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Show OF U LIBRARY OJ ; CITY 1 . -- Vo METAL PRICES ; r Features Mining, Oil, Financial Vol. 21, No. 12 Salt Lake City, Utah, March 20, Operations I M 1953 At Getchell Show Profit rt X s 't s. ' ' ' v I... ' V v c i . t i, i S s 13.5c $34.9125 27c 11.5c 85.25c -- One Year $2 M t t.. New Loans 'g,-:X;4- . . Granted For Exploration new exploration ' t " I- -- , V r ' $IT Wwi - Lead (per lb.) Gold (per oz.) topper Zinc (per lb.) Silver (per oz.) new mined RENO, Nev. Income of $2,787,-86Twenty-si- x from 1952 operations by contracts involving search for Getchell Mine, Inc., is reported additional deposits of seven difby George Wingfield, president, ferent strategic minerals In in his annual report to stocknine states were executed by holders of the corporation. he Defense Minerals Explora-;io- n Administration during the After deduction of operating two months of this year, first incosts, provision for federal of the Interior DougSecretary come, tax and other expense, the las announced. This inMcKay company showed a net income 462 the number of to creased of $122,425 for the year. contracts executed by DMEA Income included $2,589.58" since establishment' of the agenfrom tungsten production from cy. During the same January-Februar- y the companys own prepertier period, the DMEA and $19$, 221 from custom mill78 applications for asreceived ing. " sistance in exploration for 17 minerals in 15 states and Alaska. Principal items of expense were mining, milling, $787,231, The new projects, which are and located in Alabama, Arizona, $317,012, depledepreciation tion $175,418. California, Colorado, Idaho, Montana, Nevada, North CaroWingfield reported that the of tons milled 149,000 company lina, Utah and Virginia, involve ore and that gross tungsten exploration for asbestos, lead, sales amounted to $2,589,585, inzinc, manganese, tungsten, uranof cost ium and mica. Estimated costs $306,495 tungsten cluding ore purchased, an increase of 4S Calif. Mi 1952 of Idaho revenues ids of the exploration covered by VALLEY, rF'".s Maryland Corporation reported 1951. over cent 26 contracts range from the 1951. to per The lower tonnage milled was due $1,282,761, compared with $1,828,922 in Most of the production was for mica in North Caro$1900 the discontinuan?a of leasing operations in September. There has been no production from sold to the federal governments to lina in $242,860 for lead-zin- c formerly leased areas since, C. L. Allen, controller, reported. defense purchasing agency, and Idaho. cost estimated The total Incomplete figures indicate an operating loss of about $50,000 before depletion and some was sold to the tool steel of the 26 contracts is $1,140,384. depreciation. He said is it expected industry. The 78 applications for govthat most of the production this ernment financial assistance year will find a ready market under the DMEA (program rewith the federal government or ceived in January and February the tool steel industry. from mining operators searchThe years activity included . ing for additional deposits of 17 . milling of ore from the Riley different strategic minerals in For United States Steel Corporation, the year 1952 was marked mine for U.. S. Vanadium un15 states and Alaska, had estider a contract entered into in by the pouring of its billionth ton of ingots and the opening of mated costs of projects ranging the completed portion of its new Fairless Wortcs, and marred by WjALLAME, Idaho July. mica' in North Mine from $2650to for In a footnote to the main re- one of. the longest strikes in its history, Benjamin F. Fairless, for lead-zin- c $700,000 Carolina, MinSunshine from production both said that in port, Wingfield in Idaho. The total estiof the board of directors, says in the corporation's an- ing Company's big underground the company's underground chairman, cost of the proposed projmated made benual report for 1952, public today. operations in the silver belt mines, Granite Creek and ects is $3,579,394. totween Wallace and Kellogg MAt the end of the year, the extension, the ore the DMEA program, Under talled 222,577 .tons during 1952, step in corporate strucdevelopments continue to be latest amount of Government the a company official reported this ture revision .was effected favorable. in the cost of an week. participation whereby the ' United States Steel exploration project is 50 per. Corporation has become priis This 'than greater slightly cent, 75 per cent, or 90 per cent, marily an operating company in tons the 220,265 produced depending upon the metal or although continuing to own the official the 1951, but, pointed mineral being sought. capital stock of certain of the re1951 was in out, production Following is the list of the subsidiaries which are not enlabor strike. a duced first Nev. The FALLON, contract by executed during Janugaged in steel production," Mr. 7 1950 totaled Mine in of uranium output and discovery nearby ary February. The list inFairless says. tons. to ore U. of attention the name of the contraccludes the gain Ap a direct result of the S. Energy Commission loction of the project by These totals include not only tor, Salaries ranging from $3410 strike, U. S. Steels production, recently been made by George commodity involved, to $10,800 are available to min- shipments, sales, wages paid, C. Coverston, A. L. Robinson production from the Sunshine county, of amount particireinvested