MINING NEWS

New Zealand Herald, Volume LXXIII, Issue 22355, 28 February 1936, Page 7

MINING NEWS

MARTHA OPERATIONS \ • 41650 Z. FROM 17,798 TONS [by telegbaph—own correspondent] WAIHI, Thursday The following information has been cabled to the London office of the Martha Gold Mining Company (Waihi), Limited: —For the period ended February 15, comprising 21 crushing days, 17,798 tons of ore were crushed for a result of 4165 fine ounces of gold and 22,678 fine ounces of silver. This includes 2023 tons mined from the Gra,nd Junction area, which yielded 573 ounces of gold and 2203 ounces of silver. Crushing time was reduced by one day owing to a severe flood. : No. 2 level.—The north-west prospecting crosscut has been stopped. [ No. 7 level. —At 12Sft. in the Payne north-west crosscut intersected quart* 1 9in. wide, assaying 14s 3d a ton. Have ; driven to the west on this 12ft., assay ' value 24s 9d a ton. The width of the vein is about 6in. Junction. —No. 7 level: The south crosscut from the Empire lode is suspended. At 72ft. in, we drove to the east 35ft. and to the west 6ft. on some small leaders. This work is also stopped. * i ' 5 YIELDS OF "COMPANIES f Waitahu (West Coast). —A further ' partial wash-up from the No. 5 pad- * dock yielded 320z. odwt. The previous' » wasn-up was on January 31. Since then > the elevator has been in operation for 22 shifts of eight hours each. A total of • 150oz. has been recovered since November 29, 1935. Golden Dawn (Owharoa). —For 23J working days ended February 17, 794 tons were treated' for £4153 at £7 2s a gold ounce. 2 OPTION OVER NOKOMAI 5 [by telegraph OWN correspondent] DUXEDIN, Thursday At a meeting of the Nokomai Gold Mining Company, Limited, it was decided to grant an option over the company's claim for six months to Burma Malay Tin, Limited. The price at which the company, if it exercises the option, will purchase is £BO,OOO, of which £40,000 shall be in cash and £40,000 by the issue to the Nokomai company of £40,000 worth of fully-paid shares in 7 the new company, which it is proposed to form with a capital not exceeding . £250,000. The consideration for the granting of the option is £IOO a month, s Conditions were made that the new . company instal a dredge worth at least 3 £IOO,OOO and that it has a working , capital of not less than £SOOO. The , directors reported that the sale of the property tp Nokomai Gold Dredging. - Limited, London, and others, had been , cancelled 3 ' i It was reported last year that Noko--1 mai Gold Dredging, Limited, had been floated in London with a capital of £450,000 to take up an option over the Nokomai property. II FIJI OPERATIONS jj Aloha Central.—There is a labour short- * age following the tribal fight among the '• natiws. No. 5 tunnel has been extended •? to 82ft., and No. Ga shaft to 29ft., in low values. Instructions have -been given to J" suspend underground work and concentrate on trenching across the creek. No. 6 bore [• has been extended to 140 ft: From 44ft. •" to 65ft. the lode assayed traces. e .;. •—■ —- v : > . REPORTS OF MANAGERS . Golden Dawn (Owharoa). fortnight ended . February 22 —No 3 level: crosscuts west ; off drive north No. 1 reef driven Isft. in firm country. Drive south on westwall 2 branch reef driven 4ft.: total. 119 ft.; value. £5 0s Gel a ton. Drive south eastwall t branch of No. 3 reef, driven Oft.. total." r lsiift,; 2ft. wide: value. 7s fed a ton. 1 Bottom intermediate level: Drive south on No. 1 reef driven 3ft.. total. 403 ft.: 2ft. '■ wide; value, il 9s Id a toil. *on westwall branch reef d "\ en n ij' • ! n wide value i 4 17s t>d a P. '• on reef formation og weatwa l br |i lc^ 7 ru i ! j . driven 4ft.; 18in. ™de; value, £4 j;; k a ton. Stoping was co ? u £ 8 and bottom intermedial leve *