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Show Vt olorado Seen as Great Thorium Producing Fret Subicriptiai , Offer. See Mail. Duke Page I VeL tall 26; Xe. 6 U. S. Has Doubl' Of Living, E Lake City, reknaiy t. 1955 Editor Sees Bright Future In Thorium v sieves Second Draft Vital Thorium Deposits . .Visumption Is Metal, Minei To Proposed U. Key to Dynamic Economy of S. The people of the United Explore Prison Denver, Colorado, February 5 of living, according to John D. States have a doubled-standar- d Sullivan, technical director of Battelle Memorial Institute, Columbus, Ohio. Speaking on Why We Shuold Use More Metals before the Colorado Mining Association here today, Mr. Sullivan named one constandard as the basic full stomach, or cept. The other standard, which is a key to our dynamic economy, is our consumption of metals and minerals. A a evidence of this luxury standard, the Battelle technologist cited United Stated consumption of basic metals. Our steel consumption is about 1150 pounds per capita, 64 per cent more than that of the next highest consumer. . With 7 per cent of the worlds population, we used 45 per cent of the worlds copper in 1952, 48 per cent of the primary lead, and 39 per cent of the primary zinc. Aluminum is now our second Grand Deposit Mining Commetal in production tonnage, with pany has just filed its semi-annuabout 18 pounds per capita prowith the State of Our use of Nevadareport duction in 1954. for the six months endcement, glass, and plastics is also ing December 31, 1954. expanding. During that period, the report One of the reasons for the lux- states, the company shipped ury standard is that our own peo- 276 dry tons of ore from its mine ple constitute our mass market, in Spring Valley, Nevada, having Mr. Sullivan pointed out. We a gross yield of $19,676.21. utilize domestically nearly 95 After deducting all costs of per cent of our gross production, operating the mine, including dehe said. preciation, taxes, insurance, We convert our crude pro- equipment repair, salary of the duction to ultimate consumer proas well ducts, and then use them. Amer- as labor and supplies hnd other ican industry realizes that mass mine expenses, a net proceeds production can succeed only of $636.34 was realized. when we have mass consumption, Because of poor air circulation, the ore was mined without the use of explosives. During this period, a fire destroyed the hoist house and hoist. These have been replaced, according to the report. ng al engineer-superintenden- t, North Standard San Fernando May Combine Merger of North Standard, 38-ear-ol- d lead and zinc mining company of Salt Lake City, with San Fernando Uranium Company, of Moab was practically completed when the combined boards of the two companies elected new officers. The new company will be named North Standard. George J. Sullivan, president and manager of North Standard, has been elected President of the merged company, with Richard D. Sherman, chosen executive vice president and secretary, and A., W. Clyde, vice president and treasurer. North Stardard is one of the few companies listed on the Salt Lake Stock Exchange that owns uranium claims. The company has been listed continuously on the Exchange since 1917. San Fernando Valley Uranium owns over 2000 acres of mining property on the Colorado Plateau, including the Uravan, Moab and Paradox areas. Officers of the merged company are reported to be working to acquire additional uranium rights on two Indian reservations, said to possess valuable ore dey -- posits. (Continued on Page 4) Oae Tear 63.00 The company expects to explore and develop the ore this year, so that production can be increased. In order to finance this work, a limited amount of treasury stock will be sold, it being offered only to present stockholders at first, the report said. or other inAny stockholder, ' terested person is welcome to visit pur mine, and arrangements for a tour can be made through our office. The second draft of a proposed agreement between the State Land Board, the American Smelting & Refining Company, the State Board of Corrections, and the State Highway Commission, for exploration and development on the Utah State Prison grounds at Draper by the A S & R, has been mailed to the respective groups it was disclosed by Joseph P. McCarthy, attorney for the Land Board. It is believed all concerned are in substantial agreement as to terms of the agreement, and it is now just a question of phraseology, accordlease ing to McCarthy. Local officials of American Smelting and Refining have checked with the Companys main office in New York for approval of the first draft. McCarthy indicated it only remains for two state agencies to come into line, the Road Commission and Corrections Commission. He expects it will be another two weeks before all details