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Show tyeJt Significance in "Oct Him Vol. 28; Ko. 7he Oil and Mining Salt Lake City. Utah. Friday, Match 1. 1957 1 CD Old Boston Mine LLJ LLJ ToBeRe-Opene- d 22 By Joint Finns MeNwa CD LLJ World John W. Wilhelm president and general manager of Deer Trail Mines disclosed today ore shipments are being made while exploration continues by lessee aft the Deer Trail Mines six miles west of Marysvale, Utah. A.I.D. tunnel, Ores continue to be encountered, said Mr. Wilhelmn, at the 100 level in the lower A.I.D. tunnel, during exploration." Mr. Wilhelm further stated that shipments of ore from this 100 level brought D.T. royalties of 20 per cent or $399.21 for 49 tons shipped to International as per returns of Jan. 25, 1957 on settlement basis of 1.95 per cent lead, .46 gold, and 45.55 ounces of silver, also carrying .55 per cent copper for which there is no pay, being under .75 per cent. Gross assay settlement being $58.96 per ton. A previous car of 44 tons from another vein in 'the 100 level settlement of Jan. 11, 1957 was of lower value or .5 per cent lead, id .29 geld, 2tfZtrOLffiC6iiTjJLiivt:i' with or $33.25 gross royalty in bracket. cent the- - 7 per Central Oil 10 Cents N.M. Firm Holds Claims Totaling 8 of U-O- re Salt & Mining Corp. $100,000 yearly has been spent Lake ALBUQUERQUE, N. M. Eight for payment of an equitable has entered into a joint City, rate continand the of spending venture with Bonneville Basin per cent of the total known share of minerals removed. In ues and out of this fund the Uranium to the old United States reserve of U3 08 Corp. reopen Lucky Boy also continues. Boston Mine, located in Elko This ore comes from a lower County, Nev. It is by level than ever before mined or Centrals president, L.reported C. Barkley, Prospected in Marysvale Deer Jr. that complete equipTrail area than ever before in its ment is now on themining property and history. mining operations will begin withMr. Wilhelm concluded that in a short time. Time and money will determine The Boston Mine has a history the old Deer Trail, now a consolidated company. The shares dating back to 1880, when its shipcan now be traded over the coun- ments of (copper, gold, and silver ter in Salt Lake. However we ore were hauled by ox team and have made no effort to arrange a wagon to Ogden, Utah, from market or broker arrangement where the ore was then shipped nor have we as yet announced to to to Bosand Swansea, Wales, our own stockholders of which there are about 800 throughout ton; this is how the mine received the United States. its name. uranium ore is on property on which Ranchers Exploration & Development Corp. of Albuquerque owns gross royalty interests. This was announced this week by Karl Kothman, Ranchers president, in a news letter to the firms stockholders. The U. S. Atomic Energy Commission recently estimated the proven U. S. uranium reserve at 60,000,000 tons. Of this 18,900,000 tons is said to be in the rich Ambrosia Lake area near Grants, N.M. Mr. Kothmans announce- ment to his shareholders reveals that Ranchers owns royalty interest on 5,318,466 tons or eight per cent of the total known U. S. reserve. Uranium Institute Slates Air Tour Of Laboratorvs i A flying tour of eastern United the tour without accompanying States and Canada for the purpose of viewing the current status of development of the atomic energy industry is being scheduled by the Unanium Institute of to blend for a better smelter rate America. The tour by a chartered and is being considered to enable United Air Lines Convair is scheda greater shipping amount of ore, uled for April 7 to 12 according while carrying on the prospect- to an announcement by Gordon two Weller, executive vice president ing stage, requiring perhaps 100 level and of the industry organization. more years at the Leaving from the Denvers Stapleton Sun. evening, April 7 for Chicapo. Each day of the week would be devoted to a variety of tours, luncheon and supper meetings, highlighted by the following events: Monday, tour of Argonne National Laboratory including research and power reactors and gamma radiation facilities. Tuesday, tour of the representative and milling operations. mining The Davis Oil Co.s No. 1 NaWednesday, tour of the A.E.C. vajo A, a farmout well from Feed Materials Production Center Continental Oil Co., produced 42 operated by the National Lead barrels of good grade crude oil Co. of Ohio, near Cincinnati. and Thursper hour on a drill stem test Tues- Wednesday evening table and round re- day, banquet day, according to a bulletin the members of sessions with leased by the company. on Committee A.E.C. and Joint This well was drilling below Atomic Energy at the Mayflower Hotel, Washington, D.C. Friday, 5,344 feet last weekend and at Tour of Oak Ridge National Labothat time the company reported ratory including graphite react, an oil show. ors, swimming pool reactors, production, and the The well was supuded in on Par- high voltage facility. t Christmas day for a The Uranium Institute will adox test. The well is in the South accept reservations for the 5 Aneth area of San Juan county, day tour on the basis of the folUtah. lowing priorities: 1. First consideration will be given to the members of the Uranium Institute of America. 