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Show r , ...... " "Ow VoL 26; No. 1 Wei? f Significance in W 27 "The v r n.mv'wr v uwwFrwsw-4'jf- .TyA TTwWff- i v Jc . Oil and Mining Wctid" Sail Lake City, Utah. July 8. 1955 One lOe Pei Copy Teai $3.00 tcrease El Dorado Merger Lacks Proxies; Falls Thru The lack of proxy support dampened the proposed merger of El Dorado Mining Co., with Unified Uranium and Oil ,this week, Whitney C. Hansen, El Dorado president reports. The merger was erased from El Dorados plans at a meeting of company officials and stockholders held July 6 in Salt Lake City. Other El Dorado operations are going ahead on schedule, Hansen said. Seven claims on the North Bingham site are being worked and a mine in Butterfield Canyon Is under Above ii an aerial view of some of Consolidated Uianinm Com-o- f Green Biver. The company is now launching a tungsten program. They plan to increase production 300 pec cent. SUCK ROCK BUYS HALF OF PRODUCING MINE Acquisition by Slick Rock Uranium Co. of an undivided one-hainterest in the producing Maxine mine of Uranium Co., was confirmed by Paul S. Dixon, president Ness Bldg. Leo C. Maley, president of Slick Rock Ura.ium, announced Trans-Wester- n his company recently opened up its third operation when heavy equipment was moved into of Trans-WesterHe said his company retains Bradford Canyon, near Monuone-hainterest and will con- ment Valley. Maley said a fourth operation is pla.ned to strat soon, tinue to operate. The deal includes adjoining as the crew can be moved in on the project. claims belonging to Trans-WesterDixon said. Dixon confirmed that 10 tons AEC9s Tenth of ore recently taken from the Maxine , mine, assayed 2.29 uralf operation. Operations will start this week on Six Big Hole claims in the Blanding area, Hansen reports. In addition 21 claims in Wayne county and 11 claims in Indian Creek, San Juan county are under to-da- ry n. lf n, Processor of $4,091.69 for ore truck load. This would average $400 per ton. Dixon said three more truck loads have been shipped since this original 10 ton shipment. The assay figures were taken from the settlement sheet at office in the m 300,-00- 0 250-to- n gold-uraniu- . nium and 2.84 vanadium and with the bonus brought a total Consolidated Uranium Mines, Inc. has expanded operations to include tungsten mining and as a result will soon increase production by some 300 per cent. This announcement was made public today through a report to the Survey from Consolidated officials. The company has been producing a substantial tonnage of uranium-vanadiuore from the Temple Mountain district in Emery county, Utah for the past five years. New tungsten projects now cated, and where excellent fubeing operated by the company ture chances exist for the develinclude: of additional tdnnage, evi1. The Linka Tungsten Mine, opment underlocated in Lander County, Ne- denced by showings in and the openings ground along vada, where a very large ore surface in advance of such openbody containing more than This is particularly true betons has been developed and ings. Lincoln Mine, which is where a milling plant with ca- adjoining in this property as exist in the pacity of 300 tons per day will adoining Lincoln Mine, which is be completed this month. now producing around 900 tons 2. The Gun Metal Tungsten per day. Milling facilities have Mine, located in Mineral County, been provided for 200 tons of Nevada, where some 160,000 tons tungsten ore per day from the of ore are indicated. Oie from North Tern Piute property. such mine is scheduled to be new tungsten producWith the mill of hauled to the an increase in uranium Newmont Mining Corporation, tion, plus the company has an which the company has under production, of objective producing around lease. 1,000 tons per day in the not 3. The North Tern Piute Tungsdistant future. ten Mine, located in Lincoln While not yet completed nor County, Nevada, where some any final decision reached. Con175,000 tons of developed and solidated is now investigating probable tungsten ore are iridi- - and, if acquisition arrangements are made, expects to spend some $250,000 in the further develpropopment of a in Nevada. erty On the basis of considerable work and large expenditures made in the past by the owners The mill, with a daily capacity of said property it might very of over 200 tons, will process ore well support milling plant with now being stockpiled by the a capacity of 1,000 to 2,000 tons ore. of Edgemont Mining and Uranium per day that it appears Notwithstanding Corp., The Sodak Uranium Co., that the property can be worked and other operators in the area. by open pit methods, all things (See FENNELL, page 7) being equal, the values as indicated to date, in gold and ura' nium, considerably exceed those .J? ' ' ' existing in the South African Mines which are producing both gold and uranium, and the South African Mines are deeper nairow veins which must be worked un- Black Hilts Area Gets Uranium Mill i Building of a new $2 million uranium processing mill got under way today at Edgemont, S. D. when Governor Joe Foss (Rep.,) climbed aboard a bulldozer and broke ground for the tenth mill of its kind in the country. Thei long battle between South Dakota and Wyoming for this plant ended when the Atomic Energy Commission awarded the contract for construction of the mill to the Mines Development Corp. of Golden, Colo. Trans-Wester- ns gold-uraniu- Vqjfr to-- : Burgess Says Atlas Will Recapitalize Denver M derground. Pennell Sees Merger With Uranium Star Bureau Survey Atlas Uranium MOAB, Utah have approved stockholders Corp. of the company recapitalization $10,000,000. President J. C. Burgess said here that Atlas managements recapitalization proposal was ac cepted, with little dissent, at a special stockholders meeting in Salt Lake City June 29. Atlas, one of the most active comof the publicly-finance- d panies operating in southeastern Utah, was organized about 18 months ago with a capitalization of $300,000. The company has been shipping ore since February from its Last Chance mine in Browns Hole, San Juan county, Utah. Among first moves in the companys expansion program will be the taking over of Paramount Uranium Corp. Merger of Paramount into Atlas has been approved by principals of both companies and details now are being worked out. m 4 Mf1- - at m Governor Joe Foss of South Dakota operates a bulldozer to break ground at Edgemont, S.D for a 2 12 million dollar processing mill for uranium ore. The mill is tenth of its kind to bo authorized Atomic Energy Commission. It will have a daily capacity of 200 tons and will process ore now being stockpiled at Edgemont Mining Corp., The Sodak Mining Corp., and others operating bythe A proposed merger of Pennell Uranium Corp., Salt Lake City and Uranium Star, Ltd., will be submitted to Pennell stockholders for approval July 20, Sam W. Souvall, pres.dent announced today. The merger will make Pennell one of the largest property holders in the busines, Souvall said. Under the terms of the proposed agreement, holders of Uranium Star stock would exchange one share which has a par value of $1, for ten shares of Pennell. In reporting to stockholders on the current Fennell program Alva Simpson, Jr., President of United Western Minerals, said a 52 hole drilling program on e Pen-(Se- MILL, page 7) - |