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Show September The Western Mineral Survey, Salt Lake City. Utah Page Four 16, 195S Price Exploration Launches 3 Projects New Road Leads Three large uranium projects, one in Wyoming, another in Paradox Valley and a third in the Lukachukai Mountain area of the Navajo Indian Reservation, Ariz., have been started by the Price Exploration Co., it was disclosed by a spokesman of the company. Spencer Uranium Corp., has reThe organization, with offices in the Newhouse office buildcently completed a new road in ing, is backed by the H. C. Price Monument Valley connecting the Co. of Bartlesville, Okla. N. mine with the Shiprock Road, and are shipping supplies as trucks George Travis, general manabecome available. ger, has offices in Grand JuncSpokesmen of the company tion, Colo, with Darwin Quigley who recently returned from the and Charles Shannon, both of scene of operations said high the Bureau Mexico New Salt Lake City, are chief geolohas been encountered ore Members of the New Mexico grade gists. J. C. (Jack) Burgess, letf, president MEKUER COMPLETED west on side of the channel . the Production has just started, Petroleum Industries comiriittee F. Albert with which hands shakes Uranium Atlas of appears in abundant supEnyart, Corp., and outlining ore In the concluded a meeting in drilling N. M., this week after hear- ply. Shipments are going out at Lukachukai Mountain project of president of Paramount Uranium, following Paramount stocksubstantial profit, spokesmen holders meeting in Moab. The two companies will merge with Arizona, it was announced. ing speeches on major aspects of said. Production is on a profitable the industry and electing officers. Paramount stockholders receiving one share of Atlas for Spokesmen said several large basis in the Paradox Valley and Among the major talks was one contracting and mining firms are each 15 shares of Paramount. actual production is getting un- by G. A. Mabry, manager of ad negotiating with the company derway this week, in the Wyom- vertising and public relations for to operate the properties. Howing area, a spokesman disclosed. the Humble Oil Co. of Houston, ever, it was stated by the spokesFinal Step The Paradox Valley project is Tex. He said surveys show the men that Spencer will continue reported to be producing 15 to majority of the people think well to operate the mine until an ar20 tons of uranium ore a day with of the oil industry, which must rangement can be consummated an assay average of .40 per cent, continue efforts to maintain and that is thoroughly satisfactory to which nets the company $38 per deserve this goodwill. officers of the company. and Paraton. Atlas of Uranium Other speakers included Harry UTAH MOAB, Corp. Merger Spencer has a channel on two 60 Co. The G. has claims of Fair in Petroleum company sides of Vanadium Corp. of Phillips mount stockholders here Monday. Paradox Valley, and 600 acres, or of Bartlesville, Okla.; John Mat- America property. VCA is said to Under the agreement Atlas is purchasing all Paramount 30 claims in the Lukachukai thews of E. I. du Ponte de Nem- have shipped several million Mountain area. The Wyoming ours & Co. of Amarillo, Tex., and dollars worth of ore from its assets. Fred Pennington of Magnolia Pet- property nearby. property consists of 25 claims. Price Exploration Co. also has roleum Co., Dallas. Paramount stockholders will receive one share of Atlas for an interest in oil enterprises, a W. C. George, division manager eachl5, shares of Paramount. The UCA recentfor company geologist having Phillips Petroleum Co. at ration was based on comparative In addition to numerous other market values of the two issues. promising uranium properties, ly returned from Washington Amarillo, was named committee About 23 million shares of 37 Atlas holds a gas and oil lease State, where he inspected some chairman to succeed C. A. Copple New Mexico Bureau of Roswell, N. W. million outstanding were repre- on more than 3,500 acres on the oil properties. Uranium Corp. of America, a sented at the Paramount meeting. Durango anticline in LaPlata Mexico New corporation has reThe vote in favor of merger was county, Colo. In Wyoming ported drilling operations on its almost unanimous, company offi21 Queen Anne claims in Monu- President of Atlas is J. C. cials said. ment Canyn 25 miles west f EXTENDS Atlas acquires through the mer- (Jack) Burgess, formerly of Salt Dove Creek, Colo., in San Jaun His company, which ger more than 100 uranium Lake City. Moab Mines, Inc. announced the acquisition of 28 addition- County, Utah. claims, including one mine which was established and recapitalized Malcolm I. Cole, company presal, uranium mining claims located in Converse County, approxhas produced considerable ore. at $10,000,000 last June. ident, said 4,000 to 6,000 feet of Purchase of Paramount is one imately 15 miles north of Another group of claims is in the Douglas, Wyo. is planned on the development stage. Atlas also will of the first major steps in the 560 acres over Wasatch formation (Tertiary Age), drilling Covering BurAtlas expansion program. gain about $150,000 cash, plus the claims overlie the same hori--' gess indicated his company may other assets. zon where uranium ore in the Atlas already has one produc- go. into mining fields other than area is now being mined by shalthe Last Chance in uranium. This Offering Made Only By Means of the Offering Circular,, ing mine methods. Paramount president is Albert low, open-pi- t Browns Hole, San Juan county, and Only to Bona Fide Residents oi the State of Utah There is less five feet of Utah which has been shipping Enyart, of Moab and Durango, overburden on than the Loman Co. Colo. regularly since February. east of the miles three properties, To Spencer's Shiprock Land M. Petroleum Meet Probes Industry Views Rui-dos- o, Atlas, Paramount Finish Merger Drills On Queen Anne MOAB MINES Moab Mines, Inc. claims. The Kerr McGee and the Upetco companies are operating mines approximately 10 open-pi- t miles to the north. Some of the uranium ore in the Converse county area has assayed as high as two per cent. The high scintillation readings of the Moab Mines property are to be investigated further before the company begins its shallow drilling operations. If commercial quantity ore is discovered, open-pi- t mining will proceed. The property was acquired by the Moab Mines, Inc. president, William J. Owen, after his second inspection of the Wyoming area during the Labor Day weekend. Mining extractions from the area are being shipped to the ura- Closing Sept. 30 OFFERING TO THE PUBLIC flc 9.830.000 SHARES AT B HOLDINGS nium t, station in South Dakota. Moab Mines, Inc. property is now spread into five western states: Wyoming, Colorado, Utah, Nevada and California. The new Wyoming claims increase the company holdings to 5,240 acres PerSh" Par Value Offering Price SELLENEIT BROKERAGE CO. ore-buyin- g STRATEGIC METALS RESEARCH, INC. 8,000,000 SHARES Non-assessa- ble OFFERING PER SHARE PRICE Strategic Metals Research, Inc. will be engaged in the exploration of nranlna and vanadium ores and other valuable minerals. JIN OFFERING CIRCULAR MAT BE OBTAINED FROM THE UNDERWRITER OR TOUR BROKER MEDNICK BROKERAGE CO. Edge-mon- 422 SOUTH MAIN SALT LAKE CITY. UTAH PHONE 22-58- 58 T WX-SU- -6 2X PRINCIPAL UNDERWRITERS 529 Newbonse Building, Exchange Place, Dial 09 MEDNICK BROKERAGE CO, - 442 Sonth Main, Salt Lake City, Utah This stock is for sale to bona fide residents of the state of Utah. Sales effected only by means of the offering circular. WATCH FUTURE ADS FOR BROKERS WHO HAVE DEAS0N STOCK AND NICHOLS Assay and Chemist Please send offering circular on Desert Rock to: GENTLEMEN: Please send me a copy of the STRATEGIC METALS INC, offering circular NAME .. NAME ADDRESS j CITY & STATE .. I 160 South West Temple ADDRESS - CITY ...... Phone 62 |
