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Show June 16, 1969 Central Oil Mexico projects Central Oil and Mining be paid to the owners. Central has also acquired interest in a new copper prospect on 12,804 acres near LaDura. Two independent geologist report prospects of a large porphyry type copper ore deposit" in the area, according to Central Oil President Maxwell Bentley. Bentley said Central's lack of working capital has made it necessary to arrange with four other small corporations to furnish the needed capital in exhange for 75 per cent of the working interest. The companies are Croff OllCo., Crown Point Gold and Silver MinInter mountain Re ing Co., sources, Inc., and Pocatello Post Publishing Co. A Mexican mining corporation is currently being formed to own any mining concessions which might be acquired on the property. The five participating corporations, including Central, will own 49 per cent of the capital stock of the Mexican corporation, and Bringas Brothers of Soyopa Cor- poration officers have announced activities at three copper and silver properties in Mexico in which they will participate with Mexican and other U.S. mining companies. The properties are located at Hermosillo, Sonora, and La Dura, Sonora. The company executed an opa, tion agreement with Mineral a Mexican company, on the property located 35 miles northwest of Hermosillo which covers 3,171 acres. Under the Azteca has agreed to at least $150, 000 during the spend next two years to develop the property. Central's net interest in the ownership of the property is 48 per cent. Azteca has an option for a lease covering the maximum time allowable under Mexican law 20 years. The mining and milling contract on the property provides for a royalty of pe cent of net smelter returns to Az-tec- 2-- 12 New O-T-- and Hermosillo who made the initial denouncements will own 51 per cent. Central announced the payment to Bringas Brothers of $40,000 for a 49 per cent interest in the San Cristobal and Gallo de Plata mining concessions. Central owns a net 12.25 percent carried working interest in the The mining contractor is currently cutting toward the downward extension of the silver vein on the properties, Bentley said. After the vein is reached, the contractor will drift along the vein for about 100 feet until he reaches a point vertically below the face of the ore found in the vein above and at this time Central and the above named four companies will have the right to ship ore for a period of six months, receiving 100 per cent of the proceeds. After that tlm the Bringas Brothers will participate in the project as owners of 51 per cent of the concessions. Principals are John Prince, Almon Covey and David E. Nelson. Mr. Prince has been associated with the firm of Dean Witter D ALENE , se without approval of shareholders. At the meeting held at Coeur-dAlene- , Lucky Joe stockholders voted unanimously in favor of property may be proved out within the next year. the offer, and Williams more than 40 stockholders present that Lucky Joe would be the corporate shell and surviving company. Glade Stringer, Riggins, Lucky Joe owns several claims, some patented, new Newport, and a group of Idaho, outlined the new firms program for development and expressed hope that the NOTED HE unpatented claims in the Potter Creek drainage of Magee Ranger District, north of the Coeur dAlene Silver Belt. that the TUES. L WED. NO RESERVE NO LIMIT MINERALS investment firm has two other properties it intends to. merge with Lucky Joe and told the Investment officials agreed not to remove the mill or equipment from Lucky Joe claims near Newport, Wash., within a year Idaho Control of the Lucky Joe Mining Co. was acquired by Williams Investment Co. of Salt Lake City for a disclosed sum of $25,000 plus an additional $1,000 for 1,500,000 shares representing 52 per cent of the stock. PUBLIC AUCTION Min Contracting Services Ralatad Services Headquarters: 370 Parker Ave. Ely, Nevada (70s) sso. atas Salt Lake Office: Cascade Energy A Metals CEMENT PLANT -- QUARRY ft MINING EQUIPMENT ROLLING STOCK - ETC. INVENTORY -0- UARRY EQUIP.: CRUSHERS: Traylor 42 Gyratory; (2) A.C. 6 Secondary; 4 Secondary; (2) A.C. FEEDERS: (2) Jeffrey-TraylTunnel; AIR COMPRESSORS: I.R. 85 h.p. Horiz.; I.R. x 177 Belt; 75 h.p.; CONVEYORS: 30 30 X 341' Belt; 30 X 157' Belt; BUCKET PARTIAL ELEVATOR: 69' w(76) Buckets, Link-Be-lt American Aerial 100 h.p.; TRAMWAY: Approx. 15,000' Lon w(Sl) Bucket, 30 h.p. Motor ft Drive; FINISHING PLANT EQUIP.: BRIDGE CRANES: Shepird-Nile- s 7Vb Ton 11 Ton SO Span; Shepard-Nil- ei 65 Span; HAMMER MILL, Williams Jumbo 9, 200 h.p.; TVIer 5' x 8' Screen; Williams Feeder; FINISH MILLS: (2) Hercules 300 h.p.; (2) Bradley 300 ft 250 6 x h.p.; TUBE MILLS, (5) Power-Min- e 22. 