Show Standard Buys Stock Of Metal Company W. W R. R McCormick Moab president president president pres pres- ident Standard Uranium has announced announced an an- the purchase of 50 percent per percent percent cent of the assets of Marcy- Marcy Shenandoah for foran an ran undisclosed amount of cash land and an option for a n period of 36 months to purchase purchase purchase pur- pur chase the remaining 50 per cent Further he stated Assays In hand Indicate potential of some tons of rock averaging a ton in copper gold silver silver sliver sil sil- sli- sli ver and lead zinc len ZInc l-ZInc values At the same time Oscar A. A Glaeser nice president and general general gen gen- eral manager manager of of Western Operations Operations Opera Opera- tI-riS tI ro for United States Smelting Refining and an Mining lining company Mc at Salt Lake City and Mr Mc- Mc Conrick k j Jointly announced that United States States' Smelting Refining and lining company has leased its Sunnyside le zinc lead property in Colorado to Marcy- Marcy lo of Dur Dur- ango Colora Colorado lo According to Mr Glaeser the Sunnyside holdings had produced cd ed substantial tonnages of lea lead leai and ores prior to 1939 The United Unite l States State Smelting Smelting l Refining fin fin- ing anti anH an Mining Marcy company-Marcy lease is for 15 years with tight right to renew fora further term tenn of 25 years and requires Marcy- Marcy Shenandoah to extend the American American American Am Am- tunnel to the leased premises pre pre- and to make a connection with this tunnel to existing mine workings Mr McCormick BJ said d the American merican tunnel now feet long would be modernized extended an ran additional feet and a raise nise driven feet to connect with existing workings and feet of development work done alone to explore favorable horizons below known ore shoots Shenandoah Marcy I Shenandoah org organized organized edl to consolidate the various mining mining min min- i ing properties in the old Silverton Silverton Silver Silver- ton district has purchased the to tons daily capacity mill and the mine of the old Dives Mining corn com bony and leased certain other mining properties from the American American Am Am- Smelting and Refining company Consolidation o til cl these properties in the Silverton district district district dist dist- is a major step which may mean the opening re-opening of non fer metal mining in the historic hist oric San Juan county Colorado district Mr McCormick k said |