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Show rfaia "Jet 1teuA ctf fileAt r in The Oil V and Mining Wotld' i City. Utah. June 10. 1955 Vel. 26; No. 23 President Goes Fc. 10c One Yeai $3.00 Pei Copy Acquires Wyoming Propertyl New Mar to Ship From Cherokee Mine U-O- re President A. F. Enyart, of Paramount Uranium Corp., tries a shuttle car ride In his company's mine, where drifting operations are now underway. Right photo, workmen load truck with ore from mine. (See Paramount operations story on page 3) SUBSTANTIAL PRODUCTION Temple Announces High Grade Ore Strike on Utah - Colo. Line A uranium ore discovery 20 feet thick with an assay value of .52 per cent was announced today by officials of Temple Mountain Uranium Co., Salt Lake City, and Consolidated Virginia Mining Co., Moab, Utah. The strike is located on the Stock Gramlich lease east of o borLaSal on the der. The two companies are holders of a joint lease on the propUtah-Colorad- erty. report . substantial the find. from production of President Temple is Herman N. Ileinecke, Salt Lake City. Vir- Officials High Grade Knapp Uncovers Large Ore Body A large body of high grade ore ranging up to .75 has been unon Knapp Uranium covered Claims in White Canyon, according to Clyde J. Knapp, president. .Knapp reports the body of ore is more than 100 feet wide and ranges from two feet thick at the edges to 12 feet thick in the center of the channel. How far the ore extends back under the mountain has not yet been determined, Knapp said. The company has moved a combination loader, miner and bulldozer from Salt' Lake City, company headquarters, to its diggings. Mining operations will soon be underway, Knapp $10,-00- 0- ginia president is Arthur B. Thomas. A recent progress report by Temple Mountain Ufanium indicates that Temple Mountain and Consolidated Virginia also jointly control 70 claims on North Cottonwood Creek, 75 miles southwest of Moab, on the west flank of the Aba jo Mountains. Twenty-on- e drill holes are reported to have penetrated ore of a grade of .3 uranium oxide tons thus proven. with 100,000 A nest of drill holes on another section gave probe results to 4 from .08 uranium oxide across widths of up to 11 feet of Chinle D standstone indicating a high grade ore. The new crushing and jib plant at Mona, Utah will start operations in three weeks with a capacity of 175 to 225 tons daily, Temple Mountain officials disclosed. Tar Baby Gets Wells It was learned today that Aladdin & Co., Paramount Oil Corp. and Tar Baby Mining Co. are negotiating an agreement that will give Tar Baby 80 acres of land of Paramount Oil, on which are nine producing wells. Tar Baby is to receive the assignment of royalty on these wells plus any new wells discovered. It was disclosed that oil is being shipped from the property this week and proceeds from oil shipments ought to be accruing to Tar Baby by June 20. The wells are in the Blackwell field, Kern county, Calif. Boyles Brothers have drilled on the Spring Water claims of Tar Baby to a depth of over 40 added. The option on the Sandy group of claims has been picked up by the company, the president reports, and royalties on the Homey Toad and Mirador claims have been purchased. He noted that all property belonging to Knapp is now free from royal- feet officials of Tar Baby of any kind. ties or over-ride- s Casper firm Takes Over Cal Uranium Sale of the outstanding common stock of Cal Uranium Corp. to Mountain Mesa Uranium Corp., Casper, Wyo., has been comdollar pleted in a multi-millio- n towas announced it transaction, day. M. K. Ruddock, California uranium executive confirmed the arrangement in a statement agreed Survey Denver Bureau to with II. O. English of Casper New Mar Uranium this week anonunced it and Maurice Yates of Salt Lake DENVER will be shipping uranium ore by Monday from its Cherokee ore City. The latter are chairman of the body in the Beaver Mesa area of Mesa county, Colo. and president, respectively, board Ralph Simpson, president of of Mountain Mesa Uranium Corp. the company, also reported the Family-Owne- d company has completed a deal Cal Uranium, a corporation to acquire 100 acres of uranium held by members of property near the Lucky Me Mine primarily the A. B. Ruddock family of in the Gas Hills area of Wyom- Los Angeles, California and Dening. ver, Colorado, has proven ore bodies valued at between twelve the Meanwhile, Simpson said, seventeen million dollars. and company is going ahead with an It is one of the well known extensive