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Show i.rfZAtt i ?Mf gl$camce iit The Oil and "Oor Veto otf Hjjlr V.L 27: Mo. I I ' Mineral Survey, Salt Lake City. Utah as ,? iyXi UliHihg World XA A Penny ' April a IBuy AumkosiaT Propr Million Greenfire, Republic Enter Dollar Deal On 1500 N. Mexico Acres Entry of the first penny stock uranium companies into die rich Ambrosia Lake, New Mexico area was recorded this week when two Utah firms anounced leasing of more than 1500 acres in McKinley County. A joint announcement by Greenfire; Uranium Corp. president, Ray W. Bradford, and officials of Republic Uranium Co., both Utah corporations, reveals each company bought 25 per cent undivided interest in the lease hold for approximately a qu u dollars. Exact pur- Vr-milli- on SPEEDING PROGRAM this tungsten mill into HO-to- venture is putting A daily production at Cherry Creek, tri-compa- n Nevada. Above is the main mill building. Silver Pick Drilling Utah Land James P. Harris, president of Silver Pick Uranium, Inc., announced this week that new drilling has started on his companys Buckskin claims near Blanding, Utah. The claims are located in Brushy Basin Wash in San Juan County. Harris reports that of the new holes drilled, five holes are in ore to date, with the ore assaying .30 per cent uranium and two percent vanadium. The new drilling is being done " f.v.y r-- ' on Buckskin claims Nos. The drilling program is being financed through a DMEA loan of $16,304, according ' to Harris. The drilling is currently in phase No. 1, holes being sunk on 250 foot centers. - From the hillside the Cherry Creek CHERRY CREEK SITE tungsten operations show the hoisting equipment house, blacksmith shop and tool shed. A two shift operation is planned. New Company Forms, Ups Nevada Tungsten Output Harris has high hopes for the properties, but remains uncertain as to the actual size of the ore body pending completion of the phase No. 2 drilling to be done on 50 foot centers. chase amount was undisclosed. Third company in the venture, a buying a one-ha- lf interest, is & Oil Copper Corp., a private New Mexico exploration company headed by a Texas drilling contractor. Stella Dysart, prominent Albuquerque businesswoman, signed the lease agreement in behalf of herself and a number in behalf of owners whom she represents. The papers were signed Thursday (April 5) in the Albuquerque , office of attorney for Mrs. Dysart. The leases cover the following properties: All of Sec. 19, Town ship 14 North, Range 9 West, NMBM; all of Sec. 9, T 14 N, R 9.W, NMBM, and four quarter, quarter sections in the north half of Sec. 17, T 14 N, R 9 W, NMBM. According to Adam M. Duncan, legal counsel for both Greenfire and Republic, the companies properties adjoin property of Pacific Uranium Co., located in Sec. 24. Section 19 touches on the west the large proven ore body of Pacific. Pacific was recently reported to have outlined $12,000,-00- 0 worth of ore. North of Sec. 19, Duncan said, in Sec. 18, the Anderson Bros. Drilling Co., Houston, Texas has reported impressive ore discoveries. During the past few weeks several large companies have moved into the Ambrosia Lake area. Uranium Co., Albuquerque, and Standard Uranium Corp., Moab and New York City, have a joint venture on adjoining En-trad- Sam-Dazzo- Silver Pick acquired the Brushy Basin properties from a Durango, Colo. firm. The original owners had drilled and blocked out ore First concentrates were produced this week at the Cherry Creek bodies on the Buckskin No. 1 to Harris, Mining and Milling Co. Tungsten mill in Nevada. Operations will claim and according out ore are blocked tons 3300 of be stepped up ti handle 80 tons daily, according to B. W. Van on this claim. properties near the new Voorhis, Jr., Gabbs, Nev. president and other officers. lands. Silver Pick also owns 116 or The newly formed company is a wholly owned subsidiary of Significant factor in this new Spanish Trail Uranium Co. Salt Lake City, Yaney Milling Co., and 78 overriding oil and gas royalSee FENNY, Page 3 Blovalle Uranium Corp. ties in West Texas. handle not mill will only According to company officials the President Harris estimates that ore from the Cherry Creek Mine, but will also provide custom mill- the company will derive approxiing facilities for independent mines in eastern Nevada and western