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Show Humble Oil Outlines Extensive Marketing, Sales Plan for '56 Western Firms Go On Buying Spree New Mexico Bureau pansion into marketing at a speOfficials of Humble Oil & Re. cial luncheon held in Albuquerfining Co., one of the major oil que. and gas producers in New MexiH. W. Ferguson, Humble vice co, outlined progress of its ex- president in charge of Tefining and sales, and F. A. Watts, company sales manager, said that plans are being completed for making Humble products available throughout the state. Gasoline will be manufactured in New tes Mexico from New Mexico crude to meet company specifications, Five States MOAB, Utah said. Uranium Corp. miners broke they The company plans to build loose 40 tons of ore with a single in the this week round companys nearly 40 service stations through3 No. mine on the out New Mexico as well as bulk Dirty Devil San Rafael Swell, Secretary-Treasure- r outlets in Albuquerue, Roswell Webster H. Russell of and Clovis. Operations in New N. M., reported Mexico will include exploration Albuquerque, as well as production and sales. here. Miners are working an eight-foo- t Humble first started operations ore face, and prductlon is in the state with exploration in being increased to 30 tons daily, Lea county in southeastern New Mexico in 1925. Russell said. to east of that part the Drifting of the channel which was drilled POLARIS, controlled by Hecla, dividend it has earlier has increased the known passed the ore body considerably, Russell been paying in recent quarters. said. No estimate on total size of Earnings have decreased in the the deposit has been made, since last two quarters and directors decided to preserve $1,200,000 in has been only partially drilled. Webster was accompanied on working capital for development an inspection of the mine by programs now under way or Frank E. Yockey of Bloomfield, planned. These programs should N. M., Five States vice president. pay out in the end. Single Round Fires Loose 40 Tons at Ore February 10, 1956 THE WESTEBN MINERAL SURVEY Page Fonx 5-Sta- nt Silver Stan'rd Splurge Nets Oil, Gas, Uranium Ranger Acquires Oklahoma Oil Lease; To Drill Co. announced toManagement of Silver Standard Mining into to acquire a 12 day, that negotiations have been entered oil wells in Brooks county, per cent interest in two producing Texas, 12 per cent interest in one gas well in Kearns Southern Utah, county, Calif., and two uranium properties in the second in Temple Moun- one in die Four Comers area, the tain district. Ranger Uraand Developnium Exploration Oklahoma an ment Co. has added oil lease to its holdings, it was disclosed here today. A company announcement said that Ranger, in a joint venture with Utaco Uranium, Inc., of Moab, has acquired an lease in Wagoner county, Oklahoma. The lease, in the Red Bird district, was purchased from WilMOAB, Utah 80-ac- re liam G. Brownfield. D. E. Kivett, president of Utaco and also spokesman for Ranger, said arrangements now are being made for drilling the lease and that drilling may be started in tract is surMarch. The rounded by producing wells, he said. 80-ac- re The Oklahoma lease is the first venture for both Ranger and Utaco. Uranium Hunting Still Popular New Mexico Bureau Intermountain Stamp Works CLYDE UD UHL PiHHIEH, Omen north-centr- BRONZE MEMORIALS RUBBER STAMPS MACHINE ENGRAVED PLATES IUT 242 04 Utah's Major Basic Industry Mining Last PHONE EL 2ND SOUTH Uranium prospecting is still active in the Sabinoso region of New Mexico, State Mine Inspector John Garcia said after visiting the area earlier this week. year Utah mining produced metallic minerals worth $242,800,000, mineral fuels worth $51,123,000 and worth $32,482,000 a total market value of is the $326,412,000. Mining biggest basic industry In our the number one contributor to our economy. A state prosperous mining industry means a prosperous Utah. non-metaili- al Garcia said he visited the San Carlos Uranium Co. mine in Section four miles west of Sabinoso. He said he saw hot samples taken from a tunnel being driven there but added that the operation is still in the exploration stage. Geological surveys have shown potentially good prospects in the area. However, several rumors of huge strikes were never verified. cs UTAH MINING ASSOCIATION "From the earth comes an abundant life for all " Mining Hi-Lit- es DAYBREAK URANIUM resum-le- d shipments of stockpiled autun-it-e from its Mount Spokane open-pi- t mine, following lifting of hauling restrictions brought on by Jsoft road conditions. Management expects to ship 26 cars while the mine road remains frozen to bring total Daybreak shipments to 100 cars. SILVER CHIEFTAIN Subscribe tlou! Right now the circulation oi the WESTERN MINERAL SURVEY is keeping pace with the uranium industry in general booming! Keep posted on latest news and quotations by reading the WESTERN MINERAL SURVEY regularly . . . every week. SUBSCRIBE