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Show Page Two Kerch 30. 19S6 The Western Mineral Survey. Salt Lake City. Utah WESTERN MINERAL Name Change.. Soon Radorock Forms Fed'l. Universal Okehs AEC Offer As Subsidiary Co. Universal Uranium and Milling Corp. Wednesday signed a one year contract with the Atomic Energy Commission for a concentrates purchase program at Universals nearly completed mill located 40 miles west of Moab, Utah. Approval of a share for share merger between Universal and Little Star Uranium, Casper, Wyo, was also verified today by Elmer K. Aagaard, Universal president. According to President Aagaard, Little Star is headed by A-o- re Big Bend Awaits A. Lloyd Powers, Casper. company has more than half-millio- n dollars in their treasury, part of which, Aagaard reports, will be used to complete the ore mill. company in the Surviving merger will be Little Star. Final approval will come in April at an annual stockholders meeting of Little Star. The Universal mill is nearing completion, Aagaard said, and should be in operation within two months. Universal was the first to announce a policy of on high lime ores. This recame before the AEC cut the port lime penalties on the Monticello and Moab mills. Following completion of the merger Little Star will be the first company of its size to own a milling plant on the Plateau. An extensive program is planned by Little Star and Universal officers to make the company one of the outstanding .producers in : ' the area. Properties included in the Universal acquisition include 25 Shootering claims in the Henry Mountains. Aagaard reports ore on the claims in this area have chemically assayed at from .30 to nine per centuranium oxide. Big Bend Uranium Co. will not start development on properties in the Nelson District of British Columbia, a joint venture with Indian Queen Consolidated Mining Co., until the company geologist has surveyed the property. In a report issued by Indian Queen, it is estimated that properties will be in production within 60 to 90 days. Big Bend will furnish equipment and capital for the preliminary work, the report said. The Rio Tente properties Indian Queen reports, has a vein of three to six per cent copper ore exposed for a distance of 40 feet and is approximately 11 feet thick. The report states the property is favorable to open pit no-penal- ty One of the most productive claims is House Rock Valley in northeast Arizona, he said. About 200,000 tons of ore has been blocked out for an open pit operation. Universal, according to has ore stockpiled in Indian Queen also holds options Aagaard, Mineral Canyon for immediate on six other groups of mining claims including 900 acres of processing as soon as the mill is completed. ground in the area. mining. Boggs, Sun Heads Check Land Henry G. Metos, president of Sun Uranium Co. and P. S. president of Baggs Uranium, will visit tungsten properties near Groome, Utah this week. According to Marthakis a crew of 12 men is now working the tungsten property. The original Mar-thaki- s, three foot vein of ore has creased to six feet and is widening, he said. incon-sisten- ly The new issue is expected to start trading in markets April 20th. There will be shares outstanding in 5,637,493 Radorock, the same as Federals presently outstanding shares. 0 Federal will also transfer in cash to the new company, which will assume an outstanding loan of 8300,000 due the Republic National Bank of Dallas. In announcing the formation of the new subsidiary, W. D. Nebe-keJr., president of Federal, said the action would have several advantages to Federal shareholders. One advantage, he said, would be to make possible payment of dividends sooner than otherwise could be done. He indicated dividend payments probably would be considered by Radorock directors early in 1957. Federal officials said Federal and Radorock would have complementary functions. Principally, Radorock will seek to acquire major proven uranium property. Federal mainly will use its capital and management to bring into profitable operation promising claims that have advanced beyond the early prospecting stage. Federal stockholders will be mailed their shares in the new company on April 25. Shareholders holding stock certificates not registered in their names were advised by Federal to send them for transfer to the Trust Department of Walker Bank & Trust Company, Salt Lake City, Utah. Details of the distribution of stock will be sent in a special announcement to all Federal stockholders early next over-the-count- er $25,-00- r, Interested In Uranium Wko Jfalf with grade and quantity to be determined by further drilling. The Radon mine is estimated to have ore reserves valued at t? . . . MINERAL SURVEY Right now the circulation of the WESTERN 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. more than $20,000,000. Both Hot Rock and Radon groups of claims, totaling 46 claims and covering more than 800 acres, are operated for Federal by Hecla Mining Company a contract agreement. Hecla will receive 25 per cent of profits from Radon and 50 per under SUBSCRIBE NOW! I year $3.00 2 years $5.00 Circulation Departments 421 Church SL - P. 0. Box 2608 Salt Lake City, Utah NAME .. ADDRESS ! cent of profits from Hot Rocks. All profits are subject to royalties, of which Radorock will own half of the 15 per cent outstanding against the Radon and a