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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />Property: <br /> <br />Tower Construction Company plant, part of Section 11, <br />T6S, R69W (L5 and G8, 8A) <br /> <br />Lessor <br />Lessee <br /> <br />Cassell-Cummings <br />Tower <br /> <br />Size <br />Date Operations Began <br />Term <br />Royalty <br /> <br />50+ acres <br />1961 <br />Extended to 1971 <br />$0.10 base; $10,000 minimum payment. <br /> <br />Remarks: This pit was worked on and off through the years <br />whenever Lessee had a market in the area. A considerable <br />but unspecified amount of total material has been removed, <br />and at present operator is selling to the Chatfield project. <br />Reportedly, this property has been hampered by several ease- <br />ments which crisscross it, thus forcing the operator to treat <br />it almost as if it were several different properties. Operator <br />paid several years advance before mining and, reportedly, had <br />$50,000 to $70,000 invested. <br /> <br />Production (1969): 100,000 tons February to August (did not <br />operate in May and June during high water). Total <br />production averaged less than 100,000 tons annually. <br />Current production higher. <br /> <br />Type of Product: Concrete aggregates. Operator claims <br />squeegee stockpiles can be sold later after roads are <br />built around Chatfield. <br /> <br />Estimated Remaining Reserves (operator's estimate): <br />44 feet deep, 10-12 acres, west side of river <br />25 feet deep, 40~ acres, east side of river <br />Total: l,484~ acre feet @ 2,200 tons/ac.ft. = 3,264,800 tons <br />Gross Reserves; 2,000,000 tons salable reserves. <br /> <br />Prices: $1.65 to $2.85 per ton for washed aggregate. <br />$1.50~ per ton average all sales, with buyer paying <br />hauling costs. <br /> <br />-8G- <br />