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Show Oor Kiuii ctf ifltet The Western Mineral Survey, Salt Lake City. Utah To1.l27; No. 7 Royal Ships 100 Tons On 2 Claims Royal Uranium Co. has shipped 12,000 tons from two claims on Indian Creek properties in southern Utah and is continuing shipments at the rate of 100 tons daily. This report came Thursday from George Peterson, Salt Lake City, president of the Utah cor- poration. Royal holds 300 acres in the area, Patterson said. Ore is being shipped to the Moab ore buying mill. Sample assays from the ore shipped assay .30 per cent, he said. A crew of 16 men is working the property. Tunneling, Patterson said, has reached 3500 feet. Plans are being made, he said, to increase production in the near fture. Gunsite Buys 1280 Acres In NM Gunsite Butte Uranium Corp. has acquired full control of acres of drilled and proven gas lands in Rio Arriba 1280 county, N. M. J. J. Fyans, managing director of Gunsite, announced that the corporation, already owning 50 per cent interest in the lands, have purchased the remaining interest held by Caswell Silver and M. J. Florance, Albuquerque, and Sundance Oil Co., Salt Lake City. Two wells with daily potentials of 10,000,000 and 7,000y 000 cubic feet per day were drilled and completed late last year. Kenneth McGrlffin, consulting Geologist and engineer of Salt Lake City, represented Gunsite and the Albuquerque interests in the negotiations and sale of the property Royal originally capitalized with five million shares. There are now. 3,300,000 outstanding, Patterson said. Royal is currently listed in Salt Lake City at 47 Justh April 6,1956 Outlines 32,500 ;ome Drilling Deal Hoi' jum Co., Salt Lake City, this week contracted president for or cii. the Shinarump formation. R. D. Bailey has been contracted to do the drilling, the erties . He expects the drilling will be finished in approximately 30 days. Justheim bought the Nokai Dome properties for $30,000 in 1954 from Walker and Lyboger, contracting engineers with the $2 M. Bonus Paid To N. Mexico New Mexico received $2,114,-80- 5 states and Alaska. Only Wyoin royalties, bonuses and ming, with 4 million dollars, toprentals from mineral leases on ped New Mexicos receipts. federally-hel- d land during the The money represents income from mineral leasing of public last six months of 1955. domain lands and these privately New Mexicos check was the owned lands in which the minsecond largest from federally-owne- d erals are reserved to the federal mineral rights of all the government. Atomic Energy Commission. The land is completely paid for. President Justheim reporots. Justheim will pay the original owners 6 per cent royalties from produc- tion. Justheim also completed negotiations with two major oil companies for sale of properties, the president reports. Tungsten Reserves Are 200,000 Tons Union Oil Company of Califor- nia purchased 12,400 acres in oil and gas leases in Sublette County, Wyo. Moab will be MOAB, Utah host June 27-2- 8 to a party of 250 men coming here on a field trip sponsored by the Atomic IndusRe- Viola Mac Earns Record 55,Net ViolaMac Mines Limited, a Toronto, Canada firm made rec- Townships 35-3- 6 North for $43,000, he said. Justheim retains an overriding royalty of five per cent on these properties. The company also holds an additional 13,000 acres in adjoining property. The company also has a 10 per cent overriding royalty on 12,000 acres optioned to the Shell Oil Co. in 18 South 11 East, Red Plateau, Emery County, Utah, Justheim said. Atomic Group Will See Moab search Institute of Denver University. The field trip will be a part of a forum on Uranium and Atomic Industry, according to information received here. The Chamber of Commerce is assisting in making reservations and other arrangements for the party. The field trip party will arrive in Moab June 27 in chartered buses, and visit Utex Exploration Co.s famed Mi Vida mine in the Big Indian district. Returning to Moab, the group will inspect the $8,000,000 processing mill being constructed by Uranium Reduction Co. Later the visitors will drive to Dead Horse Point on the Colorado River, southwest of Moab, one of this areas noted scenic attractions, for