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Show urn OP u LIBRARY CITY J-- 1 ' METAL PRICES Lead (per lb.) Gold (per oz.) Salt Lake City, December. . N Silver (per oz.) new mined 12, 1952 Drilling In Basin Area Gets Results Small operators near the Hub Basin county are interested in the new ore mill now in operation at the old Goodie Ranch owned by the Kraham Development company, in Spring Valley, 35 miles east of Ely. A group of six California operators have established a mill at the old mill site in Spring Valley with new and modern equipment. The operators are Nate Lockhart, mining engineer and associates of Redlands, Calif, who have several operating mills in the mining industry through-- i out California and Nevada. Curtis . Chance of Memet, Calif., is man-age- r of operations here. The group has its project near completion and has a metal bunker, and diesel power plant They are. using the late model Dun-Jhaeconomy concentrating tables, and a newly created 'crusher along with their classi-.fie- r which they claim it possible to save 96 per cent of the mineral that goes through their mill. Tungsten potential in the locality is very encouraging, states Mr. Chance. He says the ore is not of a high grade, as is found in some places, but that e there is an abundance of section. in that tungsten The Californians started the construction of their project eight weeks ago and are now ready to do custom milling. The Scouting Division of the Carter Oil Company, North-- , west Division, has released the following summary of drilling wells for the1 week. GJB. Houston No. 1 (located in SE SW, Sec. Total 10,142 feet, depth plugged back to 9760 feet. 5 inch liner at 9750-10- , 131 feet; 7 inch liner at 9804. Well shut in. Moving Nev. low-grad- - Ceiling Prices On Chromium Moved Higher out rotary tools. H. A. Peterson No. high-carbo- n low-carbo- Whitlock-TayIo- Comprehensive development work at properties controlled by Commonwealth Lead Mining .Company at Melrose, Madison County, Montana, is resulting in interesting ore discoveries. Shown above are the surface workings at the collar of the exploratory incline shaft. Commonwealth Lead Opens Prominent New Ore Show Western Mine Promising An exciting new ore show was cut last week during the Commonwealth Lead development work at the property Leader Dies ing Company, according to information released in Salt today. 16-3S-5- of $55,814, equivalent to nine cents a share, as against earnings of $17,883, or 29 cents a share in the same period of last year. of - The ore was cut in RENO, Nevada Henry Macon Rives, native Nevadan and prominent figure in the states mining industry, died Monday at a local hospital. He was 69 years of age. In 1905 Mr. Rives joined a par-t- y of the U. S. Geological Survey on an expedition over the White Mountains into Tonopah and Goldfield districts. Later he became an employe of .the Pittsburgh Silver Peak, gold mining company which had extensive holdings in the Blair district of. Esmeralda County. He later resigned that post to become secretary of the Nevada Mine Operators Association. Mr. Rives also was secretary of the American Gold Conference and the Silver conference and served as a member of the board of governors of the western division of the American Mining Congress. He was also secretary of the American Silver Producers Association,' Nevada chapter of the American Institute of Mining and Metallurgical Engineers, and Reno Lodge No. 597, B. P. The new; publication, compiled in-co- m Re-ra- n course of . Com- No. 1 (locat- ed in NW SW, Sec Crews drilling at 5522 feet Joseph Smith No. 1 (Flat Mesa, wildcat well, located in Center of SE SE, Sec. Total depth 9103 feet; liner at 8913 feet, plugged back depth 8864 feet. On Nov. 19, attest with tempted drill-stepacker at 8805 feet, packer failed. test with packer. at 877 feet to test perforations at 8835 feet; open 9 hours 45 s. Gas to surface in 1 hours, burned with flame. Ran swab to 7600 feet, recovered no fluid. Shut in 45 minutes. Pulled test tool. Recovered 117 feet of heavily oil and gas-cu- t drilling fluid. Perforated between 8820450 feet with 4 perforations ch Mines. third-quarte- r ch 24-1S-1- - Butte Copper and Zinc r pany reports a (located 10-1S-1- Pan-Americ- an chrome-manganese-silic-on 1 in SW SW, Sec liner at 9887 feet Total depth 10,276 feet. Shut down for repairs to pulling unit Ceiling prices of ferrochrome and other chromium products were raised this week in an effort to encourage increased production for the defense effort. Price boosts of three cents a products pound for n and four cents a pound for on the products, based amount of chromium contained, were announced Monday by the Office of Price Stabilization. The higher ceilings are not expected to have any important effect on manufacturing costs or living costs, OPS officials said, but they will increase the cost of producing goods for defense. The ceilings apply to ferrochrome, ferrochrome silicon, ferrosilion chrome, alloys and chromium metal. There are only five 0. E. producers of these products in the .United States. Ferrochromium is used in pro- California Bureau ducing heavy guns, tank armor and tool steels, and is a basic Issues Mining Guide ingredient in jet alloys and stainless steels used in the manLos Angeles- Calif. A new ufacture of aircraft. Chromium guide to mining laws of CaliIs an important substitute for fornia' for use by prospectors scarce alloying elements, such and miners has recently been as nickel and molybdenum. issued by the State Division of Butte Copper .83.25c One Year $2.50 m . 