OCR Text |
Show PAGE March 22, 195S Tht Western Mineral Surer, Salt Lake City SIX Paints Fantastic Picture of Future Uranium Center USC Chairman Love A discussion of the possible future trend, by Milton H. Love, chairman of the Utah Securities cover adequate where. Wyoming might even be the answer or Canada, according to Mr. Love., who indicated a period of watchful waiting becomes necessary as time unfolds just how enormous Canada uranium production is going to be. If it surpasses Utah in production, then he sees a possibility of Toronto as a uranium center. According to Chairman Love almost a third of the Utah uranium companies that have registered with his office are producing ore. He pointed out that Floyd B. Odium in a recent talk at Denver, said his company now has 300,000 tons of ore they are sure of and he is depending upon geology for more. Perhaps some of those now producing may not be in business two or three years hence, we dont know, said Chairman Love, who looks for an improvement in production with Spring opening up. He pointed out that Moab has grown to a present population of 5,000 whereas for 20 years, it was about 1,000 or 1,200 inhabitants. He also pointed to the amazing population growth taking place both east and west of Blanding and around Monticello. He said that the government and private enterprise plan five or six refining mills, which will be at the centers of population, and lf 0-- 8, a poisonous destroyer. the famous gold mines of South Chairman Love pointed out that Odium is one of the financial genius of the nation, who is looking to the future as he invests heavily in the uranium industry. Africa. Pitchblends is a co -- product with the gold and is obtainslimes. ed from uranium three recovery Already plants are in operation. At least a dozen additional plants are in various stages. of construction or In 132 Main Street Mining Stocks Rebuilt and Hardiaced Castings oi all Types Repaired 2380 Washington Bird. CITY OGDEN 523 West Spragne Ave.. SPOKANE 33 North University, PROVO GUARANTEED Phone AM 6420 So. State 21 Murray PARTS & BRADEN WINCHES BRONZE MEMORIALS RUBBER STAMPS STEEL STAMPS MACHINE ENGRAVED PLATES PHONE WORK TRUCK AID EABL PAHHEH, Owners 242 EAST 2ND SOUTH ALL INTERMOUNTAIN AREA'S LARGEST STOCK Intermountain Stamp Works CLYDE . BOLL CRUSHERS Loans Made on Listed Mining Securities SALT LAKE and . 0-40- 04 Airow Power ion planning. Profits from uranium production may eventually equal profits from gold." The scintillometer is also a boon to the lonely gold panning prospector who can, with its use, locate any of the many types of gold placers. A stream placer, which is one in which the gold has been transported by water to Its present location, usually is the prospector's best bet. The heavier a mineral, the faster it sinks, CBUSHEB JAWS York Stock Exchanges Lake-Spokue-N- ew We Specialize post-cyanidat- AL'S WELDING A. HOGLE & CO. Member Salt TD-- 6 el However, Love added, that if Salt Lake City and Utah maintains its volume of production, with every prospect of doubling in 1955 the production of 1954, he cannot see a diminishing production for the forseeable future. It depends on what ore is discovered and produced, he pointed out. 8 International Drott loader from the Lang Company, Salt The price guarantee of the gov- Lake City. Three experienced ernment for the next eight years Morrison formation miners, who is hailed as a stimulating factor are familiar with this type of by Chairman Love, who said mining equipment, have been that never before has industry employed. Preliminary drilling was comenjoyed an arrangement where the buyer guaranteed the price of pleted January 1 on the Slick the product for a long time, and Rock properties. A total of 18 in addition is willing to build holes were drilled behind a 40 roads and loan money and at the foot drift previously started, and same time pay a good price and from which some ore had been a bonus on the first 100 tons of shipped. All of the holes showed ore shipped. good mineralization, the report indicated. Nine showed high We are looking into a tremen- mineralization, five were fair dous development of energy from and two were of good commeruranium, similar to the situation cial grade uranium and vanadium that prevailed at the discovery ore, the report said. of the steamboat and electricity. The report, prepared by Keith Just as sure as we can produce B. Redd, president, said the first energy for industry, then indus- of the two ore holes was 100 feet try is going to accept it. Here back of the existing tunnel. Bab-bwe have a chance for the induscounter readings with a calitry to develop with the customer, brated probe, showed mineralizawhile industry is making up its tion for 10 feet, with an average mind as to its value, Mr. Love of .45 8 for per cent U-- 3 said. of eight feet, Redd reHe said statistics indicate ported. Continuing for 75 feet in the ,500,000 tons of uranium ore per same direction from the tunnel, 10 in used will be years by year ore hole was encounsecond 15 (the and in electrical the industry radio activity for electrical tered, all showing years practically 17 0 thickness feet with a readof 13,000,-00a power, will be requiring of tons of uranium per year approximately 5.70 per ing cent uranium oxide at the highChairman Love referred to est point of the count. At least Floyd B. Odiums Denver ad- eight feet of this distance showed dress, in which Odium pointed commercial ore averaging better out the great danger from a radio than .50 er cent U-- 3 0-- the re- Jiis report active falling out after explosion port said. of atom bombs, whereby radio acA chemical assay of samples tive material is swept by the from drill cuttings, for a thick- Atomic Instrument wind through the atmosphere ov- ness of approximately eight feet er a wide area, injuring the phys- in the second hole, showed .513 Helps Locate Gold ical welfare of human beings. This association between gold a Touching upon point brought and uranium was pointed up by out by Odium that radio active Thomas E. Gillingham, Chief, elements are controlled to the Geophysical Exploration Branch, point where they are beneficial Division of Raw Materials, A.E. in treatment of cancer and in C., in