a barbeque supper. h, The program will be tight, mg to C. I. Justheim, president, the company will no information released unwith Aragon drill holes along a three mile strip on the prop- til it is completed, Justheim said. Officers of the company include President Patterson Harvey Durbin, vice president, Winnemucca, Nev.; W. C. Patterson, treasurer and Mark D. Eggertsen, secretary, both of Salt Lake City. Company, offices are at 1417 Walker Bank Building. trial Forum and the Denver said. George Grande-boucconsulting geologist, will ilium drilling program on 325 company claims on the properties to suremain ome, San Juan county, Utah. Drilling operations pervise the operation. eek. cents asked, 52" cents bid. , itay fyHificaitce in The Oil and iKining World" : A drilling program will start within 30 days on 21,000 acres in Lincoln County, Wyo., which Justheim recently turned to Standard Oil and Gas Co. 'A shallow well in the Tertiary formation at Big Piney, Wyo. will soon be underway, Justheim Late Reports are now underway OPEN PIT OPERATIONS on the Blackhorse Tungsten mine near Tonapah, Nev. American Duchess will soon ship 3500 tons monthly from the mine to two mills. Tungsten reserves are estimated at 200,000 tons. American Duchess U&OBoys 42 Interest In Nevada Open Pit Mine American Duchess Uranium and Oil Corp, Salt Lake City, this week completed purchase of 42 per cent interest in the Blackhorse Tungsten Mine in Esmeralda county, Nev. The property has 200,000 tons of indicated tungsten reserves. Open pit mining operations are underway on the property. The company has a contract to ship 3,500 tons of tungsten monthly to Gabbs, Nev., a private mill, and to the Union Carbide and Carbon Corp. mill in Bishop, Calif. Ore will sell for $36 per ton. Shipments must begin March 15, according to a Special Mining Market report issued by Cayias Larson Glaser Emery, Inc., underwriters. Salt Lake City. The firm will ship 100 ton daily. The report states that sample ore from the property contains, in addition to tungsten, 3 per cent manganese, .3 per cent nickel and traces of uranium, strotium, rubidium, molybdenum, and ord earnings during 1955 listing a net profit in excess of $400,000 compared to $303,145 in 1954. Profits were taken from the lead, silver, zinc mine near New Denver, British Columbia Lake Cinch Mines Limited Lithium interests at Cat Lake, Manitoba and copper interest near Noranda, Quebec, according to V. R. MacMillan, president. copper. Special Wire to Mineral Survey Lakeside Monarch shipping for the month of March. Martin Mesa, Colo., 346.94 dry tons average grade, .60 uranium, 2.3 vanadium. Royalties to Lakeside Allen Number Two Utah, approximately 350 dry tons ap- $9,-521.7- 5. proximate average .40 uranium. Royalties to Lakeside approximately $2,850. Returns from the Monticello Mill run from 15 to 20 days from the end of the month. Therefore the Utah returns are esGrab samples of uranium ore from Ameri- timated. Total to Lakecan Duchess Blue Eagle Claims, Marysvale Min- side for the royalties March of month ing district, show as high as one per cent uranium $12,371.75, including Allen Numoxide, company officials announced today. ber 2 estimate. American Duchess has also completed negotiations on new property buys and has obtained all assets of Atomic Power Uranium Corp. Assets of Atomic Power include $125,000 in cash; $25,000 in receivables, two oil producing interests and 660 acres of uranium properties located in the Gateway Mining District, Mesa county, Colo., Eagle county, Colo., and the Circle Cliffs District, Garfield county, Utah. Negotiations were closed on Feb. 6, according to the mining report. Moving southward, American Duchess has also working interest completed purchase of one-hal- f in two producing oil wells in Lea county, N.M. The company expects a monthly income from the wells of about $2,000. . ROBERT N. MOHLER, Pres. Lakeside Monarch Mining Co. Stauffer to Pay SAN FRANCISCO The direc- tors of Stauffer Chemical Co. today declared a quarterly dividend of 40 cents per share payable on June 1 to stockholders of record May 18. This is the forty-firs- t consecu- tive year that Stauffer has paid cash dividends to its stockholders. |