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Show i LIBRARY u. OF U CITY I 1 4 METAL PRICES 13.5c Lead (per lb.) Gold (per oz.)$34.9125 24.2c Copper 14 Zinc (per lb.) Silver (per oz.) .83.25c new mined i j . Features Mining, Oil, Financial Vol. 23, No. 47 Salt Lake City, November Tonopah Site Of Promising Ore Discovery - Making Aluminum Cable at Copper Plant - With almost recently discov ered Summit King ore body now explored at the level, miners believe a major mining operation is in the making. Prom the point of entry, the vein has now. been probed 130 feet to the west and 67 feet east, and the ore is still holding in both directions, it is said. We have reason to believe that we are sitting astride a large body of ore that should go to considerable depth, Frank Kennicott, silperintendent, said this week. Sufficient progress has already been made to virtually assure. the construction of a new main working shaft, probably with three compartments, and the erection of a mill.. Work on these major projects will probably have to await the coming of spring, but underground development will continue without, letup. The heart of the vein stretches across some 110 feet, Kennicott said, averaging a good four and five feet in width with high values. The balance of the ore body explored thus far is generally narrower, but the ore is definitely of milling quality. To the exploration program, a contract has been let to George Irwin and Joe Chism, both of Hawthorne. A churn drill is i-- ot New Methods . i ' n punching a ventilation hole toward the center of un-- f derground activity. Engineer Ira Joralemon, pres--j ident of Summit King and a di-- ; rector of the Homestake Mining Co.,- the two concerns participating jointly in the Tonopah venture, expressed himself as well pleased with developments. He said that plans are now be-- j ing formulated to both .sink and raise on the ore body as soon as its overall length has been determined. Summit King is a subsidiary of Bralorne Mines, Ltd., of Canada. Geologists who have looked over the Summit King strike have been more than pleased with its limitless possibilities, observing that it seems to be in the rght formation, with everything in place. v j v 10-in- ch - j - ':5 Is j i I - , ij a Huge Deal Made On Bagdad Mine i Washington, D. C. The f j i ; - . at : j ' j i J 5 .j y gov- ernment announced Mondajf it has guaranteed the Bagdad Cop-- i per Corporation of Bagdad, Ariz., a market for up to 27 million pounds of copper a year, As part of the arrangements, the company will spend about ments and expansion of facili-tie- Falls, Montana, ATmilltheof Great Anaconda Wire & Cable machines Company, which once produced copper wire and cable products exclusively are also now turning out aluminum conductors. This machine is cabling a stranded aluminum conductor. Copper cables on reels are shown in background. Increased production of conductors made of both metals is expected here. The Greater Butte (Mont.) copper project of Anaconda Copper Mining Company, the parent organization, is now yielding over 6,000 tons of ore daily. By steel-reinforc- ed s Bagdad. The companys present annual capacity is 20, million pounds of recoverable copper contained in concentrates be-ing shipped to El Paso for smelting and refining. After completion of the ex pansion, the company will hae facilities with annual' produc- tive capacity of '35. million Utilized At Clayton Mine the end of the year, it will be producing at the rate of 10,000 tons daily. This output will be increased as rapidly as possible to an eventual yield of 15,000 tons of ore per day, thus augmenting the normal copper supply of Butte mines by an additional 90,000,000 pounds of refined copper yearly. Construction preliminaries are under way on Anaconda's $45,000,-00- 0 primary aluminum plant at Columbia Falls, Montana. The two. pot-lin- e plant, with an estimated capacity of 50,000 tons of aluminum per year is scheduled for completion early in 1954. Silver Shield Rico Reports Plans Work at Profit For 1952 Period Ouray Mill are-bein- The Ouray HerOperations of Rico Argentine ald learns it is the intention of Mining Company, for the 1952 the Silver Shield Company to period ending Aug. 31; resulted in a profit of $252,652 before start its mill, recently completprovisions for depletion of $123,-90a mile a of and half north ed, Gross income amounted to town, to handle custom milling of ore from this territory. Louie $840,954 derived chiefly from E. Stein, secretary, who was in the sale of lead and zinc concenOuray from Salt Lake City, trates. Deductions for federal and made this statement. It is indicated that the Silver Shield state income taxes before the mill will be in full operation profit figure amounted to $139,-20during the early months of 1953. Directors of the company have While ' nothing official has been announced as to the dis- declared a dividend of ten cents posal of the mill of the Amer- per share on the 879,945 outican Zinc, Lead & Smelting Co. standing shares of the firm payto close down because of the able on Dec. 2, 1952, to stockdrop in lead and zinc prices, it holders of record as of Nov. 28, is understood that with the re- 1952. tirement of the company from Rico Argentine Mining Comthis field, the mill will be dis- pany operates a mine and mill mantled and moved. The mill at Rico, Dolores Cbnuty, Colo. was closed, down with the an- Stock of the company is listed nouncement of the companys on the Salt Lajke Stock and decision to abandon this terri- Mining Exchange. tory. Unless a mill can be put into operation here, it will necessitate the closing down of many Buffalo, Oct. 25 Top managesmall properties that have been Inc., depending on the American ment of Hewitt-Robin- s, Zinc for processing their ore. joined with employees and pubEvery effort should be made lic officials this week to dedto either retain the Banner million-dolladdition American or get the Silver icate a Shield in operation on custom to the companys conveyor belt work. plant here. More than 2000 employees pounds of electrolytically re- and their families, along with fined copper and 12 million Mayor Joseph Mruk of Buffalo pounds of recoverable copper and. Congressman Edmund P. contained in precipitates. Radwan of the 41st District, atThe government guaranteed the company 24.5 cents a pound tended the open house and f.o.b. middle western markets dedication. The program confor up to 27 million pounds of sisted of speeches, the unveilcopper a year for eight years, ing of a plaque, a tour of the and agreed to buy 940,000 companys industrial rubber pounds of molybdenum a year at 60 cents a pound for the min- products plant and eral contained in concentrates. Ouray, Colo. -- 0. 