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Show rj u a. In This Issue - Complete Report Of Natl Western Mining Conference is 0 t- - w Western Mmemf 8t4wey : "Jw WeurJ Mineral The Western Science Aids Mining World Survey. Salt Lake City. Utah - T c: c -- ctf )tcJt Significance in The Oil and Mining World" Vol. 26; No. 51 1 a pvr x February 10. 1956 Lakeside fttanairli Jxpecis Alio; income Soon 20,000 Royalties from 285 Claims Boost Total, Turner Says Pubco Budgets for Wildcat Project MOAB, Utah Lakeside Monarch Mining Co., recently reorganized, expects an income in excess of $20,000 monthly from The board of directors of Pub-- i uranium royalties after the next 90 days, stockholders were inDevelopment, Inr., of Albu- formed in a report scheduled to be mailed here today. querque, has approved a $1,400,-00Within 90 days Lakeside Monarch properties will be procash budget for 1965, 36 per cent of which will be spent on ducing from 1,500 to 2,500 tons of uranium ore each month, the report says. Company income from royalties on those propwildcat operations. should range from $20,000 to $30,000 monthly. D. W. Reeves, president of the erties Control of Lakeside Monarch firm, said that the corporation's was acquired by Jack C. million-dolla- r ore body; and othcapital stock will be increased recently er Colorado mines. uraknown Moab from two million to five million Turner, widely shares at $1 par value if stock- nium figure, and associates. TurLakeside Monarch mines have holders approve the adjustment. ner has been retained as been leased to others for operamining No offering is to be made to the tion, with Lakeside retaining consultant. general public. high royalties. The stockholder report said If the adjustment plan is apNew officers of the company proved, the company will become Lakeside Monarch now owns 264 include Richard N. Mohler, Moab, Pubco Petroleum Corp., so as uranium claims in Utah and ColoE. Mohler, Robert president; to identify the company with the rado, and 21 lead and zinc claims and general Moab, Reeves n Tooele oil and gas business, L. Utah. L. County, manager; Taylor, Salt Lake isaid. vice president, and Ellis R. Four uranium properties now City, Cook, Jr., of Moab, secretary-treasureThe plan will be submitted to are in the production, Other directors ' are report the stockholders at a special meetThese include mines on says. the K. Donald Andrews, J. Earl ing iEe. 23. If approved addi- Martin Mesa claim group in Smith and Earl Miller, Jr., all tional shares of common stock will be issued to each sharehold- Montrose County, Colo., with ore of Moab; Jess J. Campbell of er for each share held as of that reserves valued at $1,000,000; the Grand Junction, Colo;- - and EvAllen group in Red Canyon, San erett Blackburn of Placerville, Juan County, Utah, also with a Colo. New Mexico Bureau 0 vice-preside- Radio sending and receivUNDERGROUND 8TETIIESCOPE ing sets small enough to fit inside a drill hole can be lowered as far as 3,000 feet to search in all directions for ore bodies thus eliminating expensive drilling. Here is a completed sender-receivin Canadian lab. r. er Gordon Bice Photography, Toronto, Canada Photo Vagabond Mining Merges Into Uranium Industries LATE REPORTS I After extensive negotiations, per month of .30 per cent or Uranium Industries, Inc., an Okla- letter ore. The ore is shipped to homa corporation and Vagabond Vitro of Salt Lake City. Approximately $100,000 worth Mining & Leasing Corp. are comUraof equipment is owned outright pleting their merger with surnium Industries being the by Uranium Industries. Mr. to Negotiations on a according viving company, mine near Denver, Colorado, K. C. Mittry, President of Uranium Industries, Inc. In addition are under way at this time. This to equipment, Vagabond will put mine has been a major producer many properties into this merger. and it is planned by Uranium InFive claims of Thorium near dustries to reopen it upon com-Salmon, Idaho right near the pletion of the negotiations. Salt Lake offices of Uranium area that recently sold for a reare located at 1140 Industries $11,000,000.00. ported Work will begin on these First Security Building. claims as soon as weather permits. Also there are about 30 claims of Cinnebar (Mercury) on Pilot Mountain, Nevada, joining According to information received this week by the Survey the famous Mina mine. Exploration work is progressing on these an article in Jan. 6 issue concernclaims. Vagabond