MINING NEWS

New Zealand Herald, Volume LXXIII, Issue 22437, 5 June 1936, Page 7

MINING NEWS

MARTHA OPERATIONS [by telegraph —OWN correspondent] WAIHI. Thursday Tlio following information has, boon rablcd to the London office of the Martha Gold Mining Company (Waihi), Limited: — . . No. 2 Level—Bell reef: Driving west of the Hooper crosscut, the next 47ft. assays 6s a ton. The lode is about 3ft. wide. ... , No. 5 Level. —North branch, Martha lode: In the rise commenced at. 15ft. west of the 800 ft. west crosscut the first 50ft. is ore of good grade about. 2Aft. wide. *No. 6 Level. —North branch, Martha lode: Driving east of Giddens south crosscut, the next 47ft. is ore of good grade, about Ift. wide. No. 7 Level. —North-west crosscut from north branch, Martha lode: The formation at 240 ft. in of the last 3ft. is of little or no value. The crosscut is now in 300 ft. in blue with oxidised joints.

BLACKWATER DIVIDENDS

INCREASE IN THE RATE

Blackwnter Mines, Limited, Reefton and London, has declared a final dividend for 1935 of 2s a share, making 3s a share, equal to 15 per cent, for the year. This compares with 10 per Cent paid for 1934 and 12J per cent for the previous two years. Consolidated Goldfields, Limited, the holding company, announces an interim dividend for 1936 of Is a share, or at the rate of 50 per cent per annum, against 25 per cent paid last- year. Both dividends are payable in British currency, tax free, on June 23. YIELDS OF COMPANIES Bundi (West Coast).—l4soz. for 267 hours and 64.500 yards. Moonlight Goldfields (West Coast). —s2oz. 3dwt. for 286 hours. REPORTS OF MANAGERS Mataki (Murchison). Last week the dredge worked on a face of 495 ft. pulline ahead 34ft in an average depth of 15ft. The ground is showing a slight improvement as included in this week's,yardage is at least 1000 yards of pug. Although we are tailing right in the current, we cannot rise the water more than a few inches. All machinery i« running well.