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By Harold A. Linke

The following article presents notes and data compiled and computed by the writer for use in the determination of: size and slope of mill launders, details of junction boxes and downspouts, and distribution of pulp. It also includes pulp formulas, volume of discharge through bushings, paths of discharging streams, banking of turns and curves. In the design of a concentrating mill, the draftsman usually considers launders to the extent of providing ample "head" for transmission of pulp from one department of the mill to another. The superintendent of construction aims to build his launders wide and deep, and on a slope steep enough to ensure positive flow. So launders are laid generally on too steep a slope, with the result that the repair gang works to maintain launder bottoms and sides against the erosive action of the conveyed pulp. To this end many kinds of liners have been devised: concrete, mastic, white iron, glass, rubber. True, the reduction of slope to the point where a pulp will flow with minimum wear, will minimize labor and expense; but when the desired slope is not predetermined, the millman hesitates to readjust his launder slopes by cut-and-try methods. To the end that the desired size and slope may be found readily, the writer has: (1) conducted experiments with pulps of different specific gravity, screen analysis and dilution; (2) gathered a few graphic data from standard reference works (such as Peele's Mining Engineer's Handbook and Taggart's Handbook of Ore Dressing); (3) computed several tables; and compiled results that have proved dependable for Utah Copper ore. It is quite possible that the following tables and graphs may not be applicable to all ores, but it is hoped that they may prove helpful, even in slight degree, in alleviating a portion of the trouble and migraine of some other millman. Launder Slopes The main object in the study of launder slopes is to provide grade steep enough to prevent "sanding" by a safe margin, and to avoid

Jan 1, 1943

By F. F. ESPIE

Giving the keynote address in the final session of a conference dealing with closely related topics has a disadvantage in that much of what can be said has been said. It also has an advantage, however, because it presents the speaker with the opportunity to integrate and analyse the material presented by the various speakers. I would like to look to the near future in Australia and the United States of America, to the risks, problem areas, and changes of a rapidly evolving post-industrial era-an era we are beginning to experience where industry no longer 'calls the tune'. We miners have been quick to point out and emphasize, that ours is a 'high-risk' industry in the world of business and commerce. Yet, clearly those who have survived, and been successful, have learned to anticipate and cope with risk and change. This ability has been a 'distinguishing feature of the industry's leaders who, in market studies and commodity selection, exploration and development, mine planning, metallurgical pro- cessing, and general administration and operation 1. identify areas-of risk or inevitable change, 2. analyse, test and quantify those factors of risk or change, and 3. design methods, systems, equipment to eliminate, moderate, or control or economically compensate for predicted risks or changes.

Jan 1, 1978

Meeting of May 22, 1914.-President Thayer. announced the appointment of the following Committee on Arrangements for the San Francisco meeting of 1915: Charles W. Merrill, Chairman; F. W. Bradley, Abbot A. Hanks, S. B. Christy, and H. C. Hoover. President Thayer announced the appointment of the following Committee on Organization for the Utah-Nevada Local Section: R. C. Gemmell, Chairman; C. D. Blood, Lafayette Hanchett, Ernest Gayford; Duncan MacVichie, and George W. Riter. The President of the Institute offered $100, to be known as the "President's Prize," to be used as prizes for the best papers submitted by members of the Affiliated Student Societies, to be divided as follows: First Prize, $50; Second Prize, $30; Third Prize, $20. A committee, consisting of J. F. Kemp, Chairman; W. L. Saunders, and T. T. Read, was appointed to report on the conditions to govern the award. The President announced the appointment of the Committee on Mining and Milling Methods, the personnel of which is shown on a subsequent page of this Bulletin. The following were appointed on the Advisory Committee to the U. S. Bureau of Standards, to represent the manufacture of the various non-ferrous metals as indicated: Copper, F. L. Antisell; Nickel, David H. Browne; Lead, H. O. Hofman; Aluminum, J. W. Richards; Zinc, G. C. Stone. It was voted to hold a meeting of the Institute under the auspices of, the Iron and Steel Committee, the Committee on Petroleum and Gas, and the Committee on Coal and Coke, in Pittsburg, Pa., Oct. 8, 9, and. 10, 1914.

