MINING NEWS

New Zealand Herald, Volume LXXIII, Issue 22475, 20 July 1936, Page 5

MINING NEWS

WEST COAST VENTURE Paroa Gold, Limited, a company formed to mine an area at Paroa, near Greymouth, , has been registered, and the first allotment of shares was mado last'week. The capital is £12.000, in Is shares. It is proposed to Avork the area by means of gravel pumps, a method which has been adopted at Macrea's Flat, in Central Otago. The promoting company is New Zealand Mining Investments, Limited, which organisation has subscribed for £IOOO worth of the contributing issue. The prospectus states that the area to be worked is calculated to provide operations for up to ten years. Forty-four prospecting bores were put down on the 84 acres comprising the area, the average values revealed being Is 4Jd a yard, with gold at £6 an ounce. YIELDS OF COMPANIES Maori Gully (West Coast). —Last week, 340z. 7d\vt. for 135 hours. Golden Sands (West Coast). —31oz. 14d\vt. for 272 hours. Gillespie's Beach (South Westland). —1630z. for 194 hours. Argo (West Coast). —Last week, 760■/,. for 121 hours and 12.000 yards. Mossy Creek (West Coast).—Last week, 660z. ldwt. for 136 hours and 13,174 yards. REPORTS OF MANAGERS Golden Dawn (Owharoa). —Fortnight ended July ll; No. 3 level—Crosscut west off drive north on No. 1 reef driven 22ft. Drive south on west wall branch reef driven 3ft. Reef averages Sin. wide, value £2 lis lOd a ton Drive north on reef going into westwall off No. 1 reef driven 28ft. Reef averages ISin. wide, value £3 8s lid a ton. Rise on No. 1 reef south of mine shaft risen »ft.. averages 2ft. wide, value ,lt>s 3d a ton. Bottom intermediate level—No. 2 crosscut ve«t off drive south on No. 1 reef driven 35ft. at 25ft. in a reef Sin. wide was cut, of low value. Stoping—No. 3 level: On the westwall branch reef south averages 1-tin. wide value £4 3s Gd a ton. On eastwall branch reef south, reef averages lOin. wide, value £4 17s 2d a ton. Bottom intermediate level: On No. 1 reef south averages 2ft. (Jin wide, valuo 8s 2d a ton. On eastwall branch of No. 3 reef south averages 18in. wide value .€3 (is Sd a ton. On westwall branch reef, reef averages 141n„ value £4 10s 5d a ton. On westwall branch reef north, reef averages 3ft. wide, value £7 Gs Od a ton. On westwall branch reef south blook, reef averages 2ft-, value £2 'lßs Id a ton. On tho reef formation in crosscut west has been carried along for 30ft. in length. Tho formation so far averages ISin. wide, valuo I'B 10s lid a ton. Waltahu (West Coast).—Elevating operations on No. 5 paddock were completed on March 30, and the elevator was erected on No. (> paddock on April 3, the paddock being completed on June 3. The number of shifts lost through shortage of water 20Vi. and the number of shifts worked 130Vj. The gold won from elevating operations on No. (i paddock was IGGoz. Bdwt... of a value at C 7 10s per ounce of £l2-18. The values recovered from No. O paddock were as folio^. —Average value per cubic yard elevated <>% d; average value over-all. 3y 2 d; average value of bottom (sft. of wash, 3s Sd The water supply between April 3 and June ■j w -as very poor, only sufficient- water beina? a-ailable 'for elevating operations Constqucntly the stripping* of No. 7 paddock could | not be carried out at the same time.