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Show September 2, 1955 The Western Mineral Survey, Salt Lake City, Utah Page Three Five Companies Join, Form Northwest lan Search 3f Idaho, Vash., Area Five mining companies have oined forces to conduct a large SULLIVAN MINING CO., scale uranium exploration proointly owned by Hecla and gram in northern Idaho and Bunker Hill, showed a big first northeastern Washington. A Utah lalf improvement in earnings company is conducting explora302,658 vc. 161,428 a year ago. tion. Total income was up to $10,306,-07- 3 According to J. E. Scott, presifrom $7,238,158. dent of the newly formed NorthIIECLA MINING CO. Reported west Uranium Mines, Inc., the a first half net income of $139,-67- 3 vs. $157,112 last year . . . The companies include Fortune Minsubsidiary POLARIS listed a ng Corp., Silver Buckle, PathEastern Lead 1246,709 net against $352,491. Div-den- finder Uranium, and Corp., Stansbury & Associheld at $229,699 in both ates. periods. SUNSHINE MINING CO. deOver 100,000 acres have been clared a regular quarterly divi- acquired in the Idaho and Wash-into- n dend of 15c a share payable Sept. area, Scott said. Much of 30 to stock of record Sept. 1. The he acreage is near the Midnite 11223,323 disbursement will boost Mine of Newmont Mining Co., he firm's dividend total to about and other land lies near Dahl ; QUOTE OF TOE WEEK: I wish I had a nice uranium mine of my own. Senator Anedrson (D., N.M.). Tins BULLISH STATEMENT was made by the chairman of the Senate-Hous- e Atomic Energy Committee upon his return from e the Geneva Conference where there was disturbing talk of harnessing the H. bomb for power. He said the nations booming uranium industry need have no fear that use of the metal will drop off because of new atomic energy developments. Harnessing the involves extreme difficulties, and there is no guarantee of eventual success, he said. Even if it does prove feasible, there will be $34,000,000. plenty of room for both, he MORNING SUN URANIUM added. stockholders okayed a merger alA DEPARTMENT FOR MIN-ERA- L ready approved by owners of to INDUSTRIES with a sec- Daybreak Uranium, subject on getting a lease retory of full cabinet rank was doming Suns near the Midnite land promised called for by the dean of Washon the Spokane mine uranium ington State College School of . . . DAYReservation Indian Mines at a meeting of the North10th railroad its loaded BREAK west Mining Association and the its initial Spokane Chamber of Commerce car, completing AEC contract for 500 Mining Bureau. He said the conn. official try roes not have an adequate tons of uranium ore. An Junction, Colo., to program to meet the great future left for GrandAEC new a seek purchase con-tracdemand for minerals by our exfor Daybreak and an initial panding population. The Amerione for Morning Sun. He also can people and their elected representatives must be made aware planned to urge an AEC uranium station in the Spokane of the equal importance and insaid He area. Daybreak can mine terdependence of the agriculcars by 40 additional least at tural and mineral industries, he not casts, t open-piMinng mining. said. been have ore hauling, Including A COMMITTEE from about $1.50 a ton. METROPOLITAN MINES has mining states is working on proa for new posals minerals policy opened a foce of mill feed lead-zin- c to be presented by westprogram in driving a drift for a raise ern governors at the next session in the reopened Black Bear mine of Congress. near Wallace . . . HIGHLAND SURPRISE is reported to have COPPER was boosted to 43c a per cent lead-zin- c 320,000 tons of 14 pound by Anaconda, one week one vein at its new ore in after the price went from 36c to near Sun Valley, Ida. 40c. Coeur dAlene (Iraho) dis- property FLASH!! Grand Junction . . . trict silver producers, who turn AEC just okehed shipment of 20 out copper as a byprodu-ct- , cars from Daybreak and 25 cars should benefit. from Morning Sun. GOLCONDA LEAD MINES enjoyed the best first half in the companys history. Oper-atinincome included .