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Show KEEP POSTED ON UBANIUM "On u& IflcAt Significance in The Oil 'anflttining Wnld One Tear $3.00 Salt Lake City, Ulak, September 23. 1953 Vol. 26; No. 36 4 Will Speak Congressmen ;g Program To Mining Convention V King Oil Readif Officials of King Oil Corp. said today they expect in two weeks to start reworking the company'' Ruby No. 2 well, in the Big structure in Grand county, wl it is planned to perforate t 6260 foot zone. r The company previously had a big showing of oil, 50 to 80 barrels an hour. According to its contract, King Oil was required to complete a well in paying quantity in the Mississippi Limestone, to com- plete the contract and earn 50 per cent interest in the unit. Mechanical difficulties resulted in a severe financial setback. With preparations about completed for new financing, it is planned to return and perforate the upper zone. King officials say it looks favorable. King Oil, a new company, only two years old, had a spectacular advance in price when oil was found in Big Flat Unit No. 2, the stock rising to 30 cents per share early last January. Now selling at about 9 cents a share, the stock has particular appeal from a speculative and an investment standpoint, as preparations start to rework the well. Tonopah North Star Tunnel and Development Co. is presently drilling nearby at approximately 2600 feet. The well offsets the Big Flat Unit block. Ward R. McAlister is president of King Oil, with offices on the fifth floor of the Phillips Petroleum Bldg., in Salt Lake City. Acquired Oil tanker fills up with first load from King Oil Ruby No. 2 Well in Big Flat, Grand county, Utah. Officials! claim well will perforate the 6260 foot zone. KING DRILL RIG UCA PLANS NEW PILOT MILL HERE Uranium Corporation of America is preparing foundations for installation of a new uranium pilot mill the company plans to erect in Salt Lake City as soon as machinery and equipment for the mill arrives here. It will be the first uranium pilot mill to built here. John H. White, Jr. president of UCOA said the Company has received a promise of delivery of equipment in from four to six weeks. He said the mill will be set up as soon as the equipment arrives here. King Oil prepares to resume drilling operations county holdings in Colonial - Out Ore Body company. A body of ore has been discovered in the tunnel, which according to Mr. Conder, is seven feet high and 10 feet wide, and extends beyond the walls of the tunnel a distance at this time undetermined, Mr. Conder said. He estimated the ore counts at approximately .50 per cent. Big Bend officials are preparing to ship an initial load of ore to the receiving station of Vitro Chqpiical Corp., in Salt Lake City, Mr. Conder declared. Members of both Houses of Congress, Washington, D. C. Administration officials, and leaders in the mining industry will address the 1955 Metal Mining and Industrial Minerals Conven-io- n of the American Mining Congress at Las Vegas, Nevada, he week of October 9. The program for the meeting is virtually complete and the national committee which arranged it has developed a slate of subjects and speakers that will bring out the best thinking of die industry on national mineral policies and mineral and metal production practices. Among the headliners so far scheduled to appear on the program are Interior Secretary Duog-la- s McKay, who will discuss the relationship of the Interior Department with the mining industry, and ODM Director Arthur S. Flemming, who will report on By mobilization progress and mining. Survey Denver Bureau Other Administration- officials GRAND JUNCTION, COLO. who will take part in the Convennews in the fast tion program include Assistant Significant came thorium Secretary of Interior Felix E. ths week with the industry announcement Wormser, Assistant Secretary of that Colonial Uranium Co. has Agriculture Ervin L. Peterson, Incontrol of Thorium ternal Revenue Commissioner T. acquired America. of Coleman Andrews, National La- Corp. Robert I. Ludwig, Colonial presbor Relations Board Acting Chairman Philip Ray Rodgers, Atomic ident, said the company assumed control with the recent acquisiEnergy Commission Raw Mate- tion of all outstanding shares of rials Director Jesse Johnson, and TCA. stock in Defense Minerals Exploration AdThis new move means that Coministration Chief Clarence O. will take the lead in filllonial Mittendorf. ing the .fat $1,000,000 in contracts A number of outstanding con- which TCA holds with Lindsay gressmen and senators will also Chemical Co. for production of play a leading role In the Con- thorium concentrates. It also vention activities. brings Colonial a larger share of Senator Barry Goldwater (Rep., other