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Show J KEEP POSTED OH URANIUM "'Jot WeioJ 9$ DioJt Vol. 27; No. 29 oV0, V Oil and tHining World Friday. Septembei 14. 1956 THE V Cataract Gains 2 Sundown Leases Gas Properties in Colorado 1,160-Acr- Sundown Mining Co. has acquired property adjoining the Amerada Highline Colo. Gas is being found at the 2, 500-fosandstone underlying this area. The properties, which were leased Salt Lake City, are located in section 6, and sections 1, 2, 10, 11, 12, township ot Mines Bureau, Union Carbide Make U-Fi- lm The story of uranium, heaviest of natures elements known to man, and the key to atomic energy, is told in bold, dramatic strokes in a new 16 mm. motion picture, The Petrified River, which has just been produced cooperatively by the Bureau of Mines and Union Carbide and Carbon Corp. The addition of this film, in sound and color, to the Bureaus library of motion picture films dealing with minerals, was announced by the Department of the Interior. Prints for free loans to industry, educational institutions, civic and business clubs and other organizations will become available at an early date. te Made with the technical assistance of the Atomic Energy Commission, the new motion picture depicts the geology, search for, exploration, and mining and milling of uranium ore in the Colo- rado Plateau area in the Southwestern United States, and pictures the use of uranium in nu clear reactors for producing atomic power and radioisotopes. e lease on 1,160 acres of Canal in Mesa County, level in the Dakota N .dion Acre Gas Concession International New York Company Acquires Extensive Panama Properties To Ship From Divide Mine U-O- re Shipping of high grade uranium ore from its Divide Mine in the Big Indian District, San Juan County, Utah, will begin early in September, International Oil and Metals. Corp. announced today. Louis H. Seagrave, chairman of Cataract Mining Corp. of New York announced today in Panama City the acquisition of oil and gas concessions in excess of two million acres, speeding up the exploitation of Panamas resources as a substitute for the threatened western supply of oil because of the Suez crisis. from George D. Fehr, the companys executive committownship tee, said an initial producing rate of 100 tons a day is planned, 200 which Drilling on these properties is tons a will be increased to day later. scheduled to begin in the immediDivide Mine, also known At the ate future according to company as Yellow the officials. jacket, an incline shaft has been driven 575 feet According to Ben Conford, Sun- to intersect a major ore body down vice president, The area discovered late in 1955. The ore las a great potential for gas and will be transported economically oil development. The Sundown to the surface on shuttle trucks. properties are in an area in Mr. Seagrave said the Divide which there are a number of pro- Mine is on Internationals nine ducing gas and oil companies. claims located adjacent to several Sundown also announced the well known producing uranium addition to the Diacquisition of leases oh 22 claims mines and, in n Wyoming where uranium ore vide, there are three other commercial ore locations on the nine is already being stockpiled. This is the first major development in Central America since Union Oil of Calinfmia brought in its first major well in adjoining Costa Rica this week and began its drilling in Panama. The larger part of Cataracts concession is located in the province of Chiriqui alongside the $200,080 Costa Rican border and is part of the newly discovered giant oil field where Union Oil of California brought in its discovery well. Cataract will start drilling next claims. International owns a number The company's Kaiparowitz of leased been properties on which uranium plateau property has to T. C.' Hamlin.- of Omaha,' Neb ore reserves hav been establishon a royalty basis, with operations ed by drilling. The Divide Mine scheduled to begin immediately. is the first to go into produc- Mesa County adjoins Grand County, Utah, an area which is becoming increasingly important in gas and oil development in the Mountain West. tion. Mr. Seagrave said the Divide ore body occurs in a western extension of the channel from which the important Continental Uranium Co. mine is producing, and is just east of the Little As soon as production is under- Beaver mine from which Home-staway on the Sundown properties, Co. is also shipping Mining the company will issue a formal ore. Steens Mi Vida mine is to report to stockholders, Conford the northeast on the same struc said. ture. Mr. Seagrave said that proisduction from these properties was Sundown had an original sue of one million shares of stock. reported to be averaging about We have no free stock, Conford $50 a ton and established reserves to be 250,000 tons. said. k Mountain Mesa Borrows From Splendor month. The Suez situation has stimulated greatly increased interest in Panamas oil possibilities and it is understood that at least fifteen major oil companies are presently seeking or have alread acquired concessions. . Cataract concessions were acquired by Compania Catarata de Petroieo Panama, S