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Show Features Mining , Oil , Financial VOL. 24. NO. 49, Salt Lake City, Utah, December 4, Big HIU xBrletel xBmUlea x Card Iff tention was focused on uranium-ric- h San Juan county of southeastern Utah again this week with the announcement by Coeur dAlene Silver Giant, Inc., of Kellogg that it has acquired an interest in a property in Indian district. the countys Big It was just two weeks ago that 30-clai- Last Sale Ueki OH A A4 Mac. SUver Central Btd. xChlcf Coal. AS AS AS Colb. Soul xComblned Me tala xComet CeaTa . AT . At .... ..... xCommonwIth Lead xCons. Eareka Creaeeat Earle Oil xCroff OU Crewe Pelat xDragon E Crown Point .18 AS ... . xEmpire Mines : A Eareka Bullion xEnreka Lilly Con. ... Silver Buckle Mining company Eareka Miaea Standard .... disclosed that it had negotiated a xEnreka Gold Chain Deposit deal to purchase substantial hold- xGrand Great Western ...... area. the in Horn SUrer ings ; Continued on Page 2 Ore Shipments Week Ending November 28, 1953 BINGHAM DISTRICT, UTAH Combined Metals Reduction Co. 85-to- n 331 Copper tons. (Kennecott) 960 cars daily average PARK CITY DISTRICT, UTAH New Park Mining Co. 1,380 cars. EUREKA DISTRICT, UTAH Chief Consolidated ore 15 cars. Dragon Consolidated clay 10 cars. ....... ......... Mines Al4 .014 .08 .084 OU Magnolia Lead Majeatle Oil A Mng. xMammoth xMlller Hill xMlners Gold xMono Kearsarge . . . . Moscow ML tate De. .084 AS AS .60 AS4 .084 .084 AS .044 .034 .014 .014 .034 .03 .084 .014 A9 .084 AS .04 48,188 26.500 .034 1.000 27.000 4.000 AS4 .08 AS4 .014 .034 4.000 19.858 17.500 86,788 300 10.000 10.000 . .89 .04 .55 Zinc Supply Uranium Activity Holds Top Adequate To Position In Public Interest Meet Demand Participation Gains Rapidly 7 h - - ' j- Factual information to dispel persistent doubts about the adequacy, of future zinc supplies has been released by the American Zinc insitute in a leaflet entitled VWho Says Zinc Is Not Freely . news flaseT of the companys lease applicaAs we go to press, the announcement has been made that Uranium, tions in San Juan County and It Inc., a newly formed Utah corporation has just secured an option on has been currently reported that the Turner Mine, located on the Colorado Plateau. The Turner is pro- road improvements are now ducing uranium ore that has been averaging around .44 U308 and 2.31 made by the A. E. C. with being possible vanadium. Available. Uranium activity in Utah and the surrounding states continues All present indications are that at an accelerated pace as the lis of operating companies expands zinc supplies will continue to be daily. sufficient to meet both near and As in any new industry, consid- ant producing districts. This, to- drilling to be conducted by tee agency during the winter. ; the requirements, leaflet states. It emphasizes the fact that earlier predictions by the Institute about zinc supplies, in December, 1951 and again in September, 1952, have proved to be true and conservative The current facts about the zinc situation are briefly as follows, it long-rang- e says: 1. U. S. smelter production of slab zinc this year is ahead of 1952 and nearly as great as the record war year of 1953. At the same time imports of slab zinc in the first six months of this year were 154,000 tons, almost as great as the previous all-tihigh for a full year (156,000 tons). In addition, i the annual supply available to the free world (exclusive of Iron Curtain countries) has increased 50 per cent in the past seven years from 1,420,000 tons in 1946 to tons in 1952. 2. Stocks of all grades of slab zinc are now ample at the end of September they totaled 141,000 tons. (By the end of October this had increased to 158,000 tons, the highest since August, 1947). 3. Zinc mine reserves are substantial and much larger than any It is certain published figures. that reports of imminent exhausand tion of zinc are adeof evidence is that there every quate reserves in the United States and abroad tT match any reasonable estimate of requirements for many years to come. 4. There is absolutely no need to curtail zinc consumption by using inadequate and unsuitable substitutes wich give unsatisfactory perSuch ; substitution is formances. harmful and uneconomic, the Iron Blossom No. 2 ore 7 cars. Plutus Mine ore 2 cars. PIOCHE DISTRICT, NEVADA Combined Metals Reduction Co. Perlite 8 cars. Maganese No' dules 14 cars. & Co. J. A.vHogle Mining Dept pamphlet says. . ..06 ..06 .014 .10 .044 .81 .004 A6 .054 .014 .084 .014 81,255 1,000 7,850 9.000 18,000 8.000 18.170 . . Utah .044 .81 .014 xLeenora Littie May txMadison Queried by phone yesterday Alway told the Wallace Miner tiai details of ' the property 'deal a, now being worked out. Severa other Kellog mining firms are in volved and will also have an interest in the uranium property, he said. Identity of the firms was not disclosed, but Alway said further information about the deal wil soon be released. Coeur dAlene Silver Giant stockholders were advised of the current status of the transaction because of the forthcoming sale o stock delinquent in payment of last assessment levied by the company, he said.. Company officials felt tha stockholders should have the information before the sale is held, he added. According to newspaper accounts from Moab, Utah, the recent strike on the Hudson property is more spectacular than the Steen bonanza. Drill cores from four holes 10 feet apart to a depth of 500 fee; have assayed in excess of 5 per cent uranium oxid and down to a low as .