MINING NEWS

New Zealand Herald, Volume LXXI, Issue 21702, 18 January 1934, Page 5

MINING NEWS

BULOLO PRODUCTION The returns of the No. I and No. 2 dredges of Hulolo Gold Dredging, Limited (New Guinea), for December, with November figures in parentheses, wero as follows:—-Cubic yards treated, 410,800 ( 400,200); bullion ounces, 10,076 (10,202); gold, fine ounces. 6680 (6764); value, Australian currency, at 1:7 10s ft fine ounce, £30,100 (£.*>0,780); working profit, Australian currency, £37,620 (£38,220). No. 3 dredge treated -I*ll,ooo yards for 405 ounefcs. No. 1 dredge is being closed for about, 12 days this month to lix.it with pontoons.

Four deep test-holes on tho upper half of tho original .Bulolo area show payable gravel to a depth of 701t., and tho clay stratum at 22ft. to which the original yardogo was calculated now appears to bo a false bottom. The deep drilling is proceeding, and further equipment has been ordered to expedite this.

REPORTS OF MANAGERS Golden Point (Central Otago).—A contract has been lot for tbo completion of the homo reof rise, and a contract is being arranged for driving an extension of No. 4 crosscut, 150 ft. Ihis extension is being made for the purposo of rising to the homo reef overlying tho low lovql to the north-east-, nt which point this roof had not previously been intercepted. A further extension of 150 ft. in tho same direction will bo driven whon the work now being undertaken is completed.