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Show Sept. 22, 1969 Page 5 OIL & MINING JOURNAL Moss bill would help mining WASHINGTON - Two amendments to the Tax Reform Bill have been prepared by Sen. Frank which . Moss, he said would greatly assist the mining industry of Utah. The first would give the same percentage depletion allowance for minerals taken from the brine of Great Salt Lake that those minerals now receive when extracted from land resources. D-Ut- ah, production as now received by crude oil coming from wells. The lake minerals are exhaustible and should receive the same consideration as minerals extracted from dry land, said Sen. Moss. If I am successful in gaining passage of this amendment, the future industrial development of the lake will be termendous. Already, under the present arrangement, industry is The second would allow the beginning to develop with the same depletion allowance for oil Great Salt Lake Minerals and shale after the retorting stage of Chemicals Co. located west of dniudkiini Ogden and the proposed Magnesium Project in Tooele County. He said the former has already spent $12 million and by 1972 few I the total development is expected to be $40 million and employes increased to between 300 and 350. Sen. Moss said the only way shale oil depletion allowances can be made equal to oil depletion allowances is for it to pertain to oil shale at the time the product is deported in its liquid form. By Chuck Hayward Deseret News Business Writer Arnold Irvine has reported on what a Union Pacific Railroad Company geologist terms a tremendous breakthrough in the underground retorting of oil shale. Edward R. McAuslan, special projects geologist, Natural Resources Division, Union Pacific, is enthusiastic about the results of the experiment, conducted by the U.S. Bureau of Mines and the University of Wyoming combined in the Laramie Petroleum Research Center. Manhattan takes chips in Northwest Passage gamble Union Pacific is interested in the test because the company owns the mineral rights on the test site located The entire about seven miles west of Rock Springs on is interested in the underground Rocky Mountain area oil because is estimated that billions of of it retorting gallons of oil are locked into oil shale throughout the Region. 1-- The tanker Manhattan has America for the participating oiL computers later this month. Hass said that the number of times proved to be the winning hand companies. in Humble Oil and Refining The Manhattans historic the ship became stuck in ice and the ice pressure it encountered Companys $39 million gamble to find a Northwest Passage to voyage does not prove that the would be two dey factors. . northern route is feasible for The Manhattan, fitted with tanker shipping, but it does clear the special The 1,002-foo- t equipment, steamed into Point Barrow, way for a decision on the routes was picked as the best ship we commercial possibilites. Alaska, the gateway to Alaskas Humble could find in the short time span spokesman said that no rich northern oil fields, after a decision would be made until given us to gather the data we grueling trip through needed, Hass said. He pointed waters and Arctic winds from the early 1970s. out that the Manhattan is not the Atlantic to the Pacific Stanley B. Hass, project anywhere near the new ships we Ocean. manager for Humble, told would design to sail these seas, battle to newmen that data gathered on should the new passage prove After an free itself from ice in the voyage would be fed to feasible for commercial use. treacherous McClure Strait the i'.'.W.V; Manhattan returned to Viscount V' breenland Melville Sound on its alternate route through the narrower but Prince of Wales less the first become Strait to commercial ship to complete the Alaclfsi The test, which consisted of igniting a fractured bed of oil shale, yielded as much as four barrels of oil a day, G.F. Dana, Laramie, geologist for the Bureau of Mines, reported. One of the obstacles faced by oil shale developers has been the disposal of the waste material if the shale is mined and retorted above ground. The volume of waste is almost as great as the amount of shale mined. ice-breaki- ng ice-pack- ed 18-ho- ur The retorting of the shale in its original bed, therefore, is of great interest to those involved in shale development since there is no waste disposal problem with this method. . ice-pack- The experiment began about five years ago with the drilling of 1 1 test holes 80 feet into the bed of Green River shale. Desensitized nitroglycerine then was detonated in the wells to fracture the shale. The fracturing was completed last spring and a propane burner introduced into a central well. The burner successfully ignited the shale, and production of shale oil mist was noted within an hour after ignition. ed legendary Northwest Passage. It has been almost five centuries since sailors began the search for a Northwest Passage above Canada as a shortcut to the riches and the spices of the far East. The new treasure that spurred Humble Oil Companys historic expedition is Alaskas vast oil supply. Within three hours liquid oil began to collect in some of the wells, and all of the monitoring wells were producing within 10 days after ignition. A Northwest Passage open to cut huge tankers would and dollars thousands of miles from the trip around South Measured production during the first two weeks of the test was 25 barrels, according to a preliminary report by H.C. Carpenter, project leader; E.L. Burwell, chemical research engineer, and H.W. Sohns, project coordinator. Tanker Manhattan achieved its goal of being 'first' through Northwest Passage. The propane burner was shut off after five days, but the bed continued combustion on its own for six weeks. To halt the retorting, the researchers pumped nearly 100,000 gallons of water into the wells. Tungsten Corp. buys Arizona claim The Tungsten Corp. of America has purchased 25 Arizona claims bearing from .5 to three per cent Wolframite, a tungsten ore. John H. Sehlmeier, president, said the purchase was made with cash and stock. ARE YOU TIRED OF HOLDING PROMISING PROPERTIES? Aggressive new corporation will assume risk, do active development and begin production. Send description to: JS Consultants P.O.Box 5316 Oxnard, Calif. 93030 The company plans to begin development shortly with actual production beginning in the second half of 1970, Mr. Sehlmeier said. The property, which will be renamed the Mathews Mine, is anticipated to provide silver as well as the tungsten ore. Mr. Sehlmeier announced that this purchase will be followed by several other purchases. The next one is expected to be in Utah. NIW ISSUI JULY 10,000,000 shares Common Stock SILVER FORTUNE MINING CO. 30, 1909 Offering Brie .02 per there This sHiriif is Mis by tbs issuer to boas fide residents of the State ef Utah self pursuit te a claimed exemption from registration requirements if tba Securities Act of 1931 This unouucemeiit is neither in ffer ta sell sera solicitatioi of an offer te hay aay of these securities, this tffifiii haiii Mde only by the offeriig circular. Copies of thn fforlof chtalar My he ebtaiaed from the iiderslgied. Coll or Writ Silver Fortaaa Miiiif Co. 341 Sovth Mail, Soite 512 Salt lake Gty, Utah BOB 321-919- 3 ar 521-297- 9 A 12&JSS1 T 3ES C3 :CURITIES CORPORATION V STOCKS in Broker-Deal- er - BONDS - MUTUAL FUNDS Call for information on; BULLION MONARCH, CONSOLIDATED SILVER, EAST ANTELOPE, INTERNATIONAL SILVER, MIDNIGHT 0010 A SILVER, MODERN MINERALS, NORTHERN RESOURCES 35 NORTH UNIVERSITY AVENUE-PRO- UTAH VO, TELEPHONE (SOI) 375-257- 0 SALT LAKE CITY TELEPHONE 321-444- 4 84001 |