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Show I s' -s ; f1'. V.. ' o T ALT '' r. TALLKT LAKE kices SILYKB cvitir c N R LB AD. n GOLD ZIMO (par corn Features Mining, Oil, Financial Mi MV 1M bIh4 Mtfca U.M MAN n .......... SOUS ............ (ci IS) Salt Lake City, Utah, August 8, 1947 VOL. 18, NO. 29. MIUU tlMD One Year $2.50 , Salt Lake Stock Exchange July Transactions xNevada Metals lahniiliii untilul Tka at reliable, la thli sheet fasraateei, la Serlved frem searees bat believed te N eerreet Outstanding retarded aa Big Hill Mine Record At New Park Naildriver xNorth Lily No. Standard xBullion Central Standard Park Konold Park Nelson Park Premier xChief - Con. xColorado Con. Pioche Bristol Plumbic Mines xPlutus xPrince Con. . . xComet Coalition ...... x Commonwealth Lead Crescent Eagle Oil . . . Royston Coalition .... xSilver King Coalition Silver King West .... xSilver Shield xSilver Standard Sioux Mines . . . So. Iron Blossom So. Standard ... Swansea Con. .. Tar Baby ...... Tintic Central . . xTintic Lead xTintic Standard Union Chief Utah Con Crown Point xDragon .. E. Crown Point xEast Standard . E. Tintic Coalition xEast Utah xEureka Lily Con. Eureka Mines .... Great Western xHom Silver xUtah-Wy- o. Victor Con. West Toledo Kennebec Kentucky-Uta- h Keystone xLakeside Mon. xLeonora k t I I MI xLittle May Magnolia Lead xMammoth Miller Hill .XMiners Gold xMoscow . .06 .04 113626 25315 .07 .04 cross-c- 1.80 .... ., Con. Wagon & Mach. xNational Tunnel xUtah Fire Clay . etlslMltmiMd , Copper xMountain View xMt.-Cit- v Con. Oil .08 .08 xWestern Alloys x Wilbert xYankee Con. . Zuma xUtah Idaho Sugar Com xUtah Idaho Sugar Pfd. Unlisted Stocks . . . . oaO xZ. C. M. I trasMdtSitii. Total shares traded: 1,065,' 415. xlndlcstes operating companies. - iSDioooeoi . Market value $146,557. Weber May be Oil Companies Early Day Ore Finds Pushing Utah Start of Wide Activity Productive Near Vernal Exploration Oil activity Following abandonment by the Alta of of the Park throughout state of Utah continued to move at. a lively rate during the past week with reports indicating substantial progress being made at various projects throughout the region. .. Long regarded as an area given mainly to mineral disposition and one not too promising insofar as important. oU production was concerned, the state is now being considered as a priqie source of oil. Mpch Leasing : Major oil companies as well as independents are pushing drilling operations on a number of different structures and acreage leasing activities have reached an unprecedented level. Several tests are reaching critical depths. The test being drilled by Pacific Western Oil Company near Gordon Creek, Carbon County is now down 11,420 feet according to latest reports. This is the deepest test ever drilled in the state. A new rig is now being moved onto the property that is capable of drilling to a depth of 15,000 feet. However it is anticipated that the hole will be taken through the Cocconino sands after which all formations that have been cut in the well will be tested. Vernal Area Vernal Oil and Gas Company Uintah County has now set 88 feet of 15 inch conductor pipe and the hole is bottomed at 215 feet in a hard formation that is believed to be the Shinerump Conglomerate. This depth is correlating with geologic section published recently in Western Mineral Survey. The Weber formation is some 1100 feet below the Shinerump. The wildcat near Monticello, San Juan County is reported to be down 1630 feet with twist off and now conducting fishing operations. Several other firms are pushing activities at various-projects throughout the state f Jj (Editors Note: This la the eighth of a aerlea of eight article a the metal mining lnduatrjr In Utah. Operations of New Park Mining Company, Park City Mining District, Utah, resulted in profit, before federal tax, for the first six months of 1947 of This amount includ $372,757. ed some $90,000 received from the government on back premium claims. It is anticipated that the company might reason? ably exceed a half million profit for the entire year. Push Development In addition to its substantial production operations. New Parle is also projecting several comprehensive developments head-ng- s. One of these, financed with government exploration funds, consists of running a on the history of some 1000 feet ut in length on the Star of Utah level to intersect an east-we- st fissure in the Wasatch lime, in .leased ground west of the Park Galena ore zone. Only about 200 feet of this drive remains to be completed. To Extend Shaft Another cross-c- ut further to the east is also being driven to cut the same fissure on the same level. If this work develops a substantial orebody it is anticipated that the Mayflower tunnel will be extended to the westward to undercut this zone at an additional depth of 800 feet. An extension of the Mayflower is under way at the present time. This westward arch is being thoroughly explored both by drilling and drifting. Values Increase The main shaft is being, sunk an additional 300 feet which will bring it to the 1810 level. As the shaft 'has been lowered to new levels both the Pearl and fisthe Park sures are said to have shown increased volume and better valGalena-Mayflow- er ues. Since beginning of production in 1940 until the end of 1946, the company has produced ores valued at nearly seven and three-quart- er million