MINING NEWS

New Zealand Herald, Volume LXXII, Issue 22250, 26 October 1935, Page 9

MINING NEWS

MATAKI OPTIONS A report issued to shareholders of Mataki Gold Dredging, Limited (Murchison), states that a series of scout bores has been put down in the 15-acre block of Crown land fronting Ragg's Road, and the No. 2 area, which are held under option. Yafues have been computed at £-1 an cfunee. In the 15-acre block, 10 holes were sunk at five chain intervals. The best bore gave a test of 24.1 d a yard, and the poorest 2.59 d a yard, the average being 9.8 d a yard. In the No. 2 area, 18 holes were sunk at approximately 10 chain intervals, the intervals between the lines averaging live chains. The results were not so rich, the average value being 6.1 Id a yard, the .best bore showing 14d, and the poorest i'.Sd a yard. Analysis of the bores on the No. 1 area, which were put down as the dredge commenced operations, shows an average value of 3d a yard, and this area yielded an average weekly return of 320z. The average bore value on the 15-acre block and the No. 2 area combined, which will be dredged on the one face, is over 7d a yard, so-that the weekly return from these two areas should average 500z.' provided the same average yardage can be dredged' hourly. The estimated time for dredging these combined areas is three to four years, The dredge is now passing through Ragg's Road, which completes the No. 1 area, and should enter the No. 2 area during the next week or two. Returns have shown a steady improvement for the last three months, and it is expected this improvement will be maintained for some considerable time. YIELDS OF COMPANIES Talisman Dubbo (Karangahake).— Seventy tons of ore were treated at the Golden Dawn battery for an approximate realisation of £643. Solomon (Gore).—This week 760z. IGdwt. ARGO GOLD PROGRESS The first annual report of the Areo Gold Dredging Company, Limited, Blackball, states that the company holds mining titles lor dredging purposes over approximately J4O acres in Blackball Creek, and during the year a further 13 -ceres of freehold were purchased. The right has also been obtained to dredge a further 19 acres on the west side of the company's area. A modern dredge, capable of working to a depth of 35ft., and with a capacity of from 15.000 to 17,000 cubic yards "a week, has been completed. In the first clean-up after the dredge had reached bottom, 420z. were obtained for 92 hours' dredging, followed by 3Roz. from GOOO yards treated. Owing to a hard layer of wash overlaying the bottom, it was decided to change over from the spud to the headline system. Ihe accounts show a debit balance of £726. REPORTS OF MANAGERS Talisman Dubbo (Karangahake).—Talisman No. 2 level: The drive south advanced 40it.; total, 387 ft. It -was necessary to erect limbers for about 20{t„ and to avoid the collapsed ground the drive was directed more to the east on the hangmgwall side of the old stope. and it is now proceeding through firm country. The face now shows 2ft.. of quart 7. of low value at pre»ent on the west side of drive. Dilbbo level: The crosscut- at 720 ft. north was advanced 13ft., total 20ft., east of the main >north drive. A fissure Ifiiii. wide filled with clay mid containing a small amount of quarts was inl« vsecU-d at. 18ft. east, but further work will be necessary to determine whether this )s the fissure of the main lode. Dubbo level btopes: The Dubbo level stopes ar* in good order and values are very good.