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Show Page 2 September 8, 1969 OIL & MINING JOURNAL Published weekly in Salt Lake City, Utah by Utah Scene Publishing Co., 4386 W. 3780 South, Granger, Utah 84120. Mailing address: P.O. Box 19243, Salt Lake Qity. Utah 84119. . Serving he mining and oil industries of the Rocky Mountain Region. Articles and information contained herein are true and factual to the best knowledge of the publisher. Information and opinions published are the sole responsibility of the publisher and do not reflect the attitudes or opinions of the merchants, brokers, corporations and service firms who advertise herein or otherwise sponsor this publication. Subscriptions $10 per year 25 Cents a copy Advertising rates: Display Advertising Classified Advertising Phone: Editor & Publisher. Assistant to Publisher Director of Advertising. $2 col. inch .$2 for 20 words 298-240- 3 or 298-370- 3 Chuck Hayward Enid J. Hayvyard Hal Funk Montanas Empire Mine (Continued from Page 1) remain as mine director for the time being. The Empire Mining Co., Ltd., of London, was organized early in 1886, to take over the Empire Mine and the Whipperwill Mine, owned by two separate groups of mine developers. The mines were incorporated into the Empire Mine and operated for the next ten or 15 years by the Empire Mining Co. According to geological reports, some of the richest ores taken out of the Greater Helena District came an even more famous mine of Drumlummon. The the area-t- he Drumlummon, no longer in operation, was worked to a depth of 1,200 feet, while the Empire and other mines in the shallow mines-- to area were depths of 300 feet. Carver estimated the richest Empire ores were yet to be found nearer the granite base. He said although the original ores of value were gold and silver, ores currently being worked are heavier in copper. from the Empire. Gross Dr. Fritsche acquired the mine .in 1936. He operated the property until lQunder the name of the Rex Mining Co. Following this time the retired MD. permitted lease operations production figures on the mine range from $2.5 million to $3.5 million (at $20 per oz. gold). The Empire is just over the peak of Belmont Mountain from -- EDITORIAL closed down all the mines in the area. In 1956 a company known as the Montana Mining and Milling Co. obtained a lease and option from Dr. Fritsche, erected a 200-to- n mill, repaired buildings, but did no mining. The mining property later reverted to Dr. Fritsche, together with (Continued from Page The state of Alaska puts 450,858 acres of what may be some of the richest oil land in the world up for grabs this Wednesday in the largest lease sale in U.S. history. Bids are expected to total over $ 1 billion-possieven $2 billion-a- n amount so huge that the bank handling the checks has chartered an airliner to fly them to New York and thus allow the state to make an extra $100,000 by investing the money two days earlier. bly The sale is expected easily to surpass the record $603.2 million bid in February of 1968 for federal leases in the Santa Barbara Channel of California. re At 8 a.m. Pacific Daylight Time Wednesday hundreds of oilmen, bankers and government officials will gather in the Sidney Laurence Auditorium in Anchorage to hear Thomas E. Kelly, Alaska commissioner of natural resources, read the bid. Each of thq. bidders will have two envelopes-o- ne with the bid, the other with a cashiers or certified check for 20 per cent of the bids. Successful bidders will have 10 days to come up with the remaining 80 per cent. As soon as the high bidders are announced, Bank of America will collect the checks and put them on a chartered United Air Lines jet to New York City and Chicago. 1) retort will be moved onto the property to be used for bulk samplings and production. He said exploration will be carried on simultaneously by open pitting and trenching, possibly followed by drilling. He said year around operations are possible. Imperial has also purchased rights to the Winnemucca Lake tungsten tailings located on the east side of the dry Winnemmucca Lake north of Nixon, Nevada. The tailings are covered by 160 acres of placer claims located for Imperial Uranium. Ahlstrom said preliminary work indicates there are several thousand tons of material which can be trucked to the tungsten mill of Space Metals Corp., Toulon, Nev., 40 miles east on During the period he spent at the mine, Carver has extended the main tunnel of the Empire from approximately 1,200 feet to 2,500 feet into the mountain. The tunnel is served by an electric tram and mucking machines all in good condition, Carver reported. County, Nevada. said gelogical reports indicate the presence of silver and tungsten in the rocks of the area which consist of Ahlstrom 1-- Another tungsten property obtained by Imperial are options on 12 unpatented silver and The north slope has been swarming ever since with geologists and exploration equipment, some of it protected by armed guards. mapping and sampling followed by an exploration project to develop the silver and tungsten ores on the property. Work .is currently under way at the property. HAS YOUR I TRANSFER COMPANY BEEN PUTTING YOU OFF I I I STATE TRANSFER AGENCY. INC. I 321 Boston Building I Telephone (801) 322-557- I 9 SALT LAKE CITY, UTAH 84111 Circular. FOR UTAH RESIDENTS ONLY 5,000,000 SHARES COM TEL, INC. A Utah Corporation COMMON STOCK Com Tel, Inc., is devoted primarily to the development, manufacture and sale of computer components and other electronic equipment, and exclusive manufacturing and distributing of new products in the electronic field. PRICE PER SHARE 10 Cents Copies I We Treat Each ACCOUNT Like Its Our Only0 ACCOUNT This announcement is neither an offer to sell nor a solicitation of an offer to buy. any of these securities. The offering is made only by the Offering banks on which they were drawn, while the jet continues to Chicago, and possibly Dallas, Houston, or other major centers if checks were drawn on banks there. silver planned to do geological Mineralization is associated with the contact area, he said. The only development on the property consists of a few shallow old workings from about qJ a sampling from the workings made Aug. 25 of this year ran 51.90 ozs. per ton. He said it is mafic dikes and plugs. Since most of the checks are expected to be issued on major New York banks, the jet will head there first. Messengers will be waiting to speed the checks to the The oil land lies along Alaskas tundra-covere- d Arctic north slope near the Prudhoc Bay field where Atlantic Richfield Co. and Humble Oil Co. struck the richest oil find in North American history in 1968- -a field conservatively estimated to contain five to 10 billion barrels. Ahlstrom said Triassic limestones which have been inttuced by a series of NEW ISSUE Alaska will be able to invest the funds as soon as the banks pay on the checks. With a minimum of $200 million at stake, a return of 9 per cent would earn the state about' $50,000 for every day the collection process can be speeded up. 1900 which encountered some rich silver ores as well as good tungsten scheelite showings, Ahlstrom said. tungsten claims just east of Fencemaker Pass in Pershing " all improvements. Imperial Nuclear Largest U.S. lease sale off-sho- until Executive Order L 208 of the Offering Circular may be obtained from the Underwriter Call or write: FIRST FIDELITY UNDERWRITERS .249 East Fourth South Salt Lake City, Utah 521-680- 0 I |