NOW! I 2 year $3.00 years $5.00 Circulation Departments 722 Kiltredge Building 42X Church NAME SL-- P. 0. Bos 2131 Salt Lake City. Utah Denver; Colorado : ADDRESS CITY Remittance found some good ore since resuming deep exploration work in DEAS0N Bill me later approximately 500 individual stockholders scattered throughout the United States. It was disclosed that plans call for election of some new officers. A letter to stockholders will be mailed in a few days, management declared. Corp. Pumps New Texas Oil Property Sahara of Management Ura- nium Corp. announced today that the company owns a 25 per cent interest in approximately 320 acres of oil property at Iatan, North Field, Howard County, Texas. An oil well has been drilled on the property to a depth of 2,852 feet with a demonstrated capacity in excess of 200 barrels per day, company officials said. Officials said the company plans to pump the well for 30 days in order to determine the exact capacity of the well. Plans are under way for the drilling of a second well on the same structure, management announced. It was disclosed that the company has ample funds in the treasury to drill a total of five wells. Gas is reported increasing as the pumping operation progresses, which management said indicates a satisfactory oil welL Sahara Uranium originally issued a total of 6,000,000 shares of stock at a penny a share which total constitutes the entire outstanding issue. The stock now sells over the counter 2V cents bid and 2 cents asked. NICHOLS Assay and Chemist el nt 909 Continental Bank Bldg. EL 160 South West Temple Phone EL exploration drift being driven by Polaris easterly from Its Silver Summit mine entered the Rainbow property controlled by Coeur dAlene Mines and cut a promising vein structure. There were rumors that two feet of ore had been found but this could not three-compartme- DORSEY HAGER CONSULTING GEOLOGIST COEUR DALENE MINES, for years a trading favorite, scored good gains on buying orders from the Coeur dAlenes. The below-sea-lev- eb confirmed. LUCKY FRIDAY is starting to move an 8000-to- n ore stockpile through American Smelting & Refinings Morning mill at Mullan. The Golconda concentrator, which normally treats I.F. ore, is closed strikers. L. F. mine by Mine-Mil- l 0 tons a day, output now is versus slightly more than 100 tons a day in 1955. Hoist installation continues for the firms new shaft. AND 32 62 Season's Greetings H. J. VANDER VEER ASSOCIATES and 701 Judge Building Salt Lake City, Utah BUHEL PATTERN SHOP 455 West 7th South EL 29 Consulting Engineers - Mineral Patents - Public Land Problems 125-13- STATE on Wednesday. A total of 80,000 shares was sold in one day early this week, officials disclosed. The company is said to have Professional Directory the Chester area of the Silver Belt. Chieftain officials are hoping results of test drilling below the 3000 level will encourage Polaris to check the Chieftain area of the Chester vein below the 3000. . . Lake City stock exchange had cents advanced to a high of 8 notified its shareholders that Polaris has Interested In Uranium Activities? Mc<'t?. Following consummation of the proposed deals, Silver Standard management expects to obtain an income. The Texas oil wells have been producing for several years. The was gas well in California brought in last Fall. Negotiations have been completed with the Canepco Corporation, with prlnicpal offices in Morristown, N. JH to do the mining of the uranium properties. The Four Corners property consists of 40 acres in proximity to large ore producers. The Temple Mountain property comprising 120 acres, is also, said by management, to be strategically located. One of the properties is entirely blocked out, Silver Standard management said. The eastern corporation according to Silver Standard, is now conducting an inventory of the properties. Upon completion, they will start operations. It is reportedly an open pit uranium operation. Management said operations will continue on the companys Ophir property, as long as conditions appear favorable. A special stockholders meeting has been called for March 8 in the Newhouse Hotel for the purpose of approving agreements on the above properties and to vote on a proposal to increase capitalization from 2,500,000 to 5,000,000 shares of stock. A vote also will be taken on a resolution to make the stock nonassessable and to make the board of directors changeable as needed. Management announced that Walter L. Hanson, active in uranium mining operations for three years, has been appointed by the Directors of Silver Standard as President of the Company and a member of the Board. Silver Standard stock, which two weeks ago, was selling at 2 cents a share on the Salt MOBILE HOMES NEW - USED GLEN C. BILLS & SONS HU 51 1901 South Main Caldwoll, Bichaids and Sorensen: Engineers 508 Zion's Savings Bank Bldg. "50 Years Consulting Engineering Service to the Intermountain West" Salt Lake City, Utah e |