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Show V sv-;- 4 , ' wr.tf 3 VoL 25; i '' -- .tV. - yVi is r:t'r. X' ' V;:' Xi .f ySi ii " . ; ' f fr'Tiygifi -1 VHtH No. 50 n"nn jfjjTi'i jwigrf fa, ft afV'Y girfiV iiil "L tMr&i-fytwSr- V " ff 11 f -- ' Qt.sv orf5ijx T f- - ?: mr, v-:- ..h.One Year i;i $3.00 Mohawk To Lease Big Horn Concludes Stock Sale; Gas Hills Claims To Near Happy Jack Begins Drilling are in Negotiations U-Syndi- cate progress with a large international comIn a story dated October 10 published in the Sunday Tribune, pany for acquisition of the lease Robert W. Bemick, business editor of that newspaper, quoted of Mohawk's new strike in the n dollar Happy Jack Gas Hills area of Freemont Fletcher Bronson, owner of the mine as declaring he anticipates a uranium production of 18,000 County, Wyoming, it was antons a month from Happy Jack. Grant Bronson, his son, superin- nounced by William J. Kinick, tendent of Happy Jack, is quoted in the article as saying Its just Jr., President of Mohawk. Wagon like digging coal." drilling is still in progress on the discovery and although asThe Tribune dispatch estimated a 30 ton dally production says of samples has not been at the time of the writing of the article, with officials of Happy completed, officials are hopeful, Jack predicting a 60 ton daily output with improved methods. it will reveal a sizeable body of Grant Bronson is quoted as saying nappy Jack has blocked out better than average uranium. an area, 700 by 900 feet on a producing eight foot face. lie preMr. Kinick safd Mohawk has dicted it will produce a total of 357,840 tons of uranium ore. been shipping from the Circle When Bemick wrote his story, Happy Jack had been shipping Cliffs claims, into Vitro, Marys-val- e and Rifle, Colorado refining ore for a week, to the AEC new buying station in the White Canyon, Comand plants. Ten ton trucks have been a mile away, operated by American Sxpelting Refining pany. The Tribune writer said 15 truck loads of ore arrive daily at hauling the ore for a week. Other shipments have also been trucked the buying station. to the American Smelting & ReThe Tribune dispatch quoted Joseph Cooper, one of the owners fining Company mill at of Happy Jack as having testified before a senatorial investigation South Dakota. into uranium mining a year ago, that his property would produce Mr. Kinick predicted negotiaa greater amount of ore if it were not for the adverse effects of tions should be completed the income tax. first part of next week after which a letter will be mailed to In the January 1955 edition of Argosy Magazine, now on news stockholders them of stands, Andrew Hecht, special writer, offers this timely and interest- the terms of advising contract the and ing comment: True there havent been many strikes on the order submitting an interim on report of what Charles Steen and Vernon Fick found, but there were many Mohawk to date. operations xpore than the outside world has heard much about. According to one estimate I got, .the Colorado Plateau so far has produced some twenty Uraniumaires", men whose holdings are valued in the millions. Yet, few people beyond Salt Lake City and Denver know the names of Fendoll Sitton, Tom Skidmore, Joe Cooper, Fletcher Bronson, Don Danvers, Lew Williams, Bob Barrett, Tom Hudson, 267 Gene Sanders, Dr. Garth Thornburg and his brother Vance, or Merritt Ruddock, to mention a few of them. Elatestc Basin Uranium ComJoe .Cooper, for instance, who has thus far managed to to claims worth estimated be are Steen's pany expects to lease 267 claims avoid publicity. Charles to a lafcge Eastern organization, finanto cash $150,000,000. Vernon Fick sold his for $9,000,000 to it was announced by. Jay Walters, cier Floyd B. Odium, who has seldom ,if ever, been known 0 President, upon his return from overpay on a property. Yet Odium offered Joe Cooper $25,000,-00New York. According to the ancash for his Happy Jack Mine, only to get a flat turndown. nouncement by Walters, the The Happy Jack mine is supposed to be worth $250,000,000, even 1946. Eastern back in for himself it group will spend $200,-00- 0 paid only $500 though Cooper x drilling, and if the ore proves Cooper bought Happy Jack as a copper mine, but the .mills what they, anticipate, plans will turned down his ore because it contained too much troublesome be completed to carry out a huge uranium. He had to shut down. F.or years he considered his pur- development program on an exchase a dead loss until the government 'suddenly started paying pansive scale. Walters indicated that General Uranium premium prices for uranium." acsome claims Elatequired from rite. He said Elaterite shipped 32 Prison Grounds Anomaly truck loads of ore from the Green vein and two days prior to Christmas the company struck a body of ore in the Hertz vein. He said negotiations are to begin next week for leasing of Elaterites 32 claims in San Juan multi-millio- rJ if Salt Lake City. Decembei 28, 1954 illion Turned Down For Happy Jack Claims h'r v Edge-mon- t, Elaterite to Lease U-Cla- ims To Eastern Co. The Big Horn Uranium Corporation, under a Regulation A filing with the Federal Securities Commission and a Permit of the Utah State Securities Commission, has sold 2,160,000 shares of stock. The Corporation terminated the sale of stock to the public on December 15, 1954. Trading will begin on January 3, 1955 on the Unlisted Uranium Market. Daily market quotations will be published in the local papers by the Cromer Brokerage Company. The 32 claims owned by the Corporation are all 100 per cent owned by the Corporation with no royalties payable. All properties are located in the Shinarump formation, which has been an extremely prolific producing formation on the Colorado Plateau. The Big Horn Uranium Corporation owns 14 claims in the Indian Creek area, which are located 2,600 feet from the Moki Exploration Company strike in that area, whose commercial aspects are becoming more and more important On October 10, 1954, the Atomic Energy Commission opened for operation an ore buying station in the White Canyon area. This station is located one mile from 18 claims owed by this Corporation. This is a distinct advantage as the Corporation will be able to ship very low grade ore at a profit during the development program. Companies less favorably situated must either save the ore until they get high grade ore to mix with it or throw it away if no higher grade ore