Jan 7, 1914

By Grover R. Castle

INTRODUCTION Banks are being asked to assume more and more of the project risk in connection with project financings and, as a result, they are seeking to become more sophisticated in the way that they approach these kinds of financings. For example, a large number of banks that are active with the mining companies have established mining groups which typically will include mining engineers, economists, and bankers, in order to specialize their service to the mining industry. These banks have geared up these special service staffs so that they will be better equipped in their lending activities to analyze, measure and evaluate the project risk. The hope is that a team of these specialists will be able to predict the potential success or failure of these new "green fields" mining ventures that the banks are asked to finance. This paper shall focus on this subject and try to determine just how successful these specialists can hope to become as they analyze these various projects that are brought to them for financing. The approach that shall be taken in this paper shall be to examine how successful the mining companies themselves have been in the past with this same problem. These mining companies should be the most sophisticated in their approach to the analysis of the potential for success of a new mine because they have had the most experience in evaluating these projects. After all, who knows more about developing a mine than the companies that have developed similar mines in the past? For the purposes of this paper, the writer has selected a sample of 18 mines that have been developed over the years and measured the actual performance of each of these sample ventures against the original projections. All of these cases have involved the development of large projects where the sponsors or partners in the venture are substantial and sophisticated companies and where the feasibility studies have been prepared by engineering firms that are considered very professional in the industry or alternatively where the feasibility has been done by a comparable in-house staff. The sample cases have been chosen from a period which starts in 1965 and continues through 1981 with the cases distributed over that period as indicated below: [ ] Fourteen of the projects are open pit mines, three are underground mines and one mine starts on the surface and gradually goes underground. Seven of the mines are in the the far east with the remaining three in either South or Central America. The following four specific questions were examined for each project:

Jan 1, 1985

By Henry M. Howe

COLUMBIA UNIVERSITY The Equilibrium Position of A 1.—Some of the most important data on this subject are collected in Table I. Definition of Ae 1.—-Just as we call A 1 of rising temperature Ac 1, and that of falling temperature Ar 1, so we may give the symbol Ae 1 to the equilibrium position of A 1. Preliminary Assumptions.—In deciding what weight to assign the various data, and indeed what data are to count, three assumptions should be made. These are : 1. The corollary from the phase rule, that the temperature of Ae 1 is constant and independent of the carbon content, though, of course, it may be changed by the presence of other elements. 2. That because neither in heating nor in cooling can the transformatioil begin before the temperature reaches Ae 1, though it may be delayed by lag till after the temperature has passed beyond Ae 1, therefore Ae 1 should be at or below the observed beginning of Ac 1 and at or above the observed beginning of Ar 1, and, a fortiori, it should be at or below the observed maximum of Ac 1, and at or above the observed maximum of Ar 1. It may be necessary to take these maxima into consideration in view of the experimental difficulty of detecting these beginnings. 3. Because of the extraordinary degree of lag in the immediate neighborhood of Ae 1, as proved by Brayshaw, little weight should be attached even to the most conclusive evidence that the transformation has not occurred on reaching, or even staying at, a given temperature, because that failure to occur may always be due to lag. Evidence that the transformation has occurred, or has even begun, at a given temperature deserves incomparably greater weight. In other words, the temperature may pass beyond Ae 1 without inducing the ' transformation, but the transformation cannot be induced except by

