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CROMWELL GOLD.

WORK TO START WHEN SEASON PERMITS. AX OVERSEAS COMPANY. (TRESS ASSOCIATION TELEGRAM.) WELLINGTON, July 12. New Zealand Mines, Ltd., a development company with its registered office in Wellington, acquired control. 18 months ago, over approximately 800 acres in the Nevis Valley near Cromwell. Alluvial Gold, Ltd., an overseas company, interested itself in the mine and, as a result of the preliminary investigation work, New Zealand Mines, Ltd., has received advice that it is the intention of Alluvial Gold, Ltd., to commence detailed boring operations upon the property as soon as the season permits. The company has made arrangements to send to New Zealand drilling plants and a staff of experts. It is stated to be the intention of the company, following the result of boring operations, to install three modern electric dredges. Electricpower will be supplied from the company's station which is to be erected near Garston. KEEP-IT-DARIv MINE. A party has been busy for some time in reopening the Keep-It-Dark quartz mine at Reefton, which returned good dividends some years ago. The Golden Ledge tunnel has been reopened for C6O feet, and from the cross-cut. the intermediate level was reached. A nice sample of stone was taken out. The reef in this level has about 250 feet of backs. This is the eastern or Hercules cage line, about 200 feet east of any known workings in the Keep-It - Dark mine. As this block of stone in the Golden Ledge is in virgin country, it should open up a new mine altogether. It is understood that tiie owners' purpise is to erect a small battery and to work the area themI selves. | IiULOLO HOLD DREDGING, j LIMITED. Mr Fred. G. Dunn, attorney for Cluths' Development, Ltd., reports the receipt of the following production of the Bulolo dredges:— The total yield for the period ended June 30 from dredges Nos. 1 and 2, amounted to 12,2000z of bullion from 489,300 cubic yards of an approxi- | mate value of 168,987 gold dollars. Compared with the two preceding months the details are as follows: — Period ended I April 30. May 31. June 30. ; Cubic yards 489,100 490,500 489,300 Bulllion, oz. 11,147 12,154 12,290 Value — Gold dollars 153,271 167,117 168,987 Gold pounds (par) .. £31,537 £34.386 £34,771 Per cubic yard /16.47 /16,82 /17.05 Aust. currency £50.766 £61,207 £61,198 Per cubic yard /27.85 /30.02 /30.01 SNOWY RIVEK SLUICING COMPANY. The manager reports as follows: During last weejc work proceeded very satisfactorily, the area between the sluice-boxes and the face being cleared of logs and stumps to give a clear run to the head box. The head box, sluice boxes, and tail boxes are now in position. It is expected that operations will be well in hand by the end of this week, two shifts being worked. | SKIPPERS, LIMITED. At a meeting of the provisional directors of Skippers, Ltd., held on Tuesday, the company went to allotment, ! heavily over-subscribed. The Mining House (N.Z.), Ltd., who sponsored the project, report that the rush of capital necessitates in gome instances a reduction in the number of shares allotted to applicants. The provisional directors are Dr. E. C. Hayes and Mr W. F. Tait (Christchurch), Mr S. P. Cameron (Dunedin). Mr Tait was appointed chairman for the time being. The new company is to acquire mining privileges on or adjacent to the Shotover River and approximately twenty miles from Qucenstown. The areas cover between three and four miles of the bed of the Shotover and include Mr A. E. Smith's claim at Maori Point. The capital of the company is £75,000 divided into Is shares. HELL HILL SLUICING COMPANY. The company has received a report from its mine manager stating that for the week ending July 8 sluicing has been continued under favourable conditions and the prospects appear satisfactory. STEWART GOLD, LIMITED. Sluicing operations, which were commenced at the Stewart Gold claim at Waikaka two weeks ago, have been retarded to some extent by the extremely hard frosts which have prevailed. The boxes were washed on Saturday last for a return of 30oz sdwt of gold won from opening out the paddock with water pumped by one engine only. The Diesel engine on the booster pump developed a fault early last week, necessitating the carrying on of operations with only a low pressure on the nozzles. An electric motor is being installed to operate the booster pump in the meantime. The main engine, a Diesel of 114 h.p., which is used to drive a centrifugal pump for delivering the water into the reservoir, is running continuously and giving satisfaction. PRICE OK SILVER. (BRITISH OFFICIAL WinELESS.) RUGBY. July 11. Silver (pence an ounce) is quoted:— July 10. July 11. Spot .. 175 17 15-16 Forward .. 18 181-16 PRICE OF GOLD. (VNITF.Ii FRF.S3 ASSOCIATION— IS Y ELECTEIw tei.sgraph—coriaioirr.) LONDON, July 11. Gold (a fine ounce) is quoted as follows: — £ s. d. July 11 .. .. 6 4 10 July 10 .. .. C 4 6 July 8 .. ..645 July i) .. ..641 July 5 .. ..637 July 4 .. .. 6 2 10 TUOPERTY SALE. Baker Bins, report having sold, on account of Mr Ji-ohert Chambers, .n building taction in Oxford tnrmro, opposite the baud rotunda, to a client. —6

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https://paperspast.natlib.govt.nz/newspapers/CHP19330713.2.105.3

Bibliographic details

Press, Volume LXIX, Issue 20906, 13 July 1933, Page 11

Word Count
861

CROMWELL GOLD. Press, Volume LXIX, Issue 20906, 13 July 1933, Page 11

CROMWELL GOLD. Press, Volume LXIX, Issue 20906, 13 July 1933, Page 11