MINING NEWS

Evening Post, Volume CXXII, Issue 149, 21 December 1936, Page 16

MINING NEWS

THE MARTHA REPORT

The following information has been cabled to London:—No. 7 level: North branch of Martha lode: At 50ft up Gidden's Rise a crosscut was driven south and at 54ft it intersected quartz lft wide, of good grade. The vein is dipping one in one north. No. 8 level — West branch of Edward lode: Driving south-west. The next sft assays 43s per ton and the next lift is of little or no value. No. 9 level —North branch of Martha lode: Driving east. The next 20ft assays 24s 6d per ton. The width of the lode varies from 2ft to 4ft. ALLUVIAL GOLD (OCEANIA). Operations of Alluvial Gold (Oceania), Ltd., of which the whole of the £10,000 capital is held by Alluvial Gold, Ltd., were confined mainly to properties'in New Zealand during the year ended June 30. Kanieri Gold Dredging, Ltd., and Arahura Gold Dredging, Ltd., each with a capital of £205,000. were' formed, and dredge construction is now in progress. After boring, options over the main sections of a property on the Taramakau River have been exercised. Prospecting and testing account iscredited with £10,469 receivable from the Kanieri Company and £10.000 from the Arahura Company, against which is expenditure and depreciation of £12,511. The debit balance is thus reduced to £8585 from £16,543. Profit and 'loss account shows a credit balance of £9097. Shares held in Gold Mines of Papua, Ltd., are valued at £14,000. Payments made on account of the Arahura transaction amount to £51,756, including £10,000 recoverable testing expenditure. The company is indebted to associated companies in the sum of £56,211. KOMATA REEFS DIVIDEND. Cabled advice has been received from London by the Auckland Stock Exchange that the directors of the Komata Reefs Gold Mining Company have declared an interim dividend of 3d a share, free of tax, on account of the year ending March 31, 1936, payable on January 16 on all shares registered as at December 24. MATAKI JUNCTION. The Mataki Junction Gold Dredging NX. (Murchison) return for the four weeks ended December 17 was 311oz 7dwt 9gr for 469 hours' work and 95,500 cubic yards dredged. TALISMAN DUBBO. Talisman Dubbo, Karangahake, re-ports:—Fifty-five tons of ore were treated at the Golden Dawn battery for an approximate realisation of £425. GOLDEN DAWN. Golden Dawn, Owharoa, reports for fortnight ended December 12:—No. 3 level: Stoping, on reef going into westwall off No. 1 reef north, reef averages 15in, value £2 Is 7d a ton; on westwall branch reef, reef averages 14in, value £10 11s sd. Bottom intermediate level: Stoping, on eastwall branch of No. 3 reef south, reef averages. 14in, value 8s 6d; underhand stoping on No. 1 reef south, reef 2ft, value £2 17s 7d; on westwall branch reef north end, reef averages 20in, value £2 5s 3d; on westwall branch reef north block, reef averages 3ft, value £5 7s lid; on westwall branch reef south block, reef averages 2ft, value £4 14s 7d. BIG RIVER. Big River Gold Mines, Limited, report for week ending December 14, as follows:—No. 4 level: South stope is being filled in preparatory to taking off another stope of reef. In centre stope owing to values being too poor work was suspended, and the men transferred to .driving on reef track, with stone lft to 18in wide opposite the centre winze on the foot wall side of No. 4 level. No. 5 level: Driving has. been carried on on north and south reef tracks and in the main crosscut. South drive advanced 12ft with reef showing on hanging wall side 18in wide at top of drive and tapering down to a point at the bottom. North drive advanced 14ft through broken country carrying bonders and seams of stone which are looking promising for an improvement. Main crosscut advanced 4ft east, and there is a little water making in the face. Stone delivered to the surface bins, 36 tons. WHITE'S ELECTRIC DREDGE.

The return of White's Electric Dredge for the! fortnight to December 11 was 9ioz. recovered from tailings -through which the dredge has been working. The dredge will be in solid ground on December 21.