is found. The Big Horn Uranium Corporation takes great pleasure in announcing that the development program on its properties adjoining the fabulous Happy Jack Mine has begun. Drilling on the Lost Boy claims was started on December 10, 1954, by the .Stewart Uranium Corporation of Monticello, Utah. Bulldozing work has already started to prepare drilling roads on the Tiger and Joe Dandy group of claims which lie only 1500 feet West of the Dollar ore body of the Happy Jack Mine which is recognized s one of the largest ore bodies in the entire United States. In fact, it has the largest proven copper uranium ore body on the Colorado Plateau. The officials of this Company are of the opinion that due to the proximity of the Happy Jack ore body and other favorable geological features, the drilling and bulldozing work now in progress could show very gratifying results. Officials of Big Horn said a complete M operations to date will hr made to stockholders nau . Multi-millio- n . ? . Utah State Land Board Negotiating With A S & R The Utah State Land Board is negotiating a lease with American Smelting & Refining Com pany for development and mining operations on the Utah State Prison grounds at Draper, it was announced today by Lee E. Young, Executive Secretary of the State Land BoarcL who said the Land Board will handle the royalties on subsequent production. Atty oJseph P. McCarthy, counsel for the Land Board said today that negotiations will be delayed for some time due to the fact he has been obliged to concentrate his attention upon important matters relating to the opening of the state legislative sesison. As a of an anomaly discovered on the premises, and extending over several private properties located nearby, the American Smelting & Refining Co. requested permission to go ahead with exploratory work at its own expense. Mr. Young said the work will be done in full cooperation with the State Board of corrections and the State Highway Commis result sion both of which have definite interests involved. He said the lease will be drawn up in coop eration with the two other state agencies, separate specifications being applied to the work and production program, and to protection of the interests of the highway department and the cor rections Commission. The lease of the premises is also to be extended to Include some surrounding land, extending clear over to Draper, Mr. Young said. The anomaly which came about from an aeromagnetic survey by geophysicists of the U. S. County. It was rumored engineers of Newmont Mining Company will inspect some uranium properties in the vicinity of Elaterite's claims early in January and there is a possibility they may look over Elaterite claims while in the locality. Report On Lignite Now Available A Bureau of Mines report on the production land utilization of lignite is now available, Secretary of the Interior Douglas McKay announced two-pa- rt today. Lignite, the lowest rank coal, is abundant in North Dakota, Geology Survey. from a report by the Geological South Dakota, and Montana. It Survey reads: If the source of makes up about 24 percent of the anomaly is an intrusion, min the Nations coal reserves on a erallzation and contact metamor- tonnage basis and 15 percent on basis, the report phism similar to those observed a heating-valu- e elsewhere in the Salt Lake Val- estimates. Part I of the report, which ley, (lead, zinc, and copper sulaswas be phide mlnerallation) may prepared by Bureau staff sociated with it. To determine members at the Charles R. Robthis, additional geophysical work ertson Lignite Reaserch Laboramore drilling will be necessary." tory, Grand Forks, N. Dak., ana Anextr act Big Mining1 Year In 1955 The enthusiasm generated throughout Utah as a result of the widespread interest in uranium-mininis spreading to other branches of mining, with a notable increase of interest in the mining of zinc, lead, gold and silver throughout the Rocky Mountain area. Venture capital from the big eastern financial markets now seeks speculative opportunities in the west and indications at the year end point to an even better year in 1955 than has prevailed in Utah during 1954. We can thank uranium for taking over a dormant mining situation and breathing new life into an enterprise! that is now an outstanding factor in the prosperity of this region. The benefits of the uranium boom are far reaching with greater benefits forecast in die next few years. at Washington, D.CL, summarizes industrial development possibili- Alpine Will Terminate ties for lignite, European technology on lignitic coals, the oc- Stock Offering Jan 15 currence and properties of lignite, lignite mining in North DaAlpine Uranium Corporation transPresident Adrian W. Cannon, tokota, and the preparation portation, and storage of lignite. day announced that the Company Part II of the report, dealing plans to terminate its offering with utilization, discusses devel- by January 15. The Company opments in the combustion of originally planned to sell 7,500,-00- 0 shares at three cents per lignite, for power generation, as well as the carbonization, gasifi- share. However, due to successcation, hydrogenation, and other ful operation of the mill at chemical processing of the sub- Fruitland, Washington State, and stance. the extending of $15,000.00 credit d sens equipEach section of the report in- by MorrI ment outlet in cludes an extensive bibliography. Spokane, the In addition, Part I contains an Company will conclude its' offerappendix presenting statistics on ing at less than 40 per cent of the production and value of lig- the original authorized amount. nite in North Dakota from 1926 The copper-cobamill is rated 1952. at 140 tons per day and will be through Single copies of Information increased in the next 90 days to 0 Circular 7691, Technology of 175 tons per day. A total of of concentrates Inwere pounds Lignite Coals, Part I," and formation Circular 7692, Tech- shipped in the initial shipment nology of Lignite Coals, Part to American Smelting & RefinH, can be obtained from the ing Company. Mr. Cannon said negotiations Bureau of Mines, Publications Distribution Section, 4800 Forbes were successfully completed for Street, Pittsburgh 13, Pa. The 16 additional uranium claims in publication or publications de- Marble Canyon. The surface exsired should be identified by posures indicated good uranium number and title. and vanadium values. sson-Kn- u lt 70,-00- |