Word: ores
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Dates: during 1950-1959
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Lawyers in the Bush. Long before Joe Hirshhorn got interested in the Blind River area, geologists knew that there was radioactivity there. But most thought it came from thorium, because the outcrops yielded little uranium ore. Geologist Franc R. Joubin, who was working as a private consultant in the area, thought differently; he believed that oxidation of the outcrops had leached away their uranium content, but that underneath there lay a treasure trove of uranium ore. Joubin told Joe Hirshhorn his theory, and Hirshhorn agreed, with associates, to put up $30,000 in 1953 to take core samples...
...cost-plus contract. Unlike most other producing uranium properties in Canada, which are so remote that supplies must be flown in at tremendous cost, the Algom property has access to good transportation. Miners guess it will cost Hirshhorn less than $10 a ton to get the Algom ore out, and the government is reported to be paying between $18 and $20 a ton for it. Estimated profit to Algom under the contract: $100 million. And that, says Hirshhorn, is only the beginning: "We're thinking in terms of 50 or 60 years. Our indicated reserves are worth between...
...granite in the area has been found to contain ten times the ordinary percentage of uranium, he added. Dartmouth is hoping to find a vein of the ore within the tons of granite beneath the land...
...onetime farmer. Pioneers of the Grand Junction uranium rush, the Thornburg brothers collected promising claims on the Colorado plateau in 1950, built them into their Uranium Enterprises. Inc. On their 116 claims in the Blue Rock area, they believe they have at least 25,000 tons of commercial ore, hope to prove out 150,000 tons...
...biggest acreage. His Federal Uranium Corp. will combine his Federal Uranium Co. with six companies (Kentucky-Utah Mining Co., Western States Uranium Co., Interstate Uranium Co., Utida Uranium Co., Howell Mining Co. and Uranium Inc.) holding total claims with an estimated $6,000,000 to $7,000,000 in ore reserves. Much of the new buyers' rush is for Federal or one of the companies that it will gobble up, and Federal stock has jumped from $3.25 to $5.25 in a month...