2. Second consideration will be Declares Dividend A third car is ready to go and will be loaded for shipment. A low grade highly silicous ore showing is also being considered Well Navajo Produces 42 Bbls. Per Hour eA radio-isotop- e 6,500-foo- applications the Institute. for membership in Reservations be made through the Uranium Institute of America, P.O. Box 177, Grand Junction, Colorado. All reservations must, be accompanied by a check in the amount of $450 the package cost of the tour exclusive of breakfasts. Reservations are binding, and cannot be cancelled, except in the establishment of a waiting list which may vacated reservations. Atom Research Center Planned For N.Y. Area Plans for the construction of a nuclear research center in Sterling Forest, New York, were announced today by Morse G. Dial, president of Union Carbide and Carbon Corp. The Sterling Forest region is located in the southern part of Orange County, N. Y., approximately 40 miles from New York City. The major facilities on the site will include: a five megawatt pool-typ- e reactor, a radioactive materials laboratory, an ores and engineering laboratory, and a building for allied research operations and administrative functions. Union Carbide Nuclear Co. mines and processes uranium and other metals at installations in NEW YORK Colorado,- - Utah and California. Its of theU.LA. to given operations extend to the gaseous The MENLO PARK, Calif. who submit application for mem- diffusion plants at Oak Ridge, Board of Directors of Consoli- bership with their request for Tennessee, and Paducah, Ky., and dated Freightways, Inc., today de- reservation on the flying tour. to Oak Ridge National Laboraclared the regular 20 cent quarter3. Third consideration will be tory oil of which Union Carbide 15 to of the U. manages for the U. S. Atomic EnMarch given to ly dividend, payable I.A. resuesting reservations for ergy Commission. stockholders of record March 1. non-membe- rs non-membe- rs Founder in 1954 by a group of New Mexico ranchers and the companys mission is to lease its land holdings to dom- land-owner- s, inant operating firms in return Dr. H. Eyring Tells Of Future Fuels If you are worrying about what the world will do for fuel in the year 2957 you can stop right now. Science will undoubtedly have the answer, even though all presently foreseeable supplies of coal, gas, oil and high grade uranium are by then used up. Dr. Henry Eyring, dean of the Graduate School and professor of chemistry, University of Utah, said Tuesday it is a matter of solving the problems of technol- all, Ranchers owns gross royalty interests on approximately 100,320 acres of land in McKinley, Catron, Valencia, Socorro and Torrance counties of New Mexico. About 15,000 acres of this propa erty lies in the heart of the Lake area in McKinley County. (Locations are in parts of Ranges 9, 10 and 11 West of Township 14 North, and in Range 11 West of Township 15 North). The news letter said the property in Socorro County had been acquired principally for its potential as a manganese producer, indicating that the firms exploration and development activities are not limited to uranium. To mine and mill its uranium holdings in McKinley County, Ranchers has entered into longterm agreements with the Philips Petroleum Co. and Kermac Nue clear Corp., a subsidiary of Oil Industries of Oklahoma City. Am-jrosi- Kerr-McGe- In the past year both Phillips and Kermac have done considerable exploration on Ranchers lands in McKinley County to determine the extent of recently discovered ore bodies. Both firms are presently engaged in digging shafts for their first mining operations in the Ambrosia Lake area. The stockholders message also said, As these two firms take over operations, Ranchers is being relieved of important expense items for field overhead and this will be a substantial saving in your companys operating ex- pense. It added that Kermac and Phillips are negotiating with the US. Atomic Energy Commission for the erection of processing mills in Grants area and that Ranchthe ogy. r ers economic plan is Dr. Eyring was one of the based on these milling operations speakers at a seminar in the Un- being under way no later than ion Building on the subject, Will 1958. New Energy Sources Revolution- July 1, ize Living? Mr. Kothman said minimum He said possible new sources of known ore bodies Indicate that a minimum of $170,000,000 (gross energy at that distant date are in uranium ore will be fissionable materials now unob- value) on mined Ranchers properties in tainable, a catalyst that will un- the Ambrosia Lake area between matlock the energy contained in 1, 1958 and December 1966, July ter, and greater utilization of the which will mark the end of the heat. ten-yea- suns presently authorized estimate of values on other Ranchers properties in the Ambrosia Lake area where drilling has been extensive, but potentials not conclusive. Kothman said all financial plans formulated to date for his firm are limited to Ambrosia Lake properties. He added that only a few Ranchers properties in Catron County, and none in Valencia, Soccorro or Torrence counties to are under lease or farm-ou- t others. There have been no discoveries of commercial ore bodies on any of the acreage in these four counties to date, his news- Dr. Eyring told the group it is estimated the United States has enough fossil fuels (coal, oil, gas) to last 1,000 years, and enough oil and high grade uranium for 100 years. Dr. Sterling M. McMurrin, dean of the University College, said the development of atomic energy has brought the world no nearer to war than it would be without it, and that we may actually be farther away. On the other hand, it may resul in an increase in the worlds food supply and better health for the letter said. people through medical applicaThe General Offices of the firm tion, he said. in the Sunshine Building in are Albuquerque. |