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Show Significance in The Oil and Mining World'' "Ocr Salt Lake City. Utah. December 2. 1955 Vel. 26; No. 42 Ose Tear $3.00 10c Per Copy Atlas Blocks Copper Worth $2 Million Utah Atias Uranium Corp. revealed today that valued ore copper conservatively at $2,500,000 has been blocked Dut on two Atlas claims in the Lisbon Valley, southeast of Moab in San Juan county. President J. C. Burgess of Atlas said flow sheet studies already are underway to determine the most economical recovery process, and that a major equipment firm has expressed interest in constructing a mill for Atlas. The Atlas copper discovery has been known in Moab for nearly Sale three months, but the company Biggest withheld public announcement until today. MOAB, THIRD WAS THE CHARM Biff Piney hit an other Jackpot with a 54,000.000 cubio foot well brought in this week. Located near Biff Piney it is the largest ffas well in the vicinity. Big Piney Scores Third Wyo. Gas Strike Big Piney Oil and Uranium Corp. this week brought in their third gas well on the companys Wyoming property. The well produced 54,000,000 cubic feet of gas per day on the initial test, according to J. Tracey Wootton, president and manager. The well is located 10 miles west of Big Piney, Wyoming, five miles south of Big Piney s first two gas wells. It is noted as die largest producer in the area. Company officials predict the new Well will ultimately prove bigger than the two previous wells. The second well, Wootton said, was completed Oct. 12 'and tested at 10,000,000 cubic feet of gas per day. Wootton, in a letter to stockholders Tuesday, said the No. 3 well has been cased and is ready for production. It was drilled to a depth of 1924 feet within a month, he added. Tests on the well are conducted by C. W. Evelyn, Jr., petroleum engineer of Casper, Wyo. -- Yosemite Drilling To Uncover Extent of Ore Yosemite Uranium Corp., has discovered a large body of ore on its Ranch-V- u claims on the Dolores River near Deweys Bridge, 34 miles north of Moab, according to Stephen Vranes, president. in Big Piney field in succeeding months, according to. Wootton, who believes his associates now have" an understanding of the geology of the field that will enable them to bring in wells without 'much' chance of missing on even one well. It appears the company has a good likelihood of bringing in oil wells in the Big Piney Field as well as gas, because oil The company is core drilling is being struck on adjoining now to determine the extent of leases by other operators in line the' ore body, he said. The propwith Big Pineys holdings. erty is in the Thompson, Utah mining area, 12 miles from Cisco. Wootton said the well flows One vein runs from three to six feet in thickness and is 50 gas at the 54,000,000 cubic feet feet wide, Vranes said. A drill- rate, with a 210 pound backing program to block out the pressure and with the hole not ore is underway, he added. cleaned out. He said The company started operations July 7. It now has a total of 80 claims, 59 showing mineralization, Vranes said. The other claims he said, will have to be core drilled as they are in a steep embankment. According to Vranes, one track load of ore totaling 4V tons was shipped Nov. 2, averaging .31 per cent uranium and 2.9 per cent vanadium. President Vranes estimated his company has spent $34,000 building roads and developing the claims. He is about ready to ship, he said. yet fully he and his associates believe, the well will be even larger than its present size, when the cleanout is completed. As far as we know, Wootton said, the No. 3 well is already the second largest well in the Big Piney Field. It was cased and cemented Just in time to avoid the early November snow storm, when the Big Piney temperature hovered around 40 degrees below zero. A considerable number of additional gas wells is anticipated Rare Earths Ship First Grams The first shipment (in of grams) yttrium, praseodymium and dysprosium, went out Thursday afternoon from the plant of the Minerals Refining Co., in Murray, Utah it was announced by President Lewis IL Larson.' The shipment represents of an order for rare earths from the U.S. Government. It was shipped to the Bureau of Mines at Reno, Nev. one-ha- lf We wanted to be certain that Happy Jack Sold for $30 Million we had something worth talking about, Burgess said. Now we are certain that we have the ore, and that it can be mined and The famed Happy Jack uraprocessed at a profit. nium mine in White Canyon, Atlas made its copper strike Utah, has been sold to a large last August, Burgess disclosed. syndicate headed by three WestWhen further drilling and assays ern mining groups for a reported revealed a