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Show Rare Earth Corp. Ready for Bigger Project WESTERN MINERAL SURVEY News 421 Mat 27. 195S The Western Mineral Surrey. May 27, 195S Page Two . CtrraUttoa Vtomm Advertising Chweh Stmt Salt Lak M City, Utah DKNVEB BUBKAU ClreuUtton Newt AivrrtUlof Dearer, OoU. Klttradfe BUg. Bureau Chief KOSMAN LEV IN E With over 25,000 feet of dia mond drilling completed via 48 holes, with the deepest going to 975 feet, Rare Earth Mining Corp. of Canada, in Bancroft reports ample finances are on hand to further its extensive development program which contemplates a shaft to 550 feet n depth and provides for 1600 eet of cross-cuttin- g and drift-ng. . m Entered m second class matter at Bait Lake City, Utah, under Act of March' X 1879. Subscription rate; $3.00 for two yean: $3.00 lor one rear. Please mention Western Mineral Surrey when writing- to advertisers. Advertising rates on application. - Publisher Harry B Miller Editor JAR EN K. McCORMICK Feature Editor O. D. QUIVLAN Adv. Manager FRANCIS JENKINS Contributing Editor I M. HXIJ, At the end of January of this year an adit was started and after drifting 40 feet a vein of cobalt was cut 2 to 3 feet wide and ran 2.50 in cobalt. No further work has as yet been done on this discovery. When the adit reached 270 feet a vein cut and again at 290 a vein was encountered. Average values were 2 U308. At 400 feet in the adit the Spence vein was cut. In For the news of moat significance the mining and oil world. AH news appearing in the Western Mineral Surrey Is obtained from sources believed to ba reliable bat no responsibility la aemtnwl for accuracy of statements. Reproduction of any malarial from this publication must hare written permission from the publisher. 10-fo- ot 25-fo- ot Editorial . .. They Lost Their Money! Work to date consists only of a few slashes with drifting to Hundreds of board room ob- start in a matter of days. Good progress is being made servers recall the tragedy of in The shaft sinking. a few years ago, when a num ber of Salt Lake residents lost partment shaft is down a little their entire savings because of over 50 feet with three stations the unfaithfulness of a local brok to be cut. er, who gained their confidence, The property of Rare Earth then shamefully betrayed them. Corporation is very advanOne individual is reliably re situated for economical tageously ported to have dropped $150,000, mining. A 44,000 volt power line when the untimely and tragic crosses the property and railway death of his broker brought to facilities are available at the light an unhappy story of pecula C.N.A. station at Tory Hill, only tion and perfidy. two miles away. Ample water One Salt Lake man informed supplies can be secured from the writer of this editorial, per two streams which run directly . sonally, that he lost everything he had. lie had complete confi dence in his broker, permitted his stocks to remain in the brok er's possession for a long time, and failed to have securities for which he had paid cash, register ed In his own name. A repetition of the fiscal holocaust of a few years back can be guarded against if those who purchase uranium and other securities will insist certificates be registered in their individual names, and mailed to home ad dresses within a reasonable pe riod of time. This precaution on the part of Individual stock buyers will con tribute to maintaining a healthy, wholesome over - the counter trading market. It will remove tendencies now abroad, which, will attain unless corrected inimical proportions in undermining the aims and objectives espoused by the National Asso ciation of Security Dealers. through the property. The No. 1 vein on which the adit has been driven has been traced for 3,000 feet by diamond drilling from surface. Dave Porteous, resident engineer, re ports that about 25 holes have been put down on this vein to depths of 300 to 400 feet and indicate 1,000 tons per vertical foot of 0.10 per cent uranium and 0.35 per cent thorium, a min eral used in conjunction with uranium in the production of atomic energy and one for which demand is said to be growing. In addition to these two prod ucts the main vein, Mr. Porteoua reports, runs about 60 pounds zirconium per ton. Drilling has also been done on the Cliff zone which indicates a grade of 0.11 per cent, uranium oxide in four holes drilled. Altogether six zones have been outlined. Future Demand for Thorium Indicated by AEC Chief Seagull Maintains 400 Ton Per Month Shipments of Ore Uranium Corporation maintaining its consistent Survey Denver Bureau record shipment of 400 tons ?wtttj Annfhpr indiratinn nf AECs future demand for of ore each month. The company in- a letter from Lewis I. Strauss, AEC Tf Hf rpwalprf Vva s still drilling on the Topaz UlUalUAil ufoc claims in Colorado. chairman, to Governor Edwin C. Johnson of Colorado. Officials said some drill holes The letter, in answer to an inon the Waterfall group of claims quiry by Governor Johnson, showed assays of .70 per cent. Vitro, Arrow stated that the AEC was preAgree The Waterfall group has three pared to negotiate contracts at faces of ore. Workmen as yet On Wyo. Property a price up to $4 per pound for' have been unable to definitely thorium oxide contained in ore determine how far away these Vitro Minerals Corp. and Ar concentrated to 50 per cent thorare from the scene of drilling op- row Uranium Corp. have entered ium content. erations. The drill holes are nto an agreement whereby