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Show BE? POSTED RV ON TV 0 umim l!VU "Jet in "The KieurA Vol. 26; Mo. 40 ..kt air. r Up North Oilab4iiug Olak. Octokoi 21. 19S5 ...Lf ' " Oit Ten $2.00 10c Pet Copr Jr ' J DenverNamed Site Of Geology Confab Algom Reports Rapid Growth In J&t J---- ' VhtU Canada Survey Denver Bureau DENVER The men who search for the energy resources raw materials of the Rocky Mountain region will study their area of operations in one of the regions largest conventions in Denver next February. The Rocky Mountain Section of the American Association of Petroleum Geologists will hold its sixth annual convention here on Feb. 27, 28, and 29. The theme of the meeting will wards of 2,500 registrants are exbe The Tectonic Framework of pected. the Rocky Mountains." Interest in the Rockies as an a Simply stated, thats study area of exploration for and deof the earth movements which velopment of petroleum and othcreated the Rockies together with er energy resources is so widea timetable of the changes which spread that registrations from took place during geologic his- areas other than the Rockies will make up a good part of the total. tory. The effect of these formative The Denver Municipal Audiforces on the accumulation of torium Annex will be convention Accommodations oil, and on the accumulation of headquarters. uranium deposits will also be are the largest in the Rocky discussed in various papers pre- Mountain region suitable for such sented at the meeting. a convention. of Mountain section In cooperation with the DenRocky AAFG has become the largest ver chapter of the organization section meeting In the country in the Denver Convention Bureau its six years of existence. Up- - has arranged guest accommodations in 34 hotels throughout the city, in addition to motel and other housing facilities. A progress report on the development of the Algom Uranium Properties, Ontario, was recently released by E. B. Gillanders, managing director, Algom Uranium Mines Ltd., Ontario, Canada. The Algom Properties are located In the Blind River District, on the north shore of Lake Huron In Ontario. Gillanders revealed that since initial diamond drilling in May of 1953, three major ore areas have been proved with indicated reserves of 150,000,000 tons gradh of one ing better than percent U308. He said this development has already resulted in three sales contracts totalling one-tent- $444,160,000. Algom Uranium is preparing two mines on its properties to produce 3000 tons per day each. The Quirke Mine shaft, started in July 1954, is now completed to 864 feet with six levels and lateral work is in progres, he said, while work at the Nordic Mine is about six months behind that at the Quirke property. The scheduled production dates are July, 1956 for the Quirke Mine and January, 1957 for Nordic. He said the ore will be mined in panels and later filled with mill sands, leaving few pillars. He explained that underground ventilation will be forced and very closely controled as the ore is very siliceous as well as radioactive. Ore wil be treated by a leaching process, he said, and cost of surface installations on the property will approximate $22,000,-00- Yellow Wing Tells Of $10,000 Dividend Split A New Years will await gift ' OVER AVERAGE No official test reports have been received on . Gunsite Butte's second well on federal leases southeast of Farmington, NJVL but it is estimated at approximately double the average well In the field. 0. N. M. Mining Files Beat 1954 Record New Mexico Bureau Two more mining companies have registered operations with the state mining inspectors office in Albuquerque, N. M. The Mining Mountain Uranium Co. of Cuba has registered three open pit, strip mining operations for copper and uranium in Rio Aribba County. The operations, the Dessieux Nos. 1, 2, and 3, are located in Sections 28, 29 and E. The Taos Uranium & Exploration Co. has registered the Copper No. 1 Mine and the High Line Copper Mine in Taos County. The Copper No. 1 is in Townwithin the town of ship 27N-14Red River, and the High Line operation is in Township 29N-14north of Twining. State Mine Inspector John Garcia said that there are now 270 mining operations registered in the state, compared with 158 at the same time last year. e, E, Gunsite Butte Lines Up Eight New Well Sites Uranium announced today that the companys Florence No. 1 gas well is producing 1.434 gallons of liquid per 1000 cubic feet of gas, yielding approximately .03 cents or better per gallon. Less than three miles from the Gunsite is to drill the first well Gunsite lease, a neighboring op- and has an option on the other eration recently drilled 6000 feet seven wells. into the Dakota formation where The first well has been drilled struck gas. they and was spudded Aug. 31, 1955 It is unofficially reported this and was brought in Sept. 15. The well ran 2100 pounds pressure, official gauge of this well was establishing a completely new 10,154,000 cubic Ifeet pier day. horizon In the Gunsite lease, ap- Shut-ipressure was 990 pounds parently assuring better poten- with flowing pressure of 190 tials than the present rate of pounds. There was 34 feet of production, spokesmen for Gunsite- sand and the well was bottomed -Butte declared. at 1917 feet Spokesmen for Gunsite-Butt- e n Officials of the company said they are proceeding with plans to increase ownership of Gunsite Butte in suitable gas and oil leases and expect to dose several leases, that ought to substantially increase holdings within a few weeks. By an agreement with M. J. Florence and Caswell Silver dated July 1955, the company acquired a 50 per cent Interest in eight gas wells in the San Juan Gas Basin, 80 miles southeast of Farmington, New Mexico. Lewis-Clar- Drill k On New Utah Land g Diamond is now a area in in progress on Taylor Canyon, San Juan Councore-drillin- 14-clai- ty, Utah by m Uraqium Lewis-Clar- k Co., Wamiah, Wash. The company recently purchased the property which lies 50 miles from Moab, acocrding to Jim Danielson, president -- Yellow Wing Uranium Co. stockholders on Dec. 29th. The penny stock company announced a $10,000 cash dividend for their stockholders this week. Payment will be made from tungsten mining proceeds in the Potosi district of Humbolt county, Nev. of a Payment of cent per share will be made to stockholders of record Nov. 16, Lowell Potter, president said. In a progress report to stockholders Potter said ore shipments one-twentie- th are netting approximately TCA Studies Thorium Processing Survey Denver Bureau GRAND JUNCTION, COLO. Whether or not it is feasible to use a process of chemical extraction of thorium from thorite ores may be determined soon by the Thorium Corporation of America. TCA, now controlled by Colon$3,000 ial Uranium of Grand Junction, weekly from the Getchell mill. Potter said the company plans to use open pit. mining methods to increase the weekly revenue. The report noted Yellow Wing controls 73 per cent of the famous T.N.T. tungsten mine in the Hum-boand Battle Mountain, Nev., areas. lt This Name Taken Whats in a name? One Utah company found out this week after dubbing their newly formed outfit with the honorable title Shell Uranium, Inc. When a namesake firm Shell Oil Co. took offense the uranium company directors got together. With Shell Oil Co. paying expenses for the name change a new company title goes up over office doors. From this day out the Utah corporation will be known as Canada-Ut- e Uranium Corp. has entered into a research contract with the Colorado School of Mines Research Foundation. Results of this study, according to Robert I. Ludwig, Colonial president, will determine the merits of chemical extraction versus mechanical concentration of thorium. The research foundation will develop the chemical extraction process, determine its feasibility and evaluate the economics of the process, Ludwig said. Outcome of the study will also determine the type of thorium processing plant Colonial Uranium will build, he added. The research program is scheduled Climax Molybdenums Colorado Thorite ores to be used in the study will come from properties owned by Colonial on the east and west slopes of the Colorado Rockies. TCA recently has $1,000,000 In contracts with Lindsay Chemical Co. for production of thorium concentrates. Colonial, in addition to controlling TGA4 also owns a 20 per cent interest in Climax Molybdenums Coloroda Thorium & Metals Co., and has an interest in Lindsay Moly-controlle- d Chemical-Clima-x Rare .. |