OCR Text |
Show Muck 2. 1956 Page 3 The Western Mineral Sirvey, Salt Lake City, Utak Republic Buys Claims; Eyes Tar Baby Deal Geologist Reports Six Per Cent Ore On Moab Land, Drilling Planned Negotiations were still pending at the week end, looking toward a possible agreement between Republic Uranium Corp.y and Tar Baby Mining Co., for drilling and operating one of Tar Babys properties on which ore has been found. Republic has recently acquired two important groups of uranium properties that give promise of important production results according to officials. 45 Tons Daily Adam Mickey Duncan, counsel for Republic, announced Republic has purchased 97 claims, known as the Taylor- Canyon group from the H. T. & G. Min ing and Exploration Corp., of which Dr. Milton Hickey, M. D., are now in production from the of Los Angeles is president. drift on Lone Butte No. 1, with The claims, located 30 miles four separate ore faces worked. south and west of Moab, are in an Management estimated daily area of intense mining activity tonnage averaged better than .20 and possess perhaps the greatest - 01 Jato Develops Three Mining Sites Daily shipment of 45 tons of commercial ore from 01 Jatos Lone Butte No. 1 mine, in White Canyon, are in progress, management announced today. Development of the company properties in White Canyon, Red Canyon and Elk Ridge has been Jewett Joins Vitro Frank B. Jewett, jfT of New Canaan, Conn, has been elected a vice president of Vitro Corporation of America, and a member of the board of directors, according to J. Carlton Ward, Jr., president. Mr. Jewett is a graduate of the Institute of Technology, 1938, and the Harvard Busi- California ness School, 1940. He comes to Vitro after eight years with General Mills, Inc. of Minneapolis, Minn. Until 1947, Jewett was with the National Research Corp. of Cambridge, Mass., becoming vice president and manager of the Vacuum Engineering Division. going on for over a year. Management expects to have four separate mines in production by the end of the summer of 1956. The program of daily shipments has been under way several per cent ore. weeks. A recent progress letter to stockholders signed by Max K. Mangum, president, revealed 01 Jato now holds nine separate groups of properties equivalent in area to approximately 113 claims. The letter described each group as 'strategically located with respect to known ore deposits or mineralized channels." Mangum's letter said Radio Geophysical Co. has contracted for mining operations to commence on the Raven Claims in a short time. Ol Jato expects production from .these claims by spring, the letter decalred. Previous drilling on the forward part of the Raven claims disclosed an ore body ZOO feet from the rim. The Rainbow and Rocky Claims of Island Mesa, the letter stated, 76 LARRY'S UNION FINEST SERVICE Quality Products at Lowest Prices 1165 California Ave. Phone IN 6-00- 80 SALT LAKE CITY.UTAH Let us help you with of any Republics holdElimination of a road bottle- potential neck approaching the main White ings. Dr. Bronson Stringham, noted Canyon road, is expected to maincrease production totals. geologist, in a professional report terially of the property quoted: The letter said the company There is an outcrop of ore plans an additional mining op- which showed counts with a Gei-geration on the channel on the to instrument six up per cent north portion of Island Mesa. major operators, including one petroleum company, relative to sale of an interest in these claims in consideration of a substantial drilling program. The directors in their report expressed the belief that these claims have as fine a potential for substantial uranium production as any claims on the Colorado Plateau. Republic, engaged. Geologist Don E. Bogle to examine these, claims. Conclusions and recommendations In the geologist's re- port are: 1. These claims are located in an extremely active, highly mineralized area with many parts uranium. ' producing mines in the immediThe thickness of the miner- ate vicinity. alized area was measured at four 2. Mineralization exists on the to five feet over a distance of as much as 30 feet, and it is property and there are several radioactive anomalies. thought that this ore could be 3. The claims are underlain shipped at the present time. There are also immediate ore by two possible productive horipossibilities on the Shinarump zons. outcrop existing on some of these sta4. Distance to claims." tion is 23 miles by better than Republic management, upon road. recommendation of Dr. Stringham average 5. Drilling depths will range and other professional consultants 30 to 400 feet. from announced their intention to exDrilling and drinking water can tensively drill these claims. They be secured from a perennial said they are considering several spring three miles northwest of split check offers. Attorney Duncan also confirm- the claims. It is possible that an ed that Republic has acquired the artesian well can be secured on important Jo Dandy group of the property by drilling to a 30 claims from Prospex Corp., depth of about 200 feet near the Tulsa, Okla., of which Warren G. floor of the canyon. Morris is president and is now Geologist Bogle said geological conditions existing on these drilling on the property. The Jo Dandy group, located claims are similar to those existsouth and west of Blanding, in the ing in nearby producing mines. White Canyon-ReWith a cash balance of $32,000 Canyon minRein were district the bank, plus two good Shining acquired by as of the part public purchase arump properties and one Morriand sale agreement with Bojo son group of claims, Mr. Duncan said Republic directors face the Uranium Co. In a special report published future with optimism. Republic this week, Republic directors said recently merged with Bojo Urathey are negotiating with several nium Corp. et The report said additional rim stripping on Island Mesa is promised by the lessee. Mangum said the company is aware the area to be stripped, contains at least one favorable mineralized zone from which good hand samples have been obtained. He said he believes a rim stripping program would blear another area for future mining operations. Blue Goose Views Elk Mt. Property Blue FARMINGTON, N. M. Goose Mining, Inc., today an- nounced negotiations have been completed for purchase of 36 promising uranium claims in the Elk Mountain district of San Juan county, Utah. L. E. Murray, president, said Blue Goose is buying the property from the original stakers, and that the transaction will be closed as soon as certain title information is received and approved by Blue Goose directors. Terms were not disclosed. Exploration and development work on the claims will be started as soon as weather conditions make it feasible, Murray said. He added that Blue Goose, which has an estimated 40,000 tons blocked out in the Circle Cliffs area of Garfield county, Utah, expects to acquire other favorable properties in negotiations now underway. Amendments to the Blue Goose offering circular covering a recent change in the directorship and stock control has been approved by the Securities Exchange Commission, Murray said. Birkenmayer & Co. of Denver is the Blue Goose underwriter. DORSEY HAGER CONSULTING GEOLOGIST 909 ContineBUl Bask Bldg. EL 32 . ore-buyin- g d Gulf Uranium and Development Company El Rancho Hotel GaUup. New .Mexico NOTICE OF ANNUAL STOCKHOLDERS MEETING AND SPECIAL STOCKHOLDERS MEETING PLEASE TAKE NOTICE that a special meeting of the stockholders of Gulf Uranium and Development Company will be held at the offices of the corporation at El Rancho Hotel, Gallup, New Mexico, at 10:00 o'clock A. M. on the 12th day of March, 1956, to consider and vote upon increasing the corporation's authorized capital to 50,000,000 shares. Immediately after conclusion of the special meeting of the stockholders, the annual meeting of the stockholders will be held for the purpose of electing directors and the transaction of such other business as may properly be brought before the meeting. The annual meeting was postponed by action of the Board of Directors in order for it to coincide with the date of the special' meeting. If you cannot attend these meetings, you are urged to fill out the company's proxy and mail it to the secretary promptly. It is important that the wishes of a great majority of stockholders may be ascertained with respect to all matters which may come before the meeting. The stock transfer records of the corporation will be closed as at March 5th, 1956, and all persons listed as stockholders on that date will be entitled to one vote for each share held. S Dated: February 16. 1956 Mattie Peusma Secretary |