MINING NEWS

New Zealand Herald, Volume LXXI, Issue 21876, 11 August 1934, Page 7

MINING NEWS

YIELDS OF COMPANIES Bell-Kilgour (Cromwell). —This 240z. ■ 7dwt. Addisons Flat (West Coast)22om,' for 33J shifts. New Cornish Point (Cromwell).— From development work, 9dwt. of .gold was obtained from 14 yards of, wash dirt.

King Solomon (Gore). —Thid week* 86oz. 4dwt. BLACKWATER RETURNS Blackwater Mines, Limited (ReeN ton), reports the following returns fat July:—Crushed, 3850 tons, yielding 1901 fine ounces of gold from all sources; value, at £6 17s a fine ounce, £13,022; working costs, £5454} leav* ing a working profit of £7568. Develop* ment expenditure was £877 and capital expenditure £798. GOLDFIELDS MEETING The first ordinary general meeting of Goldfields Dredging Company, was held in Dunedin recently. Moving the adoption of the direo tors' report and balance-sheet, thd chairman, Mr. A. Burt, said some criticism had been heard regarding the directors' decision to proceed through the Gorge without dredging the small beaches en route, but it was not justified when regard was had to the risks involved and the gold won from testing operations carried out daily.

Several conferences had been held with the Queenstown Borough Council and the Lake County Council regarding the sale of surplus power, but the matter was in abeyance pending compliance with certain legal formalities and the decision of the ratepayers of those areas whether or not they wguld proceed with the formation of a power board. A motion increasing the directorate from five to six members was carried, the retiring directors, Messrs. E. H. Levido and A. E. Smith, being reelected, with Mr. George Thompson. REPORTS OF MANAGERS Saddle Mines (Coromandel). —Driving on No. 1 level has been continued a further 20ft. At 100 ft. a reef about 3in. in width was intersected. Where this reef was passed through no gold was visible in the stone, but showed up in panning. Additional timbering lias been necessary as a result of passing through a silica slide. King Solomon (Gore). —A lot of underground work has been done in different sections of the mine. Blocking out has been carried on in conjunction with the development of new areas. Development of tlio eastern area is opening up a largo mass of fair grade wash. This area is to the west of the old Winding Creek claim. To the north another lead of pay aHa wash is being prospected, and the results have proved satisfactory. The direction of the drives gives the idea that eventually they will connect and thus prove the existence of a large belt of wash in the east and north-east areas. Driving south has been started • and is difficult, being in fine quartz, with a flow of water from the face. The direction of the drive conforms to the western bank of the riverbed which flowed down toward Wendon. The drive will serve many purposes.