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Show Gilsonite Co. To Sink 1000 Ft. Shaft At Bonanza American Gilsonite Co. is engaged en-gaged in sinking a 1,000 foot, four - compartment shaft on its Cowboy vein near Bonanza, Uintah Uin-tah County, E. F. Goodner, president, presi-dent, said Tuesday. It is anticipated the shaft will be completed in early spring. It is part of a 13 million dollar pro- gram which will result in the brittle hydro-carbon being moved via pipeline to Fruita, Colo, for processing into high-test gasoline and matallurgical grade coke. Mr. Goodner said AGC, a joint affiliate of Standard Oil Co. (California) (Cal-ifornia) and Barber Oil Corp., was straightening present shaft on the Bonanza vein. 1 The Cowboy vein is the largest single gilsonite deposit in the world. It now accounts for about 25 per cent of American Gilsonite Co,'s production. When completed, the shaft now being sunk will be the main producing element in the new multimillion dollar expansion program. |