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Show op u CITY 1 library METAL PRICES 13.5c Lead (per lb.) Gold (per oz.).$34.9125 242c Copper 14 Zinc (per lb.) Silver (per oz.) 83.25c new mined ,V. Features Mining, Oil, Financial Vol. 23, No. 45 One Year $2.50 Salt Lake City, October 31, 1952 Low Cost Foreign Metals Force Closing Of U. S. Mines continued to call, the turn on lead prices this its to reduce quotation week forcing a leading domestic smelter a 13 cents New one-haYork, to cent pound, additional by an two years. the lowest in more than The direct relationship between activities on these foreign marikts and the recent declines in lead and zinc prices, can readily be seen in the figures on base metal imports this year. There figures provide the explanation of why the domestic mining picture has changed in the past six months from all-oproduction and feverish deThe Scouting Division of the velopment activity to closed mines and curtailed operations. Carter Oil Company, Northwest summaries released by the Division, has released the folAmerican Zinc Institute this lowing summary of drilling weex snow tnat during the first wells for the week. eignt months of inis year imG. E. Houston No. 1 (located ports of zinc contained in conMineral Fork of Big ' Cottonwood Canyon is site of a new ore development program being centrates increased more than in Roosevelt Pool in SE SW. furthered by Mountain Mines Company. Shown above is a view of the vast Mineral Fork three-loiover tne comparable Sec. Total depth area where new mineral production is a neir, future possibility. January-Augus1951. of period 10,142 feet, plugged back total iyoz, imports totaled. 554,855 retaintons as compared with 184,321 depth 9760 feet, drilling er. Tested at 9450 feet. h tons for the 1951 at 9760 feet, Swabbed During the same peperiod. a zinc showed riod slab 54 bailers full of oil, 37 per imports tons from decline 60,123 slight cent from water, 23 per cent The Big Cottonwood mining district, located some 25 miles last year to 57,053 tons this drilling fluid and 40 per cent southeast of Salt Lake City, Utah, is scene of a number of com- year. same time lead imports from oil. Swabbed from 9650 ft. the At prehensive programs. development Wallace, Idaho Bunker Hill more than doubled. According with F. L. at 9150 feet. SwabOne of the more interesting and Sullivan Mining and Conto the American Bureau ox ber 88 barrels of fluid in 24 started has company centrating .operations involve work being Metal Statistics, lead imports in hours, cut 33 per cent from waclean up and repair work prep- conducted the first eight months of this ter, 34 per cent basic sediment hy Mountain Mines 33 per cent from oil. Drillaratory to resumption of explor- Company, which controls propyear mounted to 285,089 tons and ation and development at its ed feet. at 044041 retained from 118,971 tons in the correCrescent property on Big Creek, erties in the Mineral 'Fork area 48 of fluid Swabbed in barrels sponding period in 1951. west of Sunshine Mining com- of the canyon. 14 hours; 45 per cent water, 31 The effect on domestic mine Work by this firm is now becent basic sediment, and 24 pany ground, it was learned this a series of production is shown in the de- per ing concentrated in week. Zinc per cent oiL clining monthly output. In response to a query, by the raises made from the main dedisNev. Ban Reno, Maffi, H. A. Peterson No. 1 (located Wallace Miner, General Manage! velopment tunnel n the Silver trict' manager for the Nationa production in August was 48,779 in Roosevelt Pool in SW SW, as a with monthtons compared J. B.Haffner said that crews King Fissure. Production Authority, had wore Sec. Total depth are now at work catching up This development program is from Washington that DPA had ly average of more than 60,000 109 bailers feet. 10,276 months tons the first six Pumped during caves in the1 main tunnel and being projected in an effort to boosted the goal for tungsten 19 97 of oil hours. outin lead of the Pumped year. August making general repairs, includ- determine value of ore shoots ores, including both domestic 20 barrels oil 12 hours. in of was tons of 29,649 Pumpper ing repair of the bridge across encountered in the Silver King production and imports, to a rate put Jariuary-Jun- e 119 barrels of oil in 23 hours. ed below cent the deabove vein at in backs the property. the main Big Creek, of 40,000,000 pounds for the year average. Pumped 100 barrels of oil in 23 Extent of the program to be velopment tunnel. Ore which 1954. The 1950 new supply was 114 barrels of. hours. under-take-n has been opened on the present 9,000,000 at the long-idl- e Reports of mine closures are oil in 23Pumped and the goa pounds, hours. Pumped 109 mine has not yet been entirely operating level is not of suffi- toward which die government becoming commonplace on the barrels 23 oil of hours. in Pumpdetermined, but plans will be cient value under present mar- was working up until the revi- domestic scene. 20 97 ed oil barrels hours. in of announced as soon as they have keting conditions, company of- sion was 32,200,000 In Utah, includd in mine shut108 pounds. of oil in barrels Pumped been worked out, he said. De- ficials advise. of downs as the result of metal 23 hours. DPA The most noted that velopments in lead and zinc Raising operations on the the tungsten supply has to be price declines, along with other Whitlock-Oylo- r facNo. 