OCR

Exploration and Mineral Development By 1958 Utah had intensified its search for sources of mineral raw materials for basic industry and the program met with considerable success. During the year the Lucky Mc property was brought into production and iron reserves at Cedar City, Utah, were expanded. Exploration efforts were directed toward the development of the Navajo New Mexico Coal field where large coal reserves had been drilled and evaluated for mining. The Shirley Basin uranium field in Wyoming was developed at a pace consistent with Atomic Energy Commission policy. Other exploration activities included the location of raw materials for the steel industry. Because mining revenue is dependent upon assets which are constantly being depleted, exploration and development of new mining properties will continue. Lucky Mc Uranium Corporation Utah Construction Company owned a 60% interest in Lucky Mc Uranium Corporation which has extensive uranium ore reserves in on of the most important uranium producing areas in the country, the Gas Hills District of Wyoming. During 1956 through 1958 Utah, through wholly-owned subsidiary companies, explored the Lucky Mc properties and, on behalf of the Lucky Mc Uranium Corporation, developed a sufficient tonnage of ore to justify the construction of a processing mill, negotiated a concentrate sales contract with the U. S. Atomic Energy Commission, secured financing for the mill and accessory facilities, designed and constructed the mill, camp and mine plant, and then operated the mine and mill. The year 1958 was of great significance in the short history of Lucky Mc Uranium Corporation. Full scale open pit stripping and mining of the ore bodies was conducted throught the year. The mill commenced operation on February 28, 1958 and operated at greater than its rated capacity of 750 tons of ore from the first week forward. The Lucky Mc Mill was designed and constructed by Utah. After the start-up period beginning February 28, 1958, the mill averaged more than 1000 tons of ore per day fed to process. The function of the Lucky Mc mill is to obtain a product containing in excess of 75% uranium oxide