OCR Text |
Show &'"' Ow tin VoL ts Al-burqu- e, of the earth. Magnolia Uranium expects to close a deal in about two weeks for acquisition of some very rich uranium property in Arizona, which will materially increase Magnolias assets. The Company is in the black with no outstanding obligations. The picture appears promising. Uranium, recently apand the proved by the Utah Securities Commission, has Nu-Me-x SEC 70 claims in McKinley County, New Mexico. A total of 8,000,000 shares is offered at .03 a share. Rocky Mountain Securities is underwriter. Imperial Uranium Company is contemplating resumption of shipping from its surface deposits north of Cainesville, where ore ranging from .3 to .43 can be scooped up with a bulldozer. Shipments would be to the receiving station at Green River. The company .also has a full scale operation in Red Canyon where over 100 holes have been drilled and where prospects of a major ore body appear bright. A decision is expected soon from the A E C on the results of the holes drilled. T;' 'fM - 10c Per Copy One Year $3.00 ALL... firm of Vallier and Son, worked in conjunction with the Independent Economic Survey reau, headed by Dolores M. Sims. They conducted intensive industry. organizational work throughout It has established headquar- the western states as well as in ters at Denver, Colo., it was an- the industrial centers of the East. nounced this week by Robert The American Uranium and J. Vallier Sr., chairman of the The July 1 deadline for mining claim assessment work doesnt of Utaco worry William T. Hines of Moab, secretary-treasure- r Uranium, Inc. Mines. lie posts an assessment work comclaims near Bluff, pleted notice on Utacos Ilole-in-the-ro- ck Utah. Three Drill Holes Show Ore on Cool Bed Claims -- Survey Denver Bureau Three drill holes on Utaco Uraniums Coal-Be- d MOAB, Utah Canyon claims southeast of Monticello, Utah, all have found William T. Hines reports. ore, Secretary-TreasurHines said one hole went through four feet of commercial ore. A second found about one Arizona foot of commercial ore, and the To Open third hole went through eight feet er U-Buyi- ng Mill On July The new ore-buyin- g of 5 station at Globe, Arts, .will be open for business on July 5. Opening date was set by the low-grad- board of trustees. Mr. Vallier emphasized that the American Uranium and Aomic Energy Assn. (AUAEA) is the first organization in the uranium and atomic energy fields which is expressly organized to include every phase of the industry. No one phase of the industry can stand alone, Mr. Vallier pointed out. What is necessary is a united basis for representation. And that is why the AUAEA has become a necessity, he said. The AUAEA is a single, central channel for service, propaganda and education, ethics, and coordination for the prospector, the miner, the miller, the investor and underwriter and for the industrialist putting atomic energy to work, as well as the instrument and machinery manufacturer, Mr. Vallier declared. Organization of the AUAEA began in January of this year. In the ensuing five months, the ore. e The three holes were sufficient to define the direction of the ore channel, Hines said. Because of the high cost of drilling on the Production to Rise Vitro Leader Says Atomic Energy Assn, was granted a charter by the State of Colorado as a non-profcorporation. In addition to the chairman of the board of trustees, Robert J. Vallier, Sr., other officers are: Dolores M. Sims, treasurer and Robert J. Vallier, Jr., it secretary-general- . Upgrade Trial Test Run ByPineco At Beaver Preliminary tests of ore from Pineco Uranium companys tunnel on the Indian Creek claims at Beaver was run through the new. refining mill of Western Hemisphere Co., at Beaver, Utah this week. According to George Morton, mill foreman for Western Hemisphere, the ore upgraded from .10 to 24. It was a preliminary test. According to Justin E. Hurst, vice president of Pineco, large production upgrading may be Vitro Minerals Corp. will make terrain, no further drill expected soon. a drive at expanding their Wyomexploration is planned at presAtomic Energy Commission Hurst said Pineco has a ent. ing production to 1,500 tons of office in Grand Junction, large quantity of low grade uranium ore per month, Jack O. Colo., this week. The station Utaco plans to place the claims Horton said this to that used in ore similar week. will be operated by American in production this summer. Rock test. the Mr. Horton is general manager Smelting and Refining Co slides last winter covered the por- of Vitro of America and they report. tal of the drift which had been Rochester Corp. and Pittsburgh Coal The sampler will purchase started earlier and considerable Co. camotite and roscoelite-typ- e clean-uwork will be necessary Activity is centralized on the ores as well as autunite, before mining is resumed. Sateco lease in the Gas Hills and uraninite