dollars. Dividends have exceeded a million dollars. The company controls some 12,000 acres of mineral ground in the Park City area and in addition has interests in several oil projects. Stock of the company was recently listed on the San Francisco mining exchange. W. H. H. Cranmer is president and general manager of the districts Biiigham, and After the discovery Continental Oil Company of its City, prospecting spread south along the Oquirrh range and the 7486 foot well northwest of the camps of Dry Canyon,, Ophir, Camp Floyd Mercur and further proven productive area of the to the south the districts of Eureka, Frisco and Silver Reef. Rangely Field in Colorado has caused some comment to the The Tintic district has long effect that productive possibilibeen one of the most productive ties from the Weber formation in Utah.. Owing to poor transare not very promising in the portation facilities, development northeastern Utah or Vernal of the district was not rapid until areas. came when railroad the 1878, Continentals well, drilled a within 5 miles' of the district. considerable distance northPrior to that time, however, conwesterly of the heretofore provsiderable rich ore was gleaned en area and its abandonment from near the surface which was may be taken as an indication to. San Francisco, Calif., shipped A bid of $6,875, to be paid in that productiveness of the Weto Reno, Nevada, Baltimore, Md., formation in the Rangely and even to Swansea, Wales. cash, for the ore crushing plant ber Structure does not extend .so Cresson Active Activity in Beaver County operated in wartime by Kalunite, far to the northwest. CRIPPLE CREEK, Colo. reached boom proportions with Inc., at Marysvale, Utah was subOne is as year after the big cavein However, generally at the discovery of the Horn Silver mitted to War Assets AdminisCresson mine, things are the structknown, every producing mine in 1875 and continued units ured humming along again with the in area has limits for Room tration E. P. Emery, by til 1885. During its heyday,- the of the new maconstruction oil in structure, and, Horn Silver was one of the most 22, Salt Lake Stock Exchange, producing chine well under way and similar to Rangely, the first shop productive mines of the west and on behalf of a client identified wells are drilled on or near the the new storage house practithe mine and its smelter support- as S. Leonard. Bids were opened crest of the anticline or dome. cally completed. The cavein has ed a community of approximateoperat Salt Lake WAA headquarters, Wells are then fielded out down been filled in and inmining ly 2500 persons. full ations are on of structure again the the flanks swing. One sensation in Utahs min- 1710 South Redwood Road, Wed- until edge water is reached. These edge water wells naturing history that failed to grow nesday afternoon. into maturity was the old Silver A bid of $7,000 ' was submit- ally define the limits of the oil Reef, located about 20 miles ted by Tom Beard of Los Ange- producing area of that particnorth of St. George. According ular structure. to legend one 'prospector dis- les, Calif., with a proposal that This the case, the Concovered silver float which assay- the amount be paid off over a tinentalbeing test well on the northed $17,000 to the ton: He is rewest plunging out Of the Rangeperiod. ported to have filled up his shaft Other bids received, and their ly, does not prove or disprove and left the country, returning any other- structure in Utah, with others to organize, the dis- amounts, were as follows: Colorado, New Mexico, Okla'A bid of $6250 by Patrick T. homa, trict in 1874. , Texas or for that matHe worked his claims for a few Henry of Marysvale; $4528.50 by ter South America. Bids Opened For Purchase Of War Plant 10-ye- ar - Wi . months but failing to find the lead to his .rich assay became discouraged and moved on to other mining districts. In 1875 others took up the search and their efforts met with considerable success, shipping their ores to Salt Lake Valley smelters. During this period 640 claims were filed around the Silver Reef and a typical mining community grew up. Like many of the high grade camps, Silver Reef soon languished, but there are those who clin'g to the ever present hope in mining it will comeback. the Morse Brothers, Machinery Company of Denver, Colo.; $2155 by the Marysvale Bottling Company; $1400, for a part of. the property only, by Lane Bertelsen of Marysvale; $800 for the power only, by the Reconstruction Finance Company in Salt Lake. bid indiThe Emery-Leona- rd cated that the property, if their bid was accepted, would be used for ore crushing operations. All bids will be forwarded to Washington, D. C., for consideration by the Real Property Re. view Board of WAA. sub-stati- on That the Weber or Pennsylvania formation has been productive in other structures is of course a proven fact. That this formation, so - prolific in the Rangely Field, may be produc tive in other favorable structures to .the npr.towest p Rangely is a belief unsubstantiated bui certainly entertained by, many-Conti prominent geologists. nehtars f&ilute ih'the flank of the Rangely Field is no indi cation of what is contained in structures lying to the- northwest or in the Vernal, Utah, area. Tha aid -- -- -- apla peratata TWH t,B!f ,Vrh faith") 3f3.a IIM 14 Ak." w n.ti. I SSf--3 ' i.- - Utah Metal Mining Industry oi Utah |