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Show Septembei 30, 1955 Page Seren The Western Mineral Surrey, Sail Lake City, Utah Experts Aid Foreign Development Stocks To Watch By O. D. Quinlan By O. D. Quinlan Tar Baby Mining Co. is planning a hoist on its property near Blanding. Ore will be hoisted from a depth of 150 feet. The shaft .has been timbered and the hoist will be installed soon. Cate Equipment Co. of Salt Lake City is building the hoist which is to cost an estimated $3,000. Glen M. Ruby, veteran geologist, Salt Lake City tells us he is watching the of Ruby Uranium Corp., a privately held issue for which there is no stock available. It was organized by the Carl M. Co., of New York who took up a group of claims which Ruby had owned and gave Ruby a stock royalty on the property. The property was acquired a year ago stock Loeb-Rhoad- es Temple Mountain Uranium, in addition to shipping uranium lease, is from the now in daily production from the Mona lead property and expects to make silver-leashipments drilling is in progress on the from the Bay Horse Mine at Chal-11- claims. The Carl M. Ida. Co. is a Stocks-Gramlic-h d s, Loeb-Rhoad- multi-millio- n Big Bend Uranium shipped a railroad carload of 70 tons of ore from the Mona B mine Tuesday, averaging .20 per cent. The company has encountered an outcrop which was not anticipated. Only one drill hole has struck it. The operation has drifted through to 1 feet with the outcrop still holding at four to eight feet thickness. 25 . According to Merwin White, Zodiac Uraniums Diamond No. 5, on the Indian Reservation near Cameron, Ariz., has a five foot commercial outcrop of uranium ore extending for 50 to 200 feet around the end of the Mesa, emerging on the opposite side of the Mesa where he also found a good ore showing. Leland Davis, Zo- es dollars cor- poration owning substantial blocks of shares of Vanadium Corporation of America and of Clymax-Molybdenu- m Corp. Spanish Trail has good property and good management which is important. Many companies whose leaders are not mining men are attempting to mine uranium which sometimes means mining at a loss ,wheras if they were experienced in mining they could operate at a possible profit. Among low priced stocks that appear to have promise one could mention Jewel, Olympic, Mayday, Horse Canyon, Circle Cliffs, Marble Canyon, Ol Jato, Big Horn, diac general manager, and prom- Desert Queen and Mother Lode. inent geologist, is making a survey of the potentialities of the Using skills and knowledge ac- States, 14 technical experts of quired in the mines and mineral- the Bureau of Mines are workprocessing plants of the United ing in 11 foregin countries, helping to stimulate mineral production in underdeveloped areas, Secretary of the Interior Douglas McKay disclosed today. The Bureaus work in this field is part of the International N.Cooperation Administrations foreign technical assistance proNew Mexico Bureau gram, Secretary McKay said. Interest in the states mineral These mining engineers and over overshadowed potential metallurgists are contributing forms of business activity during substantially to the economic the past week, according to the strength of free-worlnations regular report on new corpora- and are winning new friends for tions by the New Mexico Cor- the United States in many farporation Commision. away places, he commented. Five of the eight new applicaThe secretary cited as one actions for incorporations were by complishment, expansion of Afmining and exploration compan- ghanistans coal industry, in ies. The corporations filing, names which Bureau mining experts of incorporators and capital played a leading role. structure are: Thanks to this expansion, he Moki Oil & Rare Metals Co. said, the residents of Afghanisof Santa Fe, Carl Ettinger, Dale tans capital city, Kabul, had Erickson and George Lavender, enough coal to keep them warm $300,000 capital stock with $26,-90- 0 last winter for the first time in paid in; Chief Manganese, history. As a result, the United Inc., of Albuquerque, S. A. Tan- States is looked upon as a real ner, L. Yacomo and D. D. Tan- friend by the people of this ner, $250,000 capital stock with small country strategically sit$1,000 paid in; Lost Canyon Ura- uated on Russias southern bornium & Oil Co. of Albuquer- der. Bureau engineers in Brazil are que, Theo J. Docrrie, H. P., and E. Dale Elliott, helping reduce costs and increase $150,000 capital stock with $5000 efficiency in mining industrial paid in; diamonds, so important to AmerAlto Mining Co. of Gallup, T. ican factories. P. Brett, F. P. Brett and Martin When their efforts begin to Hanks, $275,000 capital stock with pay off, Brazils earnings in for$2500 paid in, and Advance Ex- eign exchange from this source ploration Co. of Dallas, Tex., should increase, Secretary McO. G. Allen Jr., F. J. Alexander Kay predicted. In addition, the and J. H. Lennon, $200,000 capi- United States will have close by a source of these high-speetal stock with $200,000 paid in. Minerals Cast Shadow Over M. Activity d Van-dervent- er d abrasives. These are only two examples of the work the Bureau is doing effort to help in a long-rang- e nations of the underdeveloped free world utilize their mineral resources more effectively, the Secretary pointed out. In Israel, Bureau engineers are helping Israeli mining officials improve methods for developing marginal resources of phosphate, potash, copper, and clay. In remote Nepal, which has virtually no mineral production as yet, other Bureau experts are assisting Government officials in developing the mineral resources of the country. The story is similar in the Philippines, where engineers of the Philippine Government are being trained in ways of increasing output and utilization of the coals, and in countrys low-ran- k Mexico, where emphasis is on improving technology and the promoting of mine safety. Principal objective of the foreign technical assistance program, according to Bureau officials, is to help friendly nations help themselves, and thus strengthen resistance against unrest and discontent fostered by economic in- stability. Requirements for experts on foreign assignment are rigid. Not only must they be highly skilled in their profession, but