MINING NEWS.

Auckland Star, Volume LVX, Issue 268, 12 November 1934, Page 4

MINING NEWS.

NEW GUINEA GOLD. DISPOSAL OF ASSETS. In a circular to shareholders in New Guinea Gold Exploitation, Ltd., the secretary of the company states: —rollowing "the authority granted by shareholders at the extraordinary genera 1 meeting, held on August (i. the directors have disposed of the assets of the company to (.in in en gold. Ltd., the total consideration being 48,000 shares of one shilling each fully paid up in the capital of that company. The company now having thus disposed of its assets there remains only the consequent process ot liquidation of ■ New Guinea Gold Exploitation Ltd and the distribution of the above shares among the shareholders. The proportion will be one share in Guineagold, Ltd., for every five shares held In New Guinea Gold Exploitation Ltd. Notice also is given that an extraordinary general meeting of shareholders Of New Guinea Gold Exploitation, Ltd.. will be held in Auckland on Friday, November 80, to consider ami if thought fit., to pass as n special resolution the following: — "That the company be wound up voluntarily and that Archibald Peter Stewart Bell, companv secretary, or Auckland, be appointed liquidator for the purpose of such winding up." MONOWAI OPTION. An option has been granted lo a representative of a London corporation for the purchase of the mining properties of the Monowai Gold, Copper and Lead Mines, Limited tin liquidation), at Waiomo, together with all plant and other assets of the company. The option-holders have decided upon development work at a lower level. A contract has been let for opening a new level 220 ft below No. 4 level, its principal objective being the Monowai reef, which ranges from 32ft lo 30ft In width. This should be to hand In 030 ft of driving. YIELDS OF COMPANIES. Mahakipawa (Marlborough).—Last week, 30oz. Bell-Hooper (Cromwell). —Last week, 550z Gdwt. Brian Born (near Greymouth).—Last week, lOoz l:(d*.'t, for 115 hours' work and 2100 yards treated. Lawson's Flat (Kumara). —Fortnight ended November 5, 540z odwt of retorted gold. Golden Dawn.—For the eleven working davs ended October 20 238 tons of ore were treated for a return of £054, realisation estimated at K7 2/ per oz. Oknrlto.—s4oz 12dwt for 127 hours. Gillespie's.—44oz odwt for 121 hours. MINE MANAGERS' REPORTS Walorongomal (Te Aroha). —The construction of the air-compressor plant has been completed and the extension of the Bonanza low level has been let to a contract party. In thc*Cadman section the Smithy level" is being driven westward 150 ft to intersect the Waitoki, Werahiko and Moa reefs. , , „ Golden Dawn (for fortnight ended November 3).—Development: No. 3 level—Drive, north from winze on No. 3 reef extended 22ft, reef averages "ft wide, looking well, but assays by assay value 10/10 per ton. Drive north from winze on No. 1 reef extended Oft. 12in wide, £2 8/8 per ton. Drive south from winze on No. 1 reef driven 12ft. reef 12in wide, £1 17/4 per ton. Drive north on No. 1 reef from old stopes extended lift. Bin wide, 8/1 per ton. Drivn soutli on eastwall branch reef from crosscut west extended lift. 01 n wide, value ill 1/3 per ton. Bottom intermediate levelDrive north on wcstwall branch No. 1 reef driven Sft, ISin wide, 1/8 per ton. Drive south on eastwall branch No. 3 reef extended 12ft. reef loin wide, valued £2 0/<S per ton. Top Intermediate level—Crosscut west driven sft in good class of country. Farmers: Cleaning and retlmhcring of crosscut continued. Sloping: No. 3 level— On eastwall branch reef north of winzo reef 15in wide, assay £12 10/3 per ton. On eastwall branch reel south of crosscut loin wide, £14 7/ per ton. Top Intermediate level—On eastwall branch reef 14iu wide. £2 11/ per ton. Underhand stopes on No. 2 reef 20in wide, £8 3/ per ton. No. 2 ] ( . v ,.l—On No. 3 reef south 151n wide, value £1 8/ per ton. Talisman Dubbo (for fortnight ended November 3). —Talisman No. 1 level: Drive south advanced Sft. total 417 ft south of main rise. The lode fissure is 4ft wide, consisting of clay and quartz rubble. A vein of clean quartz now appears In the face on the font wall of lode about -tin wide. Sloping—Ore was obtained from the main rise to 50ft soutli. 75ft above the level. Assays averaged fair for width of 24in. Ore was obtained from 253 ft to 315 ft south of the rise to 40ft above the level, the uveruge value being very good. The lode varies in width from 201n to 72in. Dubbo level: Stoplng—ln the stopes nt 200 ft north 30ft above the level 20in on the hangingwall assayed very good ;• at 280 ft north ISin on the hangingwall assayed very good. The average value from 201 ft to -400 ft is good, width 21in. Heights above level from 12ft to 40ft. Breaking out the level for sloping has been started at 170 ft north and will hi: continued to 273 ft to connect with the present stope. The value at 200 ft north is very good, width 12in. McIntyre's leader: The main crosscut was advanced Bft, total 100 from entrance, exposing rock country only. Driving south on the vein cut at 02ft in the crosscut was advanced a total of 10ft. Leader broken up into different veins. Mahakipawa.—Report for week ending November 7 :—A blocking strip from the crosscut east. Lift behind the leading face, lias been taken out level with the leading face and stopped. This was iu very good grade wash when it finished. A blocking strip has been started from the crosscut above and is being taken out back along the side of the level in average grade wash showing 2ft of bolt The prospecting drive; east is now out 27ft in brown coloured wash on a rising bottom. The prospecting drive (south-west) off No. 11 east crosscut has been extended to 28ft from the crosscut. This is still in low ground of a sandy nature. No. 2 shaft : The temporary head frame has been pulled down and work started on the permanent structure.

Big River. —Report for week ending November 8: —Xo. 3 crosscut: Distance driven, lift. Distance driven from south drive, 206 ft. Distance driven from shaft, 403 ft. Slate country is at present in the face. No. 4 north drive : Total distance driven on reel", 50ft. The face Is much improved, the stone now being sft wide and clean. The leading stope over the level is looking well; clean stone Oft wide over the hack and in the face. No. 4 south drive : Total distance driven, 30ft. Fifteen feet is in reef averaging 4ft wide. The width in the lace is 4ft 6in. No. 1 level: Work is recommenced in this level. Battery: The battery is working one shift per day. Goleonda.—During the week wo rose a few feet on the mineral band, and a few colours of gold were seen. The level behind us got very heavy, and we had to timber this up. We started on Thursday last, and it will take until about next Wednesday to complete the Job.