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Show rtp y 1 ( 4 T METAL PRICES 4 'I 10c Lead (per lb.) Gold (per oz.)..$34.9125 24 2c Copper 19.5c Zinc (per lb.) Silver (per oz.) 90.16c new mined J i 4 ii of u library 3XTY 1 I r Features Alining, Oil, Financial 4 m 2i vof -- Oilmen Bring In "Wildcat" Well Continuing Upward Trend Although its operations were handicapped by a shortage of skilled labor during much of 1951, Pend Dreille Mines & Metals Company made substantial progress in production expansion at its Metaline, Ida., district property last year, the companys annual report shows. Milne output in 1951 totaled .273,520 tons of ore which the mill converted to 15,165 tons of concentrates. This was i greater than the tons of ore and of concentrates 1950. con-sidtrab- ly 186,-19- 7 11,687 tons produced in Metal yield last year was pounds of lead and pounds of zinc as compared with 6,286,421 pounds of lead and 9,117,962 pounds of zinc in the previous year. Income from sale of concentrates mounted more than C9 per cent, from $1,215,719 in 1950 to $2,079,363 last year and net income, after all deductions, into creased more than three-fol1950. was in It $41,949 $144,876. Rate of production has continued to mount steadily this year, the report reveals. During the first quarter, 101,900 tons of ore were mined and earnings were approximately $430,000 before depreciation, depletion and income taxes, about 60 per cent greater than the $267,198 reported for the corresponding period of 1951. Com- -' parable operating profit for all of last yea was $758,680. The increase in output was accompanied by a reduction in costs to $5.10 a ton in 1951 from $6.07 in the previous year. Operating costs last year were $4.56 a ton, including $3.09 for mining costs and 91 cents for milling. A further reduction in costs is expected to result from the recent decision to install trackless mining equipment in parts of the mine, the report signed by Stanly A. Easton, chairman of the board, and Lewis P. Larsen, president states. Wallace Miner. 14 12,-950,5- V, d J J -- Jl't I f Sunshine Mining Production Drops J Sunshine Mining Companys production last month, including tonnage rfom neighboring properties which Sunshine op- erates i under profit - sharing declined to 18,685 agreements, tons of ore as against an average of approximately 20,500 tons per. month during the first three months of this year, it was learned this week. The decrease was anticipated, as miners have already began to leave their underground job3 to seek outside employment for the summer months. A the company's annual meeting in Yakima last week all officers and directors werefor another term. They are R. M. Hardy, Yakima, dent; J. B. Cox, Spokane, vice president; Frank M. Hardy, Yakima, vice president and treasurer; C. M. Hull, Yakima, secretary, and Joshua Green, Seattle, director. R. D. Leisk was reelected general manager. , i ( i i ! i i . One Year $2.50 Sat Lake City, May 23, 1952 Pend Oreille i . - re-elect- ed Discoveries of Strategic & B Mineral Deposits Certified of minerals Five more discoveries or strategic developments needed in the national defense prognyp. hiye been certified, it was announced today by Secretary of tiWlnterior Oscar Ia Chap-L man. A V, TTr ' The new discoveries or developments, made under the program of the Defense Minerals Exploration Administration DMEA, an Interior Department agency), were of mouazlte containing uranium andji thorium n Idaho, sulhpr irfiwybming, ;ungsten in Montana, strategic mica in North Carolina, and Idaho Birthday Mines Comberyl and strategic mica in South Dakota. pany has advanced its new These new certifications bring lower development tunnel a disto eight the number of finds tance of 1700 feet during the resulting from the DMEA pro- past nine months, it was angram to aid and promote the nounced in Salt Lake this week discovery or development in the by Charles S. Woodward, presiThe laboratory man saea a amall pick to break apart a core lample that United States and territories of dent of the company. msy give acientiatc a clue to oil. The core ia a cylindrical apecimen of rock additional Objective of the new wiork is deposits of minerals cui cut by a special tool, far below the surface. critically needed for national the undercutting of the No. 4 defense. C. O. Mittendorf, Act- vein, which produced ' considering Administrator of the De- able ore from surface opeations. fense Minerals Exploration Ad- The development tunnel, which ministration, explained that un- is expected to reach the vein der this program funds are pro- with 400 feet more of driving, vided on a modified matching will develop some 800 feet of basis to mining companies or backs on the structure. A new contract has just been individuals who meet certain consummated by the company requirements. The discovery of new depos- for 500 feet of work with Glen its of monazite, a rare earth E. Rusby & Son of Mammoth, ore which contains a number of Utah. This contract work is exstrategic minerals, including pected to, result in the extenuranium, was on the holdings sion of the tunnel Into the vein of the Ruby Meadows Mining and also provide for some prosCompany, Idaho County, Ida. A pecting In the vein area. Prior to start of the new designificant quantity of the critiIxi minerals the depos velopment program a total of are cal its uncovered by the govern- 76 shipments of concentrates ment's program, which included and crude ore had been made a contribution of $12,647, or 90 from the shallow workings over-lyinthe objective area of the per cent, to the $14,052 cost of lower tunnel. Values were maintoe project disin certified the In Wyoming, ly gold and silver, with some This Shell Oil Company rig drilled the Ant aueceasful well in the Montana on was of prop- lead and zinc content. From covery sulphur part of the Williston Basin the Northern