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Show Page 4 OIL & MINING JOURNAL MARCH 2, 1970 Uranium Services reports gold near Carlin John L. Anderson, president. Services, Inc., Salt Lake Gty, has announced the discovery of gold values on its property near Carlin, Nevada. In a letter to shareholders, Mr. Anderson said the discovery was made by a Utah Minerals Co. Uranium drill rig working Uranium Services property which has been a gold producer in years past. Former production was from dredging and placer mining, Anderson said. Anderson said Utah Minerals has plans to start drilling test holes on 320 acres to the east of the discovery property on which Uranium Services has acquired a five per cent interst from Southern Pacific Railroad. In other company activity, Anderson reported that the companys first oil well, near Rangely, Colo., is producing five barrels of oil per day. Anderson said initial production from the well was 16.2 barrels per day, but it has been a very cold winter at Rangely this year with temperatures dropping to 18 degrees below zero, slowing the production. He said Uranium Services has acquired another 40 acre oil lease adjacent to the producing oil well and is presently drilling another well. The well is known as the John E. Schumacher No. 52 , and presently down 2,515 feet of its proposed 3,900 foot depth. Government-Husky- Completion is expected in early March, Anderson said. Uranium Services, Monument Uranium, Red Mountain Uranium and Radiore Uranium each own a 10 per cent interest in the production from the well, Anderson said. The company started drilling its third well on Feb. 1st, Anderson said, also near Rangely. The well, known as the John E. Schumacer No. 53 Government-Husky- , will be drilled to a depth of 2,500 feet. The same four companies each own a 10 per cent interest in this well, Andeerson said. Anderson said the company has also acquired a 50 per cent interest in a lease on 960 acres of ground at Rozel Point, Utah. The lease is on an oil asphalt deposit, and the company is considering the possibility of drilling an oil well on the lyase in April, he said. Oil has been produced from the deposit since 1905. Shield to reopen Utahs O.K.Mine The O.K. MILFORD, Utah Mine west of here was due to be opened March 1, two months ahead of schedule. And the mill being renovated will be ready to process copper ore from the mine in April. These announcements have been made by Ralf Kleine, general manager of the Utah Mines Division of Shield Development Co. When we began operations here early in January, Mr. Kleine said, We thought it would be May and possibly June before we could start processing ores. Unusually mild weather has helped us move much faster than we had anticipated. Equipment for the mill and mine is being shipped from Elliott Lake, Ontario, Canada. The equipment, manufactured in the United States, has been used for Shield Development operations in Canada. Mr. Kleine also announced appointment of Troy Ennis of Terlingua, Texas, as mill superintendent. He was sheduled to arrive in Milford about March 1 to 'assume his duties. Jack Boundy is consultant, and in charge of operations when Mr. Kleine is out of town. Silvex Indus, reports acquisitions Robert K. Ipson, president of Silvex Industries, Salt Lake City, has announced the acquisition of Computer Programming Services, Inc. DRILL RIG LOCATES GOLD VALUES on Uranium Services property near Carlin, Nevada. Further drill tests are planned in area. of Colorado. Mr. Ipson said the corporation was acquired through a transfer of stock. He said Computer Programming will be operated as a wholly owned subsidiary of Silvex. Computer Programming has been in existence for three years, Mr. Ipson said. He said its primary business is establishing programs for inventory controls, billing and disbursements for all kinds of commercial and industrial business entities. Mr. Ipson said Silvex has also entered into a contract to purchase three motels in Salt Lake City. The three motels Capitol, Travelers and Tower showed a net profit in 1969 of $105,000, Mr. Ipson said. 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 November 3, 1969 New Issue 10,000,000 Shares Common Stock ilnlDD H00DGpy B OdDGo Con ($0.02 Par Value) Price $0.03 Per Share Copies of the offering circular may be obtained from the undersigned in any state in which the undersigned may lawfully offer these securities. aSeo(eeeeed'.cfic. 12 Exchange Place Sait Lake City, Utah Phone 521-672- 0 Profits an Image Build Create 6 Kteflag) jteaEBgfl DISPLAY AD Only $2.00 a column inch. Deadline: Wednesday proceeding desired publi- cation date. Call: and one of our creative represen3 tatives will assist you. 298-240- |