program in several operating properties in the Big areas. Indian District, San Juan CounWe are currently core drill- ty, Utah. ing in the Beaver Mesa area to The joint statement said: Only Bureau Denver block out an apparently high a portion of Cal Uraniums twenty-Survey Mile High grade ore body, Simpson said. six claims had been drilled PUEBLO, COLO. Oil Co. of Pueblo Wednesday reNew Mar is also core drilling thus far. vealed it has hit its seventh com- in the East Canyon area of Utah," Future Financing mercial oil producer on a 1,100 Simpson continued, and we Yates and English said the puracre lease in Jones county, hope to have an ore body blockof Cal Uranium mine had chase out soon. Texas. ed there been privately financed. HowDan H. Peaker, president and Simpson .said his company chairman of the board, said the plans a strip operation near ever, they said public financing company also has an interest in Meeker, Colo., where an ore by Mountain Mesa Uranium ' -- ' in a was the definite future a new Pearsoll field well in body was discovered last fall sibility. Trio county, Texas. The well, the close to the earths surface. The concern is also Involved the which in company fourth Pearsall in the the purchase of other uranium in interest an has of 274 barrels recovered properties and In oil interest in field, test. a oil on Wyoming. As a part of the acquisition. The company, which has inMountain Mesa shareholders terests in 52 wells, may have its met in the firms office in Casper, third near producer for the of area Pool Dale in the week Wyo. to effect a one for five reverse split. Texas. Caldwell county, Five shares of stock would be Meanwhile, Mile High spokesturned in for one new share. men said a program This would give Mountain Mesa has started on 27 uranium claims an outstanding capitalization of east of LaSalle in San Juan approximately one million shares. county, Utah, in which the comThe purchase of Cal Uranium pany has an interest. by Mountain Mesa Uranium Is 12-ho- ur core-drillin- g Forming Yukon Lewis A. Ray and Jules Singer, of Allied Uranium Exchange, are now organizing the Yukon Ura- Mineral Canyon exposed on TV Sunday Show Uranium Telecast nium Corp. The new company has producing properties comprising 100 claims in Utahs White Canyon, Red Canyon, Prince Albert mine at Monticello, and strip mining operations in Brushy Basin. Uranium has hit the television screen in Salt Lake City. PARKER NAMED telecast 9:15 at p.m. can every Sunday now be seen over Station KU Set by Moab NEW PRESIDENT OF HERCULES CO. Stockholders of Hercules Uranium Co. recently elected Joseph E. Parker, Salt Lake City, as new president of the firm. At the annual meeting held in Hotel Newhouse, stockholders also heard the financial reports of officers and a report from Glenn McClung, president of McClung Mining and Exploration Co. McClung is directing drilling and development of the companies properties. McClung advised stockholders of an ore body discovery in the (Continued on Page 3) Undeteimined For Utahns A regular te TV sponsored by the Moab Brokerage Co. Direct reports from Moab will be seen with a dramatization of the spectacular story of the development of Moab Uranium and associated uranium firms. Feature for Sunday is Dr. William Lee Stokes, professor of geology at the University of Utah. Mr. Stokes will identify uranium bearing strata of the Colorado Plateau. He the result of the syndicate arranged by English and Yates. The syndicate has a continuing option on the Ruddock families Almar Mining Corporation and more than 700 claims in the Big Indian District. will answer questions from viewers based on inquiries made from the initial program last week. Answers will be shown through the medium of a film collection. Whether or not these properties will go into Mountain Mesa Uranium Corporation or into another corporation has not been determined. Mr. Ruddock said that the Centennial Developing Co. was now sinking a three compartment shaft to six hundred feet on the Almar Mining properties in the north end of the Big Indian District. Yates and English said that the merger between Mountain Mesa Uranium Cor. and Midland Uranium, Inc., has been completed. There are no other mergers pending they said, despite considerable discussion in brokers circles in Denver and Salt Lake City. In the near future, the Board of Directors of Mountain Mesa will be reorganized and enlarged to give representation to a number of the present prominent stockholders interests. |