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Show " ( VoL . 25jJo. M . .v ' JmixT V jm 4. One Tear Sail Lake City, Utah. December 21. 1954 49 ulU 7-5- 4 onmeirt Experts May To Work r F V ig circles, as to the identity of die operating e chosen for the! huge task of "claims rack in San Juan County, Utah developing the Inium Company, of Spokane. owned by the U. anct A first report that xfecla Mining would be chosen for die job, lacked authenticity last night, when it was intimated a group of experts employed by that company, might relinquish their positions to form a development organization for the project Discovery is estimated to contain uranium worth $50 to $300 million. Mining: The Kentucky-Uta- h in the offices with Company, value equivalent on shares of Pacific National Life Insurance the controlling companies Building, bought a residual inwould 60.33 about be per share terest from the original title on five companies and 60.50 holder of 68 claims. Ten of Caledonia. on these are known as the Radon In the past two weeks eight Group on which drilling has been done. drill holes have been completed The Radon discovery is a on the Radon group of claims, mile north of the Hudson ore more than doubling companys body in southeast Utah on which proven uranium reserves, manHomes take Mining Company re- agement estimates. This area is now rejortedly cently completed a shaft The miles 1200 feet long (1000 reported group is three and one-haa north of Charles Steens previously) and 400 feet wide as described area an in claims, (150 feet previously reported). the LaSalle. Both ore grade and vien thickThe residual interest entitles ness have substantially increased to royalty pay- toward the North and West. Kentucky-Uta- h ments on future uranium producOut of 20 holes thus" far tion, it was disclosed by Willi an drilled, only the two in the EastNebeker, an official of Kentucky-Uta- erly direction were dry. Earlier The latter company ac- holes to the South end of the a quired working interest in the Radon property line ran around claims last Spring. 0.375 U308 (0.1 is regarded Last June they drilled a size- as commercial), with thickness of able body of uranium ore, Mr. about 10 feet Hole No. 15, some Nebeker said. 1200 feet to the North, yields The Radon group is described ore exceeding 1 and 26 feet by mining experts as the bigthickness, showing a favorable gest single development in trend in that direction. Westward uranium to have been discov- drilling to determine width, has ered in the last six months. shown similar trends, with last Walkers weekly News Letter three holes running 1.5 to of Los Angeles, reported on Mon- 1.75 14 to thickness and up day, that 10 drill holes by U & I feet on the Radon leases have thus (Continued on page 3) far proven up a uranium ore channel 1000 feet long and 150 feet wide, .giving U & I one of the six major uranium discoveries in the La Sal Mining District of San Juan Company, Utah (this district is 11 miles long and seven he miles wide), management reports. "Another 1500 feet will be tested in the immediate future, to determine both length and o ore body within width of . Separation wa . . lf Mi-Vid- h. 7 "Average uranium ore grade is estimated to compare with that of Charlie Steen's mine, where Ij an ore body 1500 long and 900 feet wide has been estimated to contain uranium worth $50 to $300 million, according to recent Fortune and Readers Digest articles. "After authorization by stockholders of all six controlling companies, U & I has recently been negotiating with both Eastern and Western financial interests for its first public offering of stock. These discussions are understood to be at a figure of about $1.00 per share. "Stockholders of the six controlling companies are currently considering proposals to distribute U & I stock held by such companies to their respective stockholders as a dividend. "Based on the proposed un--derwritlng price of U & I stock of 61.00 per share, the Government contracts totalling 6334,288 have been awardea small firms in Colorado and Utah under the Small Business Administrations program of assist larger share of Government hare of Government orders, Harold R. Smethills, Denver Regional Director of the Small Business Administration was created by Congress July 30, 1953, to assist small business in obtaining a fair share of Government orders for goods and services. The agencys functions also include financial and management assistance. It maintains 40 field offices. The contract awards resulted, from the agencys Program with the Department of De fense, under which they jointly earmark suitable military purchases for exclusive performance by small firms. Mr. Smethills also reported that progress in other phases of the Small Business Administrations continuing programs to in grease the small, business share Of Government and private orders. for goods and services has resulted in: (1)- . Notification to amall firms in Colorado, Utah, New Mexico, and Wyoming of 344 prime contract opportunities; (2) Prime contract awards to- -' taling $1,221,000 to two small firms in this area through Small Business Administration