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Show Jane 10. 1955 Page Three The Western Miner! Survey. Sell Like City. Utah Stocks to Watch By O. D. QUINLAN The Circle Cliffs area appears destined to receive a great deal of attention from the AEC. Last year geologists of Horse Canyon Uranium Co. submitted an ore sample to the AEC for analysis. Recently Horse Canyon officials received an inquiry from the government for information as to the exact location from which the uranium sample was picked up. Eastern interests are picking up Shumway Uranium Co. stock, or the first time, Eastern bids during the week were stronger than Salt Lake City bids. The . Eastern uotation was $2 bid and $2.50 asked. stockholders meeting of Moab Uranium Co. has been called for JunelS.- - The advisability of declaring a small dividend will be discussed and probably put to vote of stockholders. There is some question as to the amount of the dividend. A Harold H. Cutler, president of Horse Canyon Uranium y has done a nice job. He is a of Utah instructor and has been invited to attend the top graduate school of the United States which will be in session for two week this summer at Claremont College, Calif. Some 30 men from all over the United States have been inivted. There will be an institute on Freedom and Individual Dr. Uni-evrsit- Yankee Uranium, directed by two of Utahs well-know-n geologists, could be eligible for more DMEA loans. The first already has been approved. Cash position excluding DMEA loans will reach $144,000 when payments due are received, officials declared. Jp to 4000 104 Years Old UCOA Stakes Channel-Minin- g Gold Property Sold Survey Denver Bureau What is believed to be the only channel-minin- g gold property still being operated in this country was sold this week to Basic Minerals Syndicate of Salt Lake City. Announcement of the sale came from Hugh Tuttle, of the syndicate, who said the purchase was made from Ella Maria Wickham and Otto Brink of Sacramento, Calif. Purchase price of the mine was set at $200,000 and other considerations. Paramount workman inspects The mine, located 84 miles Uranium ore slides down chute from new load from mine. Montezcma Mine northeast of Sacramento near portal. 49-er famous Sutter Mill of days, was first worked in 1851. More than 3 million dollars in gold 1000 Tons Thus Far has ben taken out since that time, Tuttle said. Mining operations follow the channel of an underground river which narrows in places to a width of eight to nine feet, four feet high, and sometimes widens caverns. Gold to huge room-siz- e Drifting operations at Paramount Uranium Corps.s new content of the gravel averages from $6 to $8 per car. The drift strike near the Montezuma Canyon mine are advancing rapidly, has been followed over 1)4 miles A. F. Enyart, president, told the Salt Lake office today. co-trust- ee Operations on Paramount's New Strike Move Rapidly so far. The mine purchase- also includes equipment and mine holdings valued at $75,000, Tuttle stated. He said the mine is expected to be sold to Twentieth Century Minerals, a company now being formed to operate gold, uranium and mercury mines in several Western states. - PARKER NAMED (Continued from Page 1) Circle Cliffs area of Garfield He noted County properties. that further drilling is contem- plated to determine the extent and value of the ore. All necessary assessments, McClung reported, are complete on Emery county claims. Drilling operations are now being conducted on Overton properties, he said. New officers of the firm include Mr. Parker Gilbert V. Schirk, 1st B. Gunderson, 2nd Merrill K. Davis, secreC. Duehlmeier, William tary; V. McClung and Glenn treasurer; John Shamy, director. diAll officers are hold-ove-r rectors except McClung and Shamy. Shamy is employed by Walker Bank and Trust Co. trust department, Salt Lake City. vice-presiden- La-mo- nt t, vice-preside- Gold Cloud, small capitalization, 7000,000 shares, has made first shipment of commercial ore to VCA at Thompson, Utah. Wyoming Uranium has completed first shipment of 60 tons of commercial ore to new Riverton buying station. Cash position reported by officials to exceed UINTAH STILL OFFERS PUBLIC A CHANCE 1000Claims In Wyoming Uranium Corporation of Amerhas staked an additional 1,000 claims on the Wind River ica Formation, in Wyoming, increasing the companys total claims in that area to 4.000. Five drills are operating 10 hours daily six days a week. In a letter to stockholders, John II. White, Jr., president, announced ore has been discovered on 27 of the claims, ranging from .05 