24.2c 12.5c Zinc, (per lb.) New Tungsten Mill Aids Small Miners Ely, 434.9125 Copper Features Mining, Oil, Financial Vol. 23, No. 50 ...14.5c More Venture Capital Need Of U. S. Mines non-ferro- us under present taxation and other restrictions on freedom? The answer was no in every case but one, and that case had been a bonanza so rich as to defy even the tax collector; By stimulated scientific research and invention looking to new engineering methods we can reduce costs and thus do something' to aid this industry. It would be cheaper than government subsidies. The same problems apply to under the direction of L. A. Norman Jr., deals with the manner of locating and holding mineral claims, mineral patents, State and Federal lands, water other industries where venture rights and water pollution reg- capital and plowing in are their Hoover ulations, safety regulations and characteristics, gold-buyin- g rules. t.aVp the process of sinking an incline shaft on properties located near Melrose Madison County, Montana. Mr. J. F. Featherstone, presi- min-ute- ot per foot Set feet Well shut liner at 9103 in. Dismantling dent of the company, stated totools. rotary day that samples taken from the .Elmer Moon No. 1 new ore showing would approxi- wildcat well located 50 (Antelope feet east mate 42.9 ounces of silver and of center of SW SE. Sec Total depth 6571 feet plug58.4 per cent lead to the ton. back 8246 feet with ged The encountered ore was in liner at 6618 feet. GE 5528, Rkb a bedding some four feet deep 5539 feet. Kobe equipment and with the high grade averaging lease lines completed. Well optwo feet. One truckload of ore ened Nov. & token from the new ore showOrian L. Johnson No. l (Walking will have returns of around er Hollow wildcat well. located $1500, Mr. Featherstone estimat- in SW SWi, Sec. Total ed. depth 5667 feet. Testing. The new ore showing was cut Gloria Bamburger No. 1 locatin a new incline shaft at an ed in SW NE, Sec approximate depth of 430 feet Elevation 5565.7 feet Supdded from the surface. Present plans Nov. 20, 1952. 10 inch pipe set call for the continuance of the at 522 feet with 230 sections. Toincline depth of 500 feet, from tal depth 1020 feet. Drilling. which level a lateral will be projected in an effort to under-cu-t a lower extension of the newly Higher Output Of Molybdenum opened ore showing. Commonwealth Lead Mining Requested by DPA Company has offices in the Felt Washington, D. C. The DeBuilding, Salt Lake City and fense Production, a U. S. stock of the compaqy Is listed bureau, has set a new expansion on the Salt Lake Stock and Mingoal for molybdenum of 70,000,-00- 0 ing Exchange. pounds of domestic produc- Portland, Ore. Herbert Hoover at the recent Northwest Engineering Oenten-nla-d at Portland, made the statement that industry is fpunded wholly on venture capital and the plowing in of profits until a mine is equipped and producing. Today such venture capital from individuals is itself undermined and taxation prevents the necessary plowing in. That is not theory; it is a fact. Twenty years ago there were about 3,000 operating metal mines in the Rocky Mountain states. Today there are only a few more than 1,000. I recently made a canvass of the operators of many of the large mines which were developed in a more favorable economic climate. I asked a simple ques-tio- n iCould this enterprise have New ever been developed and equip-pe-r For Ex-preside- nt Min- ch , tion during. 1954. The revised goal will permit Oil Refininery an increase of 41.5 million Pacific Northwest pounds annually over the 28.5 million pounds produced in 1950. Bellingham, Wash. General Pe- Last January, the D.P.A. set its troleum Corp., West Coast sub- original annual production as of Oil the beginning of 1955. The figsidiary of Socony-Vacuuures are all in terms of molybCo., Inc., will build a $35 mildenum content of ores and conlion oil refinery in the Pacific centrates. The D.P.A. said practically the Northwest near Femdale, on hew increase in supply is entire Puget Sound, 12 miles northwest of Bellingham and 12 miles already covered by contracts made by the government with south of the Canadian border! producers. The refinery, to be completed The principal use of molybdelate in 1954, will process Cana- num is in alloy steels, which it dian crude oil brought by pipe- strengthens and makes resistant line from Alberta. It will em- to corrosion at high temperatures. These alloys have ploy 350 and have a $2 million military uses, such as in many jet annual -- - m : payroll. |