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Show KEEP POSTED Oil UKANIUX - ' I -- 1 Jor tei etf MeJt Significance in The Oil and Mining WctlcT The Western Mineial Survey, Salt Lake City, Utah Vel. 27; No. 20 .July Late Report prop- A geophysical crew is conduct- ing magnometer work on properties of New Park Mining Co. which adjoin the Mayflower mine near Heber, Utah. Cliffs Uranium Co. Is completing - negotiations with Kearns County Land Co. for the sale of properties amounting to more than $3 million. DAails are not yet complete. Properties are located in the Circle. Cliffs urea Circle Standard Gil. Readies Mill i At Myton At a special stockholders meeting recently the company voted to revise (their articles of incorporation to change par value of each share of stock to 10 cents. Limit of the capitol stock, Tedesco said, will be $400,000. Under the new financing plan the company will return a mini mum of $200,000 to the company treasury. Tedesco reports that a brochure is now being compiled with com plete facts and details on the Myton operation. The company purchased the Old Raven mine more than nine months ago. President of Standard Gilsonite is R. J. Pinder. Offices are located at 212 State Exchange Building, Salt Lake City. 13, 1956 Wyo. uranium property to Continental Uranium, Inc. for $3,225,-00- 0 cash and stock payments staggered over a period. This report came through Robert Pruess, general manager and director of Continental Wednessix-ye- ar day. Down payment was an undisclosed amount of cash and stock with $250,000 and additional stock to be paid Gaddis within four months. MARY ANN TUCKER MINE is keeping Zuma Uranium and Oil Co. busy in the Death Canyon area while Bear Creek Mining is surveying their East Tintic resources. The Mary Ann was formerly worked by Bar X Mining, before Bar X and Zuma Uranium merged this year. 350,000, 3 Year Zuma Signs Deal Continental, with general offices in Chicago and a Grand Junction field office, presently operates the Continental No. 1 mine in the Big Indian district. It is now getting Into produc-ti-n at its Rattlesnake Mine, a luge open pit operation near Utah. Continental expects ;o take 4000 to 5000 tons a month ::rom the mine starting within the next 90 days. La-Sa- l, With Bear Creek In East Tintic Area Yellow Cat Zuma Uranium and Oil Corp. feet high is now being worked. Tedesco 'expresses has entered an agreement with optimism Bear Creek Mining on properties that two other good leads of ore n the East Tintic District. Bear Hreek has a $350,000. option to buy . within three years and has agreed to spend development monies of $100,000. New Mexico Bureau This announcement Thursday is believed to be the What was made by Feno Tedesco, pres-deflow of gas of natural largest of Zuma. the. in San Juan Basin well any Bear Creek, the Domestic Ex- has been reported, a gauge of ploration Subsidiary of Kenne-cot- t 26,486,00 cubic feet per day in Copper Corp., Is planning La Plata County, Colo. The well is the Ted M. White an 8 12 million dollar program No. 1 Spatter in Section n the East Tintic District. drilled on a lease held by Ted The company also reports an M. White and Associates of Albuactive program on all company querque, N.M. White said the flow was gauged properties. According to Tedesco, the Mary from the Mesa Verde at 4987 feet. Ann Tucker lead, zinc and silver He said that there have been mine in the Death Canyon area much larger potential flows in the s now being mined. A face of basin but only after fracturing good ore 13 feet wide and seven or treating. Ted White Well Has High Flow . nt 31-33n-- 9, Standard Gilsonite Co. will finish the construction of their gilsonite plant at Myton, Utah within four or five days according to Fred Tedesco, vice president and general manager. Tedesco said the plant will be in operation by August 1. $ Standard Gilsonites mining operation, being conducted at the Old Raven mine near Myton will produce approximately 200 tons daily. The new mill which handles sacking, processing and washing of the ore, will handle 100 tons basis, Teddaily on an eight-hou- r esco said.' t: Gaddis Mining Co. has made a deal to sell their Crooks Gap, - ident. Both are uranium erties, he said; r . Laid One maxi was killed and two were injured Wednesday when two explosions ripped through the Vitro Uranium Corp. chemical plant in Salt Lake City. George Asmussen, 58, Salt Lake City died of burns on 70 per cent of his body. Injured were Ernest Webster, 49 and Robert Herndon, 20, both- of Salt Lake City. Exact cause of the mishap is unknown, according to W. B. Hall, general manager at Vitro Uranium, a division of Vitro Corporation of America. La Fortuna