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Show May 27, 1955 The Pecos Mining WET MOUNTAIN MINING (Continued from Page 1) DEVELOPMENTS during the week improved the Spokane areas prospects for becoming an important producer of uranium. DIAMOND DRILL FIRST HOLE put down at the Daybreak Uranium discovery got results beTelltale yond . expectations. green crystals, marking! the high grade autunite, were found soon- er than expected and at last re- port they had been showing up in cores for about 70 feet. The drill is angling into the ridge on the apparent dip of the shear zone. Water used in drilling reportedly was disappearing. This indicated big fractures favorable for ore deposiore-beari- ng -- properties in Silver Belt of the Coeur dAlenes are doing well. income-producin- g LIFE MAGAZINE (May issue) has a 10-pa- 23rd colored devoted to URANIUM and mining. The ac- companying map depicts Spokane as a promising uranium area. Since 1952 the Atomic Energy Commission estimates more man- hours have been spent in the quest for uranium than were spent seeking all the other metals in history. SUNSHINE MINING GO the nations largest silver producer, declared a regular quarterly div-- 1 idend of 15c a share. The $223,- - tion. In Spokane Mining market, Page Five Western Mineral Survey, May 27. 1955 I purchased one additional rroup, comprising five claims. Additional exploration on the optioned i property is now underway. Preliminary report on the pur-chased group indicates a good possibility of commercial ore, Barr told his stockholders. Liberty also owns extensive oil interests. It holds interests of from 7.41 per cent to 100 per cent in 89 federal and 11 fee leases in the Williston Basin of Montana and North Dakota. The leases cover in excess of 60,000 acres and Libertys interest amounts to about 7100 acres, Barr noted. ML WORK FAMED THORIUM DEPOSIT Survey Denver Bureau DENVER Recent interest in Survey, Ohlson stated today. The thorium, aroused by AEC chair-h- e Strauss letter has helped to stabilman Lewis I. tSrauss in a letter ize the price of Th02 and is exto Governor Johnson of Colora- pected to generate further activiounlmenT tte ty in the Canon City area. d formation of Wet Mountain )ne estimate of the ore rc of Th02 was in excess of serves to thorium mine Inc., ing, erties in Fremont County, 16 $12,000,000.00 on the Tuttle propmiles south of Canon City, erty owned by Wet Mountain. A group of Colorado Springs Average grade assays run 1 businessmen, headed by E. W. Th02 per ton. Most of the minOhlson, president of Arts, Inc., ing operations will be of the will manage the new company, strip variety, according to Old-soHe said contracts for five Thorium in the Wet Mountain area has been the subject of tons per day of 10 concentrate Liberty,, also owns a 724ths in- - two very lengthy and detailed had been negotiated with an Easterest in a small producing lease studies by the U. S. Geological tern firm. ln Jack county, Texas, and holds a number of leases in Callahan couny. Texas. The Denver firm recently purchased 20 SINCE 1898 THE PLACE TO GO wells in Callahan county from movie star Jimmy Stewart RECONDITIONED DEPENDABLE GUARANTEED and Kirk F. Johnson. The firm is currently undertaking a in this field, and also MINING MACHINERY i is engaged in a joint drilling ven- ture in a group of wildcat wells SEND FOR CATALOG 541-in Lincoln county, Colo. f prop-)rospecti- I m Lib-Compa- com-stanti- ng n. Daybreak Uranium was the star performer. Offered to the public at 15c a few weeks ago, the stock approached the 60c level late this level equaled only once be- or week. Mining issues generally themaccount of a gave good LUCKY MC URANIUM, in selves. Grandview and Sunshine Active management of the which SILVER BUCKLE Mining Consolidated were volume leadof subWallace has a eriy Oil and Uranium Co. is ers at generally higher prices stock interest, announced prised of Howard L. Anderson, Grandview was at a three-yea- r to construct a $6,000,000 president; Ewel H. Stone, vice plans high at weeks end. Bismarck, uranium plant at president; Samuel M. Goldberg, Merger and Nabob were also acsecretary-treasureand William tive and higher in counter deal- Riverton, Wyoming. H- - Hogan director. AH are expe-O- F COMMERCIAL GENERATION ings. ATOMIC ELECTRICITY ' rienced oil men- PHELPS DODGE CORPORA- loomed nearer with announce TION leased 20,000 acres of priv- ment by General Electric that it i A D KJIMCC LIIDCC ately owned lands from a lumber had designed a new type atomic MwAd MIINCj rllKEo firm north of the Spokane In- reactor that can generate electri-- . . . dian Reservation, home of the city as cheaply as a convention-- 1 JAMIESON, ENGINEER Midnite . uranium mine now be- al steam generator. ing developed by Dawn UraCONSOLIDATED MINING & MOAB, Utah William F. nium, a Newmont subsidiary. The SMELTING shares hit a new Jamieson has recently been h big copper firm already had 4000 of $36. The company is pointed chief mining engineer for acres of state lands under lease contemplating construction of a Moab Mines, Inc., Moab, Utah. SEVERAL NEW ORE 430-mirailroad to Fine Point He was formerly associated with STRIKES were reported during properties in Northwest terri- - U. S. Vanadium and Consolidated the wee kin the vicinity of the tories . . . They have a large Copper. Daybreak property. While their lead and zinc orebody that can A graduate of Washington importance is as yet unknown, bq readied for operation. uranium mineralization appears State Jamieson also political outlook is vital served University, to not be confined to the Day- to The as a mining engineer for the stock market. One analyst I break mine alone . . . Newmont Mining and M & J told the national convention of is a specialist in He 'ungstenSILVER DOLLAR MINING Security Analysts that I would economcal and it is Av-mining 1 CO. displayed samples of the expect the Dow Industrial his past experiences (now 419) to advance to pe.ed high grade autunite obtained by PrHtable operation at 550 of a least level the by auger drilling of a property a Moab Mines, Inc. I for Pres. Eisenhower attends time an undisclosed point north o Of Spokane. The firm also revealed his second inauguration. Jamieson recently returned not should run if Ike that it has acquired two sections course, a Moab Mines inspection from of state land in the Wind river again that would be bearish on trip to appraise pitchblende uranium area of Wyoming. The the market. properties for purchase STOCK OWNERS were cheer- - near Central City and Canon ground adjoins a producer. Ex-- . ploration work is set to start by ed by news the Senate Finance city, Colo. He has just completed a negotiations for Moab Mines inJuly. The firm also has been Committee defeated by to tax relief yolying acquisition of mercury repeal the examining properties in Utah, proposal Stockholders were told the firms on dividends. property in Nevada. drill-progra- Min-sprea- W MORSE BROS. COMPANY MACHINERY al 2900' BRIGHTON BLV.. DENVER. XI S1 ore-processi- ng r, jo I I ap-hig- le ex-era- ge pig-jnati- te I Subscribe tjm! 10-to- -l . Interested In Uranium Activities? Whc t? . . . Right now the circulation oi the WESTERN MINERAL SURVEY is keeping pace with the uranium industry in general booming! Keep posted on latest news and quotations by reading the WESTERN MINERAL SURVEY regularly . . . every week. SUBSCRIBE NOW! I 2 years $5.00 Circulation Departments year $3.00 722 Kittredge Building Denver, Colorado 421 Church Street Sail Lahe City, Utah NAME ADDRESS CITY Remittance STATE Bill me later |