Jan 1, 1914

By Klaus M. Zeitler

INTRODUCTION One cannot discuss the subject of "Raising Capital in the 1990s" without having a crystal ball and a reliable fortune teller. This discusses "Raising Capital for the 1990sW, which is what Metal1 Mining Corporation did in 1987. We raised (3166 million in an IPO (initial public offering) that was originally planned for only some (375 million. Why did we raise this money? How did we do it, and why was this IPO so successful? The answer to the first question requires a description of the promoter and principal shareholder of Metal1 Mining Corporation, Metallgesellschaft AG. This West Germany company was founded over 100 years ago in Frankfurt as a trading house for non-ferrous metals. It has developed into one of the world's leading firms in the non-ferrous metals industry. The company's worldwide activities in all areas of that business include mining, smelting and refining, the trading of ore, base and precious metals, the production of semi-fabricated and finished metal products, and the provision of engineering, construction and transportation services. Metallgesellschaft AG has also diversified into many other areas, the most significant of which are manufacturing, the production of chemicals, the development and application of technical and chemical processes, the planning and construction of industrial plants, and activities associated with finance, insurance, shipping and freight forwarding, and the provision of barter and countertrade services. The company maintains a network of more than 100 offices around the world; it employs some 25,000 people in its worldwide activities. [Selected financial data, as of September 30, 1987: (MetaUgesellschafl AG) Working Capital DM 8%.6 million CDNS 672.8 million Long Term Debt DM 568.0 million CDNS 426.2 million Sales DM 14.9 billion CDNS 11.2 billion Net Income DM 87.7 million CDN$ 65.8 million Market Capitalization at April 27, 1987: (Metallgesellschafi AG) Outstanding Shares ~,6oo,o0o DM 1,875 million CDNS 1,407 million] For the fiscal year ended September 30, 1987, Metallgesellschaft AG had, on a consolidated basis, net sales of DM13.3 billion, net income of DM100 million and total assets of about DM7.0 billion. Metallgesellschaft AG established the American Metal Company, a predecessor of AMAX Inc. one of the largest ventures undertaken by Metallgesellschaft AG then was the acquisition, through the American Metal Company, of a majority share in the Mexican Penoles mine, a large lead and silver deposit. METALLGESELLSCHAFT AG Figure 1 depicts an overview of Metallgesellschaft AG before and at the time the initial public offering of Metall Mining Corporation's shares took place. It shows that mining was far from the centre of Metallgesellschaft's activities. Therefore, it could not expect to receive an extraordinary amount of board attention. Thus, mining investments not only had to compare well with other mining opportunities, but were in fierce competition with projects from other divisions. In addition, mining was sub-divided into two separate departments -- domestic and international. These two departments had different management styles and diverging interests which resulted in a minimum co-operation between them. The domestic mining department was primarily interested in the survival of the local mines. These mines were characterized by rising operating costs and declining ore grades. It took a special commitment and continued ingenuity to develop and adjust to local conditions, and modern mining and processing technology, in order to remain competitive, or at least survive within the international mining industry. Local management

Jan 1, 1990

Jan 1, 1886

By R. W., Ludt

THE use of froth flotation for the separation of minerals has become one of the most important of ore dressing processes. Its particular adaptability to the enrichment of low grade ores has made the process an important factor in the national economy. The methods have been extended to the recovery of a great number of minerals. Among the few minerals which have resisted efforts toward industrial flotation is chrysocolla, a hydrated partly colloidal copper silicate. Chrysocolla, being a product of natural oxidation, has been found to occur in small quantities with many ores which are recovered by flotation methods. In present practice, these small quantities of copper silicate pass off with the tailings and are lost. The advantages to be gained by a satisfactory process for the recovery of chrysocolla is apparent. Any application of principles which points a way toward the satisfactory industrial flotation process for copper silicate would be of advantage. This paper presents an attack on this problem.

