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Show APRIL 13, 1970 OIL & MINING JOURNAL Dawn Mining announces Ore reserves of the Dawn Mining Co. at the Midnite Mine in the Spokane Indian Reservation as of Dec. 31 were estimated to be 429,000 tons averaging 0.23 per cent uranium oxide. This is reported by Newmont Mining Corp. in its annual report. Newmont owns 51 per cent of Dawn; Midnite Mines Inc., of Spokane 49 per cent. Mining of uranium ore was resumed last summer and 174,4000 tons of ore averaging 0.195 per cent uranium oxide were mined and stockpiled before mining was halted for the winter. The first shipment of yellow np reserves U-o- re American Smelting and REfining $9,180,000 during 1969 on the Granduc copper project in British Columbia and that they still must supply an cake (83.10 per cent uranium oxide) from the rehabilitated Dawn mill at Ford, Wash., was made on Feb. 2 of this year according to the report. The mill now is operating at its capacity of 500 tons of ore dailty after a 3 & year shutdown. Co. spent estimated $9.5 million. Production is scheduled to start late this summer. The report said Newmont The report said Newmont and completed its drilling and for the Department of Interior by Salt Lake geologist Dr. John Osmond study prepared and a former associate, David Elias. Dr. Osmond told members of the Intermountain Association of Geologists Monday that the only producing field is the Eagle Springs Reid in Railroad Valley, about 60 miles southwest of Ely. Eagle Springs has yielded two million barrels and has an estimated recoverable 10 million barrels. Admittedly, there hasnt been much exploration in Nevada only 286 wells in 140,000 One of the problems is determing where to look. percent of Nevada is covered by volcanic rock and sand and gravel alluvium. Its difficult to see below this cover. Geophysical techniques dont work the way they do in Texas, Colorado and eastern Utah. The volcanic cover is an insulation that distorts and disburses shock waves used by Seventy-fiv- e sand-and-grav- el geophysicists to perceive subsurface structures. There probably was a lot of oil and gas entrapped at one time in Nevada, they say. But these traps were destroyed by the mountain-buildin- g processes that cracked the entire Great Basin province from Salt Lake oil and gas Reno. The to City escaped and were replaced by fresh water. discovery near Philipsburg, Mont., Leonard W. Smith, a director, said last week. An attorney and mining man who incorporated the firm, Smith said bulldozing uncovered a vein containing a streak of high grade ore from 12 to 14 inches share in : :1 Par Value $ .25) - OFFERING PRICE $3.00 Per Share Copies of the offering circular may be obtained from the undersigned only in states where the undersigned may legally offer these securities in compliance with the securities laws thereof. One AEC well in south central Nevada was drilled to 14,000 surface and water 7,000 fresh encountered feet below sea level. feet from the BONNEVILLE SECURITIES, INC. 601 Kearns Bldg. DeHart, Spokane, assistant secretary-treasure'Roy road Missoula Washington, r. Salt Lake City, Utah (801) 322 3515 Q Megsmtts, MmGaectrJF fitters and others needing rapid data processing... IBDa(0)CsEsy YD'amsffeD wide. Three sample shipments to the Anaconda smelter ran more than $100 a ton in silver, lead, gold and copper, he said. DATACAP HA operators had Early-da- y driven a 150 foot tunnel which missed the vein, he said. He credited the bulldozer discovery to the firms president, Elmer J. Boyce, Missoula businessman, and Stan D. Smith, a director. The company plans a diamond drilling program- to . - determine the extent of the ore body, he said, with work to start as soon as geological work is completed. 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The first computer that is truly modular in concept.. .mating the economics proper software to the proper combination of hardware to provide computing capabilities ranging from accounting to pure science. The first computer that will give you an immediate, visible return on investment The fifstromputer that provides answers at a sensible and affordable cost 968. Kings River Mineral Company beneath much of Nevada. This means there are no traps to capture water underground and hold it place long enough for it to become saline. contractor, is also on the board. a Expenditures on new ventures totaled $59 million according to the report. (70,000 Shares the presence of fresh water r, $1.98. NEW ISSUE Wells drilled by both the AEC and the oil companies confirm Robert O. Walker, Helena, is vice president of the company, Arthur G. Long, Missoula, is and Earl A. secretary-treasure- -- Thisannouncement 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. Silver Lake plans Montana development Silver Lake Silver Mining a new Spokane firm, was Co., formed to develop a new ore . , underground testing programs at the adjoining Ingerbelle and Similkameen copper properties near Princeton, B. G, and now is Nevada has minerals, but no oil Nevada is a good place to look., square miles. And drilling has been concentrated in small areas, for minerals-b- ut not oil! Thats' the conclusion of a with large tracts overlooked. bringing them into production Ore reserves are estimated at 74 million tons averaging 0.55 per cent copper and amenable to open-pi- t mining at a rate of tons 15,000 daily. . Newmont 1969 net income was the second highest in the firms history $64,072,000 or $2.54 a share, compared to $50,343,000 ' for Cost is than you think Datacap Computer Systems of Salt Lake 138 South 2nd East Sait Lake City, Utah FOR INFORMATION 24 HOURS A DAY PHONE: 383-574- 6 |