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Show AGREEMENT SETS EXPLORATION AT CACTUS MINE Tintic Mineral Resounrces and Toledo Mines Co. last week released information that they had reached agreement with American Metal Climax, Inc., (Amax) New York City, whereby where-by Amax would carry out an exploration and development program o.n the Cactus Mine and surrounding areas in the San Francisco Mining District west of Milford. The agreement was announced an-nounced by Tintic president Robert A. Hunt and Toledo president Anthony G. Hatsis. The News interviewed Harry J. Olson and other members of Amax who are in Milford for the exploration and they confirmed con-firmed the agreement to do exploration work at the Cactus. According to the release Amax reserves the right to terminate ter-minate the contract at any time should exploration not disclose a deposit of size and grade to justify a commercial operation. Primary purpose of the project pro-ject according to the release, will be a search for deep ore under presently explored reserves. re-serves. This will require drilling drill-ing to depths in excess of 1,000 feet. |