important interests owned Ariz.) will present his views on by TCA, Ludwig said. Colonial and TCA now plan to public relations in mining comon an early program to an embark at munities afternoon session, 10. create milling facilities for proOct. On Tuesday morning, Oct. 11, cessing thorium ores now obtaina public lands panel will be pre- able in Colorado, Wyoming and sided over by Senator Frank A. New Mexico, Ludwig said. He Barrett (Rep., Wyo.); participat- added that this meant that this meant particularly thorium proping in the panel discussion will be Senators Clinton P. Ander- erties on both the east and west son (Dem., NM.) and Arthur V. slopes of the Rocky Mountains Watkins (Rep., Utah); Represen- controlled by Colonial and TCA. Colonial previously had held a tatives Clair Engle (Dem., Calif.), 35 per cent interest in TCA. CoHarris Ellsworth (Rep., Ore.), and Cliff Young (Rep. Nev.), in lonial also owns 20 per cent inaddition to spokesmen for the terest in Lindsay Rare Earth Departments of Agriculture and has which Co., just comInterior and representatives of Mining a surface and pleted underground the mining industry. development under a $40,000 DeRep. Engle, who is chairman fense Minerals Exploration loan. of the House Interior and Insular Affairs Committee, will also address the Strategic Minerals N'West - Park Konold Luncheon on Tuesday noon, while Senator Anderson, who is chair- Announce Strike Nickolas Anselmo, president of man of the Joint Congressional Committee on Atomic Energy Northwest Uranium Co. and Frawill present a feature address on ser Buck, secretary of Park Thorium Corp. Big Bend Blocks Between $600,000 and $800,000 worth of ore has been blocked out by Big Bend Uranium Corp., on its Nona B No. 1 claim, it was announced by Dean E. Conder, secretary and treasurer of the 10c Per Copy at Grand Utah. Chemical-Cli-max-Moly-controll- Horse Canyon Universal Hits Good Ore ical firm assuming all expenses. He said the best of the discovery property is on Horse Canyon. Although there have been re ports an upgrading mill is planned in the Horse Canyon area, Ernest Thurlow, manager of the Salt Lake City office of the Atomic Energy Commision, said none has been started to his Universal. Mr. Eubank said Universal has knowledge. When private enterprise erects a substantial ore body, with asan of minimum a upgrading mill, contact is says ranging from 4 of .15 per cent to a top per usually established with the AEC cent. He indicated the average in order to guarantee a contrac could easily be .50 per cent to to dispose of the final product to the government. .60 per cent. Mr. Thurlow however, said The ore find is described as on Horse Canyon, close to Circle decision for approval of such a Cliffs. Dean F. Morrin, of Ogden, contract by the government come Urawould from the Grand is President of Universal Colorado office of the nium Corp., of Ogden. Junction, A.E.C. If future exploratory work He said there has been some bears out what preliminary exEuof an ore buying station talk has Mr. uncovered, ploration bank said the eastern chemical near Green River and some sort company plans to negotiate a of upgrading mill in White lease with Universal, the chem Universal Uranium Corp., of Ogden, has hit some high grade ore in Horse Canyon, and money has been appropriated by a large eastern chemical manufacturing company to go in and complete exploration work, it was disclosed today by Carlyle Eubank, of Ogden, secretary and treasurer of ed atomic energy policies at a Konold Mines Corp., announced Wednesday afternoon session, Oc- drift toward the old Five Bears tober 12. Senator Henry C. Dworshak (Rep. Idaho) will preside over a panel discussion of mineral tariffs on Wednesday morning, October 12. Participating as members of the panel will be Senator George W. Malone (Rep., Nev.), Representatives Wiliam A. Dawson (Rep. Utah) and John Rhodes Rep. Ariz.), as well as speakers from the domestic and Canadian mining industries. A taxation session, which will follow the tariff discussion, will have as its presiding officer Senator Thomas E. Martin (Rep. Ia.), with Internal Revenue Commis (See CONGRESS Page 2) tunnel while the fissure intersected will be further explored and the ore will be stockpiled, pending determination by the companies to build a mill. Work will continue along the today that the boards of directors of both companies were advised Thursday that the joint venture operation of the Plumas county, Calif, copper properties had resulted in a strike on the first fissure as had been expected. Boyle Bros. Drilling Co. is doing the mining for the joint venture. The strike was made about 150 feet from the portal and is in the sulphide horizon, according to reports received by the |