Pacific No. 1 well, near Richey. Consolidated the of Sulphur among the shipments of crude erty A stack of drill pipe stands beside the derrick, and nearby are the field and Phosphate Corporation in ore, assays as high as 2.61 tanka, draw works, and automobiles of the crew. Park County. The exploration ounces of gold to the ton were outlined additional deposits of obtained. Idaho Birthday Mines Comneeded sulphur. In this project contributed the government pany controls 54 mining rfatwa cent of 50 in the the district, designated as or $39,705, per cost. the total $79,410 Birthday, Branson and PayThe tungsten discovery certi- ette groups, and also a HomeNOTE: Recent oil discoveries in Montana ana North Dakota have aroused vDd fied was on property of Ameri- stead adjoining the mining Interest In this entire area as a potential source of crude oil. Since oil Is a newIn addition, the comcomer to the family of natural resources here, we have planned a series of articles. can Alloys Metal, Inc., in Beav- claims. In ccllabort ion with the Exploration and Production Department of Shell Oil Com- erhead PresMontana. holds a pany 200,000 stock inCounty, pany, telling how an oil field grows. This article Is the fourth in a series of seven. terest in considerable the ence a of Index quantity Mining ComWhen the first oil spurted out of a pipe at the control head as ore calculated with is of pany, tungsten properties at Spruce of a wildcat well in Montana last year, Wall Street investors result of an exploration Mountain, Nevada. This interthe pricked in their ears and oil companies landmen scurried to the project, the total cost of which est was obtained through sale scene of the discovery. Yet veteran oil men were not really sur- amounted to $33,290, toward by Idaho Birthday to Index of which the government contrib- property in the Spruce Mounprised. They had been expecting it for more than 10 years. uted $24,967.50, or 75 per cent. tain district. Even In the 30s, geologists was railroad even the farther. The Idaho holdings of the In North Carolina, the stratewere talking about the Willis- There was no communication develwas mica company are located in the discovery gic a vast geological with town except by radio. ton Basin D. of Banner Mining district, near Fred on the holdings structure underlying much of But this is where the experts oped Cabe near Franklin. In consists Lowman, Boise County, Idaho. the Dakotas, eastern Montana had decided to drill. First, how- of a significant quantity of ruby and part of Saskatchewan. The ever, a road had to be built to mica. During the exploration Basin contained the type of ma- the site. Then over the road itself, toward which the governrine sediments that pointed to rumbled huge trucks carrying ment contributed $4396.50, or 90 Federal Joining & Smelting the possibility of oil. But no- tons of steel beams, thousands per cent of the $4885 cost, 4000 Companys operations during the body had been able to find any. of feety of pipe and well casing, pounds of mica were recovered. first quarter of this year yielddiesel The South Dakota beryl and ed a net income of $561,795, or engines, Surface parties had mapped heavy-dutmaterials for buildings, strategic mica find was on $2.28 a share, after depreciation outcroppings, analyzed rocks tanks, fuel for exengines, ingredients for property of Lewis W. Colling-woo- and income taxes, but before deand made seismic studies near Custer. The total duction for depletion. This is ploding dynamite and recording specially prepared drilling mud, all other and of the material this exploration was set 33 per cent below the correthat cost waves in order reflected shock into a with the government sponding period of 1951, when at goes $10,000, up rig. to get a picture of subsurface setting How do they drill a well? contributing 90 per cent. In ad- earnings totaled $840,635, or formations. Several companies sucno drilled wells, but with They bore into the earth much dition to a substantial amount of $3.41 a share. cess. Then last year, after a de- as a carpenter bores into wood, beryl, the project also revealed Quarterly production totaled 13,977 tons of concentrates this tailed restudy of the Basin, only with mammoth equipment a large quantity of noncritical Shell Oil Company decided to instead of a brace and bit. feldspar which is used in ceraifi-ics- , year as compared with 18,057 etc. Repayments to the tons during the first three drill a wildcat well about 14 First, there is the derrick a 15 Mont steel often miles northwest of Richey, stories government from this produc- months of last year. tower, This drilled a is to needed well in handle tion already have started. A wildcat is Part of the loss in production high. comes drill the stem, consisting o In all cases of certified dis- Is attributable to the wildcat unproved territory. If it sections of pipe screwec coveries repayment of the strike which closed the comin and marks the finding of a new oil field, it is known as a together. Naturally, the stem is amount of the governments con- panys Page mine for two weeks lengthened, section by section tribution is made on a royalty in late March and early April. discovery well. The site near Richey was as the well is made deeper. In basis. The period during which The property, which is the comhardly ideal from the stand- a 10,000 - foot well the stem royalties are paid may extend panys biggest producer, was point of convenience. It was far weighs many hundreds of tons. to 10 years, but payment is not down for the last 12 days of At the end of the stem is the made in excess of the govern- March and the first three days out on open range. The nearest Continned on Page road lay many miles away, and in April. ments contribution. Birthday-- . Gold Pushes Idaho Development g First Producing Wells Challenged Drillers Skill Federal Mining d, 30-fo-ot i |