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Show Septembei 23, 1955 Page Thiee Rimrock Sets Stockholders MeetT uesday Stockholders of Rimrock Uranium Mines, Inc. have been called for a special meeting, September 27, to consider measures that will strengthen and solidify the company. The announcement of the meeting was made in a letter to stockholders from A. J. Nicoli, Rimrock president. First in a series of periodic progress reports, the letter hailed the discovery and first shipment of uranium bearing ore from a mine near Meeker, Colorado, as an initial step in a dynamic new program of exploration and development. The discovery of an ore vein approximately four feet thick, 30 feet wide in the face of the Meek- 18. ui n lateral i er mne was made which will feed natural gas into Chemical assay showedAugust a 1.67 per the main line from the Piceance cent uranium 308 and 4.46 perCreek field of Northwest Colo cent Vanadium 205, Nicoli rerado. ported. The letter also disclosed the companys statement of condition as of August 15, and introduced new company officers who were elected following the termination In of original management June 30 In addition to Nicoli, new Rim U-O- re rock management includes H. L A new company has just been Rowley, vice president and di established in Tulsa, Okla., to rector, who as president of H. L handle the purchase and sale of Rowley, Inc. and Pe uranium claims, mines and roy- troleum Corp., is LaGrange in prominent alties oil drilling, and pro The first company of its kind duction over contracting 21 states; and Char in the Oil Capital of the World, les F. Hayes, secretarytreasurer United Uranium Co. has represen- and director, who is associated tation in all of the uranium pro-- 1 executive capacities with the var-inducing states including Colorado, ious Rowley interests. Utah, New Mexico, Wyoming In assuming direction of the and Arkansas. company, the new management Home offices are in Suite 1008 has found it for posiFirst National Bank Bldg., Tulsa. tive growth to necessary waive the original Frank P. DeLarzelere, chair- program of development of cerman of the new firm, is a veter- tain mining claims In favor of a an of the oil business. He has more extensive, aggressive polserved with several major com-jani- icy which may be to in both production and yield an earlier, moreexpected productive rate of return, Nicoli told Rimmarketing divisions. Uniteds president, Burton E rock stockholders. The letter detailed the acqusi-tio- n lull, is a petroleum engineer who has had production and pipe of interests in various mining ine experience. He was with claims in Colorado and Utah and Aramco for five years in Saudi added' that as a toward distep Arabia. versification, directors have also to DeLarzelere, acquired leasehold interests in According United fills a need for develop- . certain oil and gas leases near ing communications between Taylorville in Smith Conty, Misbuyers and sellers. sissippi and two producing wells Although there is no uranium in Lafayette County, Arkansas An oil strike on a well mining now in progress in Okla- ,. there is a large group of cent to Rimrock holdings In people who are in- - sissippi has potentially enhanced terested in making sound invest- - the value of the companys leases, ments and developing properties the letter said, wherever they may be. Proposals to be discussed at the All of Uniteds principals are special meeting of Rimrock stock-well known throughout the oil holders include a change in porate name to Rimrock Tide- In addition to offering uranium lands, Inc., a 20 to one reverse properties, DeLarzelere advised stock split of company stock and that the firm is equipped to han- - the authorized capitalization of die oil producing properties,' the company at five million farmouts, leases and drilling deals shares of new twenty cent par as well. value stock. lu-mc- I IMPORTANT STEP Wrapping machine carried by side boom tractor pauses in the important job of applying protective coating to pipeline. Terrain is typical of section of Colo rado north of Douglas Pass. Note black prime coating has been applied to pipe ahead of wrapping machine.. In background are sections of pipe frabricated and primed for installation. SOLD BUTTE HOLDINGS Sees Sterling Ore In Sight T Progresses rans-Westo- rn A progress report to be released to stockholders of Sterling Uranium Corp., will recommend a stripping operation on the Companys 57 acre Monument Valley lease, to replace underground workings, which the report says produce 800 to 900 tons of ore a month. The report estimates 500,000 tons of ore in sight, and recommends erection of an upgrading mill. The report will announce recent acquisition of 307 acres in the Red Mesa area containing claimed ore deposits that assay .48 per cent with a claimed potential of 15,000 tons of ore per acre at a net per ton of $30.00. The progress report will say drilling is under way in the Tinhorn tract, half mile south of the Monument Valley lease. It also will point out that the Companys Naturita properties total 340 acres and that the Company has 560 acres in the Red Canyon district. Other potential ore properties of Sterling, listed in the report, are four groups of 1420 acres in the Circle Cliffs, district; the Uranium is progressing rapidly in its mining on the operation company's Gold Butte property, 17 miles Soundest of Blanding, it was announced by Arnold L. Brown, chief Trans-Wester- n Surface installations, including engineer for roads, campsite and ore bin are now complete. To date, drifting operations have been extended a little over 200 feet toward the main orebody which contains an indicated ore 5,000 feet of rim stripping has reserve of approximately 7,000 justbe en completed by the comtons. The main ore zone is now panys bulldozer. An examination only 40 feet away and Company of the exposed rim, made by the officials expect to hit the main companys engineer, disclosed ore body this week-end- . several zones of mineralization We had encountered two min- that warrant further investigaeralized trees in drifting to the tion. main orebody, from which we One zone, in particular, is eshave shipped 20 tons, and have pecially encouraging, said En just encountered our third min- gineer Brown, who added The eralized zone, Mr. Brown de- area of mineralization, thus far, clared. is 30 feet wide and three to four According to the company geol- feet thick, and contains heavy ogist, Sherman D. D. Gardner, copper staining, a good thickness he main orebody is a bedded de- of carbonaceous sand and a very posit and has only been drilled high radiometric count. out on three sides. The last drill According to the count, the holes going into the hill were zone contains commercial minjetting better, with the last eralization right from the surcnown hole indicating 10 feet of face. We plan immediate exploration of this zone to determine good ore. Future exploration of the ore its possibilities. zone will be by extension of the resent drifting operation in con-unction with the mining of the SALE: 100 Shmarump presently known orebody. Claim-GrouTrans-Wester- n. 1 Black Hawk tracts on Island Mesa; the Doris tracts In Paradox On one of Valley and the Beth tracts in the other properties, the Deer Flat Klondike district, of Gypsum property on Elk Ridge, which is Valley, San Miguel County, directly west of the Hideout Mine Trans-Wester- of White Co., I es l adja-homa- Mis-resource- cor-industr- y. I p ns Canyon Mining Company Forms Oklahoma For Sales next to group reported having $7,000,000 blocked out. Phone 4569, Grand Junction, Colo. DRIVE IT YOURSELF COMPANY A NATIONAL SYSTEM J. A. HOGLE 523 West Sprague Ave., SPOKANE Member Salt We Specialize 132 Main Street SALT LAKE CITY In DEAS0N AND SERVES YOU NICHOLS 35 North University. PB0V0 York Stock Exchanges Lake-Spokane-N- loans Made & CO. FROM Assay and Chemist COAST TO COAST Mining Stocks on Listed Mining Securities 2380 Washington Bird. OGDEN 160 Sonth West Temple Phene EL 62 LATE MODELS 27 Walhei Place LOW RATES Phene EM 56 |