Vitro The AECs purchases to date, AEC holes, officials said. Minerals has begun operations on Arrow's property in Wyoming. according to Strauss, have been This property Is in Sweetwater for "research and stockpiling The Commission, he county in the Continental Basin, purposes." Good Ore Reported is now added, considering conjust west of the Crooks Gap area, tracts for limited additional In Marble Canyon where uranium production has of thorium for been underway for the past sev quantities over the nextsalts two or Chieftain Uranium Corporation eral months. delivery three Securiyears. expects approval by the Dave Williams, engineer for ties and Exchange Commission Vitroi who out the corporproved "The prices paid are arrived and the Utah Securities Commis ation's Gas mils property, early at by negotiation, but for your sion for an authorized issue of this week moved onto consideration to purchase of equipment 6,000,000 shares. the Arrow property. Williams is mechanical concentrates of thor 4,000,000 shares are to be of in ium minerals, excepting mona- charge of all operations. fered to the public at five cents After making a grid survey on zite, containing 10 per cent per share. two of the 15 claims held by TH02. Adam Mickey Duncan, counsel Arrow, the iVtro company de for the company made the Going prices for 10 per cent cided to drill and block out the thorium concentrates, quoted by ore body to further determine The company has a group of concerns such as Lindsay private claims on the west flank of the he grade and tonnage. Chemical Company, average $1 Drilling operations will com San Rafael Swell and a producmence on the other 13 claims as per pound of TH02 content in ing mine in Cottonwood Creek soon as thorite ores. operations on the two. known as the Cottonwood Mine. The thorium mining potential All of the properties are in the claims are completed. A similar agreement working has Morrison officials heightened interest in the formation, has been entered into by the two West Mountain area of Fremont said. UCA officials report the com companies on Arrow's Indian county, Colorado, where major pany has 50 tons of ore running Creek property in San Juan firms such as Climax, Colonial .30 per cent on the dump. As a county, Utah. These claims lie Uranium, International Minerals result of a stripping operation adjacent to the Moki Uranium and Chemicals Corp., H. L. the company has already shipped properties, where ore shipments Hunt and Lindsay Chemical Co. 88 tons assaying .28 uranium and have been underway for some The AEC has suggested that time. Vitro intends to begin work 2.67 vanadium. Dan R. Garm, owner of Gen on this property within the next persons or companies with thorium holdings contact the Comeral Office Supply Company, is 10 days. or one of the three folmission A stockholder's will be letter president of Chieftan. Don E. in the field: Lindfirms recsent to all stockholders lowing of Bogle, formerly with the Chemical two. next ord within or say the Company, 258 Oil Company and day West Ann There agreements were enter Chicago, IlliStreet, the Texas Oil Company is oper Rare Earths, Inc., Box 488 ed into by Fred Kuhn for Ar nois, ations superintendent. The company has a cash re row Uranium Corp. and Jack Fompton Plains, Nj J.; Maywood serve of $2,500 from an original Horton, manager of Vitro Min Chemical Works, Maywood, N. J. guidance, the prices are on the $5,000 front money. Empire Se erals Corp order of $4 per pound of TH02 curities Corporation is under content in a crude product conwriter. taining about 50 per cent TH02." Seagull hiim-iii- Arabian-- American Advertise In The . . . 2 URANIUM STOCKS TO BUY NOW MINERAL SURVEY Reach an Interested market! NOW IN STOCK (The Quebec Miner) SCINTILLATION COUNTERS Fisher Scintilla "Precision" Scintiladyne CORE DRILLS FOR URANIUM Power drills for all depths. Hand drills for topsoil penetration. New and used well drilling equipment. Everything in supplies. Advise your needs. fUYj HOiP? SHI? month trial service, in eluding one definite BUT RECOMMENDATION ia FLASH BULLETIN service. .One w Exchange Uke 0 Phone 76 Offering Circular Available en GRAND DEPOSIT MINING CO. Please Send Circular to Name cold, $tati$tieal facta. (Recommendation Due 8oon Selling under 10c). Just the hard, Street City for tod tl now and ba ready uranium Bvityfath. 824 Season BIdg - Salt Lake City READERS 0NLTI) State L.g325.00 $159.50 139.50 139.50 $289.00 99.50 99.50 39.00 Use MINERALITES "V-4- 3" "SI "M-1- 2" 30 Ft. Throw $77.50 $39.50 .. $39.50 Complete service and repairs on all makes detection instruments. Heavy Duty 2537" Field Model GEIGER COUNTERS FOR RENT TbHSTESTERK TRADER and IIYESTOR (This offer to NEW : Precision Professional DS 222 "Delectron" C-- 18 Only$l. No Tips. No Rumon. 54 Nuclean Oracle 10 Tube Bismuth. Fisher Scoot Deluxe Bismuth Fisher Scout Deluxe Geiger Counter Scout . Precision Lucky Strike Fisher Snooper All Fisher Scont Deluxe Models Have 75 Honrs Continuous And Adaptable Tor Drill Hole Probes Pressy & Son Pueblo, Colo. Members 401 NEWH0USE BUILDING Salt Lake Stock , COUNTERS Fisher S. W. BROKER IN MINING AND OIL STOCKS $495.00 $495.00 249.50 Scope 111B GEIGER-BISMUT- H Send for Bulletins COLTHARP INVESTMENT, INC. Strauss also pointed out that the limited immediate requirements of thorium could change, depending upon results of present research. The Commission, he indicated, would give immediate WESTERN ' GRAND JEWELRY 220 So. State (Write for free catalog) Salt lake City |