1 (locata be. will substantial prices known ore shoots i8 expected to imported, but Maffi commentec factors, have been two of Park ed Roosevelt in Pool in NW SW tor in the planning, he pointed develop ore of commercial value districts leading producNevada productioin has in- City that Sec. these since Coalition Mines out, Staking location. developments as metal content of ore proKing with work ers, Silver and will determine the amount of duced in upper working of the creased so rapidly ConPark Utah on scores of pro- Company Joseph Smith No. 1 (Flat Mework the company is able to un- mine was considered profitable. going ahead Mines Company. More sa wildcat well located in censolidated ducing and prospectively profit- recent, has been the dertake and justified in underclosing of ter of SE SE, Sec. able that the outlook AMERICAN METALS properties at Horn the Silver Drill-stetaking. activity 5 test 18 between Operations at American Met- for domestic contributions to Mine, Beaver County, Utah, Rumors that a program of 2 had feet, Open hours, supplies has taken on a which has been deepening the present 1200foot al Mining Companys property strategic 14 minutes, operated by to in surface gas new and aspect. encouraging Crescent shaft is under consider- in the canyon has resulted in Metal Producers. Closing of the flowed gas by heads 75 minute, One of the expansion latter the of vein the Garfield phase ation have been circulating in striking operation can be more di- recovered 8510 feet of the district for several weeks, where heavy mineralization has goals program of DPA,- Maffi rectly tied to the decline in the oilcut and heavily gas-cu-t slightly mud. since it was disclosed at a Sil- been encountered. The vein is commented, lies in tax advan- price of lead. New Park Mining Total depth 8857 feet. Taking ver Summit Mining company said to average from 5 to 6 feet tages. When DPA sets an ex- Company, leading producer in drill-stetest. determines that the Park City area continues to stockholders meeting early in wide, mostly of iron content pansion goal, it is to essential the defense with streaks. goal September that Bunker Hill had operate. asked that its Crescent hoist, Over 400 feet of tunnel work program. In helping private enIn addition to these major which has been in use at the has been done by the company terprise expand in line with the properties, a number of smallSilver Summit mine for the past since July of this year. Pres- program, it issues certificates of er producing companies ant Week Ending October 22, 1952 several years, be returned. It is ent findings in the South Price necessity to expanding firms leasing groups have been forced BINGHAM DISTRICT UTAH: Combined Metals Reduction expected that this will be Tunnel are some 625 feet below to permit them to accelerate out of business. around the first of next year the Branborg tunnel where the their tax amortization of the in the adjoin- Co. 300 Tons. operators Large projects, dim- ing state of Idaho are reported U.S. Mines 7300 Tons. when the big new Silver Sum- Garfield fissure has been enloss risk of in the event to be hard pressed mit hoist now on order, is sched- countered. At the lower depth, inishing by the Utah Copper (Kennecott) 1063 a of decline later in the market squeeze between reduced uled for delivery. init is anticipated that mineral Car Daily Average. for products of the hew The Crescent property, which values will increase. come from ore sales and fixec PARK CITY DISTRICT UTAH: costs for labor, materials and New Park Mining Co. 872 Tons represents the easterly end of Bunker Hills vast Cbeur dAlene EUREKA DISTRICT UTAH: supplies. Man underground workings TENABO MINE ACTIVE district property, was closed Other Northwest mining opDragon Cons. Clay 47 cars; down about 10 years ago, early of the property are the long RENO, Nev. Chief Consolidated Ore 14 cars Operating the erations which have been forced in the World War II years, be- Hooper tunnel and the Crescent Goldacres property seven miles to close down are American PIOCHE DISTRICT NEVADA: cause, being primarly a silver shaft which extends to the 1200-fo- south of Tenabo, London Ex- Zinc, Lead and Smelting ComCombined Metals Reduction level. They are in the sil- tension Mining Co. is reported panys Lead Hill mine in the Co. Zinc Cone. 8 cars; Lead Cone. mine, it could not qualify, under war regulatons, for sufficient ver belt between the Alhambra milling about 430 tons of gold Metaline district of Washington 3 cars; Perlite 17 cars. materials and manpower to fault on the south and the Sil- ore daily, mined in an open pit and Idaho Custers Livingston Bristol Silver Copper Ore 1 on the 700 feet wide, 1900 feet long and mine in the Boulder district oi! car; Lead Ore 1 car. maintain its operation. It has ver Syndicate fault-vei50 to 70 feet deep. north. been idle since. Custer County, Idaho. Courtesy J. A. Hogle & Co. Foreign markets lf ut Activity In Utah Oils Shows Gain d 18-1S-1- t, Bunker Hill To Resume At Crescent Big Cottonwood Scene Of Mine Development Work ed eight-mont- , . Nevada Mines Yield Needed . Tungsten Ore 10-1S-1- 24-1S-1- 16-3S-5- m - m lead-silv- er Ore Shipments defense-connecte- d 85-to- n ot n 8553-860- |