250 ft 200 h.p.; (1) T X 22, 300 h.p.; (10) 6' x 22' Ball Mills, 300 h.p.; RUNS, (3) 7' X 132, (3) S x 193, (I) DUST COLLECTORS; (23) SCREW BELT CtNVETORS; BUCKET ELEVATORS; SOIB Unlv. Club Bldg. ISO E. south Temple (SOI) 3S3 2771 Each Day 10:00 A.M. Over $25 Million Acquisition Cost Rotary Drilling Coro Drilling Fully Equipped lor 24 1 25 Equipment Used by The Lone Star Cement Corp. CONCRETE, WASHINGTON Development and Exploration JUNE It Continuing til Sold By Order of Board of Directors DRILLING INC. l, 4, 6 ft 50, 100 PUMPS, (4) Wilder ft 150 h.p.; DRAFT FANS: (6) Buffalo 40 ft 100 h.p.; BLOWERS: (6) Sturtevant X, 50 ft 75 h.p.; COAL PLANT: Dryers, Dutch Oven Type Oil Fired, 18 Tor Cep.: 5' x 50' Oil Fired; PULVERIZING MILL: (4) Raymond Roll Type w100 h.p.; FEEDERS: (8) Bailey; COMPRESSORS: I.R. Duplex 175 h.p.; I.R. Horiz. 175 h.p.; I.R. Vert 50 h.p.; ROLLING STOCK: Shovel Fronts; B.- S. 120-B.E. 50B 54B; B.E. Elect. Well Drill; Elect.; B.E. 27-- T CRAWLER TRACTORS: (2) Cat. 07, 3T; TRUCKS: 1948 Mack 12 Cu. Yd. End Dump; (2) 194S Mack 8 Cu. Yd. Side Dump; TRAILERS: (2) Easton 12 Cu. Yd. Sid Dumps; AIR COMPRESSOR, G.D. 500 C.- F.M. wD-1300- 0 Engine; MACHINE SHOP: American 14 x 102 Lathe; American 30 x 12 Lathe; x Lathe- - laBlond 25 DNILL PRESSES; WELDERS; HYDRAULIC 2' PRESSES; Test Equipment; Etc., Write for Free Detcriptive Brochure MILTON J. WERSHOW In The Northwest lis C0 Anctiineers Asgelcs, Cilifuriii 9B03S S.W. Fifth 2130 Ave., Portland, Ore. 97201 S2S N. IA BREA AVENUE By Chuck Hayward 0 (213) (503) TOen it comes to scientific investiga- tion, the United States is running the 100-yadash in nine seconds, says Dr. Wallace R. Brode, president of American Chemical Society. Dr. Brode was in Salt Lake City last week for the 24th annual Northwest Regional Meeting of the ASC at the Univeristy of Utah. With only seven per cent of the worlds population, the U.S. is turning out 30 per cent of the worlds science as measured by production of technical papers, he said. Together, the U.S. and Russia produce about 50 per cent of the rd be glad when the rest of the world produces as much proportionately as we. That means the underdeveloped nations will have caught up, said the former associate director of the Bureau of Standards. Dr. Brode was science advisor to Secretary of State John Foster Dulles during the Eisenhower Administration, and recommends the discipline of science to entering college students. Students entering college in the sciences have a better chance of completion than those entering the humanities, he said, even though many may switch to humanities during their college years. Whats more, they bring to the humanities a useful exposure to the scientific disciplines, he said. More than 500 chemists from industry and campus were registered for the two-dACS meet which also featured a banquet speech by astronaut Dr. Don Leslie Lind, who mapped some of the mysteries scientists hope to unravel with the information gathered by the astros when they finally land on the moon and return. Several papers presented at the meeting discussed the new minerals recovery programs currently under way on Great Salt Lake. A paper by D. S. Butts, superintendent of solar pond operation for Great Salt Lake Minerals & Chemicals Corp., suggested the highly experimental nature of lake brines recovery. The lakes high magnesium and sulfate content sets it apart from other concentrated salt water bodies, and it poses problems that cannot be solved in a library or at a research bench. Some of the problems for those who would harvest the mineral bounty from the lake: The whims of weather affecting evaporation; the changing chemistry of the brine and salts from day to night, month to month and season to season; leakage or seepage rates of brines in the evaporation pond soils; and the rapid formation of crust on pump propellers, shafts, pipes and parts. In all, the American Chemical Societys regional meeting pointed the way for Americas mining industry as it looked at the recovery of minerals from the sea) from below the surface of the earth, and even set sights on the moon and Ill Williams Inv. acquires Lucky Joe COEUR few worlds science. The firm will sub-lea2,000 square feet of space from the Mr. Nelson, who wll serve as Salt Lake Area Chamber of Comthe firm's accountant, formerly merce, which will occupy the was with the accounting firm of Lybrand-Ros- s Brothers & Mon- building this fall. The Chamber is subleasing its space from the tgomery. Initially, the firm will have Hansa House, which in turn leases from Walker Bank A Trust eight to nine employees, accordto the Co., owner of Walker Center. ing principals. Co. and Mr. Covey formerly was with Blythe & Co. & ter eCwddm project. firm to open in S.L. C The firm Prince, Covey & Co. will open an brokerage in the former Hansa House restaurant at 2nd South and Regent St. (40 East). over-the-coun- Page 3 OIL & MINING JOURNAL 31-21- 222-915- 1 Etc. ay |