MINING NEWS
OKARITO RETURN The Okarito Five Mile Beach Gold Dredging Company, Limited, which is oporating in South Westland, a return of 790z. Bdwt. for 120 hours' dredging. AUSTRALIAN PRICE OF GOLD Tho price fixed by tho Commonwealth Bank for gold, including jewellery, lodged at the Melbourne Mint for the week ended August 11, was at the rate of approximately £7 0s 7£d a standard ounce (22 carats), equal to a premium of 80.59 per cent. Payment is made according to tho assay value of tho gold. Tho prico was 2Ad lower on tho week. Tho prico an ounce fine was £7 lMs sd, a fall of 2d on tho week. Tho Commonwealth Bank's price for sovereigns at head ofTico, Sydnoy, was unchanged at 355. REPORTS OF MANAGERS Golconda Mines (Thames). —Wo have continued tho drive on the reef in tho west end. Tho reef is heavily mineralised, but no gold has boon seen. Good progress has been mado in picking up tho stopo on tho branch reef south, and tho oro that has fallen away shows colours of gold. Wo aro stoping at tho junction of tho branch reef and tho No. 2 reef west, and tho oro will go to tho mill next week. Tho branch reef is about 15in. wide, and colours of gold are seen in if. Tho quartz is carrying a fair amount of silica and zinc blondo.
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Bibliographic details
New Zealand Herald, Volume LXX, Issue 21576, 22 August 1933, Page 5
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233MINING NEWS New Zealand Herald, Volume LXX, Issue 21576, 22 August 1933, Page 5
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