OCR Text |
Show Heep WetetMiHiM fymth t(p With Ml "Ocr U)A 7he - cr H s o C uh)ei) r- - P c: T3 r? O c c etf ifleJt Significance in The Western Mineral Survey, Vol. 26; No. 52 J)n I v the Oil and Mining World ' Salt Lake City. Utah February 17. 1956 .vr Old Bull's Head Mine Being $225,000 Revitalized by Index-Dale- y Work has been started developing the depth of the former Bulls Head property, controlled by the Index Daley Mines Corp., of Spruce Mountain, Nev. Announcement was made today by Charles S. Woodward, 21 So. West Temple Street, Salt Lake City, president and manager of the company. Heavy production of copper, lead, gold and silver was obtained from the old Bulls Head mine from 1870 to 1934, according- to Woodward. He pointed out that three different smelters were built on the "3 is ore production at several mines. property - He said Index Daley1 Mines expects to develop the big fissured syem. A total of seven separate fissures tyiledeveloped at depth. ;; Thus far a 160 foot depth has been achieved, Woodward reports. An extensive diamond drilling program is contemplated along with other development work, he said. . IN EARLY DAYS' These' ruins' were the Star King. Smelter on' Index Daley property at Spruce Mt Nev, 'The' building was built in 1872. !r- - is being moved in and the program forward with cleaning up of the old ' Index Daley has a total of 3,600,000 shares of stock. No stock has been offered the public. An approximation of the share value is calculated at about .09 cents a share, Woodward said. Assets TEXAS, UTAH FIRMS COMBINE ASSETS Ernest C. Fasarras, of American Duchess Oil Co., announced his company lias bought all the assets and properties of Atomic Power Uranium Corp., of Houston, Texas, through the issuance of 1,575,000 shares of American Duchess stock. Acquired in the purchase is Colorado oil production of about $500 net per month; various uranium properties on the Colorado Plateau; approximately $125,000 cash and $25,000 in receivables. The stock ratio of exchange provides that one and shares of Ameri stock Returning from San Francisco be given for each share of Atomic President Harry G. Metos, of Sun Power Uranium stock. Uranium Corp., announced the Earl Robbins, of Houston, Tex., acquisition from the Southern Pa- is president of Atomic Power cific Railroad Co. an additional Co. Uranium .2,500 acres of potential tungsten Stockholders of Atomic Power property which adjoins Suns have approved ".the transaction, tungsten holdings near Groome, but be a waiting period there Utah. 30 of days to brjng books, ac. The property is on a lease bacounts and recorctap to date. sis. ... B. Spencer Youqjjp, Jr., Salt efMaid he had also obtained is vice president. Itke City, aailfoad crossing permit from Psarras estimated the icombined the Southern Pacific, lack of assets two the of will companies which has been holding up Suns to be close American $225,000. tungsten shipments from the Duchess has approximately $110,-00siding seven miles from and Atomic Power approxiGroome.. . .v,, mately $115,000, plus some ns Uranium secretary-treasur- er & Sun Wins Lease, Railroad Permit one-fourt- can-Duche- rail-rqa- d 0, Canadians Bring Out of Bush Beating Bra Science ticized era of the lone prospector Don Mills, Ontario las taken the job of mine seek- operating in the bush on blind ing a long way from the roman- - uck and limited knowledge. Cataract, Sodak To Work Wyo. Acres Jointly A joint ventures working agree- All were run through this to 1934 at the old Bulls Head mine site. COPPER, LEAD, GOLD, SILVER smelter from 1870 RADIORE SIGNS PIONEER TO DRILL ment between Cataract Uranium Corp. and Sodak Uranium Corp., has been approved, it was announced today by H. J. Steel, Phoenix, Ariz., general manager of Cataract. Steel said Sodak will provide for developtechnical know-homent of Cataract properties in Wyoming, where Cataract has 1,600 acres of state leases in the Crooks Gap area, Fremont county. Cataracts 1,600 acres in Wy oming consists of checkerboarded was drilled last summer by Radiore. Pioneer Drilling will bear the expense of further drilling and mining, Downing said, with Radiore retaining a royalty. covered by 'the contract adjoins the