Jan 1, 1949

By I. Fatt

A recently developed system for measuring electrical resistivity of liquids without use of electrodes offers some interesting possibilities in electric logging technology. The equipment as supplied by the manufacturer is satisfactory for continuous mud logging on a drilling rig or for measuring mud or filtrate resistivity in the laboratory. A simple modification of the commercially available instrument makes it suitable for measuring resistivity of core samples in the laboratory. The continuous measurement of mud resistivity on a drilling rig is a convenient means for detecting mixing of formation water with the drilling mud. Such information is useful to the geologist, the mud engineer and the logging engineer. However, continuous mud resistivity logging by conventional electrode-type resistivity cells is beset with difficulties. The mud, sand and rock chips abrade the electrodes, thereby changing the cell constant and eventually destroying the cell. Also, additives and crude oil in the mud may poison the electrodes by coating them with a nonconductive material. An electrode-type resistivity cell. therefore, may give erroneous readings under certain conditions. Electric logging companies circumvent the electrode poisoning problem by using a four-electrode resistivity cell for measurement of mud resistivity. In this cell, change in electrode area does not change the cell constant. However, the four-electrode cell is difficult to adapt for continuous reading and does not solve completely the problem of electrode abrasion by the sand and cuttings in the mud. The measurement of electric logging parameters on core samples in the laboratory encounters some of the same problems discussed in connection with mud logging. Ideally, the electrical resistivity of a core sample should be measured by placing platinum black electrodes in direct contact with the plane ends of a cylindrical or rectangular sample. Platinum black electrodes however, are much too fragile and easily abraded to be brought in contact with a rock sample. Also, oil or other constituents in the fluid contained in the sample will poison platinum black. In practice, gold-plated brass electrodes, in an AC bridge circuit operating at about 1,000 cps, are used for routine core analysis. For more precise work in research studies, a four-electrode scheme is used.',' Preparation of the samples for the four-electrode method is much too involved for routine core analysis. An apparatus for measuring resistivity of liquids without use of electrodes was described by Guthrie and Boys3 in 1879. They suspended a beaker, containing the electrolyte, by a torsion wire and rotated a set of permanent bar magnets around the vessel. The eddy currents induced in the electrolyte reacted against the rotating magnetic field to develop a torque, which was measured as a deflection of the torsion wire. In 1879 this method could not be made precise or convenient because of the lack of strong permanent magnets. The writer described a very greatly improved apparatus similar to that of Guthrie and Boys, but it was not suitable for continuous measurements or core samples.' Many electrodeless resistivity devices using radio frequency current are described in the literature.5, 6 These generally are suitable only for noting the end-point in a chemical titration. They do not measure resistivity, instead measuring a complex quantity which includes the dielectric constant and the magnetic permeability. The first description of the apparatus to be discussed in this paper was given by Relis.7 Improvements and modifications are described by Fielden,s Gupta and Hills,> and Eichholz and Bettens.10 DESCRIPTION OF APPARATUS The apparatus used in this study is based on the principle that the solution under measurement can form a loop coupling two transformer coils, as shown in Fig. 1. For a fixed AC voltage applied across Coil A, the voltage appearing across Coil B is a function of the resistance of the liquid-filled loop. The details of the voltage generating and measuring circuits are given in Refs. 7, 8, 9 and 10. A block diagram of the equipment is given in Fig. 7. Special features worth mentioning are the operating frequency of 18,000 cps and the automatic temperature compensation which results in the given resistivity readings being automatically correlated to 25°C. The liquid loop supplied by the manufacturer, shown in Figs. 1 and 2, was modified for use in core analysis (Fig. 3). The core sample under test is substituted for a section of the original loop. As shown in Fig. 3, the unit accepts only plastic-mounted cylindrical core specimens. A Hassler-type sleeve easily can be designed for the unit if unmounted cores are to be measured. EXPERIMENTAL PROCEDURE MUD LOGGING A simulated mud line was set up in the laboratory.

By LESTER H. WOOLSEY

IT IS doubtful whether anything new can be said upon this subject and, therefore, it is with considerable hesitation that l prepare this paper. On account of my recent connection with the Department of State as its law- officer, perhaps I will be pardoned if I discuss this subject briefly from the point of view of that branch of the Government. , I cannot, of course, speak for that department, since I have-no connection with it at-present, but it may be helpful if I set down certain* of the factors which in my opinion and from my experience have a bearing on this international problem. With oil-burning ships, motor vessels, motor vehicles, airplanes-all consuming, astonishing quantities of petroleum or petroleum products; with the United States having within its borders only 12 per cent. of the petroleum resources of the world, and consuming about 70 per cent. of the world's output; with the more enterprising nations wide awake to the necessity ; of obtaining and preserving as large a share as possible of the oil resources extant ; the 'problem is peculiarly and in a, very practical sense an international one.

