and wildcatttng activity has been evident in Utah than for the past twenty years, i All major operators in .' the . Rocky Mountain Region have mad at least preliminary surveys and most of the larger 1 companies have conducted extensive - geological and geophysical campaigns in portions of the state. More active operators in the new play .have been Carter Oil Company, Phillips Petroleum Company, The California Company, Mountain Fuel Supply Company, and Sinclair Wyoming Oil Company, according to Petroleum Information," published non-metalli- . out of Denver, Colorado. Filings for Federal leases have been extremely active in Salt Lake City Land Office, and the activity has increased in intensity in recent months. One of the areas of interest has been the Circle Cliffs structure in Garfield County, in the southern section of the state, ac- cording to .Petroleum Information." This structure is approximately 30 miles long and ten miles wide, and is considered one of the most perfect surface structures in the Rocky Mountain Region. Leases on this structure approximately 100,000 acres have recently been optioned to a combined group of the Standard Oil of California, Barnsdall Oil Company, Union Oil Company and Reserve Drilling Company. The Tidewater Associated Oil Company has acquired protection acreage on the north side of the block and the Seaboard Oil Company has also acquired nearly 10,000 acres of protection acreage surrounding this structure. All of the acreage has been dealt to the various concerns by N. C. Morgan, Sr., and N. C. Morgan, Jr., of Salt Lake City. In addition to the Morgans royalty interest consists other royalty owners of the Kelly Oil Co., , of Los Angeles, California and Madison Mines Company of Salt Lake City, Utah. The Ohio Oil Company drilled a dry hole on this structure to 3212 feet several years ago, however, the new test is planned to go to 7500 ft. to the Granite and will give a complete test of the Pennsylvania formation. The Standard Oil Company of California has recently started drilling operations about thirty miles West of the- - Circle Cliffs on what is called the Upper Valley Structure and ibis; too, will be drilled around 6600 feet for a Pennsylvania test The Pacific Western Oil Corp- con-sistin- Continued On Page 2 WNfflMMi gof ' High grade surface ores found in many Utah mining camps during early days have resulted in development of the states major mining districts. Shown in the above photo is the Pioneer camp. of Park Valley, which has been in continuous production, except for brief intervals since 1872. Strike in Emma Mine Started Early Day Boom (EDITOR'S NOTE: Thl li th Mventh of history of the motel mining Industry in Utah.) ft eerie of eight article on the The first discovery after Bingham was by prospectors who flocked to the Wasatch range of Mountains and discovered the famous Emma mine at Alta. Four prospectors sank a shaft through the hard rock on the north rim of the now famous Alta ski buin and after 10 months struck a rich vein of ore. This was in 1868 and the ore carried such high values in sil- ver that it was dragged down the precipitous Little Cottonwood Canyon on hides. From there it was shipped to Ogden by where it was routed to - ox-tea- m Swansea, Wales, around Cape Horn for smelting. Emma Booms v The old Emma - mine- - had- - her boom years and her lean years, as did all mines of the district. At one time Alta had a population of 5000 persons and a hundred business buildings. Its mines for a time poured out its metals with a lavish hand, producing more than $37,000,000 largely from rich near the surface deposits. But the high grade days ., are gone and Alta, like other mining districts, is seeking out the lower grade ores further beneath the earths crust. Spurred by the discoveries at Alta, prospectors swarmed over the mountains to Park City on the east and American Fork Canyon on the south where new mines were discovered. Park City While the first discoveries at Park City are the subject of some disagreement, the location of the Walker and .Webster-claim-s by Rufus Walker were first. This was in 1869 the among and by 1872 numerous other filings had been made. The incident that really stirred Park City to life as a mining district did not come until 1872. This was when George Hearst, then a mining scout, bought the Ontario mine for $27,000, and quickly placed the mine in production. Hearst, a Californian, was the father of William Randolph Hearst, noted publisher. (The eighth and concluding article in this series will ' appear soon in these columns.) Resuming Work At New Test VERNAL, Utah Prilling op- erations at the Carter Oil Company Knudsen No. 1 wildcat test well, located 7 miles southwest of Vernal were resumed this week, according to a report released Tuesday by Carter officials. With the well at the 465 foot level, drilling was stopped a short time ago in carder to set a surface pipe. Informants from Carter Oil advised Tuesday that this had been done, cement pour ed, and that they were waiting for the concrete to dry before going .deeper.., v. Concrete poured around surface pipe requires a 72 hour Tuesday ETAL MINING INDUSTRY .drying period, and on had tiie process nearly drying ' OF UTAH run its course. . . ! During World War II, when it was decided that America was to become the arsenal of democracy, we were called upon to supply maximum quantities of all of our natural resource products, including metallics, and fuels. Because of the difficulty in securing an adequate supply of many of these items to take care of the unprecedented demands, the country became conscious of the importance of our mineral resources,' both from the standpoint of national defense and for normal civilian requirements. The United States Bureau of Mines and the United States WASHINGTON, July 25--A Geological Survey decided to minimum of $100 worth of la- - ' make an appraisal of our me- bor must be performed on the tallic and part of our thousands of mining claims in ore reserves so that there would be a better understanding the United States, within the of our mineral problems. The next 12 months in order to reUnited States Geological Survey tain ownership in the property, was created in 1880 and the Bu- even the legal requirereau of Mines in 1910. Since ments though for similar work on claims their creation, these