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Show A "Jot WeiaS otf N Mce lH ffte Oil and iHiking World lHoit J STANDARD OF OF HUGE UTAH ASF One of the largest development programs of a Utah natural, resource was disclosed this week by the Standard Oil Company of Ohio. The firm is preparing to spend a al course of development, he said. should be very much disapmine said, if the mine is Gulch, west of Wal- pointed, lace, has all the earmarks of a not still in production when my converted to a low-pou- r point, substantial producer for many son, who is now 40 reaches the retirement age of 65. catalytic cracking stock of be- years to come. tween 28-3- 0 degree gravity (API). That was the opinion expressed This product could then be shiplast Monday by Roger W. Straus, New ped by pipeline from the Vernal Way Speeds of the AS&R board, folchairman mine and treatment plant to oil inhis first Butte Mining refining centers such as Salt Lake lowing of the underground spection property. City or Los Angeles. Successful use of block separation Reserves already developed are in a Montana copper minecavinga During the sand-ta- r and restoring, certain sufficient for several years opmethod in which an ore could be produced which would eration at the present rate of pro- mining is divided into blocks each body help defray the costs of mining duction of 375 to 400 tons daily, of which is undercut so that it These products and retorting. caves by gravity is described metal and additional tonnages can rea- in might include a Bureau of Mines technical lurgical grade coke and aromatics. sonably be expected in the norm-- report released today by the United States Department of the and reserves and mining operations are expected to begin in a few months. g, semi-refine- g at by-produ- non-sulph- ur Interior. Sundown Mining, Knapp Uraniu Sign Garmesa Drilling Pact Vitro Uranium Company, a division of the Vitro Corporation of America, has signed a multimillion dollar contract with the U. S. Atomic Energy Commission for production of uranium con centrates.' The contract was announced jointly by William B Hall, Vitro Uranium Company general manager, and Allan E. Jones, manager of the AEC Grand Junction Operations Office, Colo. The exact amount of .the contract was not disclosed. The agreement, which runs through March 31, 1962, extends a current AEC contract which was scheduled to expire in December, 1958. Under the new contract, Vitro will spend a maximum for expanded production and installation of a solvent extraction process for uranium ore $1,-200,0- 00 After lengthy negotiations and inspections by eminent geologists, Sundown Mining Co., Salt Lake City and Knapp Uranium Development Co., also of this city, have signed a joint venture drilling agreement on Sundowns acreage in the now widely publicized gas fields of Garmesa in Mesa County, Colo., it was announced today by Clyde J. Knapp, president of Knapp Uranium. Sundown property lies in the immediate area of the following producing gas wells: Amarada Asbury Creek Unit No. 1; American Petroleum High-lin-e Canal Unit No. 1; American Metals Unit No. 2; The Bar-Unit No. 1, and Bar-- Unit No. 2; Sinclair San Arroyo No. 1, D. M. Linney Gov. No. 1, B. W. Hancock No. 1; West Bar-X- , Western State Oil and Metals Corp. No. 1. X 23 13 million cubic feet of gas daily. Officials of Sundown Mining said the company owned more than 1600 acres in this newly discovered oil and gas field. Under the drilling agreement, said Mr. Knapp both Sundown and Knapp Uranium will partibasis in the cipate on a fifty-fift- y this propon for gas exploration has Uranium agreed erty. Knapp to spend $30,000 for drilling property, or such lesser sum as is necessary to complete a producing well. As the owner of the property, Sundown agrees to give Knapp Uranium, the driller, one million shares of common stock. This stock is to be delivered to T. C. United Western Spurs Development In addition Standard Uranium, SANTA FE, N.M., Oct. 23 treatment controlled by the Charles A. Steeiv United Western Minerals Co., toIn connection with the contract, interests, and Beehive Uranium gether with the farmout group of Mr. Hall announced that Vitros have five wells in the area. Steen J. H. Whitney & Co., White, Weld Salt Lake City mill will expand announced two weeks ago that & Co. and San Jacinto Petroleum its policy of purchasing ores from one of the wells was flowing independent mines. Vitro Corporation of America is a diversified industrial organ- Tax Take In U.S. ization active in many advanced scientific and technological fields. Tops $100 Billion It is one of the few companies For the first time in UB. history d operaengaged in tion in atomic energy, from re- the total tax take for one year is search and uranium mining and at the $100 billion level. processing to engineering and conThat will be $608 for every struction of nuclear facilities. man, woman and child in the nation. Twenty years ago the take , was $83 per person. Collections have risen more than $11 billion during the past year. across-the-boar- Lead Output Dips In West States 0 Domestic mines produced tons of recoverable lead in August, an increase of 1,400 tons or 5 percent over July,' according to the Bureau of Mines, United States Department of the Interior. The gain resulted largely from a rise in production rates of mines in the Lead Belt of southeastern Missouri. The combined production of the Western States mines declined slightly. Output in Utah, which ranked second among the Western States in lead production, decreased 24 percent, owing chiefly to a downward fluctuation in output from the large United States and Lark 29,-40- mine. Fefin-in- Vulcan-Galen- a 8-- Vitro, AEC Sign Expansion Pact oducer DEVELOP AS&R Develop Idaho American Smelting I BEDS companys new he on Lake The bitumen would foe separated from the sands mined by open pit by combined mechanical and milheat methods. This would probetween $30 million and $40 one of the duce a sand-fre- e pitch of between lion in