MINING NEWS.

Auckland Star, Volume LXIV, Issue 74, 29 March 1933, Page 4

MINING NEWS.

OKARITO RETURNS. The Okarito Five mile Beach Cold Dredgi ing Company. Ltd., which is operating in I South Westland, reports a wnshup of S7oz i lOdwt for HIS hours' dredging. : AUSTRALIAN PRICE OF GOLD. , The price fixed by the Commonwealth Bank for gold, including jewellery, lodged . at the Melbourne Mint, for the week ended March 17, was at the rate of approximately £G 15/1 a standard ounce (22 carats), equal to a premium of 70.51 per cent. Payment is made according to the assay value of the gold. The price was Id higher on the week. The price an ounce line was £7 7/0, a rise of 2d on the week. The Commonwealth Bank's price for sovereigns at head office, Sydney, remained at 33/6 each. MINE MANAGERS' REPORTS. Long Trail (Colville). —Owing to wet weather the progress of work has been retarded, and no ore was delivered to the battery during the week. Ou No. 1 reef. 100 ft level, No. 1 rise is up 2oft, making 16ft for the week. The reef is 2ft wide in the back. The quartz broken looks very well and has improved in value, giving a fair prospect in the dish when pounded. No. 2 leader east drive was advanced a further 16ft, and the leader has changed its course more easterly, which will expedite the intersecting of the junction with No. 3 leader. The ore broken varied from 2in to 1-iin wide. was of consistent value, and is paddocked ready to deliver to the battery. No. 2 leader west drive is now out 52ft, making 12ft for the week. The ore has been high grade for the full distance. No. 3 leader intermediate drive has been advanced to 60ft. making lift for the week. The leader is Sin wide. The ore has been pnddocked for treatment. The mine is now producing ore in larger quantities and, providing transport facilities are available, the battery can be kept running continuously. Golconda. —During the week fair progress has been made in unwatering the shaft "and the low level, and there is now only 3ft of water on the flatsheet at the lowest level. Progress Is satisfactory though slow on account of the backing up of the water in the reefs and crevices. Footwnll Dropper—We have continued the winze and knocked through to the intermediate level, hut apparently the dropper is in the footwall of the main reef. When holed through we were, flooded out with gas, and could not ascertain the true position. We will put a pipe line in from the compressor on Monday to drive the gas out. The dropper, when we were working on it, opened out and there is a band of zinc blende about 2in. which shows gold freely intermixed with the zinc blende. Hanging Wall.-—We resumed work in the winze on the Jnnging dropper to connect with the rise put up from the 70ft level. Colours of gold have been seen in every hole fired out. The hanging wall dropper will connect with the main reef in about Bft of sinking, and I think it is the dropper that was instrumental in making the gold in the old No. 1 winze. Our object, pending the drainage of the low level, is to try and connect with the winze on the footwall dropper, and the winze on the hanging wall dropper. The main reef is between, and with the junctions of each we will probably get good results. All the ore from the winzes is being saved for treatment, wheu the water power is available. Talisman Dubbo. — During the week the drive at No. 1 Talisman level was extended! 10 feet. The reef is three feet wide; the! values are irregular, but should be payable. Some nice prospects were seen in I the dish during the week. j