GOLD MINING

Grey River Argus, 3 May 1937, Page 7

GOLD MINING

NEW RIVER. The official, rteturn of gold won by the New River dredge during the period 1 ended April 29 fs 940 z from 14,(000 yards treated in 184 hours’ dredging time. GILLESPIE’S. Gillespie’s Beach dredge return last week was.92oz 6dwt for 170 hours. MAORI GULLY. The lieturn of the Maori Gully dredge for last week was S3oz for 136 hours. KING SOLOMONThe King Solomon return for las/ week was 19oz 17dwt. STAFFORD. Stafford Gold Dredging, N-L- (N-Z-m shows a net loss of £750 for the year ended January 31, redue ng the cifcdit 'balance to £1414- The dredge treated 451,346 cubic yards, and recovered 1,449 ounces smelted gold. Proceeds were £11,712,; resulting in a "working profit of £362- Working expenditure was 6-04 d a cubic yard, against 6.3 d the previous year. Operations were suspended during August. There is a prospect of a more profitable operation for tho period ahead. At January 31, the company had £2146 gold in transit, creditors £l4ll, and bank overdraft £lBO5BIG RIVER. Report for! the period ending April 27, 1937: —Surface: Snow mid rain delayed work on repairs to the m'ne bins- No. 5 intermediate level: The south drive was advanced 12 feet 10 34 feet' through reef track carrying small boulders and seams of stone. The north drive was advanced 5 feet to 35 feet through disturbed reef track carrying small seams of stone in roof of drive- No. 5 south rise: This was advanced 9 feet to 29 feet 6 inches with 4 feet of good stone showing in north end of rise- Thirty-two and ahalf tons of stone were delivered to the suitface bins. GREENLAND. Greenland Gold Limited, registered on April 15. has a capital of £40,000 shares of £1 each. Subscribers; Pnpnnui—S- A. A- Fry 1000. Ross—N. OBierwirth 500, E- D- Davis 200, J. K. McKey 100- Hokitika—A- A- Eleoek 200, R. W- Ford 250. P- T. Renton 200, W- H- A. Stopforth 100. Mt. Greenland—R- Davis 50, W- Donnelly 50, A. F- Ord 50, T. D- Ord 50, L- D- Stokes 50, J. Oamer'on 50, G. Thompson 50,* J. M. Moar 50. ARAHURAArahura Gold Dredging. Ltd-, reports plans and specifications of the dredge were completed early this year. Satisfactory progress is being made w’th manufacture of equipment- The dredge will be e.lectr|ical'y operated, with 18 cubic feet buckets, capable of digging 400,000 cubic yards monthly-, and most modern type of' gold-saving plant. It is anticipated the dredge will begin operations about the middle of next year-

ARGO DREDGE The Argo dredge last week secured a return of 66 ozs. of gold, from 13,000 yards of material, in 128 hours. MOSSY CREEK. The Mossy Creek dredge last week secured a return of 17 ozs. 18 dwts. from 12,100 yards of material, in 130 hours. nemona. Nemona dredge return last week was 08 ozs. 14 dwts, not 90 ozs. QUOTATIONS- , Alexander (15s pa’d) 13s, —; Argo Gold — ; 2s; Barry town —, 355; Big R iver —, Is lOd; Gillespie’s Is od, Is 6d; Go’den Sands Is fid, 2s 6d; King Solomon —. 8d; Maori Gully ssd 6d; Mount Lyell 45s sd, 45s 6d; New River 74d, 8d; Skippers 2d, 3d; Worksop Is 4d, is 7d; Marltha 18s fid —; Mount Morgan 14s Hid, 15s; Mossy Creek 10d., Is Old; Grey River (3s fid paid) 4s Id, 4s 3d-

THE OUTLOOK.CHRISTCHURCH, April 30"The wild-cat element in New Zealand mining ventures seems to be giving way to more systematic ami thorough prospecting, and I hope in the near future that min’ng in the Dominion will be looked, upon as an investment more than a sheer blind stab in the dark,” su'd (he Minister foq Mines (Hon P- C- Webb) to-day,w announcing that he expected withw two years to have at. least 20 b g dredges operating on ground that, ha *been very thoroughly tested'