mately $1500 per month income Vitro To Buy Utah. from these royalties when all of At present the tungsten mill operations are being supervised the wells are completed. All of Spokane Co. by the Yaney Milling Co. The mining operation is directed by Blo- these royalties are through the valle Uranium. U-O-re smaller, independent oil comYaney has operated a tungsten mill at Gabbs, Nev., near the panies. California border, the report notes, and is providing technical knowVitro Uranium Corp., is comSilver Pick employs S. B. how to the Cherry Creek operations. as conpleting negotiations to buy ore Blovalle is headed by veteran western mining operator Earl M. Shaeffer, Midland, Texas, from the Smith lease operated sulting geologist. Cooper. by Dawn Uranium and Oil Officers and directors of the newly formed Cherry Creek firm company in the Mount Spoinclude: President Van Voorhis, Gabbs, Nev.; Earl M. Cooper and kane district, northern SpoF. A. Mathie, vice president and directors both of Salt Lake City; Increase kane county. January Ralph W. Adams, Gabbs, treasurer and director; Edward H. Eakland, .The property is owned by Record consumption made for Jr., chief geologist and director, Salt Lake City and Paul Judd, Spothe Target Uranium Co., acdirector. steel record kane, Wash., production during cording to C. R. Echlin, of Dawn. January, 1956 showing a 3 per ary-treasurer cent increase over December, acare being workNegotiations Delhi-Tayl- or ed out to become effective cording to the Bureau of Mines. The use of scrap and pig iron in upon completion of an initial Delhi-Taylsteel furnaces increased 4 per 200 ton shipping contract with Oil Corp. is near- D. Soltes, manager of Delhi-Tathe AEC, Echlin said. R. B. ing the end of test drilling for tors potash program. Core recov- cent and three per cent, each esof use for new comMile a are Seven the in on eries tested the Coleman represents Vitro in high tablishing being potash deposits comcommodities any Tex. these during anticline near Moab, Utah, the transaction. panys laboratory in Dallas, furnaces. No official announcement of month in Dawn now has about 1000 pany officials said this week. of tons stockpiled on the propscrap during the results of the test program will Consumption ' and tons erty, Echlin said. In Moab to direct the final be released until the Delhi- Taylor January was 5,200,964 as used 5,557,220. iron this month. stockholders Elton Dr. test is of pig meeting stages drilling Col-U-M- . ex Green-fire-Republ- ic - secret- Nears Potash Test End or y steel-makin- g Holly Mine Ships Ore In McKinley New Mexico Bureau Holly Uranium Co. has started production at a new uranium mine in McKinley County, Nil, the Beacon Hill Mine adjoining its Mesa Top Mine. First shipments of ore were made during the past week, A. H. McCrea, nolly president, said. Holly also is still operating its Flat Top Mesa Mine in the same area but has leased its Lucky Don in Socorro . County to the Three Bears Mining Co. on a royalty arrangement. Holly now is receiving only about 30 per cent of its revenue from uranium and is considering a change of name to Holly Minerals, McCrae commented. The company now is operating a mercury mine in Idaho, an asbestos mine in Arizona and a copper mine in Mexico. All the properties have been acquired since last September. non-uraniu- m Late Reports Mountain Mesa Uranium Corp. this week announced expenditures of $85,000 on the San Juan ore body of Cal Uranium, property which Mt. Mesa acquired on option in August from Floyd B. Odium and Hidden Splendor Mining Co. Annual Mt. Mesa stockholder meeting has been postponed until May 26, according to H. O. English, president. At that time he hopes negotiations will be completed with Odium interests. Meeting will be held in Casper, Wyo. English said 80,000 tons of new ore have been added to Cal Ura- nium proven reserves. Oil and Mining Co. elected directors for 1956 Tuesday in Salt Lake City, according to Oscar E. Johnson, secretary. New directors will meet Saturday to elect officers. Directors elected include: R. H. Barton, past president; Alonza Mackay, president; Boyd Rasmussen, Provo; Jay Garth Williams, Provo, Ray Ricks, Frank Eastman, Lehi and David S. Hopla, Spanish Fork. Barton, Mackay and Ricks are from Salt Lake City. See LATE REPORTS, Page 5 Majestic Mono-Kear-sag- e |