MINING NEWS

New Zealand Herald, Volume LXXIII, Issue 22404, 28 April 1936, Page 7

MINING NEWS

WATMUMU SLUICING LOSS ON THE YEAR A loss of £65 is shown by the accounts of the Waimuniu Sluicing Company, Limited (Gore), for the year ended March 31. Sluicing was carried out from April to October. The ground worked showed good values, and gold totalling 2480z. 4grs. was secured, valued at £I9OO. The sum of £132 was written off as plant depreciation. The directors have rebated £7O of the £l5O voted for directors' fees. Had the anomalous gold export tax not been imposed, states the report, the accounts would have shown a much better position. Tax paid totalled £230, considerably more than the company's loss on working. The report states:—lt is most unfair that a company which is making no profits should be taxed for this sum. In October the abnormally dry weather experienced caused the Waimumu Stream to fall to such a low level that operations had to be suspended, and it was impossible to make a fresh start until the third week in March. Work is now proceeding steadily. The company has been most unfortunate in experiencing two exceptionally dry seasons in its first two years of active life. In each case the spring and early summer droughts have been such that even when ram fell early in the new year it was quickly absorbed by the parched earth. Obviously six months' work in a year is not sufficient, and the directors have given much thought to the problem of improving matters. Apjirt from the water difficulty, it has become apparent that the present method of elevating is too slow, and the cost of pumping the water is too heavy. It has been represented to the board" that a gravel pump would require less water and would be more efficient. Expert advice was obtained in this, connection, and a quotation secured for the supply and installation of an Sin. pump, with the necessary electric motor. The matter has not yet been dealt with finally, and other proposals are under consideration. The company has sufficient funds to purchase the plant, but the board is reluctant to authorise any heavy capital expenditure until it can be shown that it is really advisable. It has been decided to leave the final decision until after the annual meeting and the election of directors. YIELDS OF COMPANIES Okarito (South Westland). —lloz. 18dwt. for 126 hours. Mataki (Murchfson). —Week ended ended April 26, 240z. for 4J days' work. Mataki Junction (Murchison). — lOloz. from 18,500yd5., for 116 hours. OPOTIKI APPLICATION [by xelegkaph OWN correspondent] OPOTIKI, Monday A unique application for the Opotiki district .has been set down for hearing at the sitting of the Native Land Court which commences at Opotiki on May 6. The application is for the issue of a licence for prospecting for gold on the Opape No. 8 Block, about 10 miles from Opotiki. NEW BROKEN HILL VENTURE The Broken Hill Proprietary Company, Limited, which has been systematically boring a large alluvial deposit on the Macquarie River, near Wellington, New South Wales, since 1932, has formed a company with a nominal capital of £250,000 in shares of 2s each to work the area by drpdging. At the annual meeting of the Broken Hill Proprietary Company in August last the chairman, Mr. H. G. Darling, said a company would be formed to work the area, and shareholders would be given an opportunity of participating in the flotation. The name of the company formed to work the property is Wellington Allu« vials Limited. A dredge capable of treating 1,000,000 cubic yards a month will be put into operation. GOLDEN DAWN RETURN Golden Dawn Gold Mines, Limited (Owharoa) reports for the 20 2-3 working days ended April 13, 738 tons of ore were treated for a return of £3273, realisation at £7 2s a gold ounce. REPORTS OF MANAGERS Golden Dawn (Owharoa), for fortnight ended April 18.—No. level: Crosscut west off drive north on No. 1 reef has been driven 23ft, total 420 ft. The country rock is much firmer. The 4in mineral seam _is still carrying on. The drive south on No. 1 reef wns driven 6ft. The reef averages lOin, value £7 3s 2d a ton. The drive south on Eastwall branch of No. 3 reef wns driven 9ft, total 192 ft, and averages 12in, value £2 4s Sd a ton. The crosscut west off the drive south on No. 1 reef was driven 7ft. Wc cut the Westwall branch reef at 16ft in and have driven south on it 10ft. The reef averages 12in, value £2- a ton. The rise on No. 1 reef from first crosscut east was risen 9ft. average lOin wide, value 9s 7d a ton. On the bottom intermediate level the crosscut west on the reef formation was driven lift. The formation is pinched at present, but the class of country is still good. • The drive north on the branch reef was driven 14ft, average 14in wide, value £1 19s lOd a ton. A crosscut west, from this face has been driven 14ft, total 14ft to cut No. 2 reef. Stoping.—No. 3 level: On the Magazine Reef, north of the main shaft. lOin wide, last assay £ll 7s a ton: on Eastwall branch reef, south of crosscut, 12in wide, last assay £ll 15s Id a ton. Bottom intermediate level: On No. 1 reef south 2ft Gin wide, value 12s 8d a ton; on Eastwall branch of No. 3 reef, reef averages 2ft wide,' last assay £2 9s a ton: on 'Westwall branch reef, the reef averages 4ft wide, last assay £ls 7s 7d a ton.

Dawn Of Hope (Thames).—The stripes betweon No._ 1 and 2 winzes continue to produce fnir grade ore. The winze on the iref below the floor of the level has been stopped owing to much water having been met with. Stoping lins again been resumed 011 the specimen lender. Mataki (Murchlson). —During the week ended April 19. the dredge worked for 132 hours on a face of •130 ft, on nn average depth of 15ft, pulling ahead 17ft_ in the h<ink and 30ft in the river. Dredging conditions remain much the same and we are still taking bottoms. Talisman Dubbo (Karaneahnke).—Period ended April IP. Talisman No. 2 level: The drive sou*n advanced 18ft.. total Colft. The lode tormntion is from 18in. to 27in. in width and consists of clay and rubble. On the west wall a vein of quartz varying from Sin. to Gin. in width is of low value. Timbering is necessary as the drive advances south. The west or hanginsrwall country is solid and well defined. Talisman No 1 level: Stoping—ln the stopes from 120 ft. south to 155 ft south the reef has become narrow and irregular in width. Assays over widths from sm. to 12in. of fair values. Dubbo level: The rise at 440 ft. north was put up 21ft., making a total of sGft. above the level. Tlio stopes to which this rise will connect at 135f*. above the level continue to exposo good ore 20in. to 30in. in width. At present the rise is following rubbly lode formation. Stoping: For week ended April 4: Ore broken in these stopes gave thei following nssay results22sft. to 335 ft. north. ;>sin. of good value. At 340 ft. north, lOoz. gold, 18oz. silver, for width of 30in. of very good values. From 340 ft. to 3f>oft. north. 3Gin. of very good value. For week ending April 9—From 260 ft, to 385 ft. north, average width 26in. ( average value very cool. Mount Lyell (Tasmania).—Fortnight ended April 15—North Mount Lyell: Tons extracted, 5136. Royal Tharsis: Tons extracted, 2533. "West Lyell: Tons extracted. 13.R57. Lyell Conistock: Tons extracted. 3527. No. 4 level, No. 2 mullock pass drive, east end to 84ft, and west end to 100 ft. progress through filling. No. 3 level, cutting the plats is in progress. Reduction works: Furnace in blast throughout period: 5913 tons refinery anodes made during current year. Concentrator: Mill operated 336 hours and treated 24.953 tons ore. producing 1746 tons concentrates Copper refinery: Tank house in operation throughout fortnight. 419 tons cathode copper being produced for period. Total for current year, 6991 tons. General: Supply of power from the Hydro-Electric Commission now discontinued.