Show joint venture by moab uranium co C 0 anc and sovereign nov 10 uranium co and sovereign uranium gas oil co have begun joint venture development of 32 claims in mineral canyon near the green river west of moab officials of the two corn com banies announced today claude M hickman board chair man and executive vice president of moab uranium said that company has sold sovereign a 50 per cent undivided interest in the group the two firms will share operating costs and profits other terms were not disclosed the mineral canyon venture marks sovereign sovereigns s entrance in southeast era ern utah uranium activity the corn com pany has other properties in nev ada california new mexico and utah sovereign n is headed by dr alien allen bronston of fort worth texas with C M wood of new york city cit as vice president equipment already has been amov ed to the mineral canyon claims mr hickman said and work has started on a new foot drift to follow a previously located vein in the mossback formation the dr ift will be in ore from the start mr hickman said and immediate shipments are planned over tons of commercial ore was shipped during previous devel work records show and company officials expect to find ore of much higher grade as the drift deepens about 50 50 tons now are sto the claims are within three miles of a new null mill being completed by universal uranium corp and moab uranium sovereign ore will be pro cassed there as soon as the plant is opened |