they must be diplomatic, and physically capable of enduring rigorous living conditions for long periods. Other countries in which Bu- reau projects are underway or planned include Colombia, Cuba, Indonesia, Liberia, and Pakistan. property. Desert Rock Uranium Corporation, 9,830,000 shares, is offered the public at one cent a share. Underwriter is Selleneit Brokerage Co., 29 Newhouse Building. Edward T. Walton, one of the original pioneers of the state of Utah and Salt Lake Valley is president of the company. Prop- erties are in the Green River mining district, San Rafael Swell, Emery County, in the Dinosaur Park area, Uintah County, Utah and in Grand County, Utah. Frank Johnson AND DELIVERY FIRESTONE TIRES AND R1TTTRIK WASHING AND POLISHING 5012 South Stale Street Phone AM 36 To the Stockholders of Silver Pick Uranium, Inc. New Developments: Silver Pick has recently taken over the mining operation of four mining claims on Flat Top Mesa, Mesa County, Colorado. Since Silver Pick has taken over the operation of the four claims, a systematic drilling program has been under taken. At the present time, approximately 10,000 feet of This drilling has wagon drilling has been completed. uncovered two ore bodies to the south of the mine workings on Wasp No. 1. These ore bodies are on Depression No. 6 and Rainbow No. 1 claims. Both of these bodies contain apore. The avproximately 1,000 tons of naurium-vanadiuis 0.45 ore bodies of the erage grade per cent uranium oxide and 2.0 per cent vanadium oxide as ascertained by chemical assays. The gross dollar value of these bodies is approximately $100,000.00. This figure is based on the chemical assays of the drill hole samples, the surveyed area of the ore bodies, and comparison with the mill settlement sheets received on the ore shipped from the mine workings on Wasp No. 1. The total gross value of ore in the ground on the Flat Top Mesa properties operated by Silver Pick amounts to approximately $200,000.00 This figure does not include the ore in the mine workings of Wasp No. 1 claim, but represents untouched reserves in the ground. The mine workings on the Wasp No. 1 claim are one hundred feet to the north of the two orebodies located on Depression No. 6 and Rainbow No. 6. The Depression No. 6 and Rainbow No. 1 bodies are within two hundred feet of each other. Drilling around the mine workings on Wasp No. 1 claim uncovered an orebody of excellent grade which was not blocked out by drilling due to its proximity to the mine workings. Approximately 135 tons of uranium-vanadiuore have been removed from this new orebody adjacent to the old mine workings. The ore was shipped to the United States Vanadium Mill at Rifle, Colorado. The first shipment to the mill was 22 tons of 0.45 per cent uranium oxide and 1.94 per cent vanadium oxide for which a payment of $1,342.23 was made. The second shipment was 43 tons of 0.66 per cent uranium oxide and 2.44 per cent vanadium oxide. Silver Pick received a check for $3,749.13 Regular shipments to the mill at Rifle, Colorado are expected to gross between ,$5,000.00 and $7,500.00 monthly. Mining costs are estimated at $10.00 per ton. Dally and monthly production will be stepped up to insure the most profitable mining operation from these properties. m Texaco Service PICK-U- P PROGRESS REPORT Murray. Ut. m Levels - Transits -- Compasses Metal Detectors Geiger and Scintillometers Mineralights Grand Jewelry . 220 So. State Salt Lake City, Utah Other Developments: Silver Picks property on Brushy Basin Wash in the Blanding, Utah area has been approved for a DMEA loan of $32,000.00 by a field team from the United States Geological Survey and the United States Bureau of Mines. The request for a loan for development work has been sent to Washington, D.C., for final approval. Preliminary drilling on the Blanding Claims indicated one hot ore hole, over two and one-hal- f feet thick, which vanauranium oxide and 5.24 chemically assayed 0.68 dium oxide. There were also three other highly mineralized holes. The Company geologist feels this information plus the previous drilling data was instrumental in the USGS field teams approving a loan on this property. Oil Properties: In August, 1955, Silver Pick Uranium, Inc. acquired overriding oil royalty interests in Reagan County, Texas, under Sections 20, 31, 32, Block A, L and S.V. Ry. Co. Survey, Reagan County, Texas. At the present time there are two producing wells from the Spraberry formation in Section 20. It is understood from reliable authority that additional oil has been found In the Clearfork formations in the NE4 of Section 20. In Section 30, adjoining Section 31 to the east, a well is now drilling at approximately 3,000 feet. Your management has also been informed that another well will be commenced in the west half of Section 33 by the end of 1955. It is also understood that a well will probably be drilled in the NE4 of the NW4 of Section 41 in foe very near future. In view of the drilling activity in this area where Silver Pick owns these overriding royalties, the management feels that it has acquired assets that will prove financially sound to the Company. Future Developments: The engineering and geological field crew employed Pick is supervising the drilling and mining acSilver by tivities on Flat Top Mesa; preparing the Brushy Basin Wash properties for a diamond drilling program; and continuing an active search for more mining propeties. In the active seach for additional mining properties, your management has deemed it advisable to diversify its investments. Some of the minerals presently under investigation and study include mercury, mica, copper, producing oil properties, as well as other uranium and vanadium properties. Your management is proud to announce these new developments and also to inform you that Silver Pick Uranium is rapidly establishing itself on a sound financial basis for the future success of the Company. We feel that the uranium industry has made great strides within the past year, and has every indication of becoming one of the giant industries in this country. Your management will continue to keep you informed of the more important activities of the Company from time to time. Very sincerely yours, JAMES P. HARRIS. Piesideut |