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Show April 7, 1969 Page 5 OIL & MINING JOURNAL Sun Tide reports earnings, new mining activities . Sun Tide Corporation reported for gold, silver and copper, the to stockholders in March that net report said. The property is earnings for fiscal year 1968, located near the Arizona --California which ended Oct. 31, 1968, were border and is a new $101,965 before income taxes and find, according to the report. carryover losses, as against a ...We cannot say whether it net profit of $2,839 for the year will prove to be a commercial 1967. State and Federal taxes ore body; but in the event the were $12,146 and carryover lossproperty turns out to be comes were $33,094. mercial, it can have a considThe greater portion of Income erable bearing on the value of was non -- ope rational and our holdings. corporation offIncome, according to the icers noted. non-recurri- ng report. The corporation reported a substantial interest in a new mining acquisition, through staking claims and by virture of a lease and an option. Surface outcrops indicate the property has the earmarks of a possible large U S. open-p- it operation The company noted it has been acquiring mining claims in the Lynn CreekMinlngDlstrlct, Carlin, Nevada, since 1963, not far from the Newmont Mining Company gold discovery (through its wholly-own- ed subsidiary Carlin Mining. Company) which is con sidered one of the greatest in North America during this century. The mine is now the second largest in the United States. Last year, the company reported, the gold situation be- came such that gold producing companies are not limited to sell their output to the United States Treasury at $35 an ounce. Gold can be sold on the open market, and, during the year, we have seen the price go up to as high as $45 per ounce. The company predicted a continued rise in the price of gold and silver. The company reported acquisition of three groups of mining properties: a 100 per cent interest in six patented mining silver claims in Tonopah, Nev ada; a 100 per cent Interest in 80 acres in the Lynn Creek Mining District, known as the Sheep Creek claims adjacent to the Carlin Gold Mining Company property and under lease toCar-li- n for a monthly rental and a per cent of net proceeds from any ores mined, and an eight pe cent undivided Interest in the Yellow Rose claims of 1100 acres also adjacent to the Carlin Gold M lne . These are leased to Home -stake Mining Company which is to carry on a drilling program. The company sold a one -- half undivided Interest in its Silver Bell Mining Claims near Park City, Utah, to Silver West Mining Company for 42,000 shares of common stock, and Sun Tide has entered into an agreement with Silver West to drill and develop these claims as soon as weather pemlts, on a 50-share the costs and the profits basis. This property is located approximately three miles north50 east of the-note- d Park City Mi- ning District which has produced large amounts of lead and silver. We believe this is a good speculative venture, the com- pany officers noted. The company also reported on drilling operations taking place or planned on two other properties in the Lynn Creek District, and activities at the firm's tungsten mine at Groome, Utah where tests are being run on the quality of ore. mineral output sets new value record in 68 WASHINGTON-T- he Nation's mineral output in 1968 set a new value record for the seventh consecutive year, the office of the Secretary of the Interior reports. Domestic mineral production in 1968 was valued at almost $25 billion, compared with $24 billion in 1967, according to estimates by the Interior Departments Bureau of Mines. All segments of the nonmetals and chiefly reflected the demands of estimated $700 million above a growing national economy, the 1967 level. Bureau of Mines Director John MINE PRODUCTION OF other to COPPER TOTALED 1.2 million OLeary pointed a 26 contributing factors. tons, per cent increase over were these 1967 the steady Among output. Domestic mine gains in production from following the settlement April nonferrous metal mines of a. widespread strike; a surge in building activity which boosted for construction raw materials', and the rising requirements industry metals, fuels registered increases. outputs of petroleum increase natural gas and coal, rose an Although the billion-dolla- r in mineral production and natural gas. The value of all U.S. fuels, including petroleum, from the U. S. Atomic Energy Commission Tracer Atoms Reveal Timber Grain Pattern production