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Show September 8, 1969 Page 3 OIL & MINING JOURNAL Silverado shareholders eye merger DENVER Shareholders of Silverado Mining Co., Inc., Two rotary drilling rigs, various working interests in six oil and gas wells and about 4,000 acres of undeveloped oil and gas leases in Muskingum and Guernsey counties, Ohio, are the principal assets which would be acquired by Silverado. Monroe Denver, and La Mar Drilling Co., Cambridge, Ohio, will be asked to vote on a proposed merger of the two companies. The boards of directors of both corporations have agreed in principal to a merger with Marks, president of Silverado as the surviving La Mar Drilling Co., would continue to manage the development of the corporation. According to Silverados management, the Mesaverde Ohio oil and gas properties according to a letter to Silverado sand formations of the area are estimated to contain gas in place of about 100 billion cubic feet per section of land, which is in many cases not economically Mining Co. shareholders. Also announced in the letter was the purchase of an undivided one-ha- lf interest in a recoverable with usual Federal oil and gas lease just six miles south of the underground nuclear stimulation test known as Project Rulison. four-secti- on production methods. If Project Rulison is the letter states, successful, management feels that this acquisition could provide Silverado reserves. with substantial gas The letter said the acquired lease has a shut-i- n well drilled to a depth of 7,949 feet, which is thereby held by production until a market outlet gas-distill- is developed. chuckin o few By Chuck Hayward of here, in the Big HELENA, Montana-Nor- th Belt Mountains is a mass of rock they call tlie sleeping giant-- a popular visiting spot for tourists. But a little more to the east, near the town of Marysvale, Lewis and Clark County, is another dozing giant, and this one was once alive. Some of Montanas richest gold ores were taken out of the rocks and streams in and a bustling, brawling around Marysvale-on- ce mining town of 7,000 in which the population now numbers maybe 200 when everybodys at home. READY FOR TRIP INTO EMPIRE MINE main shaft are, from left, Chuck Hayward, Editor & Publisher of Oil & Mining Journal; Herb Carver, mine foreman; Armin Rosen-haEast Antelope metallurgist, and Harold Smithson, consulting geologist n. a ra a ra mi ra ra mi ra ra mi a a rr ra mi mi ra mi aa a ra a ra ra ra ra ra ra r n ra ra Good Investment ONLY 10 FOR AN ENTIRE YEAR OF WEEKLY MINING & OIL INFO JUST CLIP AND MAUL THIS COUPON I IW Evidence of dredge mining is everywhere around the- Greater Helena Mining District. From the fabulously profitable Last Chance Gulch at Helenas front door to the smallest mountain stream, grassy knolls and ridges mark the path of old gold dredges-mo-st of them long gone. And the underground mines in the surrounding mountains that once yielded tens of million in gold and silver almost without exception are quiet, closed, their equipment rusting or gone. - Herb Carver, 67, has spent all his life in the mines of the West. For the past six years he has served as caretaker and developer of one of the few of the fabulously rich Marysvale mines still in operating condition. The Empire Mine, recently sold to East Antelope Corporation, is his current love, and he has rightly been named mine director by the buyers. Herb HH cant understand why the sudden and continued cessation of mining activity around his stomping grounds. They were all closed up in the 40s, and none of them has reopened. You know they ALL couldnt have run out of ore at the same time, he says PUBLISHER: P. 0. Box 19243, Salt Lake City, Utah 84119 Please eater aiy subscription to the Rocky Mountain Oil A MINING JOURNAL Name Address Cy Zip Code State One explanation, he allows, might be the fact that underground mining is no longer the fad in the U.S. Volume, thats all their interested in anymore, he claims. Shove as much rock as you can through the mill heads and never mind whether theres any value in it. Theres hardly a decent hard rock miner left around. CHECK ONE: One Year $10 j S JttJKvJVijttSe 2 years $18 3 years $21 Inquire about our special rates for mailing the journal directly to your clients Herb prefers to block out the rich ore, eliminate the waste and get some dollars at the mill head. High grade?You know word. its really not a dirty |