also has the ing the acquisition of the Lost only two claims left on Temple Dutchman Claims by Century Mountain proper that have never Uranium Corp., is inaccurate. The Lost Dutchman claims been mined. were checked that sold, according to John W. The Geologist M. W. Farrin these claims, Dr. Rutenberg, N.Y. attorney, to from Century, Horseshoe Bend Uranlum Hoover, has reported that all indications of the ore channels Co., and Ranger Lake Uranium on Temple Mountain, the main Co. as joint owners. The information that James body of ore should be on these two claims. Anthony Securities Corp. is planUranium Industries has the ning to complete a merger with Vanadium King claims No. 1, 3, four other companies is wrong, 5, and 7 joining Vagabond on says Rutenberg, who denies that Temple Mountain proper. Mau- the company has any thing to do rice Castagne, Chief Engineer, with a merger. The reference to Rare Earth states that drilling to date on these claims indicate in excess Mining Corporation of Canada of 50,000 tons of commercial Limited as contemplating merger grade ore. Current shipping from with Century is completely erthese claims is about 400 tons roneous, Mr. Rutenberg said. -- lead-gold-silv- er - . RETRACTION . nt Conference Hilights Navajo Cliffs Uranium Corp. is planning an immediate core drilling operation of the copper claims of Spring Canyon Copper Co. The claims, known as Belle-vie1 to 9, are located in the Mizpah Mining District, Elko County, Nev. According to Fred Thompson, geologist, the veins on these properties suggest great depth and the water table is only 400 to 500 fcet below the surface indicating a very excellent possibility that a large ore body of high grade copper will be encountered at this level. w I Jesse Johnson Vague On AEG Buying Plan By O. D. QUINLAN Survey Feature Editor The 59th annual meeting of the National Western Mining Conference, sponsored by the Colorado Mining Association, at Denver last week-enproved one of the outstanding conventions of the winter for the mining industry. One of the largest conventions from point of attendance, it was made interesting by a large exhibit of industrial equipment relating to uranium mining and presenting nuclear energy and mining chiefly. Robert S. Palmer, executive commercial uses of uranium, reand chairman of quire of uranium. large tonnage the convention, performed and Predicts New Find arranged the details involved, inHe said experience in the last cluding preparation of the program and housing of the num- two years, has led to discovery erous visitors from all over the of additional large ore reserves, Rocky Mountain area. particularly in New Mexico and it is other large discovUranium mineral producers eries possible be made in the next who were expecting some indica- few might years. tion that the government purchase program may be continued Johnson said all of these facafter 1962, were somewhat disap- tors have made it difficult to depointed when Jesse C. Johnson, cide what the situation might be Director of the Division of Raw after 1962. Materials of the AEC, Wash., Addressing the D.C., a principal speaker, failed Banquet in the Lincoln to dispel their doubts. Room of the Shirley-SavoHotel, Atomic Discussing Energy Simon D. Strauss, of New York, Commission Developments, Mr. vice president of the American Johnson said there are too many Smelting and Refining Company, uncertainties, over the next sev- discussed Does Agriculture Poleral years, with most of the pro- icy Affect Mining. He explained the barter production of uranium going for na tional defense, and he believes gram of the Agriculture on Page 3) it will be several years before d, vice-presiden- Utah Securities commission is investigating apparent violations of the securities laws by two local uranium companies. Chairman Milton H. Love, USC chairman, said the matters may be referred to the County Attorney. Love also said he has notified the Western Trader that they cannot participate as agents in offering securities due to their failure to renew'TheirTicense'on Sn. l" Oil Securities and Uranium, Inc., drilled to boles fur; oi recently on their Clarks Valley property in Carbon County, both of which according to N. G. Morgan, Jr., President, were found to be dry holes. The holes were Mr, plugged and abandoned. Morgan said Oil Securities does not contemplate new commit ments in exploratory work for the time being. t, Gold-Silver-Uraniu- m y Depart-(Continue- d |