MINING NEWS.

Auckland Star, Volume LXIV, Issue 252, 25 October 1933, Page 4

MINING NEWS.

TALISMAN DUBBO. During tile Vweek ending October 21 sloping was continued at No. 1 Talisman level. In tbe north end of the stope the reef is lft <jin wide and is of fair value, and in the centre of the stope the reef is 3ft wide and of very fair value. Forty tons of ore have been sent to tlie Golden Dawn battery for treatment. AMALGAMATED KAWARAU. NEW PROJECT EXPLAINED. About 100 persons attended a meeteing held in the Lewis Eady Hall last evening, when .Mr. T. Ritchie, of Dunedin, explained the new Kawarau project of the Amalgamated Kawarau Gold Mining Company. Mr. Ritchie stated that under the Kawarau Gold Mining Amalgamation Act, 1930, provision was made for the whole of the original claimholders on tbe river to join in the amalgamation, and to receive 1/ fullypaid shares for the amount they hnd previously paid to the parent company 111 respect-of their claims. The original claims were for a seven-year lease to a quarter mile section of the river, with provision for a 20 per cent royalty on gold won. The new scheme, however, restored the original Interests of these claimholders on a shareholding basis, with no further liability, to a 3-1-year lease of 25 miles of the river, which, considering all things. Said Mr. Ritchie, was well worth while, In spite of the past disappointments. The capital of the now company was £250,000, of which £70,000 would be required for the new dam. This would be built below the junction of the Arrow and Shotover Rivers, thus overcoming the cause of the failure of the original dam, which did not control the flow of these rivers. A sum of £5000 was being provided for compensation for land flooded and £33,000 was being reserved. It was estimated it would take twelve months to crect the dam. GOLDEN SANDS RETURN. CHRISTCHURCH. this day. Golden Sands, Ltd. (Barrytown), gold return is 31oz 12dwts for 30 shifts.