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Show U OF U LIBRARY CITY 1 METAL PRICES 16c Lead (per lb.) Gold (per oz.) $34.9125 24.2c Copper 14M Zinc (per lb.) Silver (per oz.) .83.25c new; mined A Features Alining, Oil, Financial Salt Lake City, October Vol. 23, No. 42 10, 1052 . , . . "''A One Year $2J New Contracts Signed As Mineral Exploration Pays new exploration contracts, of the t 32 approval Announcing J. H. East, Jr., regional director of the Bureau of Mines, said that they provide for the investment of an additional $1,450,000 in the intensive search for new reserves of strategic and critical minerals in Arizona, Colorado, New Mexico, and Utah. Mine operators in these states and Wyoming, now in a stretch drive to beat the winter snowfalls that block access roads and interrupt operations m high mountainous areas, have under way a total of 86 exploration projects to cost an estimated $6,377,000 in private and government funds. Atomic Energy Commission is To encourage the discovery stockpiling uranium ore at Ship-rocand development of additional and Grants in New Mexico domestic ore deposits, explora- against completion next year of tion risks and costs alike are processing plants. shared with the mining properThe Grants purchasing depot ty owners or lessees under this is operated by Anaconda Copper program, supervised by the In- Co. and the one at Shiprock by New activity at properties in the Alta, Utah, mining district recall days of the past when terior Departments Defense American metals fn the state. The' Smelting & Refining this famous camp was one of the major sources of Minerals Exploration Adminis- Co. prolific area is situated just 25 miles southeast of Salt Lake in Little Cottonwood Canyon. tration. Federal aid, representBecause of its relation to the ing $3,610,000 of the total, is atomic bomb, figures on uranrepaid when ore is found and ium production are' classified mined. However, AEC does make pubexplo-ratioResults of the year-ollic marketing locations and program now are becom- prices for ore to stimulate its ing apparent, East sad. Two production. v A promising ore showing has been opened at the property of important discoveries have AECs latest Major Activities West Toledo Mines Company in the Alta Mining District, Utah, been officially certified in this in the Atomic Energy Proit was reported in Salt Lake today. region, one involvng sulphur in grams report states only that The ore streaks were encoun- Wyoming and the other lead receipts of uranium .concenThe Scouting Division of Cartered in a prospecting shaft and zinc in Colorado. Moreover, trates by the AEC from all ter Oil Company, Northwest lowered in an effort to find the nine other operators already sources (foreign and domestic) ore from their Division, has released the folthe first six months of projection of the Brain- fissure have shipped remitted and royalty during which had 'been productive in properties 1952 were according to schedlowing summary of drilling other portions of the area. In payments to the DMEAs Den- ule. ( wells for the past week. conditions surround- ver office. An additional 15 opThe explaining states ore that proreport ore G. E. Houston No. 1 (located ing the new development com- erators have encountered but cessing plants on the Colorado in the Roosevelt Pool in the SE were enlarged during pany officials released the fol- during their explorations, de- plateau GR elevation lowing information to stock- have not yet started mine re- the period and that further exSW, Sec. velopment, shipments, and Cornelius F. Kelley, chairman holders: 5523 feet, total depth 10, 142 feet. pansion is planned. New ore payments. are There three overthrust buying stations contemplated inCore '9, between 10,085-14feet, of the board of Anaconda Copis of ore this Some marginal ore cluded locations at Greenriver, per Mining Company, has an- faults in Alta and the large recovered 57 feet. A drill-steEast some and good grade, bodies in the old mines were Utah, and near Edgmont, South test at 9940 feet failed. Crews nounced the completion of the found said. In either case, the explo- Dakota. intersection at of the feet, with organization of its subsidiary, perforated at 9700-5fissures wtith two of the ration work is demonstrating The depots at Grants and 6 shots per foot Swabbing. Anaconda Aluminum Company overthrusts. Smaller ore bodies, once again that we still have Shiprock are the only ones in H. A. Peterson No. 1 (located Machine Co., of course, were found in the undiscovered reserves of the their general area available to Total (formerly Harvey in SW SW, Sec. vital to producers, AEC informed The Inc. of Montana). Mr. Francis limestone areas and under other metals and mineral so The ore Oil News. national our depth 10,276 feet Pumped 138 O. security. conditions. Case, who is a vice president barrels of oil in 9 hours, cut .4 be found and must To stimulate production, the The Brain Fissure is the is there. It per cent mud- - Pumped 238 bar- of Anaconda Copper Mining strongest fissure in Alta and developed, for far more is need- government under the Federal essen- Aid rels oil in 16 hours (37 barrels Company, has been elected pres- extends old Emma ed both for defense and Highway Act built 783 the from .6 cent cut How- miles of ' access roads per load, rest new) ident of Anaconda Aluminum Mine through the