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Show nn-circulat,N- c i t i Vol. 1 December 1, 1969 No. 40 25 Cents per Copy KM V & Crest Resources1 atmouRces drilling program 5-w- ell Crest Resources, Inc., a Salt Lake City corporation, has just h interest in acquired a a five-we- ll drilling program to be conducted in Colorado and Nebraska, Malcolm F. Justice Jr., president reports. one-eight- In a letter, Mr. Justice said the drilling program will take place in the petroleum-ric- h Denver-Julesburg basin of eastern Colorado and western Nebraska which is dotted with scores of producing wells. The wells will be drilled on five prospects totaling 8,106 PRINCIPALS OF CREST RESOURCES, Robert P. Kunkel, left, F. Justice Jr., look over map of the and Malcolm Denver-Julesbur- g Basin of Colorado and Nebraska in which the drilling program, and, later company will take part in a five-we- ll ll in 1970, a drilling program. 10-we- Horn to get The State concluded has Department negotiations for West Germany to purchase $50 million worth of enriched western uranium, according to Sen. Wallace F. Bennett, WASHINGTON h. The sena tor said an agreement had been reached whereby the uranium would not only be purchased in the United U-o- re States, but also must be mined locally. The domestic uranium market, which is now somewhat constricted, would be helped by these purchases, Sen. Bennett said. They will contribute to a more healthy uranium industry, aid the U.S. balance of payments and be of special economic health in uranium producing states such as Utah. acres, with a five well total of 29,500 feet, averaging just under 6,000 feet per well, Mr. Justice said. 10-we- He said Raymond Jacoby, a Denver Actually. Phelps Dodge Corporation's new open pit mine at Tyrone has been in operation for several months. Developed at a cost of more than $100 million including mine, concentrator, and support facilities the Tyrone min$ will initially product 55,000 tons of copper in concentrates annually, increasing Phelps Dodges total mine capacity by 20 to about 330,000 tons a year. That of the represents about 20 nations total copper mine capacity. Phelps Dodge is the second largest copper producer in the United States. with geologist Denver-Julesbur- g many in the basin, has experience years the five drilling prospects. Mr. Jacoby, formerly defined with United States Smelting Refining & Milling Company, will supervise the drilling. a geologist The drilling program is 10-we- 10-we- opens mine Phelps-Dodg- e of the TYRONE, N.M.-O- ne nations major copper mines was formally opened Sunday at an open house" for the general public and members of the press. scheduled to commence Dec. 1 0, Justice said. Mr. Justice announced that Crest Resources has agreed to fund a ll drilling program in the Denver-Julesbur- g basin with Mr. Jacoby in 1970. He said Crest will have a substantial carried working interest in the ll drilling program. Lease acquisition for the ll 1970 program will commence January 1970, with the first well of the program scheduled for drilling later in the year, Justice said. At the open house. Phelps Dodge Corp. executives headed by George B. Munruv, president and chief executive officer, Warren E. Fenzi, executive vice president, John A. Lentz, vice president and general manager, Western Operations, W. W. Little, assistant general manager, and Richard T. Moolick, manager, Tyrone Branch, were hosts to neighbors from nearby New Mexico communities. Those attending were served a barbecue lunch and then were taken to vantage points from which (hey could see mining operations in progress in the open pit and watch the broken ore crushed to a fine powder in the crushing in and plants the into mill processed concentrates containing copper. 20-3- 0 MUNROE POINTED out that Phelps Dodge has been involved with mining in the Tyrone area since 1900. Its early copper mining operations were located in an area that today is within a portion of the pit outline of the new mine. underground He also pointed out that the new mine has created some 420 new jobs at Tyrone, representing an annual payroll of about $4,330,000. In addition, a new lake has been created which has been optioned to the New Mexico State Game Commission to be made available to the public for fishing and recreation. Phelps Dodge started the exploratory drilling program which led to the present Tyrone mine about 20 years ago. Silver Eagle will add capability for uranium Silver Eagle Mining MOAB Lake Co., Salt City, announces it is planning to add a uranium extraction circuit to its mill 27 miles east of Hite Crossing in San Juan County, Utah. Silver Eagle, which took over operations of the Superior Contintal Corp. mill and recently shipped 86,240 pounds of cement copper contrates to the Phelps-Dodg- e plant at Douglas, Ariz., says some of the copper mined by the firm has uranium values which could be recovered. The 40 tons of copper concentrate were 70 to 80 per cent pure concentrate. The mill was acquired from Superior Continental of Hickory, North Carolina, which for the sale acts as broker-ageof the copper concentrates. nt The company is currently working four of its San Juan County copper properties and is actively enged in drilling and exploring many of its uranium and copper properties that are situated in San Juan, Grand and Emery counties, Utah. The company said details of adding a uranium extraction circuit to its present copper leaching facility have been worked out with the Atlas Corporation of Moab, Utah. The company is currently processing 100 tons of copper ore per day and employs 16 persons at the mill and in mining activities. The company was organized in May 1969 under Utah laws. Officeers are Jim C. Butt, Montilcello, president; John D. Adams, Moab, vice and James Halamandaris, secretary, president, treasurer,' Pride, Utah. COPPER LEACHING MILL of Silver Eagle Mining Co. in San Juan County, Utah, has a n plans to add a uranium-extractio- 100-ton-per-d- ay capacity. The company circuit to its operation. 1 ( |
