OCR Text |
Show April 13. 1956 The Western Mineral Surrey. Silt Lake City. Utah Page 5 "Bit of a Boom" Oil Brightens San Juan, N. M. Future NEW MEXICO BUREAU FAVORABLE NEWS from all mining fronts failed to evoke much response from traders. Mining stocks generally gave listless performances. Lack of buying orders forced a number of prices down to bargain levels . . . Canadian mining markets, however, were a beehive of strength and activity. Golds, coppers, base metal and oil shares surged to the front. A Toronto Stock Exchange seat changed hands at e $105,000 which is the current New York Exchange seat well-abov- bid. New Utah Firm Eyes Circle Cliff Drilling A A A 90,-86- A tt ing. NOW! will divide nearly $100,000 this year from their combined 20 per cent royalty interest in the Ransom uranium mine near Bland-inUtah. SUNSHINE and URA- g, NIUM DISCOVERY & DEVELOPMENT will each get $2500 monthly and SUNSHINE CONSOLIDATED, SILVER SYNDICATE and CLAYTON SILVER more than $800 each. Sun Con, is making the disclosure to stockholders at their annual meeting, said present estimates indicate a 50 per cent net profit will be realized on the Utah venture. r ore at the Output of Sun Con mine near Kellogg is about 2000 tons monthly. silver-coppe- SILVER SYNDICATE MINERAL TESTING KIT Portable Efficient Practical Profitable V ? MAKE TOUR OWN TESTS Easy Instructions Over 50 Elements Over 175 Minerals REAS0NARLT PRICED MINILAR - Rox 332 Munay. Utah share- of- have completed negotiations for the acquisition of an additional 50 per cent working interest in 41 unpatented mining claims located in the Tallahasse Creek Mining District, Fremont County, Colo. This gives Juniper a total of 97 per cent Working interest in these claims, known as the Hasty, Artie, Snooper and Thorne Groups, according to company officials. The total outstanding royalties on these 41 claims is 7 per cent. The claims are located about s of a mile northwest of the J. M. Huber Corp. and Fremont Uranium Co. Sunshine mine, which shipped considerable three-quarter- uranium ore during 1955. The Juniper Oil and Mining Co. (using its own equipment) has been drilling on these 41 claims and adjacent patented lands for the past six months. Closely spaced drilling is now underway to determine the probable tonnage in each of the three patches of ore quality material discovered on the Snooper and Thorne claims. Selected outcrop specimens from the snooper claims have run as high as 1.5 per cent U308, the ore occurring from the surface down to a maximum depth of 80 feet. If a commercial deposit is found, stripping may be feasible. Oil Producing Co. At least five new wildcat locations have been announced, four of them in the same area as the No. 1 the near Bisti Field in San Juan Marye, significant discovery County. The fifth, a rank wildcat, is Humbles No. Navajo, 13 miles east and two miles south of the firms No. Navajo, imin the Four portant discovery Corners area. Humble is still drill at the No. and was last reported working below 6850 New Mexico Bureau feet. Pubco Petroleum Corp. of AlA water well has been started at the new Humble location In buquerque, N.M., has let a conSection tract for the drilling of eight wells on its Bondad structure acreage Magnolia Petroleum has an- in La Plata County, Colo. nounced location for a wildcat to D. W. Reeves, Pubco president, be drilled in Section 4 southmiles said the first well is to be started approximately west of the dis- immediately and the rest in rotacovery and approximately the tion. same distance west of El Pasos The company recently comNo. 1 Kelly State, which opened two Pictured Cliffs gas pleted the Bisti Field. wells in the Aztec area of the The Magnolia, being drilled on San Juan Basin. One was finaled a lease block, will go to for a gauge of four million cubic 5300 feet in the Tocito. feet per day and the other was Oil Co. re- completed for six million cubic feet daily. ports it will drill a test well in Section approximately midway between Gallup sand production in the Bisti Field and the newly completed oil discov(Continued from page 1) ery by already has Favorable copper - zinc prices announced locations for two wild- have made possible the cats, the No. 2 Marye, one mile of the Antlers mine and mill near r south of the discovery, and the Kingman, Nev. after a shutdown. No. 3 Marye, in Section 13W. Samlcol Mineral Corp., Santa There is no question but Fe, N.M., is operating the 120 ton theyre experiencing a little bit of flotation mill on lease from a boom up there as a result of Yucca Mining and Milling Co. drilling, W. B. Macey, director Yucca, managed by Robert J. of the State Oil Conservation, Dalton, leases the Antlers propcommented about the San Juan erty from Antlers Oil, Mining and British-America- ns 1-- C i 1-- 1-- B Pubco To Drill Eight Colo. Wells B British-America- n 4900-acr- e Sunray-Midcontine- nt W Late Reports... British-America- British-America- n. n four-yea- N- Justheim 'Cuts' Climb Shinarump president of Justheim Petroleum Co. of Salt Lake City, announced today that Milling, Inc., 404 Beason Building, tractors of the R. D. Bailey con- County activity. The best geological informa- Salt Lake City. tracting company of Monticello, Utah, have gon over the top of tion indicates the field could be A 50 man crew will be emthe formidable 45 dogree incline quite large, Macey said. At the present time the market ployed by May 1, Dalton said. of the Shinraump formation on condition is bad in the San Juan Nokai Dome. forBasin, he said, and improvement Chinle of the At the base would mein, increasing refining conwill mation, the operation to a on road dirt capacity or con&iaupting a pipetinue westward out of the basin, vth deline and channel. the known Drilling of acres 6000 pendent on the development oi q development of the oil field. Outperforms Nokai on Justheim property the first thinks said he Macey ordinary u4(fers Dome, according to Justheim, will begin within three or four step should be increased refining costing up to C. I. Justheim, SENSATIONAL newl-yd.Terraloa- holders can look for an interesting year. The operating firm, Sunshine, is preparing to deepen two compartments of its main weeks. capacity. Jewell shaft from the present 3840 sump level to the 4000 level West Senring the Mining & Oil Industries of the Rocky Mountain to provide 150 feet of new stoping ground on Syndicates West Rambo ore body. The new long ore body on the 3700 level in the central Rambo area holds & Gen. Mgr. Kenneth Lott, Jr., Vice.