Show Texas Gulf ulf Prepares to Sink Pilot Hole at Cane Creek Texas Gulf Sulphur is preparIng preparing preparing ing to sink a pilot hole at nt the Cane Cune Creek potash properties south of Moab it was learned I this week I I The renewal of field work 1 Isone It Is one of or many indications that action on the proposed mine and mill can be expected C in the near future According to reliable re- re 1 I liable sources the pilot hole will vill take n a seven and seven-eights seven I inch core from surface Several locations are arc still being studied No action has been taken by bythe the Texas Gulf Sulphur board of directors although recent announcements announcements an an- indicate they willbe will willbe be submitted favorable reports by President Claude O. O Stephens and Vice President In charge of I I exploration Dr C. C F F. Fogerty Chairman the the Texas Gulf GulfI board of directors Fred M. M Nelson is in Moab today and I has his visited the site of the proposed proposed pro posed project Governor George Gcorge D. D Clyde Inan in inan an nn interview Saturday in Salt Lake City evinced high interest in the potash development and pleasure in the tile progress being shown Governor Clyde who appeared ap op well informed on the development de de- de intimated that the tha State Is 19 anxious to get started on a n road into the area for openIng opening opening open open- ing of the State Park area at D Dead Dad ad Horse Point and service to the new Industry Mining leaders in Utah are closely following the development development develop develop- ment merit also judging from the prominence prominence prominence pro pro- of potash in Salt Lake discussions Tribune business columnist columnist columnist co co- co- co Bob Bernick and others cited cite three Items Hems in the recent revelation by Texas Gulf Sulphurs Sulphur's Sulphur's Sulphurs Sul Sal president Claude Stephens Ste Ste. as being especially signi sign The opinion was that statement regarding the magnitude magnitude magnitude magni magni- tude of the project market confidence confidence confidence con con- and financing would throw a scare into much of the potash industry With tho the largest tons per day plant in the industry the high grade of If ore a market established established established through previous sulphur operations and financing with within vin In the pocket funds Texas Gulf Sulphur would find itself in good position to attract buyers buyers buyers buy buy- ers even at this early date By comparison potash developments developments devel devet- In Canada encountering encounter encounter- ing development difficulties that are a financial drain and facing lacing the prospect of creating a market market market mar mar- ket must be taking note of or the i Utah development |