Jan 1, 1921

By A. Weiss, W. A. Coster

The search for ore is characterized by a great variety of uncertainties, each of which can be resolved by obtaining information at a cost. Three exploration stages may be distinguished in which information can be obtained, based on inherently different cost structure: 1) the reconnaissance or scanning stage, 2) the examination or screening stage and 3) the project stage. This exploration sequence would roughly coincide with replies to questions as to: where, how, why and how much. As complete information in each stage is too costly to acquire, we must assess the probability that adequate information will be furnished by a limited amount of effort and attempt to maximize the expected value of ore to be found for a given exploration expenditure. Several problems are discussed relative to the mathematical formulation and possible computer procedures for determining the optimum allocation of a total exploration effort. Based on the available literature possible solutions to this problem are indicated. When scanning through published literature on mineral exploration, it seems at first that there is little room for substantial and systematic improvements in the efficiency with which the problem of discovery of new ore deposits is presently being handled by large organizations active in exploration. It appears equally difficult to offer something relevantly new which could generate a break-through in exploration thinking and cause a marked improvement in the ratio of successful undertakings to the total exploration projects started. On the other hand, a number of experts in recent years have urged that the problems in prospecting be analyzed in a more skillful and sophisticated manner than in the past. Their thesis is based mainly on the premise that the cost of finding mineral deposits will increase with increasing technical difficulties. In present large-scale exploration ventures, especially in those regions where outcrops and immediately visible geologic evidence are scarce, older methods of prospecting are increasingly being replaced by more indirect and systematic geophysical and geochemical methods with more emphasis on correct statistical design of exploration patterns. It is perhaps the oil industry which has made the greatest strides in developing statistically, well justified patterns in its search for oil; possibly because oil seepages, as indicators of the presence of oil, left off at an earlier point in time than did outcrops as indicators of base metals. Among the pioneers in the field of statistics and operations research, as applied to mineral exploration, the excellent works of Allais, Slichter, Koop-man, Mickey, de Guhnin, Krumbein, Griffith, Sichel, Krige, de Wijs, and Matheron may be mentioned. It should, however, be pointed out that three subjects of basic importance to the allocation of exploration efforts have so far received only scant attention in published literature, even by the aforementioned authors. In the first place, a more precise definition of the object of the search, i.e., a minimum-size orebody, seems to be outstanding. Secondly, a decision model is not a widely-discussed subject. Thirdly, no concentrated attempt so far seems to have been made to establish probabilities of the occurrence of economic deposits on a regional scale and to arrive at a slightly more accurate knowledge of the probability laws governing the deposition of ore. It is not the purpose of this paper to create new order in the complexity of uncertainties in which our decision processes in exploration necessarily have to be conducted. Rather, we intend to highlight some of the outstanding, hitherto unmapped territory, where diligent compilation and a utilization of present and historic data may statistically improve our chances of success. We hope that the contribution of this paper will lie in bringing allocation problems into better focus and in increasing the mineral industry's realization of the magnitude of the factors involved. THE MINIMUM-SIZE OREBODY The concept of target specifications for what constitute a minimum-size orebody in exploration is a rather variable one and depends to some extent on

Jan 1, 1963

By William P. Shinn

Jan 1, 1880

Arthur Yates, lecturer in the mining department of the Royal School of Mines, London, died at Blackpool, on Feb. 14, 1923, at the age of 47 years. My first acquaintance with him was made in 1902, when taking over the management of the Redjang Lebong gold mines in Sumatra, of which he was the responsible metallurgical officer. For that position he was well qualified by reason of his previous experience with the Rand Central Ore Reduction Co., in South Africa, and particularly by his early training with the Cassel Gold Extracting Co., owners of the MacArthur-Forrest patents, and the first commercial company formed to work the then recently discovered cyanide process; in this connection, Mr. Yates had the advantage of working under J. S. MacArthur himself. Our association in Sumatra was maintained for six years, when I left. Mr. Yates remained and was eventually promoted to the management of the neighboring Soelit mine. During those six years and in the close association inseparable from life in an isolated mining camp, the sterling qualities which made him so good a man were unmistakable: industry and interest in his work, patience with everybody, a quiet and unassuming demeanor. On the exhaustion of the mine to which he had been promoted, he returned to England in 1913. In 1914, the Mining Department of the Imperial College was fortunate in securing his services. Hardly, however, had he settled down when the war broke out and he spent some years in the Cleveland District promoting the efforts of the Government toward greater output. Returning to college in 1919, Mr. Yates met the full flood of Service students. The qualities which made him a man amongst men in the world made him a man among students in the college; a senior student if you like. But, unsuspected, a dread disease had fastened itself upon him, making itself felt for the first time during the summer course he was conducting in the South Wales coal field, in 1922. Against its relentless onset he opposed the bravest optimism, and when at last he realized that he was going under, and was in fact dying, his pronounced regret was that he was leaving the boys. In his death, at the age of forty-seven, staff and students in the Mining Department have experienced a great loss, that of a reliable friend, and their deepest sympathy goes out to the young widow and son in their irreparable loss. S. J. TRuBcott.