an address before the preservation of fabrics when subAmerican Mining Congress at Sejected to radio active rays, Mr. attle, Washington: In the TransLove ventured the opinion that and the Orange Free State vaal business will harness radio active elements for mankinds benefit are the greatest potential uraand not permit it to be used as nium producers of the world . essentials that will be needed. If Colorado develops mining properties that exceed in importance those of Utah, then a probability could be that Denver would supplant Salt Lake City as the uranium center. If the growth of the uranium business gets tremendously large, Mr. Love is not sure that we can finance it here, and many companies seeking capital may be obliged to go else- J. other a per cent U-- 0-- and 1.27 per cent V205. The assays were made from the cuttings as the holes were drilled. According to Earl Smith, similar samples usually are from 35 per cent to 50 per cent low as a result of dust loss and contamination. No drilling was done beyond the last hole. It is the general practice in Morrison properties to explore the extent of an ore body by mining rather than extensive drilling. More drilling is anticipated later. Small veins of high grade ore, indicate to President Redd that exploration may be going into a good ore body. No chemical assay of the stock piled ore is available, although counter reading's indicate it to beover .50 per cent uranium. He said the color and characteristics of the ore indicates it should run high in Vanadium content. Redd reported the properties are in the immediate area of several large producing mines. These Include Jack Turners Uranium, Inc., A.E.C. lease, the Vita Glad, operated by Brown and Noble, and the famous Cougar mine, which is one of the largest producers in the Morrison formation of any. mine on the Plateau. In addition to ore discovered in the present drift, President Redd reported discovery of another vein, approximately three feet thick, indicatand one-haing approach to another ore body, which he believes, could possibly continue back to the area that was drilled in Janu-ay- . This new vein is estimated to be approximately 200 feet from the tunnel. Officers of the company and working miners of other producing mines in the Slick Rock area, believe indications are favorable for a large commercial body of ore, President Redd declared in 3 Discovery of high quality which alone, will provide employ- commercial ore 03 its Slick Rock, ment for 300 people as well as Colorado claims, was reported geologists, engineers and prospec- today by officials of Intermountors. tain Uranium Corporation of f Monticello. This ore, the report Mr. Love said business will inis now being stockpiled. crease because of the increased said, Mining operations began March population; the small towns of 5, upon completion of road work, southeast Utah face a rosy fu- it was disclosed. ture, particularly if they can disThe company recently bought water and Will the uranium center of the west be definitely established here in Salt Lake City, or can it be possible the trend of future discoveries, could create a new center either in Wyoming, Colo rado or even in Canada? Commission is most illuminating. Intermountain U. Corp. Reports Ore Strike Take-oi- ls Or EXCLUSIVE We have a winch or for any job SOME GOOD BUYS IN ARMY SURPLUS WINCHES Orders Filled Promptly We Skip Daily Anywhere HAFER'S INC. 1563 South 2nd West Phone 84-43- 11 Salt Lake City By Urainbow, Inc. Exploration work is proceeding at the Hack Canyon mine of Urainbow, Inc., consisting of the drilling of a series of test holes to determine the extent of po- tential uranium bearing formations, it was announced in Salt Lake by officials of the company. The Hack group is located in' Mohave County, Arizona, some 37 miles southwest of Fredonia. These claims were originally mined for copper, but in 1951 copper shipments were discontinued after uranium was found to be present in the ore. Present mine workings consist of a 65 foot vertical shaft and approximately 500 feet of underground drifting distributed through four levels. From July, 1951 to April 1954, approximately 1600 tons of ore assaying 0.22 per cent uranium oxide were shipped to the uranium ore buying station at Marys-valUtah, by former operators, according to the company prose, pectus. Since acquisition by Urainbow, in May of last year, some 30 tons of ore assaying 0.33 per cent uranium oxide have been shipped to the ore buying station. Original exploration for uranium included the drilling of six holes by the A.E.C. with uranium values found to be existent in four of the holes and indicat- ing an ore bearing formation from 18 to 45 feet thick. Depth of this work approximated 105 feet. The exploratory holes now being drilled by the company will be projected to a depth of as much as 900 feet Present activity of the firm is being concentrated in development work and the proving of positive 'ore reserves. In addition to the 14 claims in Mohave County, Urainbow also controls 40 unpatented claims in the San Rafael area of Emery County, Utah; 8 unpatented claims in Kane County, Utah; 12 claims in Emery County, Utah, and 12 claims, known as the Atom Group, in Uintah Coun ty, Utah. and since gold, silver and uranium are among the heaviest, they tend to concentrate together along the bottom of bed rock. Fractures in the bed rock are some times marvelously rich in these minerals. Due to the telltale radioactivity from the associated uranium, these type of deposits can even be detected from the air, and, of course, later pinpointed on foot with the scintillometer. The atomic age prospector carries a scintillometer, side by side with pick and pan, as standard equipment a new twfst to a very old story and one that takes most of the guesswork out of prospecting. PUBLISHED 1955 URANIUM DEP0SIYS MAP 3 to take-o- ff Started Is JUSY EQUIPMENT 50 TONS for Winches or Dump Bodies Drillina Proaram C0L0BAD0 of the PLATEAU BEGI0N 1 U. S. Geological Sirrej Mineral breetlRatlona Map prepares In Cooperation with the U. S. Atomic Energy Commlaelon Air mailed by return maU (1.N Regular mall HAS AEB0GBAPHIC SERVICES. INC. Aerial Photo and Map Information MM O Bt, A E., Waah DAL |