MINING.

Auckland Star, Volume LXVIII, Issue 156, 3 July 1937, Page 4

MINING.

A QUEENSLAND PROJECT.

MOROBE COMPANIES' OPTION

AREA NEAR QUEEXSTOWN

Morobe Alluvials X.L. and New Morobe Gold N.L., both of which were interested in New Guinea ventures, have acquired a joint option over a large alluvial gold area near New Zealand. In the event of the option bei iifec exercised a company with a nominal capital of i' 125.000 in 250.000 shares of 10/ each is likely to be formed to work the area.

The area, which is estini ited to contain upward of 50.000,000 cubic yards, is confined to a valley through which the Moonlight, Kiver flows. The water supply for sluicing is said to be abundant. The overburden varies from 100 ft to ISOft in height, and coiiMots of loose free gravel of a light nature, free of clay.

Mi'. F. Carter, alluvial mining engineer, is pi ni ecdinir immediately to New Zealand to chock the yardage and values in the property. Should hi* report he favouraide the new working company will be formed.

MANAGERS' REPORTS. White's Klectrie (West Coast).—The coin pany's engineer reports that the reeon *t ruction of ihc< table* is proceeding satis faetorily and he anticipates the <lrctfc;i Will rrcciiiiini-nco operations about July 2o Uexiuann Minos (Coroniandol». —For wccl ended .linn- L'.i :On account ~f W et weathei tin- compan.v's prospector was unable t( continue the tri-iic-liinsr of Carvel reef. Hi was transferred to Hip head of I,anigan: linlly. where Oeraldino reef should hi found on the hansririffwall of the mail in'rusive. About 17 chains north-west oi i Carvel r"of some lilkli grade quartz was located, hut this was not in situ. Tin I reef whieh shed this is close at hand anc in few days' work should suffice to loeati if.