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Show r U OP u LIBRARY CITY I : .....13.5c Lead (per lb.) Gold (per oz.) .$34.9125 27c Topper 11.5c Zinc (per lb.) Silver (per oz.) .85.25c new mined .... .'it ' , r METAL PRICES ; ; VoL 24, No. 11 One Year $2J5Q Exploration Contracts Let By DMEA Producers Of Tungsten Get New Deal Ten exploration contracts for amounts ranging from $1900 to $112,000 were executed in January, 1953, by the Defense Minerals Exploration Administration. Projects are located in Arizona, California, Idaho, Montana, Nevada, North Caroline and Virginia and involve search for lead-zinasbestos, manganese, tungsten, mica am' Restoration of virtually free domestic trading in tungsten and. molybdenum concentrates has been announced by the Defense Materials Procurement Agency. The changes do not ap- controls of tungply to end-us- e sten and molybdenum administered by the National Production Authority. Under an amendment to the D M P A tungsten regulation (Mineral Order 6), producers and dealers are no longer required to obtain allocations authorizing shipments to consuming firms, and consuming firms are no longer required to obtain authorization unless they want to buy tungsten ore of foreign origin purchased for resale by the General Services . r $ c, 4 uranium. In' the following compilation the name of the contractor, county, commodity, govern- ments part and the contract value appear in that order ARIZONA Yuma Metals Inc., Yuma, $37,500, $75,000. lead-zin- c, ( Metals Asbestos Corp., Gila, asbestos, $2745, $3050. Jaquays Mining Corp., Gila, asbestos, $10,800, $12,000. CALIFORNIA Lakeview Manganese Mines, Plumas, manganese, $9750, Earnings accumulated through years of operation of mineral properties located in the famous Tintic Mining District Utah, are now being invested in other promising enterprises, including oil, manganese and chemicals, by Tintic Standard Mining Company. Shown above is the town of Dividend, Utah, which became established as a thriving mining commiunity as result of metal production from the rich Tintic district. $13,-00- 0. 1 k IDAHO Bradley Mining Co., Lemhi, tungsten, $84,000, $112,000. MONTANA Irving G. Irving,". Silver Bow, manganese, $5250, $7000. NEVADA Nevada America, . Uranium Pershing, Co. of uranium, $820.50, $9145. ' Drillers Active In Basin Area as released by the Scouting of Carter Oil Co. vision A. Reid, Macon, mica, G. E. Houston No. 1 Located $1710, $1900. SE SW, Sec. 18, IS, IE Total VIRGINIA 10,142 feet. Acidized with depth Gold Mine Belleville Ltd., 3000 Produced 182 barrels zinc-leagals. $14,125, Buckingham, oil load and 3 per cent acid wa$28,250. 12 ter in, hours. Produced 218 barrels load oil and 97 barrels In formation oil plus 1 per cent acid water in 24 hours. Produced 201 barrels oil, .8 per cent basic sediment and acid water in 24 hours. Testing. Whitlock-Taylo- r No. 1. (LoOil and gas operators plan to NW Sec. cated 24, IS 1W SW, drill 1113 tests in New Mexico Total 9958 Swabbed feet depth this year as compared to 1053 from 9500 L. at F. feet with in 1952, the Tulsa Oil and Gas 9400 12 hours recovIn feet Journal predicted. fluid, 8 per cent The forecast, based on drilling ered 52 barrels 92 acid wjhter, per cent formaschedules of oil companies and 11 oil. tion in hours swabindependent' operators, includes bed 9 barrels formation oil, 7 184 projected wildcats and 929 wano basic cent sediment, development tests in known per 50 minutes, ter. In 9 hours, fields. swabbed 10 barrels oil, 4.2 per During 1952 In New Mexico, cent acid water and basic sedthe publication said, 525 tests iment Core No. 10: found oil, 319 found natural gas, recovered 9 feet Core No. 11: and the remaining 209 were dry recovered 29 feet. or service wells. Total footage Drill ' stem test No. 12, drilled reached 5,832,563 feet. feet, failed. Drill stem test New Mexicos crude oil pro- No. 13: 8 feet, failed. duction for the year totaled Drill stem test No. 14: barrels, making a daily feet packers failed. Drill average of 160,451 barrels, the stem test No. 15: 8 feet, Journal reported. The state had packers failed. 7619 producing wells at years Roy E. Sutton No. 1 (Located end. Its average production per Walker Hollow, SW SE, Sec. 5, well per day was 21 barrels as 7S, 24E Drilling at 3685 feet. compared to the national averOrlan L. Johnson No. 2 (Loage of 13.5. cated Walker Hollow, SW NE, W. d, Drillers New Mexico Plan Activities 9907-992- 8, 99-29-99-58, 9907-995- 8 9907-995- 58,-725,0- 00 9900-995- . Sec. 9, 7S, 24E Lost 130 bar3107 feet Drilling Nickel Restrictions rels mud at Many civilian uses of nickel and nickel alloys have been restricted by various governments, and manufacturers have been forced to improvise substitute materials. Industry has cooperated fully in complying with these restrictions. Through consumer research efforts and those of the International Nickel Companys technical staff, opportunities for conservation have been well implemented. Gloria Bamburger No. 1 (Located Walker Hollow, SW, NE, Sec. 7, 7S, 24E Total depth 5338 feet, plugged back from 5730 feet Shut in, waiting on swabbing unit to complete well. Gloria Bamburger No. 2 (Located Walker Hollow, SW, NE, Sea 8, 7S, 24E Total depth 5500 feet," plugged back from 5640 feet. Ran rods to 5191 feet and hit obstruction in at 3942 feet. the governments five year -- do- mestic purchase program. This runs to July 1, 1956, or until short ton units (20 pounds) of contained tungsten trioxide have been purchased, whichever occurs first The basic price is $63 per unit in standard-grade concentrates. Mr Young pointed out that Operations of Tintic Standard Mining Company, formerly one I although the tungsten supply will probably I situation has eased up enough of Utahs major producers of metals, ! show a moderate loss for 1952, according to a review of the firms I to make it possible fo drop alvarious activities prepared by the Oil & Mining Department of locations, the. bulk of the domestic production has found a J. A. Hogle & Company. ready market Thus far, the Current developments in imgovernment has been required portant segments of the com- one well was permitted for. ev-panys business 'are as follows: the prlCS WOODLAWN FIELD, TEXAS ery 640 acres. At some future guarantee. an With however, they might be market for 2,911,807 additional Tintic Standard holds an 8 time, as oil reclassified which per cent interest in 3660 acres would allow closer wells, one units, it is expected that domesupon which five wells have well per 40 acres. spacing in tic production will continue to been drilled, three of them the 3660 acres is a Included block increase for the remaining peproducers. Income from sale of located about two miles south riod covered by the purchase gas, oil, and distillate amounts of the main field. This repre- program. to .about $30,000 per year. Al- sents a farm-oThe amendment to the molyfrom a major bdenum though these wells produce dis- oil company. A well will (Mineral regulation be tillate as well as gas, they were started on this lease within the Order 8) suspends the allocation next 30 days. Tintics Standard of molybdenum concentrates to will put up its proportionate domestic consumers, but leaves cost if the well is a producer export of the material under The U. S. produces and a maximum of $5000 if a allocation. 90 over per cent of the free dry hole. worlds supply of molybdenum COOKE COUNTY, TEXAS concentrates, .and foreign de- Eureka Standard, 64 per cent mand is still 'in excess of sup owned subsidiary, has an un-- 1 Mr. Young said. Homestake Mining. Company, divided 22 per cent interest in ply, Supplies of both tungsten and which started taking gold out of 1069 acres on which 48 shallow to domolybdenum the Dakota hill in 1877, this wells are producing. Eureka mestic users available have improved week reported net income of Standards proportion of the insince the allocation materially a share come from these wells is ap$4,248,377, equal to $2.11 orders went into effect in for 1952. This compared with proximately $10,000 per year. $4,450,731, or $2.22 a share, in EASTLAND FIELD, TEXAS In terms of short tons of 1951. Eureka Standard Tintic and concentrates contain- The 75th annual report said Standard each hold a Vi interest tungsten 60 per cent tungsten trioxing output of bullion last year was in 232 acres and a in interest ide domestic produc-- . (W03), $16,379,986, up $893,304 from 100 acres. The first well drilled tio increased from 1403 tons in 1951 because of a larger toneach company holds the first quarter of 1951 to 1758 in which nage mined. a interest produced gas at tons in the third quarter of Donald H. McLaughlen, pres- an estimated rate of 3 million 1952. General Imports (all reident, said mine reserves at the cubic feet per day. This gas ceipts) per quarter during the years end still were substantial is being sold for about per same period increased from 1294 despite the fact that 81 million MCF. There are no immediate tons to 4785. Consumption, at tons of ore have been taken plans for drilling additional the same time, dropped from from the mine. 3318 tons in the first quarter wells' in this area. of 1951 to 2089 tons in the third Referring to a Calumet and UINTAH BASIN, UTAH Hecla Mining Company properTintic Standard has acquired quarter of 1952. which in at Tonopiah, Nev., ty Certain of the very pure tung- a 5 working interest in leases Homestake ' is. interested, the sten concentrates remain in located 5121 acres, all report said results so far are covering short supply, Mr. Young said. Uintah County. During 1952, enfurther exploration but the in this For 5323 reason, allocation of to test well was drilled evidence now available is stilll afeet comon ground where the governnenimported tungsten too limited to appraise the valwell has been retained. Also, DMPA This had interest. pany ue of the discovery. was subsequently plugged and retains, in the amended order, A good grade of silver-golabandoned. A second test well, authority to issue special direcore has been exposed for 265 the Signal-Ulnta- h Basin well is tives for the delivery of tungfeet along a vein from a shaft located about two miles east of sten ore and concentrates. of about 300 feet, the report Continued on Page 2 Continued on Page 2 said. ' v-- non-ferro- us mica, $4680, $5200. . Administration . Howard I. Young, deputy administrator of DMPA, emphasized that modification of the tungsten order in no way affects Tintic Standard Acquires Interest In New Projects RQOSErELT, ;Utah FollowNORTH CAROLINA Macon' Mica Miners, Macon, ing is the summary of drilling Di. i 1 640-acr-e ut Homestake Mine Boosts Gold Output mid-195- 1. i - 1- -5 6c 1-- . d 1 |