MINING NEWS

New Zealand Herald, Volume LXXIII, Issue 22402, 24 April 1936, Page 11

MINING NEWS

MARTHA OPERATIONS 49300 Z. FROM 17,627 TONS [BY TELEGRAPH —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 April 11, comprising 20J crushing days, 17,627 tons of ore were crushed for a result of 4930 fine ounces of gold and 46,726 fine ounces of silver. This includes 2103 tons mined from the Grand Junction area, which yielded 503 fine ounces of gold and 2158 fine ounces of silver. No. 2 Level. —The drive west on the Bell reef, the next 30ft. assays 15s 9d a ton. The width of the lode is about 4ft. No. 6 Level. —North branch of the Martha lode; at 39ft. south in the Riley crosscut we have driven to the west on this 13ft. in ore of good grade about lift, wide and to the east 26ft. in ore of good grade about 2ft. wide. No. 12 Level. —Edward lode; the drive south on this lode has been resumed. Junction No. 7 Level. —Ulster lodo; driving west the next 22ft, assays 7s 3d a ton. The lode is about 2ift. wide. KING SOLOMON MEETING The accounts of King Solomon Deep Lead, Limited, details of which were published in the Herald on March 26, were adopted at the adjourned annual meeting at Gore. The chairman stated that production showed a slight increase over that of the previous year. He referred _to the representations made by the directors to the previous Government for the lifting of the export tax on gold of 12s 6d an ounce, or for the remission of the tax in the case of the King Solomon Company. During the last year more than £2OOO had been paid in export duty. The sum of £8231, equivalent to almost 50 per cent of the dividends paid, had been paid to the Government in export duty since it had come into operation. Had this money been available for developmental work* it would have been of considerable assistance. To a question by a shareholder, the chairman said there had been no further, developments in connection ?rith the overseas offer to the company. Personally, he had never been very sanguine about the offer. NEW RIVER DREDGE The fleet of dredges on the West Coast will be added to in the next few days by the completion of the machine under construction for the New River Company. The dredge ic one of the most modern type, driven by a 140 h.p. Allen Diesel engine. The bucket line has an estimated digging capacity of 12,000 yards weekly. The claim is situated at New River, Dunganville, about 20 miles from Grevmouth, and comprises some 300 acres; the dredge is estimated to require about 10 years' to work the claim out. Mr. D. Smith, of Christchureh, and formerly dredgemaster in Central Otago, has been api pointed dredgemaster.