OCR Text |
Show Pat e 2 LUCKY FRIDAY doubled its net income in 1956 over the previous year. The figure was $511, 298 or 39c a share, vs. $254,226 for 19c a share in 1955. . Net smelter receipts were up more than $600, 000 to over $1,500,000. Current assets rose nearly $200,000 to approximately $600,000. . . So far this year the company has shipped 55 cars of leadsilver concentrates averaging $14,000 per car net and two cars of zinc concentrates. . . Shaft deepening is scheduled to reach its current objective of 3130 ft. by the end of this month.. . Stockholders at their annual meeting May 28 in Wallace are expected to make the so it can be stock lister on the American Stock Ex change. . . On the Spokane Stock Exchange, Lucky Friday shares moved up to within a few cents of the alltime $5.08 high bid, despite falling lead and zinc prices. DAYBREAK URANIUM has cut a mineable width (four feet) of uraninite in the shaft it is potting down at its Spokane Indian Reservation property near -' le PEND OREILLE MINES hip greater ore reserves now than maximum estimates made years ago. Recent highly successful development work has confirmed reserves of at least 20,000,000 tons, stockholders learned their annual meeting here this week. One recent drill hole to the north of present workings revealed milling grade ore 140 feet thick, compared with an average of 30 feet mined to date. Another hole showed 125 feet of milling ore and feet of mineralization with part ore. Enough ore now is available for up to six additional milling units and management will consider enlarging the present milling facilities if conditions justify late this year. March output was over 56,000 tons. First quarter net profit before depletion and income tax was$221,592 vs. $124,163 a year 170 800-to- n ago. Eighteen men in Nation's mineral industries have been awarded Medals of Honor by the Joseph A. Holmes Safety Association for heroic action involving the lives of fellow employees, Marling J. Ankeny, director of the Bureau of Mines and Association president, said today. The association also voted a special group medal and citation to miners at a Utah coal mine whose lives were in jeopardy continuously for mors than 24 hours as they fought to save three men trapped by a cave-in-. Winners of medals from the Western United States are; Melvin J. Marshell Huntington, Utah; James I. Olsen, Wellington, Utah; Allen R. Cox, Hiawatha, Utah; Ross J. Anderson, Castle Dale, Utah; Joseph O. Montoya, Grand Valley, Colo., and David M. Fembridge, Rifle, Colo. The group award went to workers at the Kaiser Steel Corporacoal mine, tions Sunnyside Sunnyside, Utah. The association also awarded 522 Certificates of Honor for exceptional safety records and outstanding success in supervision. These went to one chapter of the Holmes Safety Association and 254 individuals and to the management and employees of 71 coal mines and companies, 77 metal mines and companies, 82 petroleum plants and companies, and 37 nonmetallic mines, quarries and companies. Bureau of R.G. Warnecke, was rewho Washington, Mines, secretary, elected, - Association accounts of the the following gave the which under circumstances earned: were of Honor Medals Melvin J. Marshell, James I. Olson, Allen R. Cox, and Ross J. for Anderson received medals extreme heroism and intelligent ation that saved two lives. All these men worker for 1 hours under mine roof that was threatening to cave at any moment to rescue two miners who were trapped by heavy fall of rock and coal in the United States King Mine at Hiawatha, Utah. Saved were loading machine operator Archie MeArthur and his stepson, Perry, a shuttle-ca- r driver whose head was pinned against the steering wheel of his machine by a large rock. The elder McArthur, who escaped serious injury by sliding quickly under the boom of his machine before the roof fall covered it, kept shouting encour- - BUNKER HILL had first quarter net earnings of $567,863 vs. $812,929 a year ago, or 53 cents a share vs. average quarterly operating profits of 33 cents Midnite mine. The inter- a share for the last nine months section was made at from 52 to 56 of 1956. incline feet in the SUNSHINE has stated on a new shaft and there is about 40 feet three-yea- r exploration of backs for possible sloping $500,000, ore to increase program designed Radiometric assays indicate 0.50 reserves at its Silver Belt operaper cent uronium ovide and chemconical assays are expecter to show tions. Report by an Arizona are chances says geologist sulting even higher values. Ore mined finding new ore. The at the surface to date has proven good for contains a proposal for rereport to be higher in actual uranium vision of present opeation agreecontent than indicated by radio- ments with neighboring SUN activity given off. The ore zone CON- - SIL. SYNDICATE, POLAR-Iwill be drifted out and developand SIL. DOLLAR, and these ment ore stockpiled pending start firms have the plan under study. of hte uranium processing plant Sunshine is 400 tons of at the entrance to the reservation uranium oreproducing from. monthly this summer. . . The autunite at Ransome mine the 1 stockpile at the firms No. which Sun Con, Sil. mine (in Utah) in Mount Spokane open-piSyndicate and Clayton Silver nof has reached 4000 tons. Oper- have interests. . . Sunshine also ations were resumed today at the has leased a promising mercury companys Huffman lease mine. deposit in