development of 9 degree gravity (American largest deposits of bitumen In the United States. The deposit Petroleum Institute scale). Such a product would have a is located near Vernal and has been used in a small way for road very high pouring point. But by .vise-breakina form of building purposes for the past 20 use of d or retorting, the bior more years. This native asphalt, although subjected to tumen thus extracted would be some of the heaviest traffic in the state, has stood the test almost equally as well as concrete. The company is now engaged in making a survey of the asphalt -- 10 Cents .y. Utah, Friday. October 26, 1956 Vel. 27; Mo. 35 Corp., is studying plans and accepting bids for the sinking of a shaft in the Ambrosia Lake area. Bids for the shaft, to be located Mcon Section 36, Kinley county, are being accepted through Chapman and Wood, AlT-14- R-10- engineering firm. buquerque The development will consist of a 400 foot, two compartment shaft. The site is two miles west of the United Western - farmout groups ore body on Section 32, which recently was a limited in joined partnership with Homestake Mining Co., of Sanfrancisco, Calif., for construcSome congressional inquiries tion of a uranium processare getting under way for a re- ing mill and mining operations. vision of the tax laws. But almost no one expects tax cuts at the federal level no matter which AEC Mill Inactive party wins the election. And with the demands on state and local At Moab Oct 31 governments to meet increased The Atomic Energy Commission needs, the outlook is all for still will place the ore buying and sampling plant at Moab on a higher taxes there. standby basis at the close of busiA lot of other things are headed ness Oct. 31. for the stratosphere, too. The total Processing mill of the Uranium of public and private debts is Reduction company at Moab, will expected to reach $700 billion by provide a future market for most the end of the year, a new high. of the uranium ore producers in National income this year is ex- the area, the AEC announced. pected to be a record $340 bil- Shippers, whose ores are not aclion. And tangible wealth, public cepted at the URC mill, will be and private, is set at a staggering offered a market at the Monticello trillion. $1 buying and sampling station. ' T-14- R-9- 750-to- . n By using this method, large ree serves of copper ore that could not be extracted economically by other techniques are being mined at the rate of 0 tons a day from the Anaconda Companys Kelley- Mine near McAdam and Max Guss, Salt Lake Butte. City, who will act as escrow agents, and sell so much of the stock as is necessary to recover Aandconda Will Buy the sums expended by the driller. The stock will be sold between Geneva Ammonia the time of the execution of the Contracts for the purchase of agreement and compltion of the substantial quantities of amhy-drou- s well. ammonia $18 milOn completion of the well the lion chemical from the of the UB. plant two companies will share alike in Steel coproration at Provo, has any and all expenses of produc- been signed by the Aanaconda Co. tion and any profit realized after at the Amhydrous the payment of said royalty and Geneva Steel purchased will be used works over ride. at Mont., for producThe driller shall also have the tionAnaconda, of ammo-phoan ammonoption to share in any further ium phosphate fertilizer, it was drilling upon said property in a announced by E. S. McGlone, Anajoint venture with the owner. conda executive vice president. According to Mr. Knapp it has Mr. McGlone also told reporters been disclosed by Max Krey and the reductions in Monday Schuh, geological constultants, of by custom smelters prices of copper probGrand Junction, that drilling ably would not affect the depth on the acreage is approxi- quotations by major domestic promately 2800 feet. ducers. He said there was no real overNet Earnings Gain supply of copper at this time and added that Aanaconda was looking At Rico Argentine forward to an excellent fourth-quarte- r Stockholders of Rico Argentine sales record. Mining company, were told in the The executive also predicted annual report over the signature that 1957 would be a good year of Sherman B. Hinckley, Salt for domestic copper producers. Lake City, president, that net income for the year was $324,280 and that earnings were equal to 34 cents per share. This compares with 21 cents per share in 1955. The stock is quoted on the Salt Lake Stock & Mining Exchange at $6 bid and $6.62 asked. ' U. Stockholders were advised that low-grad- 15,-00- - s, 40-ce- nt Stunt Nets Newlyweds $1000 Job TV the past year marked the beginning of efforts to diversify the products produced by the company at Rico, Colo. In addition to lead-zinmining and milling, the sulphuric acid plant operated for more than nine months. Capital required for construction of this plant was c $1,-285,0- which was provided from corporate funds and a bank loan of $400,000, which has now been reduced to $150,000. Indian Land Bid Opening Nov. 1 Bids on the first of three offerings of Navajo Indian Tribal lands will be opened at the Window Rock agency Nov. 1. The first offering is for lands located mostly in San Juan county, Utah. These include some lands in the oil rich Aneth area. The current offering is for ap-- . proxlmately 121,600 acres. MOAB, Utah, Oct. 22 A Cal-iforn- la couple today held a check for advance payment of potential uranium royalties, as result of a TV program stunt In which a Moab uranium company took part. The check was presented by D. E. Kivett, president of Utaco Uranium, Inc., to Mr. and Mrs. Fred Ilansing of North Hollywood, Calif., on Art Linklet-ter- s $1,000 People Are Funny pro- gram. Mr. and Mrs. Hanslng, newlyweds, were sent by Linkletter to look for a million dollars worth of uranium in southeastern Utah. Under the guidance of Kivett and Bill Hines of Moab, they staked a claim in East Coyote Wash, San Jaun County. Utaco will explore the claim further and the Ilansings will share in any returns. |