$11,000 OH dividend payment on their block of 110,000 Lucky Friday stock totaled $103,335 vs. $60,344 a Assets of major oil companies year ago. In addition, Golconda is soared negotiating for an exclusive pros- of the United States, have in the past pecting permit on the Spokane to fantastic heights a five perusal of recent years, Indian Reservation. Exploratory statistical reports dislosed. work has already been done. Gol Standard Oil Company with conda will then become a neighbor of Newmonts Midnite opera' cash totaling $1,275,000,000, assets of tion. Morning Sun and Daybreak of $2,625,000,333 and liabilities of the are also interested in this area. $1,103,000 is the wealthiest SUNSHINE CONSOLIDATED oil group. Gulf Oil shows $379,000,00( also enjoyed a booming first six and months Gross ore sales totaled cash, assets of $744,000,000 of $352,000,000. $210,156 for a net of $80,307 vs. liabilities has only $28,000, Oil Skelly net a of sales of $102,920 and only 000 cadi, $72,500,000 assets and $$2$$$,607 last year. $28,000,000 in liabilities. City Service with $214,800,0000 in cash, shows assets of $411,700,-00N.M. Tops List and liabilities of $96,250,000 In Molybdenum Texas Co. has $246,250,000 cash, Add molybdenum to the list of assets of $642,000,000 and liabilminerals produced that gives ities of $167,900,000. New Mexico a top spot in the Philipps Petroleum Corp. has nations mining picture. $88,000,000 in cash, assets o' The state is second in Molyb $261, 500,000 and liabilities of deum producing in the country, $110,900,000. Sun Oil Company has $31,900,-00- 0 although it has only one molyb Co. of cash, $144,500,000 assets and denum mine, Molybdenum of $63,250,000 liabilities. America, six miles south Continental Oil Corp. has total Questo in Taos county, operated since 1923 and now employing cash of $70,300,000, assets of $98, 400,000 and $63,300,000 liabilities. 56 men. to one Pure Oil Co. has $31,300,00 the addition in However, is large production cash, assets of $132,000,000 ant mine, there liabilities of $43,000,000. as a copper mine Atoms-for-Peac- ds H-bo- au t ore-buyi- ng 33-MA- N 27-ye- ar Jump In Assets Noted by-produ- Daybreak Uranium Co. The area is being explored by personnel and ground crews under the supervision of New Park Mining Co., Salt Lake kffine, air-born- e MOUNTAIN SETTING Park Konold site in Plumas County. The company is working the property jointly with Northwest Uranium Cor. The shaft is to be finished in 60 days. Additional information will be available then. City. In three weeks operations time the company reported 18 were examined. Three of these, Scott reports, look one favorable and assays .20 very cent on surface the without per excavation any having been done. ano-moli- Uranium Oxide Discovery-Yield$1,000 Ton Ore es Scott estimates it will take more than two years to fly the 2,000,000 acre now planned to explore by air. California Men To Check Elaterite Basin Empire Mines Corp., Grass Valley, Calif., is sending a crew of geologists here today, prepara- tory to launching an exploratory program on properties of Elaterite Basin Uranium Corp. Announcement was made today by Jay Walters, Jr., president of Elaterite. The crew, directed by H. R. Fitzpatrick, general manager of Empire Mines, will assemble Sept. 3 at Book Cliff Motel, Green River. They plan an ex tended stay on the Elaterite claims, Walters said. Walters declared that an ore strike on the Dinosaur claims of Elaterite has been discovered and will be worked. He also said Elaterite plans to build a mill on the Hertz and Green veins, where he estimates $5,000,000 worth of milling ore The firm, which plans to its offices to Denver next month, has done very little exploration other than surface work, Morris said Drilling is planned immediate- Survey Denver Bureau DENVER The Uranium Oxide Producers, Inc., New York City, announces a rich strike south of West Cliff, Greenhorn Mountain, Colo. . President Joseph Morris said move ly. the outcropping is 500 feet long, assaying at 16.77 per cent U-- 3 0-and 4.78 per cent 3 Estimates are $1,000 per ton. U-- 8 s 0-- 8. The firm has other interests in Utah, Morris said. Total uranium oxide properties in Utah and Colorado, he said are 24. This is neither an offer to sell nor a solicitation to purchase the stock described below; such offerng is made only by means of the offering circular TRIANGLE URANIUM CORP. Nevada Corporation) (A Public Offering - 5,000,000 Shares Common Stock Ic Par Value Offering Price - 5c Per Share Non-Assessab- le WEBER INVESTMENT COMPANY Ogden, Utah 2434 Kiesel Avenue Telephone 33 MAIL COUPON TOR OFFERING CIRCULAR Please send Offering Circular on Triangle Uranium Corporation to: Address State ...... City lies. WE ANNOUNCE The New Location of Our Saif Lake Offices In THE FIRST SECURITY BUILDING MORGAN & CO. Investment Securities Phones Suite 858 ' TWX SU-292- X 91, |