0. Equipment News $14 million on major improve- - ; . ing one hundred milion dolliston Basin- is an oilmans lars a year in the Williston Ba80 cent of Land of Promise which five sin and aboutarea isper now under the potential years from now may produce. lease, he added. 100,000 barrels of oil a day. The new oil land has strategic The Basin has all the require- importance beacuse of its geoments of a good oil province-am- ple graphical location almost equipetroleum stratigraphy, distant from the big markets of structure that can be developed the Midwest and Pacific Northby conventional exploration and west, Bowlby stated. drilling methods, and reservoirs with ample signs of petroleum accumulation. This evaluation of Americas newest oil frontier was delivered here today by Samuel F. Bowlby, vice president of the Shell Oil Company. Bowlby, who directs his companys exploration and production work in the Pacific Coast and Rocky Mountain regions, Clayton Silver Mines has readdressed members of the Diintroduced some new vision of Production of the cently American Petroleum Institute mining methods in an effort to on the Significance of the Wil- reduce costs at its property in liston Basin at an afternoon the Bayhorse district of Custer session at the Hilton Hotel. County, according to Norman In his talk at the APIs 32nd Smith, directing engineer. annual meeting, Bowlby deWithin the past 30 days a scribed the Williston area as the of long-hol- e drilling has largest basin of sedimentary system deposition favorable to the ac- been' instituted in the stopes cumulation of oil in the North above the 400 level, he said. American continent Holes 40 to 50 feet in length Contradicting oilmen who drilled in the remaining feared oil would be difficult to pillar of ore, constituting about remove from this area, Bowlby 18,000 tons, above that leveL said the "Williston Basin re- Plans are to drill the entire area sponds well to the customary before any blasting is done. exploration tools, and actual When blasting is started, it will drilling conditions are not un- bring the ore down about 2000 usual nor overly difficult tons at a time. Formerly five However, he confirmed that to six-foholes were drilled there are factors which may re- and the ore blasted down in tard development of this new small batches. oil province. Another in mining proClimatic conditions are rig- cedure haschange involved the driving orous, and in winter when the of a new haulage crosscut on temperature may reach 40 de- the 400 level along the entire grees below zero operations length of the fiorth ore body are being carried out sometimes in the hard ground about 30 with great difficulty. feet from the ore.. This new The area is sparsely popu- tunnel is nearly completed, lated with but few large towns Smith said. Short crosscuts inin which to headquarter. These to the ore from this haulageway have inadequate facilities to will now be driven at intermeet the tremendous burden vals and ore pillars above the imposed on them by the rapid present footwall and hanging-wa- ll drifts will be blasted down growth of the industrys operations. Consequently, there onto the floor of these crossare few supply points, and cuts. The ore will then be transportation and communica- picked up with a mucking mation are more difficult than in chine. most other places in the United This system will eliminate the States. need for maintenance of the All this leads to higher than timbered drifts and ore shoots, normal operating costs. But . . . and will make available ore these costs decrease as experi- which is now left in supporting ence and know-hoincrease. pillars, Smith said. It is planned So aside from the climatic con- to use the system entirely on ditions . . . our experience here the new 550 level when it is seems to be no different than in opened. early stages of many another It is expected that developprovince. ment work on the new lower Since the first successful well level will be started this winter, in the United States portion of he stated. A station, pocket and the Williston Basin was dis- sump must be cut before crosscovered in April of 1951, there toward the ore bodies have been 75 wildcats drilled on cutting can he started. our side of the basin, resulting The company is now operatin 13 discoveries. Bowlby noted mill six days ing that this is a success ratio of a its mine aand crew of about full with week one producing well out of six 18 men employed, and will conattempts, as compared with one on this basis as long as in nine for the naton as a whole. tinue base metal prices permit, he At present there are 80 drill- said. Ore reserves above the 400 ing rigs, 120 seimlc crews, and level are sufficient for five a total of 6500 oil industry emyears operation at mill capacity ployes in the area, Bowlby re- of 90 tons per day. There are ported. three years of brdken ore in The industry is now spend the stopes. CHICAGO, Nov. 14 The Wil- Tonopah, Nev. ;? v.1- Williston Basin Proving New Potential Oil Source 200 fe6t of the 300-fo- One Year $2.50 14, 1953 ar . r ot w oil-produc- ing g |