-Pre- s. considerable promise of developing into an important ore asset, Phone EM 475 West 6th South the company management told stockholders. Texaco has brought Salt Lake City, Utah in a gas and distillate producer two miles from an 11,000-acr- e block in Albertas Raven area, in which Syndicate has an interest. NOTICE TO STOCKHOLDERS OF der good-size- d 90-fo- URANIUM $2000 more INDUSTRIAL STEEL CO., INC. ot 4-56- DAYBREAK MINILAB Juniper Oil and Mining Co. Drilling activity in the San Juan Basin in northern New Mexico continues to show a marked increase as a result of important n oil discoveries by Humble Oil & Refining Co. and British-Amer-ica- In Colo. Claims ficials URANIUM shares sagged despite bullish articles in the Wall Street Journal and U. S. News & The Journal reported Reports. a new navy objective atomic propulsion of all major combat ships some time in the 1960s. It said prospects are warming up for nuclear-powere- d merchant ships and that the J-contemnavy is racing Uranium, Inc. is to develop the air force against plating a diamond drilling pro- the first atomic airplane . . . U.S. gram on properties in Muley News how told big business is Twist Canyon in the Circle Cliffs over the uranium industry area, Garfield county, to deter- taking mine ore potential. No explora- and listed the Spokane Indian Reservation as one of the areas tion has started to date. outside the Colorado Plateau with According to a geological report by Jim C. Standard, Salt major production possibilities. BUNKER IIILLS annual reLake City, the company property is contiguous to the east end of port told of record production of the Rocky Mountain Uranium ore, lead, zinc, and sulfuric acid; also record sales by the subsidCos Rainy Day mine. There is a possibility. Standard iary Northwest Lead Company. working capital climbed reports, that the Rainy Day chan- Net more than $5,000,000 during 1955 nel extends through J-propto a new high of $15,601,881. Mine erties. The direction of the chanrose 528,834 tons from nel, he notes, has not yet been de- output The toore 411,900. yielded 33,939 termined. tons of lead, 9797 tons of zinc and J-President and director of is Leo D. Jackson, Loa, Utah. He 2,197,018 ounces of silver. Lead 1 was up to and Dale Albrecht, Loa, vice pres- smelter production zinc to tons, output plant up ident and director, are original acid plant locaters of the company proper- 56,625 tons; sulfuric tons. to 48,362 production up ties consisting of 72 unpatented Stockholders shortened the firm mining claims. name to Bunker Hill Jackson also owns an undivided and directors declared Company a second one third interest in and to 22 dividend of 30c a share. quarter claims adjoining the company FIVE IDAHO MINING FIRMS property, now under lease to Rocky Mountain Uranium Co., on which the Rainy Day mine is located. Jackson and Albrecht were partners on the location, discovery and development of the Rainy Day Mine. Since. March, 1954 the mine has produced an estimated $200,000 worth of ore. Settlement sheets show the initial 470 tons of ore shipped ran .31 per cent U308, valued at $12,457. J-Uranium is now in the public offering stage with 9,500,000 shares of capital stock aft one cent par value, 3 cents offering price per share. Approximately one million shares will be sold in Utah, according to the companys underwriter. Officers of the company include Jackson and Albrecht and Charles H. Ackerson, treasurer and director; Chester W. Howerton, secretary and director and Raymond J. Garcia, director, all of Salt Lake City. Doyle Jackson Loa, and Rulen Morrell, Fremont, Utah, are also directors. Underwriting the firm in Utah Investis the Ackerson-Hackement Co. Continental Bank Build- Juniper Acquires 97 Interest has found ore in six of seven holes on its Lowley lease in the Spokane Indian Reservation. The holes were spread out along 750 feet of a contact zone. A series of ore zones were found at depths of from 10 to 185 feet. Uraninite-bearinore is being stockpiled from open-pi- t mining operations. Bulldozer trenching of the adjoining Bair lease has a promising vein of radioactive material three feet beneath the surface. FEDERAL , URANIUM CORP. RDEIU HAS rOEMID I HEW SVEStSUHT . . FEDERAL URANIUM CORP. Silt lob Citf, Uth g torque-convert- er drive standard power-shiftin- g lic transmission (No clutch) 4 speeds forward 'to 6.98 MPH; 4 reverse speeds to 7.68 Half oi the shares oi the new company will be retained by Federal. Half will be distributed to Federal stockholders on a share ior every share oi Federal. Distribution ratio oi one-ba- li will be made April 25 to stockholders of record April 20. Transfer agent for both companies is Walker Bank and Trust Company, Salt Lake City, Utah. (Stockholders are advised to have stock registered in their name.) Gasoline or Diesel 62 HP Power-boostin- RESOURCES, INC. 248 South Moil Street HERE'S WHY .... RADOROCK g VULCAN SILVER - LEAD is taking over VULCAN EXTEN1 share for 20 . . . SUNSION SHINE moved its general office from the mine near Kellogg, Idaho, to Spokane, because of its expanding operations. 33 MPH Full power-steerin- with g hydraulic controls Weighs only 11,050 lbs. Optional scarifier, winch and easy-touc- 8-t- h tilt-trail- er Call us for details MACHINERY CENTER, INC. 1201 South 6th West Phone IIU 01 |