Jan 1, 1923

Arthur Yates, lecturer in the mining department of the Royal School of Mines, London, died at Blackpool, on Feb. 14, 1923, at the age of 47 years. My first acquaintance with him was made in 1902, when taking over the management of the Redjang Lebong gold mines in Sumatra, of which he was the responsible metallurgical officer. For that position he was well qualified by reason of his previous experience with the Rand Central Ore Reduction Co., in South Africa, and particularly by his early training with the Cassel Gold Extracting Co., owners of the MacArthur-Forrest patents, and the first commercial company formed to work the then recently discovered cyanide process; in this connection, Mr. Yates had the advantage of working under J. S. MacArthur himself. Our association in Sumatra was maintained for six years, when I left. Mr. Yates remained and was eventually promoted to the management of the neighboring Soelit mine. During those six years and in the close association inseparable from life in an isolated mining camp, the sterling qualities which made him so good a man were unmistakable: industry and interest in his work, patience with everybody, a quiet and unassuming demeanor. On the exhaustion of the mine to which he had been promoted, he returned to England in 1913. In 1914, the Mining Department of the Imperial College was fortunate in securing his services. Hardly, however, had he settled down when the war broke out and he spent some years in the Cleveland District promoting the efforts of the Government toward greater output. Returning to college in 1919, Mr. Yates met the full flood of Service students. The qualities which made him a man amongst men in the world made him a man among students in the college; a senior student if you like. But, unsuspected, a dread disease had fastened itself upon him, making itself felt for the first time during the summer course he was conducting in the South Wales coal field, in 1922. Against its relentless onset he opposed the bravest optimism, and when at last he realized that he was going under, and was in fact dying, his pronounced regret was that he was leaving the boys. In his death, at the age of forty-seven, staff and students in the Mining Department have experienced a great loss, that of a reliable friend, and their deepest sympathy goes out to the young widow and son in their irreparable loss. S. J. TRuBcott.

Jan 1, 1923

By Butler, P. B.

TRIPOLI is a rather unusual form of silica, which thus far has been found in commercially valuable quantities only in the neighborhood of Seneca, Mo., although there are numerous deposits of somewhat similar materials in several southern states. The latter have not, however, attained any position of real importance, due undoubtedly to definite structural limitations which have rendered them less suitable for the particular uses that have given tripoli its principal outlets. Raymond B. Ladoo, mineral technologist, says': "Since that time (1880-90) the term tripoli has with increasing definiteness been reserved for the Seneca material, and other siliceous materials of similar origin and physical properties."

Jan 1, 1928

By Kenneth R. Hancock

Iron oxides are unique in that they are the only significant colored mineral found in a natural state suitable for use as a pigment after it has been pulverized to pigmentary size. The current world production of iron oxide pig¬ments is estimated by the author to be between 450,000 and 550,000 tons based on 1969 data. The fact that highly colored natural deposits of iron ore are found throughout the world ac¬counts for its use in prehistoric man's artistic cave paintings. These early artists did not realize that they had established man's first paint test fence which now has some 20,000 years of exposure. In addition to abundance, constituting about 7 % of the earth's crust, iron oxides have the advantages of low cost, permanency, and are not toxic. Through the centuries, succeeding civilizations have utilized iron oxides as a major source for decoration and protection when coloring was desired. In the last century the chemical industry has improved on nature by developing a complete range of synthetic iron oxide pigments which surpass the pigments pro¬duced from natural iron ores in uniformity, color quality, and chemical purity. In the United States alone, the combined production of natural and synthetic iron oxides produced sales of over $28,000,000 in 1970 (Stipp, 1970). Nomenclature With the increasing importance of the syn¬thetic iron oxides it is necessary to make a distinction between the natural or mineral pig¬ments and the synthetic pigments. Natural pigments are those products which are derived from selected ores and should not be confused with iron ores mined for steel production. Iron ores that are mined for steel must be capable of being mined and reduced to iron on a com¬mercial basis. These ores are selected on the basis of iron content and processing economics. It is therefore unusual when iron ores for steel production are suitable for use as mineral pig¬ments. Natural pigment ore sources are se¬lected for their special physical-chemical prop¬erties and can command a premium price. Synthetic pigments, and in this instance iron oxides, are those pigments produced from basic chemicals. Through chemical synthesis pig¬mentary sized particles are produced as opposed to comminution, the major procedure common to all natural iron oxide pigments.

Jan 1, 1975

By Sherwin F. Kelly

MANY baffling problems of crustal geology-of warping and folding, elevation, subsidence, and great dislocations of the earth's surface-may now be on the verge of yielding to the science of geophysics. Electric, magnetic, gravitational, geothermal, and seismic methods are being turned to the gathering of geological evidence buried by deep layers of rock, or lying beneath the waters of the oceans. In this hope, B. L. Miller expresses the opinion that these geophysical studies will sup- ply useful data bearing-on some of the more theoretical problems of North American geology. Among these for example, is the explanation of how Appalachia disappeared. This ancient land mass is supposed to have foundered beneath the Atlantic Ocean after the close of the Paleozoic era and the question arises, was it warped or faulted downward? The geophysical data, though meagre, indicate that the surface of the dense, basal rocks, the probable remnant of ancient Appalachia now underlying the Continental Shelf, slopes downwards to a depth of some two miles below sea level at a distance of 140 mi. from shore: thus suggesting that the subsidence was the result of warping downward rather than abrupt faulting.

