Show Hecla Mining Company Operates Mayflower Mine for New y Park PARK CITY CITY- Directors of of the New Park Mining Co and Hecla Mining Co Wednesday announced agreement naming Helca the operator of the Mayflower l silver lead mine in Utah's Park City District I Under the agreement construction construction tion of a ton day ton day concentrator tor capable of handling the higher gold values value's being found in the Pearl Fissure e would be bul built t near the Keetley mine While details of the agreement were not disclosed both mining firms firma said the objective of the tern long lease on the Mayflower was to speed exploration and de do This work would enlarge ore reserves and materially Increase production and profits Discussion between New Park and Hecla have been going on for some time In general the agreement also provides for ultimate payment ofa of ofa a substantial amount of cash annually annually an an- to New Park The Utah firm also would receive a substantial substantial substantial sub sub- share of profits from production production pro pro- after acter payment of mining costs and costs of the new mill Record for Underground Operations Hecla Mining Co has an out outstanding standing record among western mining firms for efficiency of Underground underground un Un- operation operations and production production tion of ot nonferrous metals at average average aver aver- age lower costs than many larger underground mining firms I I The company has operated In Utah's Big DIg uranium district din dis for many years and is re responsible responsible re- re for tor the innovation of long wall methods of mining Inthe Inthe in inthe the western uranium Industry The Radon property will be mined out substantially in a couple of years and the Wallace Idaho firm has been active in seeking new situations to which its experience and engineering ability may be applied The New Park deal is regarded as such a situation On the other hand New Park has haa one o of the largest land and claim positions of any operators 1 In the Park City District above and beyond the extensive Mayflower Mayflower May May- flower lease jease Properties outside the er lea lease are not Included in the Hecla deal at this time Exploration Program In Deeper Mine Areas Arou New Park has baa carried on an all exploration program In the det deep d deeper deep er et areas of ot the property in recent n seeking zones cones of Increased ed ore deposition at depth Extensive Installations capable of handling ng Increased hoisting and anet water Vater pumping requirements have haye been made Developments in recent weeks alon aion along the pearl Fissure have bave been teen encouraging n with a widening of high grade ore deposition and a bike ln gol J Robert W. W De lk Tribune Du Business Edi Editor tor |