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Show September 9, 1933 Page Three The Weitera Mineral Survey. Salt Lake City. Utah UCA Drills Queen A. Claims 12 Tons Equal SI, 000 Plans Foot Program Chute Canyon Uranium Collects on Ore Denver planned Uranium Location Near in Juan BEAVER MESA LOADS. SHIPS property near the corporation with field plans headquarters in Mt. within the next operations Temple drilling its in miles three Juan property west ooks Good 1-- 2 6-4,0- 00 Bureau Survey CORTEZ, COLO. Corp. of America, a New Mexico closed Cortez, now is 21 Queen Anne claims Monument Canyon, 25 of Dove Creek, Colo. Malcolm I. Cole, president, said from 4,000 to 6,000 feet of drill- - on the group. The San county, Colorado line. Utah, The company also to begin weeks on its Montezuma in San Canyon county, Cole said. ing is is -- Uranium Corp. of America which has no connection with a Muir-Dumke-LiUtah corporation of the same name also has properties in the Big Indian and Kane Canyon disOpen in S. L., Buy tricts of San Juan county, Utah; in the Rico, Colo., area; and in N.Y. Stock Seat Rio Arriba, Otero, Union and Several important changes took Quay counties, N. M. place this week in the uranium Cole, head of the company, for brokerage business here in Salt eight years was an engineer with-thLake City. Zia Co. at Los Alamos, N.M., The partnership of Muir, Dum- before he resigned to enter the ke and Light, opened new and uranium field. He formedly was commodious offices at 80 South of Dallas, Texas. Main Street. The organization which began business 16 months ago, recently reorganized to include G. A. Light as a partner. Muir, Dumke and Light presently hold seats on the San Francisco and the Salt Lake City stock exchanges and recently purchased a seat on the New York Stock Exchange. Uranium and gold mining conDoxey-Merkle- y & Co., 240 So. tinued to hold the spotlight this 2nd East, completed negotiations week in the Cripple Creek, Colo, to take over the this week-en- d area. business of the Ned J. Bowman Samples taken from the Myron Co. at 10 West 2nd South. Stratton property recently by the Capitol Securities Co., 303 Dar- Stratton Cripple Creek Mining ling Building, expanded its staff and Development Co. were valuat mid-wee- k by the addition of ed at $300 per ton. six experienced stock salesmen. The company is following the Atomic Energy Commissions Seven Company suggestion to sink a shaft and send additional samples. SHIPMENTS WILL SOON TOTAL 1000 TONS One of BeavInitial random samples assayed Okehed Merger er Mesa's ore trucks being loaded with ore assaying at 35 to showed some of the uranium ore .40 per cent from their Pack Rat Mine, 85 miles south of Final approval of two mergers running as high as two per cent, was reported this week in Den- according to Carl Chamberlin, ofGrand Junction, Colo. Adver. of ficial the Stratton firm. Uranium and oil industries fil- ditional reports are expected eared papers with the Colorado sec- ly next week. Coombs Surveys Early last month gold ore retary of state to complete the worth nearly $1000 per ton was merge. involved include John shipped to the smelter. Companies Geroni-mo- , is Denver Blue Mountain, Deerksen, Allred, president of Wildcat the mining company now shipHenry Mountains, and and World Uranium Corps, ping from the famous Strong Co. These mine. the Midwest Uranium The Cripple Creek district has seven companies have now formed the Midwest Consolidated Ura- long been famed for its rich gold The Research Department of much drilling and exploration as nium Corp. deposits. The Stratton uranium deposit is the only known deposit Coombs & Co. in its weekly anal- the DMEA loan, Utah Premier obysis devotes considerable space tained release from accepting this in the area. to the potentialities of the stock loan. Their positive views are that ATTENTION MINERS of Uranium Co. Phillips Petroleum pay Utah Premier $10,000 consideration for The review reads as follows: We have the largest stock of the contract. Phillips Petroleums strategical signing suction and discharge hose in minerals division has recently U-Fir- ms Also, Utah Premier holds a two the Intermountain area. From 