A., a wholly owned subsidiary of Cataract of New York. Cataract is negotiating farm-ou- t agreements with two majors, looking toward the development of these concessions without cost to Cataract and with substantial in terestss retained. The virtually income-tax free status of Panamanian corporations is well known. The geology of Panama is sim ilar to the large sedimentary basin productive in Mexico. The large amount of geological data compiled in the late Twenties or early Thirties by Sinclair interests, at a reported cost of $2,000,000, is being made available to Panama sources. Sccfrup-Sommervill- e In-iia- completed on August 6, 1956. Included in the agreements was an extension of the due date of the prior loans of $2,830,000 'to July 2, 1957. The prior loans were used in connection with their acquisition of their wholly owned subsidiary, Cal Uranium Co. Mr. English further stated that the drilling and exploration program on Mountain Mesas Gas Hills and Green Mountain properties which will ultimately require the expenditure of approximately $100,000 was under way in By the end of August approximately 4,000 feet of drilling had been completed. According to Ralph Thurston, Mountain Mesas consultant for mid-Augus- t. the drilling program, in the 25 holes drilled in the Gas Hills e minarea, 13 showed 7 showed mineralizaeralization, tion, and only 5 were unmineralized. The drilling completed to date covers in area approximately 5 claims of the 112 Mountain Mesa owns in the Gas Hills area. ore-grad- Radiore Launches Extensive Drilling Program On Dugout Ranch Claims The motion . picture has been selected by the United States Government for submission as an official film entry in the EdinAn intensive MOAB, Utah burgh and Venice film festivals held in Scotland and Italy this drilling program1 was launched summer. this week by Radiore Uranium Co. on its claims on the famed In filming the picture, camera Dugout Ranch property owned crews of MPO Productions, under Cattle contract to Union Carbide and by Co. in San Juan County. This Carbon Corporation which deprogram is on land adjacent to frayed all production costs, Dugout Ranch that Moki and roamed vast areas of the Colorado made their rich strikes two Plateau on foot, by jeep' and in Royal ago. the planes of airborne prospec- years R. Downing, President James tors. Photography was also car- of Radiore Uranium, said that ried on at Oak Ridge, Tenn., Pioneer Drilling Company, with where radioisotopes are pro- James Costanza at the helm, has duced, and in various laborator- moved in a brand new Mayhew ies, experiment stations and hos- Core Drill from Dallas, Texas, pitals (where research on the and that drilling commenced this peacetime uses of atomic energy week on twelve claims on the is being conducted. ranch. Five experimental holes drilled An original musical score enhigh hances the dramatic story, anc early in the summer showed three-foo- t a on mineralization animation in interesting explains said. simplified manner some of the vein on the claims, Downing drillWe are hopeful that this complexities of atomic energy. ing program will enable us to Pioneer Drilling Company rig at Prints of the film are available block out exactly the depth ahd for free distribution from the Bu- extent of this particular vein. work on Radiore Uranium Com reaus film library at 4800 Radiores geologists have been pany claims on Dugout Ranch, Creek in San Juan County. Forbes Street, Pittsburgh, Pa. very optimistic and believe that It was announced today by O. English, President of Mountain Mesa Uranium Corp. that the $200,000 loan from the Hidden Splendor Mining Co. was H. the drilling is on the same vein as that which runs through the Royal and Moki strikes, Mr. BigHornStockpiles Ore From Lost Boy Downing said. Radiore also has a working agreement on 23 other claims in the surrounding area claims leased from Industries and Mines, Big Horn Uranium Corp. is Inc., with Martin Lasher, New now stockpiling ore from their ' York City, president. Should lost boy claims. Some 250 tons this current drilling program have been mined over a two-wee-k live up to our expectations, Radi- period and will be shipped ore should have one of the richest against a contract for 300 tons holdings in the area, Mr. Down- during September. ing said. According to A. W. Egbert, Pioneer Drilling Co. is one of the areas largest drillers and has president, the company expects been busy all season working to continue mining and shipping with other uranium companies. ore on a regular basis. We have waited a long time to The Stanray Drilling Co., Grand get a first class driller, and we Junction, has notified Big Horn are glad that Pioneer has finally that they will begin a large-scal- e been able to move onto our and exploration program We are drilling lands, Downing said. on the Big Horn Indian Creek especially happy about the new Claims before October. Mayhew Core Drill. With it we can block out our entire propIn addition, the company antierties. We have every reason to cipates completing a contract for believe that we are on the verge full development of its Tiger and of an important discovery. Joe Dandy Claims. |