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Show Molybdenum Ore Attracts Capital From Out of St ate Another mining deal which gives promise of being a big thing for Milford and vicinity was consummated con-summated the first of the week when J. Weldon Wilson, prominent promi-nent Las Vegas mining man, with whom are associated Ed Wagoner and Arthur Jones, took a 90-day option on the OK mine, now owned by Theodore Kronholm and Ralph Myers. This mine is located in the Beaver Bea-ver Lake district, a few. miles northwest of Milford, and is one of the properties operated at one time by the old Majestic mining interests. While this mine set something of a record about 30 years ago by shipping a trainload of 40 per cent copper, it has not been worked much since that time except by leasors and then only on a small scale and at no time was there any attention paid to the ore which is now attracting so much attention and which other big interests have been bidding for. Molybdenum is the comparatively compara-tively new ore which has brought this property to the attention of some of the most able geolegists and mining men of the west, samples of the local ore deposit having indicated that it is the nearest pure deposit that is known at present. It is understood to be a comparative rare mineral and is used as an alloy to give tensile strength to steel. With the development of the airplane industry, where great strength is desired with as little weight as possible, and with the war scare in Europe and Africa, there is a greatly increased demand for this maaterial and the development of inferior deposits in Colorado and elsewhere are being pushed with feverish haste. Development of the local property pro-perty will depend on further tests, but it is the opinion of many local people and others who have investigated in-vestigated the property that big things may be expected here within a very short time. |