Show Important Agreement I Reached For Mining I 1 A historic accord among the Silver I King Coalition Mines Co Park Utah Consolidated Mines Co and Daly Mining I 1 Co on exploration of common property In n the Park City district was announced Thursday I IThe The agreement provides for the mining I of or the territory in the lower level of ot the i I Crescent fissure and the hanging walls of ot the Daly fissure l I I Possible controversy over ownership of at the ore are because of rights of the parties heretofore had prevented development at lower levels The Crescent fissure apexes on Silver SUver King ground but dips at lower levels toward Park Utah and Daly property The Tho Daly fissure apexes on Park Utah and Daly ground but dips at lower levels toward the Silver King Question of which company would own the ore at greater depths had held up development of the property at those depths for decades d The accord was reached between James Ivers vice president of or Silver Sliver King Sing and O. O 0 N. N Friendly vice president of Park Utah and president of Daly after arter discussions lasting several years They announced the agreement pro pro- provides provides provides vides that the Park Utah and the Daly companies have agreed upon a 50 division of ot ownership of ore in the lower levels in approximately acres acres acres' of land Silver King has contributed one- one half haIr of or the acreage and Park Utah-Daly Utah companies a a. like amount The area Involved will extend for approximately 1 miles along the strike of ot the Crescent fissure and will be 1200 feet wide Both company executives said the I I Ia Crescent fissure has in past years been beena side sidel a a prolific producer on its The Daly fissure has been a large producer pro pro- producer producer I ducer on its side as well I IThe The present agreement will permit I Ithe the zinc silver ores to be mined on the hanging wall side of or the Crescent fissure In the same geologic horizons as were fertile on the side Mr Ivers Ivors and Mr Friendly said sald 1 i I They both emphasized however that plans for development will be started t only when assurances can be had that the tho market price for metals will be stabilized at a point high enough to Justify operations The lower levels of or the Crescent fissure are not to be confused with the recently active workings of ot Silver King I Ito Ito to the north Fridays Friday's Fridays Friday's Tribune 1 I |