MINING NEWS

New Zealand Herald, Volume LXXI, Issue 21878, 14 August 1934, Page 5

MINING NEWS

YIELDS o|| COMPANIES Mataki (Murchisoii). —Last week, 340z. for 137 hours. Gillespie's Beach (South Westland).; —Last week, 320z. 3dwt. for 120 hours.Okarito (South Westland). —360z. 18dwt. for 122 hours. Talisman Dubbo (Karangahake).— 38 wet tons, equal to 31 dry tons, or ore were treated at the Golden Dawn battery for an actual realisation, on 85 per cent extraction, of £236. SURVEYS AT WAIHI [by telegkaph—ows correspondent] /WAIHI, Monday A preliminary investigation by geophysical methods of the Waihi and Waihi Grand Junction areas was started soma months ago, following an arrangement entered into with tho management of the Waihi Gold Mining Company, and Mr. W. M. Jones, of tho Department of Scientific and Industrial Research, is still engaged. The magnetic survey of this section of the field is now- well advanced. With the completion of the'survey, the object of which is to indicate the points at which further gold-bearing bodies of quartz may be found, seismic and possibly electrical investigation will follow. A special study of tho rock formations in the district is also being made by Messrs. L. I. Grange and E. O. Macpherson, of tho Government Geological Survey staff. Tho wliolo of tho present investigations are directed toward solution of tho question whether the area already worked comprises the whole of tho gold-bearing area of tho Waihi Comproperty or an extension of this, perhaps buried, exists. The investigations embrace both surface and underground workings, and the meeting of men with long practical experience of local conditions and men with scientific knowledge should provo of tho utmost importance in determining the position. When the surveys of the Waihi and Grand Junction holdings have been completed, other parts of tlio field, including an area held by an Auckland company, will be investigated by geophysical methods.

NEW SOUTH WALES GOLD The New South Wales gold production for the first six months of 1934 was 17,242 fine ounces, with a standard value of £73,24.1, and of £144,386 Australian currency. The figures represent a relativo increase over those of 1933, for the whole of which the production was 29,252 ounces, valued aij £124.254 standwd, and £225.683 Australian currency. Last year's output) was the highest since 1921.

MINING PROSPECTUSES An attempt is being made by the* Australian Instituto of Mining and Metallurgy to obtain the co-operation of tho Melbourne Stock Exchange in providing better protection for investors in mining proposals. Tho instituto has directed attention to the fact that mining promotions are often offered to tho public on reports compiled by unqualified persons. Jt contends that prospectuses should embrace reports by mining engineers or geologists who aro competent and of unquestioned probity. In Sydney the Minister of Justice recently announced that, among amendments to the Companies Act that will shortly be introduced in the Now South Wales Parliament, provision would bo made to ensure that those who issued mining prospectuses should accept responsibility for making any false reports, and that an attempt would be mail« to provide that reports by accredited engineers should be attached to prospectuses issued by mining, companies REPORTS OF MANAGERS Golconda (Thames). —We continued tho crosscut through the reef and havo , got what appears to be tho hangingwall. The reef is 17ft. wide at tho point crosscut. The hangingwall i* carrying pug which is characteristic of tho Cambria reef, and a band of very bright iron pyrites, about Sin. wide, is lying close to tho wall. This is the best mineral we have yet seen in tho mine and the indications look promising for making values. We continued to dfive ahead on the reef and aro vocring across so that we can follow the mineral band that is on t*e hangingwall. We advanced 6ft., total from _ shaft 172 ft. It will take about another 10ft. of driving to reach this mineral band. \