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Show Inly 1, 1955 Face-liftin- Ta g Double BG Widens Scope; n Renamed Weiten Mineral Survey. Inly Page Seven 1, 1955 Purchase of Lost Dutchman Mine Eyed by Century Senator, Uranium Boss Arrive Century Uranium Co., 37 Wall Street, New York City, in a progress report to shareholders, signed by Michael Lembo, presi Stockholders of the Double BGthat we can maintain a shipping I dent, announced the proposed acExploration and Development average of at least 0.30 to 0.50 quisition of the Lost Dutchman Co. Inc. voted at a special meet- per cent U3 08. Mine, in the Beaver Mesa area Progress is also being made for of Colorado. ing to change the company name n Uranium Co., an extensive drilling program on to A purchase option has been Inc. to better represent its scope House Creek - Beaver Canyon claim group southeast of the Slick entered into for the property loof operations. The headquarters office of the Rock area on the Colorado Pla- cated on the east rim of the y teau, said Balcomb. It is hoped Beaver Mesa about one mile company remains at 2340 E. that the drilling programs on south of Gateway, Colorado. The 24 in Colorado Springs. both of these properties will be property includes 11 full and Stan Balcomb, who continues well under way by the middle of six fractional unpatented minas president and general manager ing claims. of Trans - Mountain, announced August. Century will exercise the opthat a recapitalization plan was when the titles to the proption also approved which will permit Briefs erties are properly validated. the undertaking of a company ex- Progress Forty-tw- o revcent of Plans are to start production all per pansion program. enue collected by the state of within 30 days after the exercise Robert B. Murray, local attor comes Arkansas from special of the option. ney, was appointed as general motor vehicle and taxes. The resident mining engineer, gasoline counsel to the board of directors. Louis Reese, of Lost Dutchman Murray and Balcomb have just 15 years, power Mines, recently said: "A tunnel In the past returned from an inspection of farming with pertoleum-fuele- d is being driven into the property the Benham Mine recently achas the machinery acreage at the present time, where an ore tripled quired by Trans- - Mountain in the which each farmer is capable of body has been indicated by drillGateway Mining District on the working. ing." Colorado "Plateau southwest of "This ore body has been Grand Junction. The cost of a rank wildcat an proven by drilling 16 holes to a Everything is progressing very oil well drilled where no petro value of $1,330,000, he continued. satisfactorily at this mine, Bal- ieum has previously been pro I feel that the estimated value comb stated. duced today may range any of the ore bodies is conservative He said, "We should be back In where from $100,000 to more since it is my opinion that with production by the latter part of than $1,000,000. continued drilling, more ore June or the first week in July. A bodies will be determined and few tons of ore have been stockFor the eleventh straight year. the value will be increased from piled, and we should be shipping oil men have chalked up new $3 million to $5 million dollars." The Lost Dutchman was origup to 30 tons of ore per week to highs in our reserves of liauid the mill by the middle of July. and The natural petroleum gas. inally acquired by Ralph J. a of 1954 proposed for at 34.8 completion stand bil Bowman, of Salt Lake City in "Upon figures on this lion 211.7 property, barrels and trillion 1954. Officers of Century are drilling program we should be able to increase cubic feet respectively. Michael Lembo, president, Lay-to- n tons 100 to per A. Humphrey, treasurer, production up Years ago, only about 20 to 30 Florence Policastro, secretary, week or better," he said. This mine has already per cent of the pertoleum in a Joseph J. Cardinal, Jr., and A. Salamone, directors. than 130 tons of ore typical oil field could be extractn ed. with modern scientific Lost Dutchman claims The to Today, acquisition by prior with mill receipts show- production practices, these per are now being resurveyed to clear up the title. ing an average Uranium con- centages are often doubled. tent of 0.30 per cent and a vanadium content of 1.15 per cent. Payment by the mills for this V. E. & grade ore was over $50 per ton including; initial production bonus, Balcomb stated. 