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Show &? 'i. v ' f vx; ftw-v- '?- - ".. i ' KEEP POSTED ON URANIUM "3or u& ctf fticJt ignifica'e in The Oil anff hUniHWotlcT 1 VoL 26; No. 33 Sail Lake CP & ' f,T7- 1 Ac : a .?lk tTrff 2. 1955 -- &pCav: j .O 'mbei j ' LJ WOne Teat $3.00 10c Pei Copy IT"V -o5 .olo. PlantWQpe'n Next Week By O. D. Quinlan ,o Mine Hits Mining Companys new $1,400,000 sulphuric acid plant at Rico, Colo., will be ready for production by the end of next week, company officials predicted today. The mill has a capacity of 200 tons production per day. The mine, now operating at near capacity and employing 150 men, lias brought about a feeling of prosperity to the 500 persons who make up the population of the beautiful little town of Rico which nestles beMoab, Utah Moab Mines, Inc., neath the Niggerbaby Mountain. announced that it has delineated Almost the entire male population of Rico is employed at the a commercial ore body mine. feet in length by In 1937 the J. A. Ilogle Interfifty feet in width in the East Canyon uranium min- ests of Salt Lake City gained coning area, San Juan County, Utah. trol of Rico mines. Thereafter the Park Konold Mines, Inc., has One end of the deposit is still mines began to operate on a a drilling program negotiated open, indicating an extension of permanent scale with one low with Boyles Brothers, for its copcommercial ore yet to be traced ebb period in 1949. per properties in Plumas county, by additional exploratory drillThe company program for the California, it was announced toing. first time is designed for contin- day by Richard Cardall, comLocated in the Big Indian Dis- ued development and prosperity. pany attorney. trict, approximately eight miles Today Rico has new homes and The property has been cleared South of the Utex, Standard and new developments of all kinds. a drift started, he said. Carand Homestake uranium mines, the new A hotel the dall said geologists estimate new plus of ore production exists ore discovery is adjacent to the Ricado opened last spring. In a addition the edected company on the claims. He said the comold highly productive Sunset adjaapartment to be in the first pany expects Mine owned by the Molybdenum cent to the hotel for the hotel, fissure next week. Corporation of America. Branson, manager, Mrs. This cannot be determined, The property was drilled out and her husband.Edgar until a report is rehowever, by Moab Mines, Inc., drilling rigs new has The Ricado theater ceived from Boyles Brothers on or Christine Mines, Inc., a Utah 176 seats, and the Ricado Cafe, the companys 1540 foot drift A contract agreeCorporation. which contemplates ment was signed between the two opened last March by Mr. and cutting amhas Rufus Mrs. three fissures. Park Konold offiWilderson, companies by their respective room for customers in its cials estimated it will be 60 days residents, Christine Vye and ple floor dining room and a before the drift is completed. first William J. Owen, whereby the Cardall said Park Konold is ore profits and government bonus banquet room on the second floor. the job with payments will be shared. in op- Northwest Uranium Corp. He have mines Ricos been Recent assays show ore values said the company has adequate 1912 when the of approximately $220 per ton, eration since to complete the initial projfunds was Co. incorporated. but actual shipments will be of ect which a new operating Co. 1937 after has the Hogle Since ower average due to the plan contract 1949 with Boyles Brothers Sherore with worker the mine. In lor mixing considered. be of will the took man charge Hinckley, in order to extract the Cardall said if the operation mining Interests of the Hogle Co. maximum economic potential. encounters the first fissure, it is The bulk of the lead, zinc and iron pyrite, about 150 tons a day, possible the company will be proSUN DRILLS AT MIDWAY comes out of the lower tunnel, ducing ore while completing the from operations in both tunnels. 540 foot drift. The company has Sun Uranium and associates new sulfuric acid plant 1,500,000 shares of par value At the brought a rig on to their recently to acquired property in Midway, iron pyrite will be turned into stock. The stock is quoted 8cEx10 Salt a on the Lake share near Heber on Tuesday starting sulfuric acid for uranium plant use. change. drilling operations. Rico-Argenti- ne Rich Ore On Christine Land LOOKING IT OVER William T. Hines, secretary-treasur- er of Utaco Uranium, Inc., Moab. looks over the drift on company claims in the Coalbed Canyon site southeast of Monticello, Utah. six-hundr- Utaco Coalbed Ore Assays High lit Uranium, Vanadium Content Survey Denver Bureau MOAB, UTAH An ore sample from the drift on the Coalbed canyon claims of Utaco Uranium Co., Inc., assayed .52 per cent uranium and 4.76 vanadium, secretary-treasure- r William T. Ilines reports. The sample was from a small vein just uncovered, which appears to be dipping toward a larger vein found in earlier drilling, Hines said. The drill hole which the drift is nearing went through three feet of good grade ore. The drift now is in about 40 feet from the surface. Wagon-drillinon U tacos Carpenter Ridge claims has been suspended because of terrain difficulties. Utaco officers said. The d Instead, as soon as equipment is availproperty will be able. g core-drille- . - ... - Uranium King Claims Top Vein In White Canyon The biggest uranium ore channel in the White Canyon, t panys Cove claims. The company has an ore channel extending from 2500 to 3500 feet on these sites. The claims are in the White Canyon mining district of San Juan County. The stockholders letter stated an agreement has been affected with a Williston Basin Oil Exploration Co. group, whereby the Williston' group have agreed to follow the ore channel across the Cove claims in an effort to link it with Williston claims directly adjoining Uranium King. The stockholders letter stated that ore assays thus far have proved greater than were expected, estimatng a long term average of .25 to .35 per cent ore will be extracted from the Cove property. The stockholders letter states that plans of the Williston group call for drifting on a two-shibasis, with progress at the rate of 12 to 15 feet per day. Events transpiring in the Cove property, are said to have had an important bearing upon action of the stock of Uranium King on the over - the - counter-markewhere it advanced in a few days this week from nine cents to approximately 17 cents per share in spirited buying. The company has offices in Salt Lake City. ft t, $15,-000,0- 00 ar three-bedroo- m ng Rico-Argenti- ne is Big Indian Turns To Copper On LaSal Property 38-roo- m hundred-thousand-doll- joint-venturi- indicated from Atomic Energy Commission drillings, according to a letter to stockholders, mailed today by the directors of Uranium King Corp., on whose property the channel is reportedly discovered. The letter, which has the approval of the board of directors of Uanium King, states ore is now being shipped from the com- Park Konold Estimates Ore In Millions Big Indian Uranium Corp., has turned attention to production of copper instead of uranium at miles company properties 5 south of LaSal and 30 miles south and east of Moab, it was disclosed today, a spokesman for Big Indian. Joseph Hafen, general manager, ordered his men to quit drilling for uranium when copper was encountered. This week cop per sold at 43 cents. Big Indian has sunk 25 holes for copper and is attempting to get approval for a refining mill. Big Indian spokesmen said the copper ran from .75 to 17 per cent and that the company has copper properties twice the size of Liberty Park here. Hafen feels that enough holes have now been sunk to justify a new mill. Some time ago Big Indian ob tained a $28,000 DMEA loan for copper. Only about $5,000 of that fund has been spent. A new $18,- Cardall said Park Konold is Hafen reported that the copper is only 25 feet under ground and recovery will only require a bull dozer, which could knock off 25 feet, and permit open mining. He feels the outlook is high-grad- e ow-grad-e . promising. KONOLD BURROWS. INTO MOUNTAIN An intensive mining program got underway on copper properties of Park Konold in PARK Plumas county, Calif., three weeks ago. The company expects to hit its first fissure this week. (See additional photo on page 3) |