for and Mr. and Mrs. O. C property but also tonnages from pation, and government ing engineers qualifying for and taxes andalincome value total of the fell short of the high 40 miles adjoining properties which are contract in that order: of all appointed to federal positions the year 1951. Fallon, During the lat- from Fallon and adjacent to the being mined and developed by under an unassembled examina- levels of ARIZONA the Sunshine firm under opertion announced today by the ter part of the year, however, Rawhide mining district Miami Globe Zinc board of U, S. Civil Service Ex- after the strike was settled, U. Samples of the ore assayed in ating agreements Silver Syn Corporation, Gila, Copper zinc, $31,875, Silver Dollar, Sunshine S. Steels rate of production and Salt Lake aminers, Bureau of Mines. City by the U. S. Bu- dicate, Yuma Metals Inc., $63,750. Consolidated civilian and others. and defense of will Most of these positions shipment lead-zinMines two showed reau of types $37,500, Yuma, g be in the Bureau of Mines, De- products achieved of uranium ore running .368 Metals Asbestos Corp., Sunshine Mining Company levels. and .445 per cent partment of the Interior, and has established the firast perma- Gila, asbestos, $2745, $3050. During the year, there were the candidates accepted will be While tiie discovery was made nent scholarship endowmen; Mining Corp., Gila, asbesstationed in' Washington, D. C., two general strikes and a strike a few weeks ago, it has required fund exclusively for the schoo tos, $10,800, $12,000. Denver, Colo., and other points threat necessitating the shut- time to locate and survey of mines at the University of CALIFORNIA claims and to communicate with Idaho, J. E. Buchanan, presithroughout the United States. down of facilities sthat affected Surcease Mining Co., San Berof the the energy commission, said The work, involving all approximately announcnardino, tungsten, $25,00, U. S. Steel Mr. Robinson, one of the dis- dent of the university, phases of the mining engineer- industry, including on Page 2 last ed Friday. in U. S. coverers. ing profession, will include The resulting loss The big Coeur dAlene distirct production of ingoth was sent in to determine firm, studying mining methods and Steels Samples the nations procosts, conducting experimental 6.9 ntfllion tons. This brings if ores were radioactive and ducer of silver, haslargest the given production would meet government remining, sampling and evaluat- U. S. Steels total new V-- J a gift since university loss from strikes Day two engin to be added to an earlierof $3500 ing mineral deposits, collecting quirements brought gift, in field information on mineral re- in 1945 toftan estimated 18.9 mil- eers from the commission, Floyd func an endowment opera- J. Conklin and H. Clyde Davis, setting up sources and mining practices, lion tons the A crew of five men has in honor of as a memorial increases in rated who went over the property. Investigating health and safety tion of alt; A. former E. late presistarted work at the property of hazards and mine accidents, pre- capacity made by U S. Steel They declared the ore to be dent of theLarson, company. would have commercial grade uranium and American Fork Consolidated paring manuscripts, and plan- hice Jan. 1,Ma1946, cumulative total of importance to the governMines, located in American ning, designing, constructing, represented Fork Canyon, Utah, a company, and inspecting, mine workings by the end of 1952 of approxi- ment They advised the own- New Brazing Alloys and surface plants. mately 19.7 million tons. It is ers of the claims to trench New alloys containing palladi- spokesman announced in Salt Applications should have been apparent that strikes have thus across the vein at points where um, one of the precious plati- Lake today. The road has been completely submitted by March 17 to ob- far nullified nearly all the pro- it does not crop to the surface, num group metals, have been to remove the overburden developed in England for the cleared of heavy winter snows tain consideration for the first duction benefit otherwise availthus into determine if the ore is con- brazing of Nimonlc and other and rehabilitation work in the positions to be filled. However, able from these capacity creases. tinuous. The ore crops at three high' temperature alloys em- mine is underway preparatory applications will be accepted During the last four months points along a distance of 1500 ployed in the construction of jet to start of production. after that date. Persons eligible The company has been grantwill be placed on a civil service of 1951; U. S. Steels ingot pro- feet. engines. These alloys combine rec- an was duction at ed an exploration loan by the notified. at be will and mechanical said Mr. Robinson that properties good yellow register when they are being considered ord level. This was attributable outcrops were what first at- elevated temperatures with high federal governments DMEA Continued on Page 2 resistance to oxidation. agency. tracted their attention. h for appointment. 0 in-par- t . Long Labor Strike Retards Production Of U. S.: Steel Production' At Sunshine Records Gain i , Get-chell-Ri- ley New Uranium Discovery ; Jobs Open To Mining Engineers Near Fallon 10-d- ay 251,-87- has Enge-bretso- n, ' c, record-breakin- $75,-00- 0. Ja-qua- ys five-sixth- . $33,-Continu- ed Work Started At American ForkConsolidated . . all-ti- - me I K i |