Uranium Mines, Inc., Salt Lake City, has been awarded the Yellow Canary claim in Wayne county, near Fruita, Utah and is now asking the government for the Yeliow Joe claim adjoining. This report came today from O. H. Matthews, pres- t: Park-Kono-ld Park Konold Mining have been opened and are now being, explored. In the same proximate location Zuma is preparing to mine at the Esther Mine after minor repairs are completed. Zuma has properties in White Canyon, Utah on which Rare Metals Corporation of America geologists are examining potential. According to Tedesco, Zuma is now attempting to make an agreement with Rare Metals on a joint operation plan. Yellow Cat Uranium Co. is investigating the possibilities of high grade chrome property in Northern California, Walker K. Dastrup, secretary-treasure- r said in Salt Lake today. Dastrup returned Wednesday after a second trip to examine the properties. Geologists are now completing a report for the company he said. No details have been released Diamond drilling is underway on Red Canyon properties, but is to date, but Dastrup expects to have a conclusive report in the Inconclusive to date, he said. near future. Concluding his report, Mr. The company received news Tedesco said Zuma is negotiating from their Crooks Gap property for a reliable lessor to work silver this Week. Dastrup reports that properties in Spring Creek for a property adjoining Yellow Cat 12 month period. Details of this claims in Sections 17 and 22 were venture. will be announced in the sold for $3 million to Continear future. nental of Denver. The property was sold by Gaddis interests from gearing their program for immediate production in the recently completed Elaine Tunnel at their Fviye Bears copper properties in Plumas county, Calif. ' Fraser Buck, secretary of Park Konold, made this report upon receipt of a report from M. C. Meeves, U. S. Bureau of Mines geologist. The estimate of roughly $6,000,000 gross available made on the previous report in April, 1955 is now fully established, Meeves said. He adds his belief that this estimate is low and should be increased approximately 25 per cent, or a gross value of $7,500,000. Meeves investigation revealed that an ore body does exist in the old drift. This deposit shows both sulphide and oxide copper minerals and is very marked, Meeves said. lie said the ore body may be mined easily by either of two methods. Details were not released today." The report notes that the ore body is in the breccia zone and considerable caving has occurred. Some timbering willxhave to be done, Meeves adds. The ore itself is indicated as heaivy rock. Previous samples taken from the drift ran 2.75 per cent Cu. These samples, Meeves said, , . Sees $7 Million In Copper Co., Salt Lake City, is Scans Cal. Chrome Grand Junction. Yellow Cat is currently conducting a drilling program to develop and block out potential ore. Reof the program are due in did not come from the ore body. Indications are, sults two weeks, Dastrup reports. More he notes, that the percentage of copper is higher than 7,000 feet of drilling has' been in the ore body than the assays show. completed. On the basis of his examination, Meeves, a Properties include the Frances Denver geologist, made the following recoxnmen-dation- s group of claims in Sec. 17, T 28, to Park Konold: R 92 and the Rogers group Sec. 1. The present break through to the 11th 22, T 28, R 92. west crosscut be enlarged to allow for an ore shoot and runway. 2. The proper slope be established in the 11th west crosscut to allow for drainage and ore haulage. This will eliminate the present water New Mexico Bureau problem of the mine. 3. Track be laid in the 11th west crosscut Two new mica mining operaand the Five Bears Drift be cleaned out and tions have been registered with-th- e track laid in the old drift. New Mexico Mine Inspector 4. Clean out the 'area of the winze and stope in. Albuquerque. and establish the exact position of the ore body in The Columbium Mill and Minthe area with particular attention to the per- ing Co. Inc. of La Madiera has centage and onnage of copper available for ship reopened the Francis No. 2 Mine ment. Rio Arriba in Section 5. Start production in the area of the winze County. Mining will be primarily and mine which ever way the richest ore lies. for mica with Columbite secon6. Either establish a stock pile or ship the dary. mined ore to the nearest smelter. It is suggested Phillip Fidel of Santa Fe has that the first production be shipped direct to started a mica mine in Section Rio Arriba County, establish a fund for further development and pos near Cordova. a date. at a mill establish later sibly . Mica Hunt Widens 25-26n-- |