Show Develop Vast New Ore Reserves at Radon Mine SALT LAKE CITY Substantial new ore reserves have been developed at the Radon mine of Resources Inc the company was Inform informed d Friday This new Information as u to ore reserves In the Radon mine and other matters malters will necessitate a re evaluation of the holdings In connection with a proposed merger of Into an enlarged Hidden Splendor minIng mining min mm- ing company according to R. R W. W Newman president of Mr Neyman said other parties concerned In the proposed merger merger merger mer mer- ger have been advised of or increased ed ore reserves and agree that re negotiations In connection with the merger Will be Initiated Hecla Mining company operator operator operator oper oper- ator of Radon mine for has unofficially informed Rado Rado- rock that mine reserves are now I estimated at more than tons of uranium ore averaging per cent of or uranium oxide Mr Neyman said that began an independent survey surveyor of ore reserves several weeks ago This survey is proceeding and I will continue Mr Neyman said Hecla's most findings were based on underground development development development de de- de- de work The mine is currently currently currently cur cur- producing uranium ore at atan atan atan an average rate of more than I tons per month with ore sales of more than monthly I The Radon mine is located in Utah's Big DIg Indian district southeast southeast southeast south south- east of Moab Mining is being conducted from a foot deep 3 compartment shaft The ore is considered high grade and the mining operation being conducted conduct conduct- ed by Hecla for is one of the most efficient In the nation The ore body was wasI I proved by drilling before opera operation opera opera-I I lion tion began At that time In 1955 ore reserves of more than tons ton were indicated No addi additional addi I exploration work was conducted conducted con con- con I ducted of high drilling costs and the depth of the ore body Instead it was determined that the most desirable method of ascertaining ore reserves would be In underground development development development devel devel- work This recently reached reached reached reach reach- ed the Ule point where a survey could be made of reserves Hecla Hecla Hec Hec- la Ia began Its Investigation work and Independent survey survey sur sur- vey began shortly after is a per cent cent owned subsidiary of Federal Uranium Uranium Ura Ura- alum corporation |