Jan 1, 1938

By S. A. Swensrud

NINETEEN Thirty-Six was the biggest year in volume in the history of the oil industry, and unquestionably the best since 1929 in respect to profits. The quota of new and difficult problems to face seemed a little smaller during 1936 than in most recent years, and a somewhat better balance existed between the different branches of the industry. 'Domestic consumption of gasoline in 1936, estimated at about 475 million barrels-the highest on record, was approximately 11 per cent above 1935, and 26 per cent above 1929. Demand for crude oil increased in about the same proportion: over 1935, and the average production, of about three million barrels daily,' constituted a new high level.

Jan 1, 1937

By L. B. Slichter

Prospecting is certainly the world's biggest and best gambling business. It is a game where the chips cost many thousands and where many millions, even billions, can be won. An attractive feature of this gamble is the fact that the players are free to rig the odds as favorably as possible. Only the limited bounty of nature, the restrictions of the laws of the land, the competition from other players, the limited sagacity of the player himself— only these, and other factors, restrict the possibilities for large winnings. Today probably about half the land surface of the earth remains to be searched for signs of ore visible at the surface. It is fortunate that so much land still remains for exploration by relatively economical methods. Looking to the future, it is a good guess that the costs of finding ore will increase in response to increasing technical difficulties. To continue to achieve profits from prospecting, it will become necessary to analyze the business more skillfully, in a more and more sophisticated manner. Whenever feasible, qualitative concepts must be replaced by their quantitative equivalents, improvements, and extensions. THE GAMBLE The fact that prospecting is a gambling business reminds us at once of the elementary rule known as the law of gambler's ruin. I hesitate to mention so simple a rule in this company of experts. This rule expresses the rather serious chance of going broke when the odds for success are small, merely by a normal run of bad luck regardless of the long-run expectations of gain. The only sure way of avoiding this special risk of gambler's ruin is to have enough capital, and the will, to continue the play many times and thus ride out the inevitable runs of bad luck. For example, if the probability of success is one in ten for each venture, there is a 35 pct chance that ten successive ventures will fail in a row. But if one has the capital to continue the play through a run of 100 failures, then the chance of gambler's ruin is only 5 in 100,000. Almost any management, I suppose, would be under terrific pressure to cease the play during a long run of bad luck. To continue to prospect under such circumstances requires great confidence in the premises, and a firm conviction in the long-term expectation of profit. There is evidence which I shall mention that in the future even the strongest companies may not have the necessary capital to prospect on the ideal scale. Joint ventures will be very desirable as a means for extending the available venture

Jan 1, 1961

By Richard E. Chism

SAN DIMAS, in the State of Durango, Mexico, on the frontier of the State of Sinaloa, is the centre of an extensive and rich mining region, which has been exploited for over a hundred years; and the patio process for working silver ores has there attained the highest perfection of which it is capable. Local modifications have been engrafted upon the underlying principles of the process, but, as a whole, the San Dimas practice so fully illustrates its typical capabilities, that I have undertaken to describe its workings in the hope of lightening, to some degree, the labors of my professional brethren who may have occasion to visit Mexico." As is tolerably well known, the patio process, like all other systems of free amalgamation, is not successful with ores containing more than a trace of zinc or lead, the presence of zincblende being especially obnoxious. Iron and copper in small quantities are not particularly disadvantageous. The process succeeds very well with all sulphide ores which do not contain much more than a trace of arsenic and antimony, provided the tailings are concentrated, although, of course, it is best adapted for free milling ores. For suitable silver ores that contain small amounts of free gold the process is still a good one, but where the gold is combined with sulphurets, a considerable and even an excessive loss is inevitable. Hitherto the Mexicans have submitted to this loss, but, since the introduction of American mills, they are gradually abandoning the patio process in favor of the other. The San Dimas ores have a gangue of quartz and feldspar. They are composed principally of silver sulphides, with some chloride and

Jan 1, 1883