are accepted. The lease agreement was prepared following discovery of an anomaly on the prison grounds, with which lead, zinc and copper sulphide mineralization may be associated. The refining company is willing to pay for mining oper-atin- s if they subsequently appear warranted. Indian Queen Buys Claims Near Moab David H. Bullough, secretary and treasurer of Indian Queen Company,- - said he is preparing a letter to stockholders stating that Indian Queen is acquiring some new property, part of which is on a school land lease and part on some lode mining claims. Mr. Bullough said there appears to be a potential there. He said there had been some production on the incline shaft, 65 feet in on the vein. He said the ground acquired is close to Moab and Indian Queen will take possession immediately. ' Found on Grape: Creek Colorado, key uranium producing state, may have an even greater future as an atomic raw material producer, because of thorium. This was forecast by George Q.1 Argali, Jr., Editor of Mining World, international mining magazine published in San Francisco, California, to the thousands of at the National Western Mining Conference in Denver, Colorado. Speaking at one of the first sessions of the meeting sponsored by the Colorado Mining Association, he reported that important thorium deposits in toe form of thorite and other minerals had Blue miners Walters Uranium Lizard Near been found along Grape Creek The speculative appetite of north of Rosita and in Gunnison stockholders of Walters Uranium Countys Powderhorn district. Thorium Company was keenly whetted by AEC as a has been used by the nuclear fuel in an exthe announcement that Continenslow neutron reactor perimental Uranium tal Company purchased at toe Oak Ridge National Labthe Blue Lizard group of 42 uraniSuch a reactor could oratory. um claims in White Canyon for have peacetime application for a reported $6,000,000. The Walpower generation. ters claims directly adjoin those The thorium minerals occur in of the Blue Lizard group. As a veins and could be mined by of trea result the transaction, conventional methods. Concentramendous potential in uranium tion of thorium ores is currently values, is expected to be created done in the Union of South being for companies located in proximknow-hoso technical Africa, ity to Continentals fabulous pur- and chase. Walters stock has recently to experience could be available Colorado miners. sold on toe local on Whats Ahead for Speaking uranium market at about .04c a the Minerals Industries in 1955, share. he said that two new developPreston Reed of Blanding an- ments in automatic mining manounced sale of toe Blue Lizard chines were being watched with claims. He and five other men interest, that new micro" hole of Blanding and Monticello own- drilling and a new electric powed the properties. Gerald Gid-wit- dered rotary percussion drill Chicago financier, owner of would cut exploration costs. 42 corporations of which ContinElectronics, automation, and ental is one, confirmed toe deal human engineering are the fastfrom his office in Grand Junc- est growing segments of the nations industry as a whole, he tion. over-the-count- er z, reported, and illustrated what The Blue Lizard claims include effect their application can have a working mine, the Blue Lizard, on the minerals industry. which has been producing 800 to 1,000 tons of uranium ore for one mnth. It is in the Red Canyon area of the White Canyon mining district, 80 miles west of U-Ore Blanding and six miles from the luscious Happy Jack uranium deposits. Other sellers with Redd are a brother, Robert; their father, J. Wiley Redd, Keith Redd and Leon and Don Adams. The Redds reside in Blanding, toe Adams, in Monticello. Vote on Merger Of 4 Companies Seen Notification has gone in the mails to stockholders of four uranium companies, Trans-WorlRedman, Utah National and Atomic Uranium that a special meeting will be held on Wednesday, February 15, at 4:30 P. M., to vote upon a proposed merger and consolidation of the four uranium companies. Trans - World Uranium, outd, standing producer of the four, has interests in valuahle claims in Apache County, Arizona, over the Utah state line. Trans-Worl- d is reported to enjoy a production of 600 tons of commercial ore per month and to be strategically located close to one of the largest producers of uranium. The merger would result in a strong company, owning or controlling approximately 4,200 acres of uranium properties in Utah, Colorado, and Arizona. Redman stockholders under the proposed merger will Surrender 10 shares of Redman stock for one share of the new company, and Atomic 8 3 shares of Redman stock for 1. The new company is to be Place of Discovery, S00 Level. Grand Deposit Mino known as Sterling Uranium Corp. 1-- Giand Deposit Mine, Spring Valley. Nevada 4 |