of gold and silver, which often are byproducts at copper mines, again was affected by the copper strike in the first quarter of the year. While silver output showed a one per cent increase to 32 million troy ounces in 1968, the value of the silver produced jumped 39 per cent to more than $69 million. in differentiating straight grain from spiral grain in living trees. And the upshot may mean it will be possible to. plant and harvest superior straight-grai- n timber through selective breed- the AEC, and the others THE VALUE of usable iron processed material for the ore concentrated ore shipped to rapidly growing private uranium consumers increased three per market. Private transactions cent in 1968, reflecting a trend accounted for 5,300 tons of toward increased iron content of U308in 1968. BuMines releases shale data LARAMIE, Wyo. Well log data from a corehole drilled in the rich oil shale .formations of southwestern Wyomings Sweetwater County, have' been released by the U.S. Bureau of Mines. The corehole, identified as is located southwest of Rock Springs, in Sec. It was drilled during a. Bureau search for a relatively shallow site suitable for future experiments Green River Theres a new twist Lead mine production, such shipments. Uranium output increased resuming an upward trend begun in 1963, rose to almost 355,000 about 15 per cent in value above tons, valued at about $93 1967 to almost $190 million. million, in 1968, compared to 'Production in terms of U3O8 316,931 tons, valued at $89 content increased about 19 per million, in 1967. Mine cent from 1967 to 12,280 tons production of zinc, however, ofUsOsin mill concentrates. Of declined from 549,413 tons in the 14 mills operated during the 1967 to about 526,400 tons in year, nine supplied uranium to 1968. 1-- 1, on in-sit- in place u retorting of oil shale. Gamma ray, resistivity, and density logs from the corehole can be purchased from the Rocky Mountain Well Log Service Co., 1753 Champa St., Denver, Colo. 80202. Persons wishing only to consult the well log data may do so during regular working hours at the Bureaus Petroleum Research Center, 365 N. 9th St., Laramie, Wyo. Release of the corehole data at this time is expected to aid priyate firms in evaluating the overall potential of oil shale deposits for commercial development, the Bureau said. Green River 1 is 503 feet deep and passes through two oil shale intervals that average about 20 gallons of oil per ton. One interval is 40 feet thick, and the other 30. Water was encountered at 133 feet; however, it has not yet been determined whether 1-- the site is hydrologically unsuitable for an in-sit- retorting experiment. ing. Spiral grain is a common feature of tree growth and has been reported in at least 200 species of hardwoods and softwood. There have been numerous studies attempting to detect the grains of unpeeled timber, but no reliable way had been found until now. While conducting snow research for the Atomic Energy Commission in the Sierra Nevada, Dr. James 1. Smith, of the U. S. Forest- - Service Pacific Southwest Forest and Range Experiment Station, Berkeley, Calif., found he could contimber through the use sistently identify spiral or straight-grai- n of atomic energy. He was using minute, harmless amounts of radioactive dements (called radioisotopes) injected into the roots of trees to study the amount of moisture transpired by trees during winter months. Using a conventional Geiger counter, he followed the radioisotope as it was carried up the trunk by the sap and into the branches. During the process he noted that trees grains were easily followed. In his newest AEC study. Dr. Smith plans to identify trees with radioisotopes. These trees will be used straight-grai- n as seed trees to produce future tree systems which, hopefully, will have a smaller percentage of spiral grain than those growing naturally within the forest. The new straight-grai- n trees will again be identified and used as seed trees. Dr. Smiths goal, of course, is the selective breeding of trees that grow consistently with straight grain, since grain has a profound influence on the strength and workability of lumber. -- TEST DORIHGS ALL TYPES TEST HOLES IN ALL WESTERN STATES Core Drilling Wire Line or . Standard Air or Mud Rotary Mine Underground Long Hole Drilling Cable Tool Water Wells or Sampling IAIEST TYPE. EQUIPMENT SKILLED PERSONNEL SpringvilW- Long Distanco Phow 489-480- 0 JH1 CONSTRUCTION & DRILLING CO. 1045 W. MAPUE MAPIETON Bruch Offices: 590 W. 19th St. Idahc Falls, Idahi 3410 Wtstsrn Avcn Bliss, Idaho u |