0 a effected diajoint operating 6 per cent royalty on Republics 516 inch to inches in to Utah Premier with agreement meter. This hose is all governproperty recently reduced from New Mexico Bureau take over the exploration and four per cent, in return for $4,000 ment surplus, new and used. e claim cash and 300,000 shares of RepubThe office of the State Mining operation of a Also electric wire and pumps. mid- lic stock. zone on mineralized block Inspector in Albuquerque, N.M., PHONE COLLECT OR Mi Vida and is preparing complaints against way between the The high speculative value of WRITE a number of New Mexico mining Homestake ore bodies to the the property presents a particfirms for failing to file annual northwest of Continentals ore ularly attractive stiuation. Dont pass this one up body to the east. reports of their operations. ght e Gold, Uranium Dominate Cripple Creek Utah Prem. Couples With Phillips in Southern Utah Utah-Premi- Mining Inspector To Crack er 50-5- Chute Canyon Uranium Corp., recently shipped 12 tons of ore which assayed .53 per cent, bringing the company, a little over $1000 without the bonus, it was announced by Claude Salisbury, secretary and treasurer. The company is driving for an objective based upon the fact one of the drill holes showed the likelihood of very good deposits. Workmen at the mine believe they are now 40 to 50 feet from their objective. Chute Canyon property is 7 miles from Temple Mountain, and directly on the Plateau. The company has a reserve of $40,000 in the treasury, all equip- ment paid for, no bills outstanding, and no royalties to meet. Chute Canyon has a lease on all of its property. The company has 2,370,000 shares of stock outstanding, one-hain escrow. Shares issued and on the market total 1,120,000. The stock originally sold at 10 cents. Chute Canyon has had several merger hints, but officials do not contemplate a merger. Frank Morgan, of Springville is president and general manager. Claude Salisbury, Salt Lake City, is secretary and treasurer. lf Rex Ships 20 Tons; Buys Property New Mexico Bureau Rex Uranium Co. of Farming-ton- , N. M., has made an initial shipment of 20 tons of ore from its Blue Bird Mine near Monti-cellUtah, R. J. Scanlon, company president, has reported. The company also has acquired 13 additional claims in the East Happy Canyon and an option on 56 Red Canyon claims in San Juan county, Utah, Scanlon said. o, The Utah State Land Board has adopted a sliding scale of uranium royalties for state-owne- d land to replace the flat 12 per cent royalty. The scale was decided on when the State Board investigated and found the former rate was too high for successful operation of low grade ore bodies. 500-acr- SURPLUS SALES B & L P. O. Box 150 Phone Ogden, Utah 45 John Garcia, the mine inspector, said the complaints probably would be filed late this week. Violation of the law requiring the annual reports is a Relatively little drilling has been done in the highly potential intervening area stretching over eight miles. It is estimated that Phillips will drill about $135,000 worth or 45,000 feet of drilling work on Utah Premiers property interbefore earning its est. The initial phase calls for feet of drilling to be completed by the end of 1955. The second phase calls for 25,000 feet of drilling scheduled for 1956. If commercial ore is discovered, Phillips will operate the property. The first drilling on the property has already commenced. The agreement was executed after Utah Premiers application for DMEA drilling loan of $25,000 had been approved. Inasmuch as the Phillips agreement provides for five times as one-ha- lf 20,-00- 30,000 ACRES County, New (Approximately) Mexico. State Mineral Leases in Producing in Valencia Grants Area. NEW 5 YEAR LEASES - TERMS Write Box 642, Salt Lake City, Utah For Further Information 0 THE TREND IS TO "SELECTIVE" BUYING Write, Phone, or Drop-i- n For the Latest Quotes And Information On Selected Uranium Stocks SELECTED SECURITIES 426-42- 7 ATLAS BLDG. Salt Lake City, Utah Phone 77 TWX-SU6- 3 Levels - Transits -- Compasses Metal Detectors Geiger and Scintillometers Mineralighls Grand Jewelry 220 So. State Salt Lake City, Utah |