Show I Steen Is Quoted as Optimistic About Future of New Park Mine Park Mine By Robert II 11 Woody Tribune Business Editor The New Park Mining Co president pros pres ident Charles A. A Steen termed I i 1964 One of the tho most sivo and encouraging in the the history his his- I I tory of the compa company J i Prime factors in the good year 1 1 Successful operations of the Mayflower Mayflower May May- flower Mine at Park City by the operator Hecla Mining Co and New Parks Park's own exploration and I development progress at the Mammoth operation atM mm I I Juab County While New Parks Park's overall op operations op op- orations orations' didn't put it in a profit position for the year I 1 feel leel een confident con con- that the era of operating losses for the is is' company approaching approaching ap ap- lIng an end if the recent progress and success success- of the of-the the Mayflower May May- I flower and Mammoth operations continue and the present favorable favorable favor tavor able market prices of m do donot donot donot not deteriorate I Mr Steens Steen's comments are carried carried car ried In Ina a lett letter letter to stockholders I Down at atthe the Mammoth Mine work worle at the foot 2600 level had I Ito I to be suspended pending completion completion com com- of ol negotiations with Mam- Mam Mam-I Mam I moth No 2 Corp on claims to be bei included d in iri the Mammoth U Unit lt i Water Vater Causes Delay I Water encroachment at the 2 t foot level leyel level caused considerable j I delay in working a drift south south to the Ophir formation Pump cap capacity has been In increased eased The I drift now is being extended About r feet et remain to reach the Ophir I Another Another r- r drift dritt was started southward southward south south- ward wardon on the foot 2400 level where ore has been found To date the the ore ore has has an an indicated d length along the the fissure fissure of of- feet A stretch of about bout feet is 16 about 20 feet wide Another feet has a a 35 width We have no way of knowing how much farther to the south this ore wilt will extend but the drift is' is still sWI in ore Also nOway no noway way of ol knowing knowing- the vertical extent extent extent ex ex- tent of tit this this' ore either above or below below- although the 2600 foot 2600 foot level south drift is 16 being extended extend extend- ed on a highly highly mineralized fis fissure fissure fis- fis sure but has not rea reached hod the protected area of the ore ore found on th the foot 2400 level Assays have been erratic ranging ranging ranging rang rang rang- ing from tenth one of f an oun ounce of ol gold a ton 10 ounces silver of a a. ton and three three tenths tenths of on one per cent of lead to as high as as os two tenths of ol an ounce of ol gold a aton aton aton ton ounces of silver sUver a ton and 29 per cent lead The Th best estimate that can t d made at this this' I time time time-is is that the the ore will average average- about 40 a ton gross oos value A raise will immedi started started immedi immediately to determine upward dimension dimension dimen dimen- dimen- dimen sion lion for tor the ore zone If U it ft extends extends ex ex- tends upward from to to lull feet teet it will be considered feasible feasible- to Start tart miI mining and nd shipping ore If it metallurgical tests now now being being run u 1 prove th the ot ore ote to be bo amenable n to milling Ie 1 at I 1 Mayflower yf ower From Jan 1 to Nov 30 Hecla Heel a ml and d' d an milled dry ary tons ton of or ore from Mayflower for a a net pr prof or a a ton an an average a month About 48 8 per cent bf the thet net smelter returns were were attributable to gold and silver concentrates Exploration on on th the the- foot 2006 west lateral of arear-of the Madison limestone has be due to a 1 rge ol 1 of of water Developments on on the East Pearl lateral have ave been quite encouraging particularly on on the 2200 fiot level The western tern two thirds of the the the 1 Peirl e rl vein Showed the vein to f fairi fairly narrow although although although al al- though of gO good d grade The eastern eastern east east- ern erD third indicated a wider much up vein to an indicated 16 to 18 feet feet- and with values up up to about bOut i 60 net smelter smelter return l Ore Ore- reserves found during the year essentially will equal the theof tonnage of ore 1964 Mr Steen added |