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Show July 1. 1955 The Western Mineral Survey, Page Three July 1, 1955 School Land For OSH'S 10 Unfilled Orders Set At 70,000 Joint Drilling Job Eyed by Atlas Corp. roads lead to utaco Tons, Zinc Committee Reports Survey, Denver Bureau Zinc stocks now are lower than at any time in the last two years, with unfilled orders standing at 70,000 tons. Otto Herres. vice president of Combined Metals Reduction Co., and chairman of the National Lead and Zinc Committee, made that report today. He disclosed that 63,000 tons of zinc now are in the hands of producers, and that business is greatly improved. He cited the fact that zinc is signed by President Dwight D. now 12 Vz cents a pound, a gain Eisenhower this week, is now of cent a pound over the law. two weeks ago. If imports of ' lead and zinc The lead market is firm with continue excessive, the Director the total of unsold stocks of lead of Defense Mobilization, Dr. in the hands of producers very Arthur Flemming, may advise small. However, Herres pointed the President, under the law, to out that the future trend is going take steps to restrict imports, if to depend on the result of wage foreign competition threatens the negotiations in the steel and min- domestic mobilization base for defense. ing industries, now under way. He pointed out contracts with Herres pointed out that the Ofcopper companies expired Friday, fice of Minerals Mobilization July 1, with the copper industry opened Friday, for the purpose facing a momentary stalemate. of studying mobiliation of tonHe said the same is true of the nage of metals and minerals steel industry. needed in this country for naThe Trade Agreements bill, tional security. one-ha- MOAB, Utah Signing of a oint venture agreement for drill-n- g an e tract of school land near La Sal Junction, southeast of Moab, has been announced here by J. C. Burgess, president of the Atlas Uranium Corp. The lease is held by Atlas and Trans-Wester- n Uranium Corp. Under the contract, Texas Rare Minerals .Ltd., will pay all costs for drilling 5,000 feet of hole to test the Morrison formation. Texas Rare Minerals in exchange will receive a 50 interest in the property. ; 80-acr- 80-ac- re lf conference is held by catskinner, Ace Turner, left, secrtary-treasnrof Utaco Urainm, Inc., at Utaco's claims in Paradox Basin of San Juan county, Utah. Turner, with many years of experience in mining in southeastern Utah, is directing development work on Utaco properties this summer. Road-bnildi- and William T. Hines, Hole-in-the-Ro- ling Is another U&I Uranium in the come geologist for Daybreak making? Back from inspecting Uranium and the neighboring the Dead Morning Sun Uranium. His acHorse Point operation in Utah, tion, just before he was scheduled Cecil Kennedy, Coeur d Alene, to open a new district office of a director of Merger Mines and the AEC in Spokane, indicates a member of the joint venture he is convinced the properties committee, gave Mining Hi Lites have big futures. The latest drillthis report: It appears the joint ing results have greatly increased venture project is developing in- known ore reserves . . . Daybreak to the biggest discovery of the has received its initial shipping Colorado River rim country. Ev- contract from the AEC. It calls ery hole indicates a larger ore for purchase of 10 railroad cars body. Probing has Indicated ore of uranium ore, starting July 1. in various holes containing from Washington Water Power, one .30 to 10 per cent uranium oxide. of two issues on the A new discovery has been uncov- Spokane Stock Exchange, also ered 1500 feet southwest of the reached a record high during the discovery No. 3. Scintillator read- week. It moved up to $40 at $41 ings are excellent. The discov- before sliding back to $39.25 at ery on No. 3 is being developed $40.50. Metaline Mining & Leasing rapidly. A tunnel is in 45 feet to within a short distance of the was in demand at higher prices ore zone. on the basis of apparently well Silver Dollar Mining Com- founded reports that it will enter The pany has concluded negotiations the Utah uranium field. firm for a large acreage of private Spokane has a land in the Mount Spokane area, mine in Pend Oreille county, county, Washington. Wash., under lease to Sullivan Spokane Two crews are running radioac- Mining Company. The property tive surveys on the leased has been idle since the zinc price ground, some of which is in the slump. Karl Jasper, Spokane, has vicinity of the Daybreak dis- been president. He also is of It mine. is Grandview Mines that covery reported present will started work Northwest be and the Mining Assoexploration in radioactive areas . . . The ciation. Silver-Leashares Vulcan Spokane firm also has more