two agenin Alaska been have of cies have assembled volumes suspended information relative to our min- until July 1, 1948, it was emeral resources and are therefore phasized today by Secretary of in a good position to appraise the Interior J. A. Krug. our presently proven and indi- Applies to Alaska cated mineral reserves. This inThe folformation was prepared by- able lowed secretarysof reminder from receipt reports engineers and geologists, but Director Fred W. Johnson of the it makes no claim to being ex- Bureau of Land Management haustive as to our total mineral that many U. S. claim owners resources. had interpreted an act of ConThey estimate sufficient re- gress approved on June 30 as serves of iron ore for 111 years, relieving them of the necessity performing this annual assmolybdenum 422 years, sul- for That Statute-Pu- blic phur 55 years, copper 34 years, essment-work. 142 mereLaw 19 12 however, lead years, years, zinc vanadium 7 years, and cadmium ly suspended the statutory reas to all mining quirements 16 years. claims in the Territory of Alaska The known reserves of any until the hour of 12 oclock mineral deposit depend, to a meridian on the first day of great extent, on the type of geo- July 1948. logical formation in which the Work Necessary deposit is found, the. cost of deAs a measure of relief ini time velopment necessary for proving reserves, and the market of economic stress or national price of the product. It is the emergency, Congress at times opinion of mining men, who are ordered suspension of assessment best' qualified to evaluate our work. Such a moratorium was ore reserves, that this country invoked during the depression is still well endowed with the of 4893 and 1894 and was again mineral resources of most of Eut into effect during the American War in 1898 and the minerals and metals which War I period from 1917 World we have been producing in vol1921. to Suspension of the reume for years. These include quirements also was authorized copper, lead, zinc, iron ore, and for most of the time from 1932 a number of other important to 1943. minerals and metals. We are far In May 1943, the requirefrom becoming a have-n- ot ment again was suspended for nation in these within a com- World War II but the suspension paratively short time. expired at noon on July 1, 1947, Writers for popular maga- as the result of President Truzines, newspapers, trade,, and mans proclamation of cessation other publications, as well as of hostilities on last New Years some high government officials Eve. Failure to perform the work would lead us to believe that in our nonferrous metals cop- on the claims in continental per, lead, and zinc we are able United States may result in efto measure our natural resourc- forts to relocate the claim by a es and know that within a giv- competitor. en period, varying from a minimum of 12 to a maximum of 34 years, all of the copper, lead, and zinc of this country will have been exhausted and that we will have to depend upon KELLOGG, Idaho The Sunforeign sources for our supplies. shine Cons. Ine. property is reThis certainly is not the case. have ported to have a full face of We are now and always seven feet of ore carrying between 40 and 50 ounces of sil(Continued On Page 2) ver to the ton with a high grade streak 20 inches wide in the center that would assay around 300 ounces, according to reoorts submitted to the stockholders at the annual meeting held here. This is conceded to be the finest showing vet made in the 1200 I. think they will come down. feet of drifting on the 3100 level But I dont think petroleum pric- of the Yankee vein in the Sunes will be lower because they shine Cons, area. Sunshine Minhave already advanced only half ing Co. owns 50 per cent of Sunas much as general commodities, shine Cons. Inc. Norman Smith, and the basic raw material, crude engineer in charge of oDerations, oil, needs a good price to stim- presented the reoort illustrated with maos showing the several ulate finding more of it. commercial ore shoots now disdemand increased Discussing in the drift. closed for oil and its products, McIntosh said: Grandma In order to meet this demand, (looking at her new bathing we will have to produce our granddaughters wells at a very high rate and at suit): If I couldve dressed like the same time import the largest that when I was a girl, youd be quantities we have ever done. six years older today, Missy. ' . Valuation Of Arizona Mines Raised -- MIAMI,' Arizona- '- "Arizona's mining property has been evaluated at $169,22553 t for the 1947-4- 8 fiscal year by the State Tax Commission. The figure was $14,500 less than had been asked by Comissioner Thad Moore but $30,000,000 higher than last yearns figures. Taking under consideration a reduction of more than $7,000,000 in the assessed valuation for 1946 on the Inspiration Copper Companys properties is what brought the increased figure to the thirty million dollar mark. Price Change Joe Hunt, commission chairman, said the 1946 court decision ordering the reduction on .. the Inspiration Copper Companys valuations was based on 12 cent copper. With copper now selling at 21 cents per pound, he said the commission felt itself justified and not , in violation of. the supreme court ruling in not only restoring the assessment cut ordered last year but adding to it The increase was given the mines, commission members said that now are receiving 21 cents per pound for copper, Whereas all the companies have been figuring their, valuations on the basis of 12 cent copper. The biggest boost was given the Phelps Dodge Corporation whos Morenci property was hiked in valuation to $10, 000, $00. . Mines which do not produce more than $50,000 per year are not valuated by the commission, but by the various county assessors. ' Owners Get Wrong Idea Of Claim Bill . non-me-tal- lic - . Declines Not Expected In U. S. Petroleum Prices The oil Pa. industry will remain relatively immune from general price declines because crude oil needs a good price to stimulate new discoveries necessary to meet world-wioil demands, aceconcording to A. J. McIntosh, omist for the Socony-Vacuu- m Oil Company. Speaking before the Eastern Credit Petroleum Managers meeting recently he said: General price levels seem to be out of line on the high side. PITTSBURGH, de cs, . . Sunshine Cons. Gets New Ore |
