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Show Page 2 DaOGOdl Klfaiflo a t ilftteg) JtecoHBgifl . Wyo. -- Alfred president of Vipont Mining Co., announces that National Lead Co. of New York LANDER, Published weekly in Salt Lake City, Utah by Utah Scene Publishing Co., 4386 W. 3780 South, Granger, Utah 84120. Mailing address: P.O. Box Eik-rby-, 19243, Salt Lake City, Utah 841 19. City and Vipont have entered into an agreement for the exploration and development of a 2,500-acr- e group of uranium claims located in the Gas Hills mining area of central Wyoming. National Lead will provide the funds necessary to drill and geologize the claims furnished by ViponL IF A commercial ore body is . Serving the 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 opinioiis 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. GB Advertising rates: Display Advertising Classified Advertising Phone: $2 col. inch for 20 words .$2 298-240- 3 or Editor & Publisher. Assistant to Publisher Director of Advertising. 298-370- 3 Chuck Hayward Enid J. Hayward Hal Funk UDITORS NOTH: The following is the abstract of a paper, The Role of the Prospector in Mineral lixploration" presented by It. G. Stevenson, a consulting geologist from Vancouver, ll.C. at the Canadian Institute of Minina and Metallurgy convention in Kimberly B.C., October 24-25. Fifty years ago a prospector, financed by the local grocer, armed with a gold pan and a pick and using a mule for transportation made mineral discoveries whose importance was often readily apparent. Today the prospector, financed by a multimillion dollar company, transported by helicopter, armed with sophisticated geological devices and geochemical kits searches for mineralized bodies which arc concealed or whose importance is'not readily apparent. Discoveries today are in most instances not made on the ground. They arc recognized in the laboratory or in a drafting room after the data and information from geological, geophysical and geochemical surveys have been planted and correlated. This recognition may come a month or even years later when a geochemical sample or a geophysical response or a piece of float or drill core suddenly assumes significance. Due to this time lag and the many specialists and technicians who have become involved in the many logistical, accounting, legal and tax problems in exploration it is is becoming increasingly more common to give credit to mining companies The chances are the new mine will bear the name of the president or the chairman of the board of the mining company rather than the prospector who collected the geochemical samples, who recorded the readings on the dial of a geophysical instrument, or who recognized the significance of an earlier discovery. 01? P 3(3 Nuclear recently announced that it had discovered two trends of uranium on this tract at a depth of about 1,100 feet. It was found, Ellerby said, the two companies will share the profits and expenses of mining and milling on a basis of 60 National Lead and 40 Vipont. National Lead is the operator of the project and now is drilling on an initial phase of the exploratory program. This National Lead-Vipo- reported that ore grades vary from .13 to 2.6 on one trend and from .46 to 1.05 on the other. National Lead is making a preliminary investigation under the agreement on several other mineral properties and interests owned by Vipont in Wyoming, Colorado and Utah, Ellerby said. nt adjoins another project claim group owned 3,800-acr- e by Vipont and leased to American Nuclear Corp. under a royalty agreement. American DG9 Continued from Page 1 Tannenbaum, a Salt Lake City public accountant, was named receiver. The firm has been closed down since Oct. 1 after federal court issued a permanent handed the and SEC injunction down a suspension order. The SEC had announced earlier it sought the permanent injunction for alleged violations of federal securities law by the firm in distributing unregistered shares of Top Notch Uranium and Mining Corp. The firm consented to a United Park City Mines Co. lost $158,773 during the third quarter compared to a gain of $91,406 for the year ago quarter, Clark L. Wilson, president and general manager, has reported. said that while operations of the mine had improved during the quarter. Wilson INTERPHASE Registrar 30-da- broker-deal- & without admitting the allegations of the stock that they would have an opportunity to make a claim on their stock and prove their ownership. The stock will be distributed according to the laws of bankruptcy, Weggeland said. He said as a general rule, street stock or stock entered in the name of a company would be subject to the bankruptcy distribution unless individuals could prove unencumbered SEC complaint. Herschel J. counsel Saperstein, for the firm in the bankruptcy proceeding,1 explained that a Chapter 1 filing is intended to afford the court more latitude in finding the best solution for This a is problems. distinguished from a straight bankruptcy proceeding, which is limited to liquidation only. Gail Weggeland, chief of the companys mechanical of specific ownership certificates. l$ss problems improvement encountered in the main shaft in the second quarter continued through the third. Expectations are that there will be an in the quarter, he said. The loss figure $76,756 depreciation fourth includes a allowance for and amortization. 3 WE ARE PLEASED TO ANNOUNCE JERROLD L. JENSON IS NOW ASSOCIATED WITH US AS AN Transfer ACCOUNT EXECUTIVE Professional Stock Transfer & CO. WILSON-DAVI- S Agency 37 Eait'Fint South Salt Salt Lake City 322-169- but registration, er of the SEC, reassured individual holders of Salt Lake City office of its suspension y IPeurlk SdOv ISDinu Lolct City, Phono: 6 Utah 841 1 1 363-761- 4 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 Circular NEW ISSUE imoca STOHS KHSSH have found a logical and systematic sequence of events lead up to the opening of a new mine. A mine is made as a result of a series of discoveries which are necessary to advance the prospect further towards production, one stage at a time. PHICE PER SHARE of the difficulty of recognizing significant or significant data and information in believe there has been a tendency to exploration, overlook the valuable role of the prospector and others who participate in the events that lead up to the making of a mine. FOR UTAH RESIDENTS ONLY 6,000,000 Shares I I t rather than to individuals when an exploration program turns up a mine. mineralization 3 Subscriptions $1 0 per year 25 Cents a copy Because November 10, 1969 OIL & MINING JOURNAL Copies of the Offering Circular 10h may be obtained from the Underwriter. FIRST FIDELITY UNDERWRITERS 249 East Fourth South Salt Lake City, Utah my O JaI-OoO- |