Alaska and is investiHAULING OF ORE from the gating copper, gypsum, barite, Midnite uranium mine in the Res- lead, lime, and manganese deervation to the Ford, Wash., mill posits in Arizona, Montana, Washsite was started this week by a ington, British Columbia, Oregon Beardmore Transfer Line sub- and Montana. sidiary under contact with Dawn ANACONDA reported its Mar. Mining Company fo moving 160, quarter net dropped to $1.74 com000 tons of ore annually. Put into with $3.45 earned on a pared service was the first of four smaller of shares outnumber especially-buil- t combination standing last year. . Roy H. semitrailer full deisel tractor said the lower trailer units which will operate Glover, Chairman, to a decline were due earnings nearly 60 feet long, have a cap- in copper to 31.2 from 45c in the acity of 26 tons. Dawn Mining first quarter of 1956. Copper Company is owned by Newmont prices are not sufficient to mainMining Corporation and Midnite tain present production that is Mines, Inc., Wellpinit . . .NEWMONT MINING jumper $20 a important to the economy of the . share on the New York market ULSi, Glover said. , e this week to reach an . AMBROSIA high of $127-New-mon- ts 32-debr- S t 1957 Utah, Colorado Miners Honored For Gallantry in Disaster Work Mining HMites non-assesab- Friday, May 24, THE WESTERN MINERAL SURVEY Fuel-Compan- Nthe However, recovery work began agement fo his stepson as two of the rescuers opened a hole (immediately and after Several through the tons of rock cover- hours it wa3 established that ing Perry, cut the steering wheel three of the men were still alive. They had shielded themselves from beneath his head, and pulled to him by crawling under heavy mining safety. Meanwhile some of the rock machines. covering the loading machine fas Reaching the survivors was exremoved by the other workers, tremely hazardous, it involved; pemitting Archie McArthur to tunneling through huge piles of escape. debris under a weakened mine Joseph O. Montoya and David roof that threatened collapse ana M. Pembridge, employed by the burial of the rescue party. Union Carbide Nuclear Co., Rifle, By carefully shoring the walls Colo., both risk their lives to 3ave of their tunnel as they advanced a fellow worker Lloyd O. English, into the mine, the workers evenfrom electrocution. tually reached the suvivors. Once English was holding a the mine roof buckled and caved, electric pump motor when its but the well-set supports averted frame accidentally became elec- disaster and the three men were trically charged by contact with brought safely to the surface broken wiring. Pembridge rushed about 43 hours after recovery to Englishs aid, grabbed s work began. of his overalls and - The body of the other worker, but at great per- killed instantaneously by the sonal risk, to pull him free. cave-in- , was recovered two days Montoya then took hold of the later. lower, insulated part of the pump and attempted to wrest it from Englishs grasp. In so doing, he WESTERN MINERAL pulled a metallic part of the pump SURVEY against a steel tank; 'shorting the circuit ond freeing English. it puna LORRAINK The victim was unconscious and NEWS . CIRCULATION not breathing. Pembridge, as440-Vo- lt . back-straptrisd,-unsuccessf- sisted by others, applied arti- ficial respiration for several minutes before he regained con- ully 421 2402 Church Street Phone EM Curtis St., Denver ALplne ADVERTISING sciousness. EM Sox 2608 Both Montoya and Pembridge Belt Luke City, Utah had taken the Bureau of Mines 2402 Curtis St., Denver ALplne first-ai- d training course in recent Entered as second class matter at Salt years. Lake City, Utah, under Act of Marcn 3, For extreme heroism during a 1579. Subscription rates: 15.00 for tvo years; long and perilous rescue effort 13.00 for one year. mine-ers that saved the lives of three Please mention Western Mineral Survey after all hope for them was when writing to advertisers. Advertising gone, a medal of honor was voted rates on application. to a group of employees of the Editor Kaiser Steel Corporations No. 2 U M. HILL coal mine, Sunnyside, Utah. Four men were hurried in a All news appearing In the Western section of the mine that caved Mineral Survey la obtained from sources to be reliable but no responsibility during an earth tremor and, from believed assumed for accuracy of statements. the severity of the cave-in- , it was Is Reproduction of any material from this believed that all four must have publication must have written permission from the publisher. perished. ys One of the Larger Independent Rocky Mountain Oil Producers all-tim- LAKE URANIUM MAP Authentic detailing of ore bodies and property ownership covering over 200 Sections in fabulous Ambrosia Lake Uranium District of McKinley County, New Mexico. Wall size Map 36 x 42. $10.00 each. up-to-da- te ALAMEDA MAP COMPANY Box 1665 Mines and farms Albuquerque, N. M. products of enterprise Mines and farms are not found, they're made. A mine Is made by exploration and development,' while a farm is made by soil cultivation and planting. The risk of establishing mines and growing crops is undertaken because miners and farmers have hope of a profitable market; the farmer, at harvest time, the miner when it's time to sell the minerals he digs from the ground. UTAH MINING ASSOCIATION "From the earth comes an abundant life for all" Phone EMpire Utah Oil Building Salt Lake City, Utah 4-56- 69 kg OK |