producing properties of Royal Uranium and the Moki Allied Meeting Called said it is probable Pioneer Drilling also will underThe property involved, said take exploration and development Radiore President James R. work on ther Indian Creek propDowning, includes eight claims erties owned by Radiore Uranium known as the Golden Girdle Co., Radiore Exploration Co., and group, owned by Radiore, and 240 Bear Head Mountain Uranium acres of S & S ranch land on Corp. which Radiore has leased the mineral rights. The S & S land Downing Allied Oil & Minerals Corp. has mailed notices to stockholdsyndicate, Downing said. ers of the annual meeting SaturDowning said Pioneer Drilling, day, Feb. 25 to elect officers and headed by Joseph F. Constanza transact pending business. of Moab, will start work immedThe will be held in iately. Part meeting 408 Ness Building, Salt Lake City, of the property involved according to Paul Lyons, Sr. Gathered here for the opening of new laboratories and research facilities, members of the mining ratemity had a first hand view of how Canadian techniques have advanced within the last ten years. ceivables. American . . has threat uranium claims in Marysvale, Utah, adjoining property of Corporation of America, upon which management awaits deevlopments. We expect to find some thing very soon, Parras said. Atomic Power has some very good potential uranium properties in Colorado in addition to oil properties in Texas. American Duchess has 1,500,000 shares of stock outstanding. Another 1,000,000 shares is escrowed at Seattle, Wash. Atomic Power has 1,110,000 shares outstanding. Duchess Va-nadiu- m They saw such items of equip- ment as a complete radio transmitting and receiving set which can be lowered 3,000 feet in a. diamond drill hole of diameter to search out ore bodies within a 300-frange, along with the latest in geophysical equipment to be towed over terrain by plane. Late Reports Marble Canyon Uranium Corp. board of directors will meet Friday at the Newhouse Hotel to analyze theii$4rilling and geology program and outline future plans. New geochemical methods of J. D. Herman, managing engineer, seeking ore included soil testing will take part in the discussion. and water testing kits. Bill J. Angelis, Kearns, miner, Sonic devices were used to has an option to purchase 11 zirschool lands. Steel said 2,000 feet check the quality of concrete and conium claims in Garfield County, of drilling is planned on the basis electronic eye to measure smoke Utah for $50,000, payable in cash and royalties. of solid surface indications of density in the atmosphere. The property is being sold by considerable potentials. Peace time mine detectors inKenneth Pratt, Salt Lake City According to Steel, a New York clude a self potential unit which investment banking firm has by recording electrical impulses and William Christensen, Escamade drilling and exploration indicates the existence of deep lante, Utah. The claims are located on the money available to Cataract, for lying ore. venPlateau between EscaKarpowitz and this, subsequent joint lante and Kanab. new and is All the the in to be equipment tures, agreed upon Pratt said the present price of future. wholly Canadian in development zirconium is approximately $14 disclosed announcement and The design. a an sale advance of $4 over pound, Cataract recently completed a is of It produced group by the of 600,000 shares of common stock prevailing $10 last summer. s is Canadian scientists and consultat 50 cents a share. as McPhar GeoVitro Uranium Corp. is conheld by New York Investment ants, organized ' physicists. transactions with the AEC the tinuing genbankers and by extension for of its processing announcemen; eral public, .the The group pioneered in airbom mill in Lake Salt was stock The City, William B. stated. placed prospecting and in 1948 installed Hall, general manager anonunced directly by the company, without on today. page 7) (Continued benefit of underwriters. w Radiore UraMOAB, Utah nium Co. announced here today that Pioneer Drilling Co. of Moab has contracted to develop and mine Radiore holdings totaling 400 acres in the Indian Creek area of San Juan County, Utah. h ss t. Two-third- . ione-thir- d I |