MINING NEWS

New Zealand Herald, Volume LXXIII, Issue 22512, 1 September 1936, Page 7

MINING NEWS

ALEXANDER YEAR NET LOSS OF £1675 FUTURE PROSPECTS HEALTHY Alexander Mines, Limited (Rcefton), reports a net loss of £1675 for the year ended May 31, compared with profits of £4926 and £sl-49 in 1935 and 1934 respectively. No dividends could be paid for the year, but the directors expect that the dividend stage will again be reached in the current year. Total gold production for the year was £11,526, . against £24,U62. The report states: "The development of the ore body between No. 4 and No. 5 levels has recently shown a very marked improvement and this bears every appearance of being maintained as the ore body is more extensively developed. The full length of the reef toward the north has not yet been proved. The length of lode in No. 4 > intermediate level north has been proved for 100 ft., with reef of an average width of oft. of clean solid ore in the most northern face. This face will be extended on reef as required. The full length of the ore body in No. 5 level has yet to be proved. As reef is proved to the north in both these faces • then the ore reserves will be steadily increased. Generally, the future prospects of the mine are very healthy. "The results obtained from roasting concentrates recovered from the mill were fairly satisfactory when only tho coarse concentrates were treated. W hen the fine concentrates were roasted, results proved unsatisfactory, oh icily through dusting, and it was decided to close the furnace down. Due to some refractory mineral in the concentrates, returns were never as satistactor.v as was originally anticipated. A programme of research and experiment is being carried out. The mine manager reports that operations for the year were confined to the development and ore production from McVicar block only. Other development work proposed, notably driving No. 3 south level toward Bull block, has not been proceeded with owing to scarcity of labour. Reviewing work since the close of the financial year, the manager states: "No. 5 level was extended to 249 ft., 951't. of this distance being en stone from 3ft. to Oft. wide. A leading stope has been risen for and shows reef 10ft. in width of clean solid ore. A fair amount of fine gold can be seen in' the stone, A rise also has been connected with a winze sunk below No. 4 intermediate level and proves reef for a height of 81ft. The lode varies from 3ft. to 6ft. in width and is of fair value. These developments have opened up additional ore reserves of 3115 tons, tho amount being added to every day. No 5 level continues on reef. The mine generally looks exceptionally well. No. 5 level showing promise of producing a considerable quantity of ore." YIELDS OF COMPANIES Mataki (Murchison). —Last week, 240z. for 127 hours and 7400 yds. Golden Sands (West Coast). —21oz. 9dwt. for ]8 shifts. , Argo (West Coast). —640z. for 133 hours and 14,000vds. Maori Gullv (West Coast). —240z. sdwt. for 132 hours. Okarito (South Westland). —Last week, 18oz. lOdwt. for 130 hours. GOLDEN PROGRESS WORK Operations on the extension of the drive of the Golden Progress Quartz Mining Company (Otago) on the 150 ft. level have been commenced, and the level has been driven 100 ft. No reef formation has yet been encountered* and work has been continued throughout without interruption. ' LOLOMA ASSAYS The directors of Loloma (Fiji) Gold Mines N.L. have received assay plans showing the development work recently carried out at the 120 ft. level south drive below the adit workings on the property at Tavua (Fiji). Tho average assay value for 145 ft. by channel sampling the stake gave 131dwt. a ton, and by bulk or truck sampling 71dwt. a ton, as compared with 42£dwt. a ton from 427 ft. to 572 ft. from the main crosscut shown in fortnightly reports of y July 16 and July 30. The general manager advises that, in arriving at the reported values, he eliminated the very - high assays and made substantial provision for dilution in-- mining. The directors add that the average assay tvalue of the ore developed at this section of the workings compares favourably with values disclosed in the adit level. REPORTS OF MANAGERS Mount Lyell (Tasmania).—Fortnight ended August U>—North Mounf"Lyell: Tons extracted, Royal Tharsis: Tuns extracted !(>!>(>. West Lyell: Tons extracted. 14.842 Trince Lyell: Tons extracteji. 1737. Lyell Comstoc.k: Tons extracted, 3700. No. 7 level. No. 2 mullock pass rise to 65ft through low grade ore. No. 8 level, main crosscut, to 111 ft ihrough mineralised schist; main shaft sunk to 48ft below No. 8 level through porphyry Reduction works: Furnace in blast for full period. 10.50S tons refinery anodes produced for curreat year. Concentrator: Mill operated hours and treated 20,12-1 tons, producing 210-1 tons concentrates. Copper refinery: Tank house in operation throughout fortnight, 505 tons cathode copper being produced for period Total for current year. 11,5'50 tons. Big River (Reefton). —Week ended August 25 —No. 4 level souths No work has been carried out in the south stopo and rise owing to tiie shortage of miners. No. 1 level stooes, north end: Sloping has been carried on with two shifts. No. 1 level, centre stopes: One shift has been engaged breaking stone, also filling in stopes north and main rise. No. 5 lovei: Crosscut has been extended with one shift. The distance driven for the week was Ift tiin. A compressed air rock drill machine has now been installed here, and driving is being carried on with two thills. Battery commenced crushing day shift on August 24. Stone raised to tho surface for the week was tons.