ore district Utaco has finished of work road Fremont county, Wyo. cent 6 lime with less than per on Ore its claims, produced during the past content, it was announced. near few and Bluff, months is developUtah, a grade showing Individual producers with ment now on of Is .24 work lh cent progress approximately per ore under announced specifiSurvey Denver Bureau on the oxide. uranium property Ridge Carpenter cations will be able to negoThe ore is shipped to the Vitro the east slope of the La Sal tiate special contracts. An extenCASPER, WYO. Uranium mill in Salt Lake City. sive drilling program recently completed northwest of Hiland, New Wyo., has revealed tremendous Officers Complete Report, stores of uranium ore in properties owned by Highland UraCoal-Be- d Highland Claims p to-bera- ite Rich IIoIe-in-the-Roc- U-St- ore on k Wyo. Property UC0A OFFICIALS SEE ROSY FUTURE By O. D. Quinlan operations. It is our theory that The strongest recommendation for Uranium Corporation of if it can be done in Canada and America is concerned in the statement of John H. White, Jr., its South Africa, there is no reasonpresident, who said in reply to a question as to what future he able answer as to why it cannot could see in stock sales. I am not concerned with the stock," said Mr. White, as I feel it will take care of itself if the mining and operations are handled as they should be and I only know that my own stock is not for sale at any price. The above comment took place series of questions, Mr. White is at a period quoted as saying: I only have to stock- look out across the a to close a that brought valley at the holders meeting of UCOA on copper company at Bingham. Tuesday, June 21, In the Hotel That was a speculative Business is so good with West Utah, with a large gathering of operation. The people in Canada stockholders present. and in South Africa are operating Toledo Mining Company, a e to his a on the theory of large, on Page 5) Following up replies questlon-and-answ- er low-grad- mod-(Continu- sfi,y.. The American Uranium, and Atomic Energy Assn., a giant new organization will unite and represent all branches of the uranium and private atomic energy Monday. Lone Star Uranium is now reported shipping about 250 tons of ore a week from their school section, south of Hanksville, to the receiving station at White Canyon. The property is at Trachyte Creek. Drilling also started on the company's Deer Trail property in Circle Cliffs where ,30 to .90 ore is shown on the face of the outcrop. Lone Star, originally a Texas outfit now has its main office at N. M. The company has 1900 acres in New Mexico with an igneous intrusion, where ore is pushed up to the surface rtfc.tA.WA NEW FIRM UNITES URANIUM INDUSTRY By O. D. Qatnlan Circle Cliffs Uranium Company is reported to have put a crew to work mining ore from the Horsehead, Horse Canyon and the Midas mines, and to have begun a schedule of daily production of about 10 tons of ore a day. Truck shipment is made to Marysvale receiving station 170 miles away over very rough roads. Only one trip a day is possible. It is a preliminary effort. If and when a buying station is established nearby, the situation could quickly change. of Vanadium Corporation America is reported to have mined to a depth of 700 feet on its Freedom mine at Marysvale. There is an igneous deposit and it is one of the good paying mines and one of the biggest. Vanadium has been shipping for five years. .,,)i,.v' INCLUDES II Pioneer Gold of Canada plans to spend $250,000 developing the Companys claims in White Canyon Plans include driving a channel (right of way) for a distance of 1150 feet through the Lost Boy claims of pig Horn Uranium Co. The work was started on v Salt Lake City. Utah. Jane 24. 1955 WORK COMPLETED Stocks to Watch ' IflcAt Significance in fke Oil and itfining Itlerld" Sy. & A 26; Ho. 26 J ed low-grad- er be done here in the United States. We are concentrating on large low-grad- e ore operations in the Wyoming and Arizona areas. The A.E.C. is establishing a buying center east of Globe, Arizona and it might be, we could mine any high-grad- e ore we find and deliver it to that buying station prior to setting up a mill. Dr. R. C. Peterson Is now In charge of our laboratory and he (Continued on Page 5) nium, Inc. Announcement was made by R. Rug Barhaugh, president of Highland Uranium, who stated that his company has drilled over 5,000 feet of hole in 100 the properties. The claims include, two and one-hamiles of Wind River formation. Two sand sections have been drilled with extremely count at 20 high radio-metri- c to 30 feet depth. Sample assays as high as 2.91 per cent uranium oxide have been taken from these properties. The firm has been drilling for two months, and on the basis of high sample assays and high probe, plans are formulated to begin shipping and stockpiling ore. (Continued on Page 5) loca-tions- lf on |