MINING NEWS.

Auckland Star, Volume LXV, Issue 228, 26 September 1934, Page 4

MINING NEWS.

GOLDEN CROWN.

YIELDS OF COMPANIES.

GOLDFIELDS DREDGING CO

Following dissatisfaction expressed foy members with the position of 100,000 shares in the Goldtields Dredging Company, Limited, held in reserve under call to nominees of Industries, Limited, for a period of three years at par, the Dunedin Stock Exchange recently placed its views before the company. The Goldtields Company in reply stated that in order to meet the liabilities of the company the directors tnouglit it advisable to release 20,000 of the shares held in reserve. These were, taken over by Industries, Limited, at par, and wCre again disposed of at par. Members of the Dunedin Stock Exchange, states the Otago "Daily Times," are of the opinion that the remaining 80,000 shares should be offered to shareholders, or that the company should distinctly state that the shares are going to be held in reserve for some definite period. MINE MANAGER'S REPORT. Talisman Dubbo.—Report for fortnight ending September 22. Talisman No. 1 level: Drive srriutli advanced 23ft, total 384 ft from main rise. At 3tsoft a quartz vein of high grade ore 4in wide appeared on hangingwall, widening to 12in at ,375 ft, thence up to face in quartz of good value. In stope 30ft above the level from 245 ft south ot main rise the reef runs from Ift to 4ft. North of the stope the lode consists of clay and quartz boulders, of good value. Dubbo level: From 265 ft to 2Soft north of the level entrance the reef varies from 12in to 18in of quartz of gooti value. Breaking out the lode from 620 ft to 640 ft north exposes very good quartz, 12in wide. Stoping: The main stope has been extended 15ft, and 18in of the reef is sent to the mill, quartz showing good dish prospects. At the south end the stope shows improvement at 15ft above the level. Mclntyre's leader: A crosscut has been driven 20ft with the object of intersecting this leatler 50ft below the good ore recently worked by tributer. It is now in solid country with 03ft to drive to cut the lode.

Mr. Albert A. Adams reports that one ton of ore from the reef north of the fault in the Golden Crown Mine (formerly a portion of the Komata reef property) lias been crushed with the following result: Value of ore, £23 14/2; recovered by amalgamation. £10 18/8; assay of sands, £13 6/3; assay value of sluices. £7 13/2; concentrates (2J per cent), £52 2/. The gohl is valued at £7 per oz, and silver at J/6 per oz. This ton of ore was taken from a reef, 3ft 61n in width.

Bell-Kilgour (Cromwell).—Last week, Ooz Odwt.