$3 per ' cent, accordinj to Hudson, 50 per cent owner o! the property. In one hole a four foot zone of ore ran better than per cent U308, he reported, statinj; that the Steen property has not ' .014 .10 A44 .18 .014 .06 A54 AS .11 Keystone Loksldo Men 1952. 55 tons. U. S. Mines .18 Indian Qneen xKennebfe xKentuneky Utah ' . AS xHoweU The Coeur dAlene Silver Giant announcement came in a letter to stockholders from President Harry G. Alway. The claims, he said, are known as the Hot Rock group. According to an accompanying map, they adjoin on the northwest the property of the T. C. Hudson group on which an uranium strike; reported to be the most sensational in die area to date, was made recently. Less than three miles away, to the southeast, is the much publicized Utex mine, site of the original discovery in the district by Charles A. Steen j. A54 .144 44 o .044 .184 e e e a Acquisition of uranium properties in Emery, Grand and San Juan counties, Utah by Consolidated Mining announced recently was Company in Salt Lake by officers of the company. Present plans of Mono call for expanding its uranium holdings and initiation of development work, on the properties. The new expansion program is being conducted as a joint venture with the Majestic Oil and Mining Company. Negotiations are also underway with other mining interests for development and exploration of the newly acquired acreage. Radiometric surveys will be conducted on all the properties, the report states, explaining that drilling, trenching, or other means will be used to explore the radioactive areas. Uranium is said to be known to occur on parts or practically all of the tracts of land acquired and that the San Juan Creek properties on Cottonwood and Indian Creek are distributed throughout the area of intensive prospecting by claim holders and the A. E. C. This latter organization has had a . camp established" for seyera) months in an area covered by one Mono-Kearsa- ge Al4 .SB . xEast Standard E. Tin. Coal a xEaat Utah m : AS zClayton SUrer Colerade Can. WALLACE, IDAHO District at- July, One Year 12.59 1953 Salt Lake Stock Exchange Noy. Transactions Mono Company; UiM .084 iBaumi Expands Into .034 41 Utah Area Uranium Idaho Firm In - ed erable preliminary steps are necessary, however, in the case of Utahs enormous uranium business, this stage has been passed and activities in many cases, are concentrating on the job of mining and marketing this unusually lucrative mineral. The now famous Colorado Plateau, including the San Rafael Swell area, continues to be the 'hot spot of the Nation. Production of high grade ores in this region continues in major proportions and exploration and development projects are being pushed over an extensive area. Prospecting has reached a stage not seen for many years and as new showings are. discovered, companies are formed and quickly financed preparatory to getting down to the business of entering the list of producers. Recent .reports indicate increasing interest in the San Rafael Swell development where a new strike of great promise has been reported. Center of the boom is in the Temple Mountain and Dripping Springs areas where a number of companies are interested, including, U. S. Uranium Corp., Consolidated Uranium Company, Great Basin Uranium & Leasing Company, Mayflower Company, Silver Shield Mining Company and Cardiff Mining Company. Information disclosed in recent information hearings indicates that the Colorado Plateau, including the San Rafael Swell area, comprises one of the worlds major sources of uranium ore production. In addition to these areas, there are many more in the extensive western region that hold potent promise of becoming import- - Oil Drillings Three out of every four wells gether with the fact that a large drilled in tee United States in 1952 number of individuals and comwere drilled by small companies, panies are participating inthe ac- individual operators or contrarc-tor- s. tivities widens the interest and imAlthough oil is rated as the portance of ' this great new indusnations fourth largest industry,' try. statistics like these show teat in many respects it still is a little mans business. Time Expires For Checking Mine Claims UNLISTED URANIUM COLO.-T- he GRAND JUNCTION, Atomic Energy Commission points out that December 10, 1953, is the last day of the period during which the benefits of Public Law 250, 83rd Congress, may be obtained. Public Law 250 provides tKat. subject to certain limitations and reservations, a mining claim located under the mining laws of the United States subsequent to July 31, 1939, and prior to Janu-ra- y 1, 1953 on land included within a prior lease, application or offer for a lease under the mineral leasing laws shall be effective to the same extent as if the mining claim had been located on lands open to location under the mining laws. To obtain the benefits of this law, the owner of such mining claim is required not later than 120 days after Aug. 12, 1953, to (1) post an amended notice of location of mining claim, stating that such notice is filed in accordance with provisions of this Public Law and (2) file for record such notice in the office where the certificate or notice of location of such claim is recorded. (Continued on Page 2) Cromer Brokerage Co. Member Salt Lake Stock Exchange Salt Lake Stock Exchange Bldg. Suite No. 9 Exchange Place Salt Lake City, Utah Reports oh the above issues will be mailed free upon requests. Phone Teletype SU 189 4-3- |