MINING NEWS.

Auckland Star, Volume LXVI, Issue 68, 21 March 1935, Page 18

MINING NEWS.

MATAKI COMPANY. The third annual accounts of Jlataki Gold Dredging, Limited, which is operating near Murcliison, show a net profit of £2316 for the year ended December 31. Two interim dividends of Id a share each absorbed £2812, and £70 is carried forward,, against £566 ITrought into the accounts. The report states that during the year the dredge dealt with 659,364 yds of material, showing a weekly average of 12,929yd5. The gold won amounted to approximately 16640z. which realised net £12,086. an average return of £7 5/3 an ounce. The amount of gold tax paid to the Government amounted to £1027, or 8 per cent of the company's total return. , i Tt had now . been definitely, established that the old dredge which operated in the river manv years. ago covered a much greater area tlian was supposed, and eventually sank considerably further up the river' than the spot where most of the wreckage was discovered. The nature of the ground through which the dredge was now passing indicated that the next few months should sec the dredge in virgin country. ~ , The balance-sheet shows paid capital. £33 807. Other liabilities include: Directors fees, £"50: total. £084. Asse's include £jOS in the Auckland Savings Bank, and an insurance policy dredge replacement account standing at £602. _____ MINE MANAGERS' REPORTS. Talisman Dubbo.—Report for period ended March 9.— Mclntyre's leader : The drive south is now out lloft. At lOift south the vein was 4in wide and the assay value very good. At 115 ft south several veins appear in the face of totalling Sin in width, fair value. Dubbo level: The assay values from the stones where the ore is being obtained is as follows : 204 ft north, 47ft above level, li. wall vein. 15in wide, good value; 304 ft north, 7oft above level, 2fin, very good value; 2i9ft north, 78ft above level. 30in. very good value. Talisman No. 1 level : At -60ft south. 85ft above level, the stope shows a vein on the h. wall side of the stope 6in wide of very high grade ore. This vein is divided from the footwall section of the lode bv Bft of country rock. At 249 ft south the footwall vein is 16in wide very good value; at 430 ft south. 33ft above level, the lode is 16in wide, good value; at 410 ft south, 33ft above level, the lode is 12in wide, very good value.