to as high as .44 per cent. The ore is at a shallow depth on the Wyoming property and can be mined cheaply. Two diamond core drills are operating on UCOAs Arizona properties where Standard Ore and Alloys Corporation is con- ducting exploratory drilling with two additional diamond core rigs. UCOA has two sucecssful processes for upgrading the Wyom- New exploratory drilling, Enyart reports, show .26 ing ore. ore approximately 200 feet from the main ore tunnel. He said One is an air separation proore lenses are being encountered cess that the ore from as drifting continues. four to. five times with an efTwo Paramount crews are con- LUCKY LAKE ficiency of 60 to 70 per cent. The second is an electro-stati- c tinuing operations on the original mine. Enyart said more than separation process that the ore three times with 90 per 1000 tons of uranium-vanadiuDRILL cent efficiency. ore has been produced thus far. President White announced The Montezuma Canyon propNegotiations for a drilling proIt claims. the to company expects to have erty comprises eight gram open next week are now Paramount for was purchased by being completed by Lucky Lake pilot plants for both shares Uranium Co., Salt Lake City, ac- processes, $35,000 and a operating in the field of stock as stipulated in the com- cording to Stanley J. Lake, presto 90 days. 60 within panys offering circular, Enyart ident and general manager. said. UCOA plans to develop, mine We have uncovered an undeThe Securities Exchange Comp termined amount of ore mineral- and deliver high grade ore to the mount to sell 33 million shares ization and are now drawing up AEC mill at Riverton. of stock to the public. Enyart plans for drilling to determine Two amendments to the Arsaid the sale has been completed. the quantity of ore, Lake said. ticles of Incorporation will be Part of the companys Colorado The company is now negotiatpresented at a special meeting of ing in Houston, Tex. to acceler- claims are now being UCOA June 21 at 2 p.m. in the ate the summer pace of Paraby a caterpillar. Little Theatre Room of the Hotel mounts operations. The property is new issue, says Utah, Salt Lake City, Utah. Enyart has not released full Lake, and practically all Utah The first amendment provides particulars concerning the pro- stock has been sold. However, gramming, but it is believed, he out of state stock is still avail- the afafirs of the Company shall said, that transactions now taking able, he added. The companys be managed by a Board of Diplace in Houston, Moab and Salt underwriter is rectors of not less than five or SeLake City will prove substantial more than 15 persons. in enlarging the scope of the curities. company. The second provides that the Lucky Lake has applied for a In addition to the Montezuma Defense Minerals Exploration directors shall choose a presiCanyon mine. Paramount holds Administration loan in excess of dent, vice president, secretary, a record title of 2,440 acres of $200,000, Lake said. treasurer, and other necessary mining claims in San Juan U-3- 08 up-grad- es m TO OPEN BIG PROGRAM up-grad- up-gradi- half-millio- n Uintah Uranium Co. with prop- county. The Rock claims group is loerty six miles east of Vernal, is still in the public offer- cated approximately 5000 feet Utah Uranium has ing stage although it has been from an operating mine owned large body of primary ore plus cleared by securities officials. by the U. S. Vanadium Co., EnNo mining has been done on yart said. valuable VCA Royalty. the property, officials say, but At present Paramounts authorimprovement is expected when ized the capitalization is 50 million within the lease expires year. of common stock having shares cent 20 Uintah has a royUranium Mining per a out tons blocked of par value of one cent per alty on 27,000 Equipment roe. Shares totaling 15,000,000 share, said Enyart. Public stockholders now hold 84 per cent of will soon be offered to the TRACTORS outstanding stock. ram-strippe- d D-- 7 Mid-Ameri- ca $175,000. Bullion-Monarc- h SHOVELS DRAGLINES LOADERS Sales Effected Only By Means of Offering Circular WIND RIVER URANIUM COMPANY Offering 25,000,000 Shares Common Stock Properties: 125 mining claims located in Crooks Gap area of Fremont Connty and Sweetwater County, Wyoming UNITED UTAH URANIUM BROKERAGE Underwriters 524 Beason Building Offering Price Par Value Will consider slock for part payment. . Per Share R. F. McCune 1 5 Ivy St. Phone Dexter DENVER, i 3-95- COLO. 51 TWX:SU 66 RENT OR SALE 1 Ph. CO. 22-58- Please send me offering circular on Wind River Uranium Co. Name 20 St. No City and State |