MINING NEWS.

Auckland Star, Volume LXVIII, Issue 229, 27 September 1937, Page 4

MINING NEWS.

SKIPPERS, LIMITED. The third annual general meeting of Skippers. Limited, was held in Chcistchurch last week, the chairman, Mr. W. F. Tait. presiding. In moving the ndr.ntlon of the annual report and accounts, the chairman referred to the increased gold production and the diminished working expenditure, as compared with t lie previous financial year. He announced the completion of the hvdroelcetric .scheme and described tile difficulties of an engineering, as well as financial nature, which had been encountered. The plant was now working very satisfactorily. The chairman outlined the main features of the proposed temporary tribute arrangement, whereby the company would retain a substantial portion of the gold won. hut would be released from all mining expenditure, lie stated that the shareholders would be advised as soon as the tribute arrangements were completed. The directors had confidence in the future of the company and hoped that progress henceforth would be speedy and uninterrupted. The aim ua I report and accounts were adopted unanimously. RETURNS OF COMPANIES. Matiki Junction (Mnrchisonl. for week rmlMl September 23. 47 ounces of smelted gold for 128 hours, and 20,000 yards dredged. Gillespie's Beach.—B9oz lldwt for 173 hours. MANAGERS' REPORTS. Golden Dawn.—Report for fortnight ending September 18.—No. 3 level: Crosscut west of No. 2 reef north driven 13ft. The country rock is of a splendid class for carrying reefs, being interlaced with quartz stringers and mineral veins. Drive north on No. 4 reef driven lift. Reef is split into two branches. The branch on west side of

drive averages Sin wide, value If!" per ton. The branch on east side averages lOin, value £.". .", n per ton. Drive north on reef in crosscut west driven 10ft. total 34ft. Reef wide, value 14'7 per ton. Drive south on same reef driven 10ff. Reef llin w'de. value 14: 8 per ton. Crosscut east off Xo. ,'! reef driven lift, total (!4ft. Country lock is a splendid class fur carrying reefs, being interlaced with quartz stringers. Stoping on reef going into westwall off Xo. 1 reef north. Reef l!»in wide, value £1 .1 V, per ton. Stoping on Xo. 2 reef north of Old Pass averages Win wide, value £2 17/ per ton. Xorth end of these stopes averages 17in. value £1 1/5 per ton. Stoping on Xo. 4 reef north and south of crosscut west. Reef averages 14in wide, value £0 4'l per ton. Stoping on westwall branch reef south. Reef lOin wide, value £7 o'4 per ton. Stoping on westwall branch reef north of rise averages Sin. value t'ii <i ." per ton. T'nderhand stones on Xo. 1 reef south. Reef 14in wide, value £3 S/1 per ton.