Certifi cates of Competency certifying to their financial and technical ability to carry out the contracts (3) Listing by the Denver Regional Office of the facilities of (Continued on page 3) or-larg- 0 7 er Exploration In Progress Hughes Says Gas Hills Deposit Estimated at Many Thousands Jits Readers, 50-od- multi-millio- n shallow-- com-merci- - al k ; by-produ- The Heartiest Wishes Jcr Health, Wealth non-metall- ic and Happiness al Lu-ke- Jburing the Christinas Season and Throughout the ns photo-electri- c . photo-electri- c Coming Ifear N Deposits estimated unofficially to be worth hundreds of thoiigpndg of dollars were revealed recently in an announcement made by Vem Hughes, of the Hughes Mining Company, of Riverton, Wyoming, and Salt Lake City, Utah. The Hughes Mining Company is holder of extensive uranium miles south properties in the fabulous Gas Hills area just d east of Riverton, Wyoming, and in the immediate vicinity of the Lucky Mac Mine, the Vitro Chemical. Company properties, and the Alfred Nostrum mine, a recently developed producer of no little consequence. Mr. Hugheg said that only the exercise of prudent caution r& mencing initial shipments after strained him from announcing a modest core drilling program the results of explorations still to block out ore bodies, made in progress, as possible by a private financing dollar in character. i plan now being carried out. No Open cut exploration of plan is held at this time to sell bedded bewhich the deposits property, or lease it out, or on a public offering of. stock. the float gan Hughes properties in late October, indicate Reasonably good- roads thru-- , ore may be shipped out the Gas Hills area, plus the from as many as a dozen scat nearness of the buying station at Riverton, combined with the tered locations thruout approximately one thousand acres or advantages of "soft ore deposits of sand and clay and loose conthe company's claims. These claims lie directly be- glomerate, and relatively shallow overburden of ten, to twenty. tween the Lucky Alfred Nostrum the .icaj feet, make mining prospects less which would seem to indicate an formidable, says Mr. Hughes, elongation eastward of the Gas who was raised in the hard-rocHills high grade area. mining district around Butte, Shipments from the Lucky Montana. "I have never seen 6100 Mac are reliably reported to be plus ore so easily accessable, running thirty tons daily with an says Mr. Hughes, 'as in the Gas average orei valuation of slightly Hills basin. Some of the larger compan-- . 'more, than $100 per ton. A. recent ies active in uranium elsenewspaper report announced that a brief drilling program had outwhere, have recently shown lined $10,000,000.00 in uranium grej interest in the Fremont ore at the present site of activity County deposits, and some dozed or fifteen of them have on the Lucky Mac property. The Alfred Nostrum property either acquired leases or claims is considered by many experts there, or have begun negotiations with that goal In mind. as the most promising combinaThe location of two buying tion of high grade vanadium and uranium ore yet found. Unoffi- stations, one at Shoshoni, and cial reports of the Nostrum proj-ert- the other at Riverton, just twenty list sizeable "block-outof five miles apart, with persistent ore assaying as high as 8.6 uran- reports of a processing mill to be built at Riverton, gives one ium oxide, and 5.3 vanadium! AEC spokesmen who do not some indication of the importwish to be identified, recently ance of the general area. stated that no other uranium "field yet discovered on the Semi-Met- al Selenium North American Continent, has shown greater" promise after Has Unique Properties The element Selenium, one of only fourteen months of activobtained during the ity following the initial discovand the ery. smelting refining of Mr. Hughes anticipates com- - nickle copper ores of the Sudbury District of Ontario, has unusual properties. They are neither those of a US Steel Announces "true metal, like nickle or copper, nor those of New Steel License materials such as sulphur. Selen and this ium is a semi-metPittsburgh, Pa., Dec. 12 of its makes many possible United atSest Steel CorporaOne of these applications. unique tion announced today that cells. is in Steel Company, Coats-ville- , The operation of these cells Pa, has been licensed T-depends upon the fact that selento manufacture conl ium, when in contact with a structional alloy steel. This new and patented steel noble metal, usually gold, develops a slight electric current was developed by U. S. Steel when exposed to light. Research to meet the need for Selenium cells a steel, to be used mostly In are in employed burglar alarms, plate form, which would have industrial devices, autosafety be high yield strength, yet matic door opening mechanisms, tough enough to stand unusual stresses and pressures at both and, more recently, to control the ventilating systems of mines high and low temperatures and tunnels where dust or fumes and be easily welded. are liable to be present. s Western Mineral Survey Cxtends the Radon claims. Govt Contracts Awarded to Utah, Colo. Firms |