fourth of the 10 per cent against the Hot Rock. Melvin D. Reukhaus of Albuquerque, New Mexico, is president of the new company. Lester S. Harrison of Kellogg, Idaho, is n vice president and C. Allen secretary-tof Salt Lake City is reasurer. They will also serve as the initial Board of Directors. Later two other directors ESg-gre- CITY Remittance STATE . Bill me later are expected to be appointed. Radorock will share offices with Federal at 248 South Main St., Salt Lake City. ' All three Radorock officers ere members of the Federal Board. Mr. Rueckhaus said the company would operate with a minimum of overhead and administrative expenditures. After formation of the new company, Federal still will have more than 40,000 acres of holdings, including five producing properties and several others on which extensive exploration work is being done as a result of promising indications. Mr. Nebeker said Federal will have more than $175,000 in cash assets after the formation of the new company, and that by May 31 it expects to receive an additional $3,350,000 from sale of its interest in the 431 . CIRCULATIOI Chord Stmt Phone XX advertising XX Bos 2608 Belt 49 Like City. Utah Entered m eeeond olaaa Blotter at Belt Lake City, Utah, under Act of Xarch 3, 1179. Subscription re tea: $1:00 lor one year. 13.00 for two yean; Fleoee mention Weatem Xlnaral Surrey when wrltins to advertisers. Adver-tuinrotee on appUeetton. HABBT B. XXEXJCR SAIL FELXCH y Publisher Xdltor All aewa appearing In the Western Mineral Survey is obtained from source believed to be reliable but no responsibility la assumed for accuracy of statementa. Reproduction of any material from this publication must have written permission from the publisher. REPUBLIC . . . (Continued from page 1) claims, totalling 30, lie south and west of Blanding, White Canyon-ReCanyon Mining district, San Juan county Utah. These claims were recently acquired by Repub lie from Bo jo Uranium Co. The company also has 15 claims of claims. These in the Thor group, south and east group claims are optioned to Moore and of Kingman, Mohave county, Schley of New York. Ariz.; 97 claims in the Taylor Federal was formed on April Canyon group, 30 miles south and 28, 1955 by merger of eleven ura- west of Moab; 180 claims in the nium companies. Montezuma Canyon - Monument Canyon group, 35 miles south and east of Monticello, San Juan one-thir- d d Daniel-Ruddoc- k CMR Appoints Mgr. Combined county. Officers Metals Reduction Co. this week promoted Paul Gemmill to position as general manager of the companys Nevada and Utah operations. Gemmill, a resident of Pioche, Nev., has served with CMR since 1930, according to E. H. Snyder, Salt Lake City, president. Gemmill was plant manager at Pioche for CMR from 1954 and has served as general superintendent of mines for Nevada CMR since 1952. A graduate of the .McKay School of Mines, University of Nevada, Gemmill, started to work for CMR in 1930 as a geologist and engineer. He has also served with Prince Consolidated Mining Rocks Co., and Bristol Silver Mines Co. i Activities? mCWS Federal, in turn, plans to distribute to its shareholders half The property is located 85 miles northeast of Salt Lake City. Sun stock is now listed at 16 week. cents, 18 asked. Baggs stock reThe Radon and Hot asked. mains at cent, claims, which will he transferred to the new company, are located in Utahs Big Indian District, 40 miles southeast of Moab, Utah. A substantial mining operation is being carried out on Radon, with ore now being shipped at a rate of more than 100 tons a day. The Hot Rocks claims are adjoining the Radon claims, and recent drilling exploration has indicated commercial ore reserves, iibicribe ) Federal Uranium Corp. today announced formation of a new subsidiary company known as Radorock Resources, Inc. The new company will receive all of Federals interests in the Radon mine and claims and Hot Rock claims, in exchange for all of the outstanding shares of the new company. This transaction will take place on March 31. of the Radorock shares. Federal stockholders will receive one-hal- f share of Radorock for each share owned in Federal. The distribution will be made April 25th to Federal stockholders of record April 20th. CSSSfcU FRIII LORRAINB The I Canada Survey SURVEY of Republic include President Clayton; Joseph R. Smith, vice president and and director, all of Salt Lake City. Management of Republic includes: Adam M. Duncan, general counsel; Dr. Bronson Strlngham, geological consulton on Taylor direc-tary-treasu- rer Canyon; Don E. Bogle, superin- of operation on Jo Dandy; Courtney H. Brewer, superintendent of operations on Thor, and James Menlove, mine superintendent, Bojo and Bonnie tendent Lee Mines. Administrative offices of the company are at 223 Phillips Petroleum Building, Salt Lake City. Officers of Rocket are President Duncan, of Salt Lake City, Darrell Thornton and Robert Clokey, Boise, Idaho. NOTICE TO STOCKHOLDERS I Bleak Uranium Co., Inc. The Board of Directors is happy to announce that the stock issue of Bleak U r a n i u m Co., Inc., was closed on Saturday, March 24, 1956. orders indicated prior to that time will be honored. All All persons holding indications are urged to get in touch with their local brokers in order to complete their transactions at the earliest possible time. Thank you for your cooperation. SCharles M. Bleak President |