Columbus tial civilian purposes. costing and water. basic sediment that it governever, appears announcand $4,200,000 Of Wanearly Consolidated Mines the Pumped 157 barrels oil in 11.5 Company. Mines satch into the ment financial assistance now is ed plans for more. Bonus payCompany .2 water cent and aluminum cut reduction The hours, per Mr. . Jacobson, necessary to encourage any ments for initial production so West Toledo. .4 per cent basic sediment. plant will be built near Columwidespread exploration and de- far have totaled $600,000 since is who in the oldest operator Teaof at base bia Crews testing. the Falls, particularly among the bonus arrangement was anAlta, says that the production velopment, Flathead kettle in 1 Mountain, individuals No. and small operat- nounced in 1951. Smith (Flat Joseph from the Brain Fissure in the ors. Mesa wildcat well, located in County, Mont. Two potlines As now established, the bonus is estimated at approxicenter of SE SE, Sec. together with accessory build- past the under Minerals provides for double payment for sought $5,000,000.00. Drill-ste2 ings and equipment, capable of mately intests 16, at contracts initial production. The West Toledo joins the recently signed feet, open two hours, recovered producing 50,000 tons of alumi- Columbus Consolidated on the clude lead, zinc, tungsten, copInquiries on ore marketing in 4100 feet fluid, 40 feet of slight- num, annually, will be installed. west and a great part of the per, platinum, uranium, beryl, the Southwest should be made oil-cConstruction preliminaries on third or lower mud; 90 feet ly gas-an- d overthrust lies mica, tantalum, and cobalt, East of United States Atomic Enei of fluid 50 per cent oil and 50 the $45,000,000 project were be- in West Toledo property and said. The government's share gy Commission, P.O. Box 270, per cent mud; 120. feet of clean gun soon after the announce- has never been prospected. The of the project cost ranges from Grand Junction, Colo. Continued on Page 2 oil, .40 point gravity and 80 de- ment on Sept 3 that the Anacon- Brain Fissure was projected to arhad of 3850 feet da interests completed gree this overthrust and the West FINE WIRE water. Drilling at 7930 feet. rangements to obtain alumina Toledo on company account Microscopically fine wire for the operation from Rey- sunk a ... Elmer Moon No. 1 (Antelope shaft through prospecting made of pure nickel is used for wildcat well located 50 feet east nolds Metals Company. The the overburden, looking for the the vacof Total deposits of all insured uum grids of the center of SW SE, Sec. project will be financed by the Brain Fissure. At a depth of tubes in used aids. hearing 9 Anaconda Company. Core No. 30 at about ten feet oxidized material banks increased 7 per cent dur- The which is made of wire, feet, recovered 54 Core 31, At present, bulldozers are was found in a fissure which is ing the year ended June 30, nickel because of this materials at 8P29-7- 5 feet, recovered 46 feet working in the area; the Great believed to be the Brain Fis- 1952, Chairman Maple T. Harl electrical characteristics, ducCore 32, at feet, recov- Northern Railway is laying a sure, and at a greater depth, of the Federal Deposit Insurand tility Drilled to 8246 spur to the plantsite; a tempo- streaks of copper silver ore are ance Corporation announced to- finer than a strength, is much ered 37 feet. human hair. feet, set 7inch casing at 6618 rary power line is being in- now being found, the last assay day. However, the total of $177 was feet with 150 sections. Total stalled; soil borings are being of which was appoximately 57 billion deposits at PALLADIUM FOR taken for foundation informa- ounces of silver and 14 per cent about $2 billion less than at the depth 8246 feet. reflectPROTECTION of the year, Orlan L Johnson No. 1 tion, and engineering work is in copper, with values in lead and beginning durdecline the customary Palladium, the newest rare (Walker Hollow wildcat well progress. The plant is sched- gold. This is not yet profitable, ing metal in the jewelry field, is uled for completion early in but this could be the top of an ing that period. located in SW SW, Sec. Drill-stetest No. 2, be- 1954, and will start producing undiscovered ore body. Changes in the amounts of named for Pallas Athena, the com4400-2is 2 assets of intention the the aluminum shortly thereafter. It tween paralleled those in de- Greek goddess of protection. feet, open s to Will be sup- pany continue work either on posits. On June 30, 1952, assets Many brides have chosen their hours, recovered 800 feet of Power for t sulphur water. plied from the nearby Hungry company account or on a favor- of all insured banks totaled $193 wedding bands of this metal slightly r because the symbolism implies deal with billion, the largest Total depth 4423 feet. Crews Horse Dam through the Bonne- able on Administration. total record miners. ville Power ahead. to drill protection for their marriage. responsible preparing Uranium 1 4 At Shiprock 1 ( I r k non-ferro- us West Toledo Has Promising Development At Alta Mine Drills Push Deeper In Basin Area Construction Of Aluminum Unit To Start u d - 18-1S-1- 2 m , . ore-beari- 0 10-1S-1- f 7752-787- m i ut pour-poin- t; Insured Banks . sub-miniatu- i 7975-802- if i 8075-811- 4 mid-195- 2 m 3 . ! ( ' pot-line- gas-cu- mid-yea- profit-sharin- g . t 4 re |