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Show PAGE February 22, 1955 The Western Mineral Survey, Salt Lake City, Utah TWO Sun Uranium Announces A 50-5- 0 Agreement (Continued from Page 1) Company, Oil Incorporated and others. These newly acquired claims adjoin to the south of Sun's block. This block now comprises 133 claims. If the loan is granted Sun will match the Gov- ernment by putting up 25 per cent of the amount obtained .This area is surrounded by major is and uranium companies, along the Lisbon Fault. A recent strike to the south of the property has enhanced the value of these claims. The potential of the group is tremenodus. Standing Claims Utah: Sun recently sold Section 16, Rico Stock Issue Chute Canyon Expires Feb. 28th Ships 69 Tons Stockholders of Rico Argentine In Jan. Mining Company are in process Of Ore of entering subscriptions to 70,395 shares of Rico Are gn tine stock at $4.25 per share. Subscriptions will close Feb. 28. Stockholders of record on Jan. 14 are entitled to one right for each share of stock held. The subscription is based on 12 rights to subscribe for one new share of stock at $4.25 per share. Rico Argentine stock was $6 per share for a few weeks and dropped off recently to $4.75 bid and $5.25 asked. Subscriptions are handled by the Guaranty Trust Company of New York. An offering circular has been issued through the office of Hogle & Co. lit is expected most of the subscriptions will come in at the last minute. Township 37 South, Range 21 East, Salt Lake Meridian, San Juan County, Utah, located south of Blanding, Utah, to Lucky Star Uranium Company, for the sum $265,000 Ore of $25,000, payable in cash and stock. Blocked Out Dixon Claims Baggs area, Wyoming: Indian Queen Uranium ComSince the company opened up pany is reported to have $265,-00- 0 one-hamillion tons of low grade worth of good ore blocked uranium ore on our Dixon claims out several milling companies have taken samples of this ore for the purpose of experimenting and acquire properties. This step will working out a method of up- undoubtedly be of considerable lf grading this huge $3,500,000 de- importance to affairs of the composit. No work has been done on pany in the future. these claims since November on Prospects of the company are account of climatic conditions. good. The recent contractual arOperations on the property will rangements made and enumercommence as soon as the snow ated should prove the properties clears. Geologists believe below carefully chosen by Sun engithe low grade ore there should neers. Officials report every piece be a vein of high grade. Core of property owned by Sun is a drilling operations will commence potential producer. Early results in the next six weeks to determ- are expected from these claims. ine the presence of high grade Officials say Sun should be in ore on the claims. There are sev- ore production within the next eral other hot areas on this prop-et- y 90 days. Announcements of new which will also be drilled. developments will be made from Arizona time to time. Definite facts, not Suns geologist has just return- rumors, are promised. The new company is less than ed from the Navajo Reservation where applications were filed by 90 days old. During that time the company with the Indian through negotiations the comAgency to give Sun the right to panys liquid position has been prospect on the reservation and bettered by over $25,000. SpencerDiscoveryBeingDeveloped Officials of Spencer Uranium Corporation announced they believe they have made a strike of excellent uranium ore which they regard as a continuation of the channel of ore that predominates the fabulous Vanadium Corporation of America's MonuFrank L. Morgan, President of No. 2 discovery, from which many millions of dollars Chute Canyon Uranium Com- ment worth of ore has been mined. pany, upon his return from the mining conference in Denver, ColAccording to a recent newsorado, made a complete report to a contract has Buy Near Lucky Me the monthly meeting of the direc- paper report, Elaterite Basin Uranum and tors concerning operations of the been awarded to Enoch Smith or opfor Sons 1. mining stripping company since January Walters Uranium are reported erations and work is to start in to have acquired a participating In a letter to stockholders it the near future. The extent of was announced drilling opera- this ore body cannot be deter- interest in 24 uranium tions on the Chute Canyon claims mined until the stripping and near the Lucky Mac Claims in in the Temple Mountain area, mining operation has had time Gas Hills, Wyoming. Officials in the area near the existing tun- to prove the property. say they believe the claims will nels, revealed an ore body apSpencer Uranium arranged on prove as fabulous as those of proximately 150 feet in width a Monday, a merger with Uran- Lucky Me. and 288 feet in length with Chief Company on a basis ium ore thickness of commercial of feet. to 7 fifty shares of Uranium Chief ranging from 3 While weather conditions have for one share of Spencer. The hampered drilling and mining op- final merger will depend on the erations, the company shipped 69 final action of 'stockholders of tons of ore during the first three Uranium Chief. weeks of January. It is expected Spencer Uranium was privately regular ore shipments in excess financed whereas Uranium Chief of 125 tons per month will be was publicly financed, Sid H. made as weather and road condiEliason, is president of Uranium tions permit Chief and a director of Spencer The last settlement sheet re- Uranium Corporation. ceived on ore shipped showed an is also reported The assay of .33 uranium oxide. Mr. to haveCompany a made strike on their Morgan reported that both tun- additional property near Bluff, nels on the Little Erma No. 2 Utah. Claim are now in commercial ore and it is anticipated additional men and equipment will be emChute Canyon Uranium Comployed to increase production. pany stock trading on the local The companys drilling and de- over the counter market has envelopment program has indicated joyed an increase in excess of the possibility of additional ore 10c per share the past two weeks. deposits on adjoining claims and drilling operations are expected to be resumed shortly. In addition to uranium the company has what appears to be a sizeable body of cobalt ore. Negotiations are being conducted with several concerns in an efFIRM fort to develop a market for this ore to the extent that it can be We Specialize In Uranium Underwriting separated from the uranium bearing ore. Company officials are optomistic about the possibility 10 West 2nd South Phone of commercial production of cobalt ore, assays .of which have TWX 299 Salt Lake City, Utah run high as .27 cobalt NED J. BOWMAN COMPANY BROKERAGE 5-53- GOING OVER THE TOP . . . 81 LIFE INS. STOCK OFFERING This offering is made at $30.00 per share. (Note: Minimum Block, $300.00.) Offering circulars may be obtained by filling out the coupon below or by contacting the following underwriters: FRED J. BACON, JR., Salt Lake City, Utah LEONARD M. OLSON, Salt Lake City, Utah DEAN F. EGBERT, Salt Lake City, Utah MILLARD H. MICHAELSON, ISSUER Ogden, Utah Sylvan Life Insurance Company 410 UTAH SAVINGS & TBUST BLDG.. Salt Lake City, Utah NAME ADDRESS CITY AND The public offering of 20,000,000 shares of Great Chief Uranium Company is now being completed. This offering of one cent shares will end this week. Inc., in behalf of Great Chief Uranium Company, wishes to thank all of you who have so generously supported this issue. Offer to sell made only through offering circular. . Havenor-Cayia- STATE. THE NEW AND BETTER ALL s, PURPOSE GEIGER COUNTER IT SNOOPS IT SNIFFS IT POINTS IT PB0BES IT LOCATES AND PICKS UBANIUM FB0M THE AIH The Universal Counter Member Salt Lake Stock Exchange 303 Newhouse Bldg. Salt Lake City, Utah Phone Teletype 4-64- 47 SU-1- 69 . 82 Beaver Street New York City, N. Y. Phone Bowling Green Teletype NY-- 1 --491 7 9-50- UNIVERSAL COUNTER COMPANY Phone 1479 South Main 81 Salt Lake City, Utah 84-11- 33 |