MINING NEWS

New Zealand Herald, Volume LXXII, Issue 22004, 10 January 1935, Page 5

MINING NEWS

TRUST COMPANY DIVIDEND

A dividend of 12} per cent, payable on January 25, has been declared by Mining Trust, Limited, of Auckland. The dividend is the first paid by the company, which was registered a year ago. The company is engaged in financing mining ventures, and has an authorised capital of £IOO,OOO.

CHAPMAN'S FIND WORK Chapman's Find Company (Coromandel) reports that for throe weeks' work in December 7 tons ljcwt. of ore from the surface cut on No. 2 leader were treated for a return of 120z., and 71b. specimen stone yielded ]9oz., a total of 3loz. of melted gold. Since operations were started in June 77} tons of ore have been crushed for a return of 150oz. 14dwt., and 43}lb. of specimen stone treated for 48oz. 18dwt., making the total production of gold to the end of the year 1990z. 12dwt. The low level is advancing toward No. 2 leader and is expected to cut it at any time. Opening cut from this level on No. 1 leader has .revealed satisfactory values, a small trial crushing yielding over loz. to the ton. with the ore improving as the drive progresses.

REPORTS OF MANAGERS

Golden Dawn (Owharoa). —No. 3 level: Drive north from winze on No. 3 reef extended sft. The reef split into two branches; eastwall branch 2ft. 6in. wide; westwall branch 2ft. wide. Assay value £1 a ton. Drive north from winze on No. 1 reef extended 4ft., reef lain, wide; £8 2s Id a ton; drive south from winze on No. 1 reef extended 3ft., reef 18in. wide; £1 4s 3d a ton; drive north on No. 1 reef driven sft. from north, end of old stopes. The reef is still very small and the country, rock the same. Bottom intermediate level: Drive north on westwall branch off No. 1 reef north driven 3ft., 4ft. 6iu. wide; £6 17s 6d a ton; drive south on No. 1 reef from south end of Grey's old stopes driven 3ft. The reef here has opened out to sft. wide and looks very well. Assay value for 4ft. wide, £3 6s 8d a ton. Top intermediate level: Crosscut west off drive north on No. 1 reef driven 3ft. in country rock of good class for carrying i;eefs; on .new reef from crosscut west driven 2ft., reef 14in. wide; £1 13s 4d a ton. Farmer's level: Crosscut east has been cleaned out and re-timbered for 60ft. At this point*wo holed through a drive going north to be followed up. Surface level:. Crosscut east from west side of Bald spur driven sft. in good mineralised country. Stoping was continued on the No. 3 level and the top intermediate level.