MINING NEWS.

Auckland Star, Volume LXVI, Issue 102, 2 May 1935, Page 4

MINING NEWS.

YIELDS OF COMPANIES. Stafford Dredging (Hokltika). —rcriod to April 12, 540z sUwt for 12,813 yds and 104 hours' work. CHAPMAN'S FIND. A crushing of 4 tons lGcwt of general ore from the Chapman's Find claim (Coromundell yielded l!Uoz, while -Jib of picked stone returned 140Z 4dwt. AUSTRALIAN PRICE OF GOLD. The price fixed by the Commonwealth Hank for gold, including jewellery, lodged at the Melbourne Mint for the week ended April 1!), was at the rate of approximately A: 8 2/41 a standard ounce -<-!2 carats), equal to a premium of 108.li per cent. Payment is made according to the assay value of gold. The price was ">ld lower on tile week. The price an ounce tine was ii S 17/1 1, u fall of Old on the week.

BLACKWATER. The Blackwater Mines' return for the quarter ended March 31 Is:—No. 10 level was extended south for 1301 ft in blank fault line. No. 12 level was extended 30">ift, ot which loft was in blank, the remainder being on reef averaging 25in width ami 14.88dwt value. Winging totalled 148 J ft, of which 82ift exposed reef of an average value of 14.21dwt over 13In, the remainder of 00ft being in blank. Rising totalled 00ft and the whole of progress exposed reef of an .average value of 17.78 dwt over 29in. The Prohibition (or north shaft) was sunk 12oft, making a total depth of 2350 ft or 150 ft below level of No. 12 plat. Output: 11,024 tons were crashed, yielding 4719 line ounces of gold, front all sources, the value of which. takiiiK sold ut the current monthly value, amounted to £33,741. Working expenses were £10,851, leaving a working proHt of £10,890. Development expenditure was £2330 and capital expenditure £ 2059. SKIPPERS OPERATIONS. Addressing shareholders at the annual meeting of Skippers, Limited, In Christchurch this week, Mr. W. P. Talt, chnirmnn of directors, said that abnormal flood conditions had affected working results for the year. The directors had decided to carry on operations on a smaller scale, and with an all-round retrenchment the overall expenditure was brought down to such a figure as to enable the continuance of sluicing work for a considerable time to come, while investigations were helng made in the direction of procuring additional power. With certain additions to plant, profitable work could be .l||ured. irrespective of whether present abnormal conditions continued. The proposed increase in power would bring the company's gold production to a high degree of independence. MAORI GULLY DREDGE. The first wash-up at Maori Gully (West Const) will he made at the end of this week. Dredging was resumed last Wednesday, folloV'iu" a break for alterations to the winch and for the Easter holidays. Three shifts are belns worked, and Ihe dredge is operating to a depth of from ISft to 20ft.