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Show September 15, 1969 Northlode acquires 312 HILLS, trailers and miscellaneous BEVERLY Calif.-Northlo- Exploration, de a Ltd., California-base- mining and oil company, announced the of leases from 312. oil and gas Atlantic-Richfiel- d Co. An agreement in principle has been reached with Occidental Petroleum Corp. to drill into these leases from the Occidental Sawtelle Field drill site. Orr also announced that Northlode exercised a mining option on 26 mercury claims at the Midas Mine, Nev., due to the successful drilling results obtained under Northlodes sampling option. The cost of this acquisition is $500,000, payable in Northlode stock at market price. An agreement hasbeen reached to purchase equipment, for $175,000 in an additional 109 claims in the same area, including a mill, electrical generating equipment, Other new ventures by The acquisition of the leases Atlantic-Richfiel- d Hamilton Mine in the Golconda Mining District. stock and cash. d Canadian acquisition .Page 5 OIL & MINING JOURNAL Jackson Mountain Mining Co., Northlode in the oil, gas and Nev., for an undisclosed amount mining industries, all subject to the approval of the Vancouver of stock also was announced. The Jackson Mountain mining Stock Exchange and other property consists of a large regulatory bodies, were number of claims in northern announced by J. J. Orr, Nevada and adjacent Oregon Northlode president, in Vancouver at the companys territory, including mercury annual meeting of shareholders. claims in Glass Buttes, Ore.; Bottle Creek, Nev., and Lark The 312 oil and leases are Sawtelle lease, then to the former Atlantic-Richmon- Bardsdale Prospect, Ventura County, Calif., at a cost of d leases. $200,000. The limited partnership will earn a working interest in the Occidental test well. The cost of the first phase of the drilling program is $300,000. Northlode - Me Farland also will drill in two additional oil and gas fields, the Arcade Prospect, Yolo County, and the An acquisition of Me Farland Oil by Northlode, previously announced by Orr, is subject to the receipt of a satisfactory United States tax ruling. The total of $500,000 will be provided by the limited partners, with Northlode contributing the leases. gas Mine, near Midas Mine, Nev., which produced 200 flasks of mercury last year. The Glass Buttes claim also includes a mill and equipment which will be relocated to the Horse Canyon Mercury property located in the Wilkins Prospect in West Los Angeles near Occidental Petrolium Sawtelle Oil Field. Sawtelle produces 4,000 barrels of oil and three million cubic feet of gas per day. in Nevada. Farland, a limited drilling partnership formed out of Northlode and Me Farland Oil Co., with Northlode as the general partner, will contract Occidental Petrolem to slantdrill first to Occidentals Northlode-M- c The Jackson Mountain acquisition also includes in Nevada 26 silver lode claims in the Manula Mine, 18 copper-gol- d lode claims in the B-- Mine and 38 copper lode claims in the D RAY W. BRADFORD Vice President & General Manager - invites your inquiries on: INTERNATIONAL SILVER MIC & PINECO Colorado mineral output Colorado's mineral production gained four per cent in 1968 with half of the counties of the state showing increases, according to the UJS. Bureau of Mines. Value of the states mineral production went to $359.5 million last year from $346.3 million the year before. counties had an output valued at $1 million or more. r Thirty-fou- Molybdenum replaced petroleum as the leading production. commodity last year with a gain to $100.3 million in value from $84.7 million in 1968. Petroleum production value was down to $94.2 million from $99 million. Petroleum was the leading commodity in the state from 1948 to 1967. . Colorado led the nation in output of beryllium concentrate, molybdenum, tin and vanadium, and was second in carbon dioxide and tungsten Molybdenum and sand and gravel established new highs in production. msees? The state produced 32 mineral commodities last year against 34 in 1967 and 18 of the minerals had an output valued at over $1 million each. Value of uranium oxide production was down slightly to 0 GES50 ovy srl $ DSt t $20,009,000 from $25,920,000. Copper production in the state was down to $2,888,000 from $3,053,000. 9 ."ade ":? j.v.i Cii-- ,r to c:rrv u ic Crown Reserve leases claims to ASARCO Clinton C. Jenkins, president of Crown Reserve Mines, Inc., Salt Lake City, has announced unpatented lode mining claims, known as the King Tut mining claims, located northwest of Delta, Utah. that Crown has given American Mr. Jenkins said the lease is for a primary term of seven Smelting & Refining Company (ASARCO) a lease with an option to purchase Crowns gold prospect in the Detroit Mining District, Millard County, Utah. The prospect consists of 18 years and provides that ASARCO will pay advance royalties to Crown aggregating $12,000 during the first lease year and $12,000 during each Thanksgiving holiday in . c M A 59 per dble. occ. (married couples, 25 or older) PAYS FOR EVERYTHING Available in Quandrants or Full Cirde Damped & Undamped the agreement specifies. (circle is adjustable and can be set magnetic deviation in your area). Shows level, slope or grade within one degree 160 Broadway New York City, N.Y. 10038 (vertical scale is 'S.- 3 Days2 Nights for is is $ low The advance royalties will be credited against a production royalty varying from 2 to 25 on net smelter returns of all ores produced from the property, Jenkins said. The property may be purchased by ASARCO for $450,000 less all royalties paid, Shows direction to one degree '.'i fa. successive lease year. graduated both grees and grade percent). in the BROKER-DEALER- S Market Over-The-Count- er Principal: Martin Ciment Trader: John Wells We ore Eastern market makers in the following securities: One of the Intermountain areas most complete engineer- ing & survey supply houses. - V . FOR FREE INFORMATION NOW! CALL 322-249- Flico 1 or writ i H 9 ' 5 a. w y jr if v TT k'i Atomic Fuel LesStuds 0v r A. y i S , A 4 f 'TT 7j WE INVITE YOU TO VISIT OUR OFFICE OR CALL FOR QUOTES 245 SOUTH . STATE STREET 10 East 8th South Salt Lake City, Utah Bt Guild (iof America, Inc. 212 349-721- 0 Salt Lake City 1, Utah 801-364-78- 23 |