1946 Several picked samples of ore MEMBER SALT LAKE STOCK EXCHANGE from this mine have ben assayed radiometrically as high as 3.1 per Broken in Utah Mining and Industrial Securities ent uranium so we are confident Trans-Mountai- Trans-Mountai- Hi-wa- . re Sal-vato- Trans-Mountai- ANDERSON COMPANY re S. Senator Wallace F. Bennett. (R., Utah), granddaughter Peggy Fletcher, and H. Pierce Waite. of Uranium Corp.. off the same at Lake Salt the stepped plane Airport this weekend. Senator Bennett is spending the Independence Day weekend in his home city before returning to Washington. D. C. Waite returned to Salt Lake after a Denver business trip. U. Trans-Continent- Precious Stuff The world's costliest oil, a blend of petroleum derivatives and other products, is being produced in a miniature refinery at the laboratories of a large watch Saturday, July 18th, Promptly at 10 ANOTHER GRAND M.S.T. a.m., al company. Two drops of the oil, which costs $7,560 a gallon, will oil 1,100 watches. This one still refines enough oil to keep pace with lubriation needs for all the watches made in- the United States. - Saturday, July 16th, Promptly at URGE AUCTION JUNCTION. COLORADO LOCATED AT 247S NEW FBUITA HIGHWAY, LIMITS 1 MILE M.8.T. 10 a.m., WEST OF CITY . Stocks to Watch (Continued from Page 5) near future. Properties are located in the Gas Hills area of Wyoming, in southern Utah and negotiations are in progress for a piece of property in Arizona, where it is expected to begin op erations in the next 30 days. The stock came out at 10 cents and still hovers around that figure Stockholders of Green River Uranium Company are to receive an important progress letter on July 5. An extensive drilling program has been completed on the Vanadium Queen properties in San Miguel county, Colo. where a considerable ore body has been blocked out. The lease agreement has been completed and ore is being stockpiled for shipment. There are some deals in the works, which, if consummated may be expected to materially increase the position of Mag nolia. Ions Star Uranium Company's property in Lisbon Valley was "eridded" this week by a crew of four men, a forerunner of an- ticipated drilling operations to cet under way next week under the supervision Mining Engineer Tom Costas, in charge as mining director. 500 Newhouse Building SALT LAKE CITY, UTAH PHONE Jones Core Drlllbif Co. la In eompetltion with many of the customers ef . DAMCO. In order to end tale competition and better terra the customers of DAHCO, Jonea Core Drilling Co. will aell at pnblie auction regardless of prlee and without minimum or reservation all drilling equipment, pumps, water trucks, drill rigs, caalng, email tools, etc. An of this equipment la In excellent condition and ready to go on the Job without repairs. A par-l-al Hit of equipment aa follows : S 62 Joy HD Drills mounted on B160 new 1954) Gardner-Denve4x5 mud SB International trucks r with S pumps. HD Drills mounted on CMC 6x6 tracks with Ford Industrial power units, 400 gallon Joy 22 water tanks and Gardner-Denv- 4x5 mud pumps. Joy 28 HD Drill skid mounted with 110 HP Ford power unit with transmission and SO' mast with hydraulic raising cylinders. 1 Sullivan 87 Drill mounted on InK-- 7 Denver 4x5 track with Gardner-- mud pump. 1 Sullivan 81 Drill mounted on F--6 Ford truck with Gardner-Denve- r 4x5 mud pump. 1 Joy 18 Drill skid mounted with International power unit. 8 F--8 Water trurkr with 1,000 gallon vacuum fill. Griffin water 4x4 International water track with 1.000 gallon vacuum fill water tank. 1 GMC 6x6 Water track with 1,000 gallon vacuum fill Griffin water tank. 1 Chevrolet 4x4 water truck with 750 gallon Griffin water tank. 1 Chicago Pneumatic 810 Ais Com1 1 t 1 er 1 ternational 1 8 8 1 1 1 8 R-1- pressor, Like New, 1,000 Hours, Cat. Diesel Power. Worthington Wagon Drill. 1 ft Chicago Pneumatic 500 eu. with Cat compressor DJesel power unit. Jaeger 815 Compressor with ED-I- S Int. diesel power unit, pneu- matic tires. Ingersoll-Ran- d 160 ft eu. Com- pressor with Waukesha power unit, pneu. tires. No. S Dnrlone dust collectors. Dodge power wagons. International winch trnek with Tulsa winch, oilfield bed A frame. Dodge winch with Hulsa winch, oilfield bed A frame. 16 KW light punt. Gardner-Denv4x5 mud pump mounted with Waukesha power unit. House trailers. Miscellaneous water pumps, light plants, ( small tools. Thousands of feet of drill rods, line pipe, flush Joint easing. Mine, swivels, slip foot clamps, pipe wrenches, vises, drag bits, snbs. and spare parts and many hundreds of items too numerous to mention. er Cat. D-- S (8TJ geries) Angle Doser, Cable Control, Perfect. EACH ITEM POSITIVELY SELLS TO THE niGHEST BIDDER MINIMUM OR RESERVATIONS JONES CORE DRILLING CO., INC. WITHOUT TERMS OF SALE Cash, Cashier's Cheek, or letter of Credit from Your Bank must Accompany Personal Checks or Bank Draft. All equipment must be paid for day of sale. No exceptions. 8250 cash in Hand Registrations Fee which will be refunded after sale or applied against purchases. We Specialise In Heavy Equipment and Industrial Plants of All Types Wayne Cook, Anctloneer 108 Prentice BIdf. 4515 Prentice St ANOTHER AUCTION CONDUCTED If you are not on our permanent mailing list, please send In your name and correct address. For Further Information Contact Our Home Office Frank DeMoss Sales Phono Mgr. KM-SSS- S BY WAYNE COOK ASSOCIATES 'The . Natlon.s Leading Auction Firm" Dallas 6, Texas |