substantial ore body $30,000,000. Announcement of the sale was had been located, the Colorado this week by L. J. Bares, made School of Mines Research Fountpresident-genervice manager dation was asked to make studies of Brothers of New York, Foley on recovery methods. Studies al- one of the participating firms. so have been undertaken by The down-paymeamount was not revealed. other agencies. Sale of the mine, which has a Wells have been drilled to assure an ample supply of water potential of more than 500,000 tons of .35 grade uranium ore, for a processing mill, Burgess is reported to be one of the largsaid. Ore lies near the surface, est, if not the largest uranium so that economical strip mining transaction ever negotiated on the Colorado Plateau. will be possible. al nt The purchase price will be paid in a period. Bares said. National Mining and Milling Company is the' name of the buying syndicate. Groups included in the syndicate are: Foley Brothers, Inc. (Edward T. Foley, Pasadena, and Foley of Roads now are being built in New York); The Christiana Oil the unexplored area, and further Co., Denver; Lewis H. Douglas drilling is planned immediately. group, Tucson, Ariz., and EdThe Atlas ore body lies in the ward C. Simmons, Los Angeles. general area of properties which The famed mine which was produced millions in copper in originally purchased, as a copearlier years, before a price drop per venture in 1948 by Fletcher made mining unprofitable. ind Grant Bronson and Joseph Atlas Uranium, headquartered Cooper, all of Monticello, turned in Moab, hag been shipping ura- into a uranium mine worth milnium ore steadily since last Feb- lions of dollars of high grade ruary from its Last Chance mine ore. in Brown's Hole, San Juan counTwo weeks ago the Barlu Oil The Atlas president pointed out that the two claims on which copper has been blocked out have been completely drilled. The company has 19 other adjacent and surrounding claims. ty. 10-ye- ar Dallas, Texas, obtained to In addition to extensive ura- iption buy the mine for This option was assigned nium properties, the company holds oil and gas leases on the to the National syndicate with in-SDurango anticline in La Plata Barlu retaining minority HAPPY JACK page 7 county, Colo. Dorp., $25,-)00,00- 0. ee ngineers Make Fortune Supplying 'Fortune Hunt' Machines available for the simple reason Survey Denver Bureau Want to make a quarter-millio- n that no company was making it. did dollars? Heres how four men Why dont we make the stuff? suggested Miller. it in less than a year. In December 1954, four Grand They never went back to their Junction engineers Donald A. old jobs. Instead, they sent in Miller, James R. Wilson, G. their resignations, pooled their Herb Gill and Robert Van Houten savings of $2,500 and formed the took a few days off from their Atomic Engineering Corp. their jobs building precision inLooking around for a location, struments for a prospecting trip the four jmen 'elected Grand Junction as the largest city in in the rugged Utah wilderness. In camp one night they got to the very heart of the uranium talking about geiger counters and country. Finding a suitable buildother tools of the Atomic Age ing in the booming community sourdough. They agreed that proved a problem. However, the really ideal equipment was un firm opened for business on - in an abandoned chased from as far afield as Calislaughterhouse, with 800 square fornia. feet of floorspace and a plan. In its first month the infant company did $789.80 worth of business. Six months later, in With their capital limited to July, Atomic Engineering Corp. the price of a good second-hantook in $12,762.98, bringing its car, the total sales for the first six resorted to the months of existence to more than method to convert their $42,000, with another $31,850 in slaughterhouse into a factory. unfilled orders. While covering the walls with Says plant manager Don Milwallboard the men found yellow- ler, Weve had more orders than ed newspapers dating back to we could handle from the day we the turn of the century. opened up. To scratch finances even more, How do the A.E.C.s founders used machine tools were pur account for this remarkable suc January 10, 1955 lf d engineers-turned-indus-trialis- ts cess? Its just the old story of the better mousetrap, says business manager Jim Wilson. Filling The Need There was definitely a need for superior and highly specialized prospecting equipment, and we were just the first to do something about it. The companys first product was a unique gamma logging probe, hermetically sealed against jmoisture and capable of pro-- f ducing an accurate stratagraphie record hundreds of feet underground. The Instrument met with See SUCCESS pg. 7 |