than 3000 acres in Stev- moved into high ground followens and Ferry counties, Wash., ing disclosure that a monthly which now are being examined. milling rate of approximately Ferry county is in the spotlight 9000 tons has been attained at at present, with considerable its Galena mine west of Wallace claim staking and one or more in the Silver Belt of the Coeur dAlene (Idaho) mining region possibly major discoveries . . The companys Utah representa- This was the goal when the mine tive also is negotiating to ac went from a development stage quire an important uranium prop- into a mining stage early this year. American Smelting & Reerty near Moab. Daybreak Uranium advanced fining is the operating company to a new high of $1 to Day Mines, Inc., has a 25 per cent participating interest. Vul$1.05 in the Spokane market on the strength can is controlled by Callahan of two new developments. Drill has hole No. 4 put down by the Lucky Friday Silver-Lea- d Atomic Energy Commision hit holed through its new shaft-raisabout rich pay dirt at 42 feet and con two schedule out of weeks ahead of in until it tinued passing the vein or fault zone at 80 feet The raise was started in FebruThe AEC geologist for the Spo- ary, 1954, from 70 feet above the kane area, who has been direct- 1800 level. Advance has avering drilling operations at the aged nearly six feet daily. The property near Mount Spokane, raise will be extended 127 feet announced he is resigning to be above the adit level for sheave Bismark-Merger-Nabo- b . non-minin- ng g zinc-lea- d re-elect- er ck Information on items ranging from a new type plastic biscuit and cookie cutter to a steel television tower are included in a new issue of the Small Business Administrations anProducts List Circular, nounced today by Harold R. Smethills, Regional Director of Agency foij this area. g oil-power- ed LET US PUT YOU ON OUR The circular lists 55 products, inventions or commercial ideas FREE MAILING LIST offered by their respective owners for commercial development or distribution. Also included are abstracts of 30 Government-owne- d of drilling before? July 15. Burgess pointed out that Atlas Uranium Corp. holds adjacent A large, modern tankship costs property which will benefit from approximately six million dollars the drilling program. to build, and from $2,000 to $3,000 Texas Rare Minerals is a limto ited per day operate. partnership with headquarters in Houston Texas. The firm has established an office in Moab. About 72 per cent of Americas In 1920, it took 281 man-hour- s crude oil, and 20 per cent of the .volume output of all refineries in to produce a bale of cotton. Tothe United States, are trans- day, in large farm operations with machinery, the ported by pipe lines all or par; number of man-hour- s required of the way to their destinations can be cut to 25 or less. Small Business Gets Boost With Circular self-supportin- The tract is in Section 2, Township 298, Range 23E, on the Lisbon fault approximately one mile northwest of Continental Uranium Corp.s rich Rattlesnake mine. An execution bond has been posted by Texas Rare Minerals, and the contract calls for start patents covering processes such as one for processing foods, another for control of Japanese beetles; and We'll keep you supplied with all the latest information concerning properties and operations as they products such as a pocket radia- tion alarm. occur, as well as stock activities. In' announcing the availability of the Products List Circular at the Small Business Administration Regional Office, located at 229 New Customhouse, Denver, Mr. Smethills made public the following statement by Wendell B. Barnes, Administrator of the Agency: CALL up-to-the-mi- 22-58- 58 FOR LATEST QUOTATONS ON ALL URANIUM ISSUES d well-chose- n , all-tim- e Over-the-Count- er Zinc-Lea- d. three-compartme- e nt room. A hoist room, rope raise, ore and waste pockets also remain to be excavated. MEDNICK BROKERAGE Shares of Jack Waite Mining Company, which owns a produc- ing lead-zinc-silv- er COMPANY property in Shoshone county, Idaho, have been recommended by a New York investment firm as offering possibilities of price appreciation. An analysis of the operation points out that ore mlnec is of consistently high grade anc that earnings could improve rapidly if the operating company, American Smelting & Remore fining, should employ miners. - Sunshine Mining Company . . Sunshine mine closed by wildcat strike yesterday and toaay. Bunker Hill moved up sharply today on rumors of another boost in zinc prtce soon. 442 South Main St., Salt Lake City. Utah PHONE 22-58- 58 TELETYPE SN-62- X MEDNICK BROKERAGE CO. 442 South Main, Salt Lake City, Utah Please place my name on your mailing list. Name Address City State ... sss |