MINING.

Otago Daily Times, Issue 21054, 17 June 1930, Page 13

MINING.

r OKARITO FIVE-MILE iBEACH. .. ' .The half-yearly report of the directors l he Okarito Five-mile Beach Gold Alining Company states:— During the greater part of last year, the abnormally wet weather and adverse seas greatly hampered transport and the general progress of work on the claim. When the annual report was issued to shareholders the pipes for the pipe line were spread from Okarito township to the claim. Since the beginning of the year, weather coikHtions generally have been to progress and every advantage of this has been taken by the engineer (Mr R. X. Stewart) and his stan, both in laying the pipe line and in preparing for building the dredge. The work of bringing the ■ water on to the claim has been an arduous one. It has entailed, the construction of over a mile of corduroy track, the building of three bridges, several chains of oyer the lagoon, and the man-handling of many of the pipes including all v those at , the Lake Alpine end of the line. In addition to this, much work had to be none in constructing the penstock at the outlet of Lake Alpine. The satisfactory progress during the last five months emphasises the delays caused by. the prolunged spell of bad weather last year. On receipt of advice of the completion of the pipe line and the start of elevating operations, three directors visited the •maim.; arriving. there on May 25. It was found that a paddock had been opened up; the piimp being sunk on the site of bore No. 7, which had given a negative result _ when the claim was ■ prospected. This site had been chosen as it was alongside the site on which the dredge' is being constructed. It is intended to launch the dredge pontoon into this paddock. . The paddock is being worked in the direction of, and will include, bores Nos, 5 and 6 both of which showed satisfactory returns. i The material from the paddock was being passed over temporary boxes provided with, ripples and matting. These had been washed up the previous day and gave a retjirn of 21oz of. gold , for 105 hours’ work—a result which the .directors: consider. highly satisfactory. . Since then, Mr Stewart has completed his permanent boxes which provide a large area of > efficient gold. saving tables and all material is now being passed over these. An electric light plant has been installed and elevating operations are being carried’ on fob 24 hours each- day. The present’ paddock will be finished by the end of June, and a satisfactory return is anticipated. Though it_ is, intended that elevating operations will be carried on continuously until the dredge is ready for operation, this will in no way interfere with the construction of the dredge. The erection of 'the pontoons has begn commenced, and a plentiful supply of r timber being on hand, a shed is Ireing erected so that wet weather will not interfere with the work, which will be pushed on as fast as possible. r

No concern need be' felt as to water supply. Elevating, operations require double the water necessary to work the dredge. In spite of the dry weather experienced, it is satisfactory to report that the level of Lake Alpine shows a rise. The present penstock provides five feet .’six inclids . storage, , but i.t. is. intended to raise this to 10’ feet,. thus’.■ doubling the storage. . ; ‘ ,v.’' ’ .. After four "days spent On' the claim,’ the directors returned to Dunedin with' a feeling of entire .satisfaction with the position. Many difficulties, not anticipated, have been met and overcome. The success of the company depends almost entirely on the values contained in the ground. Elevating operations have not yet proceeded far enough for any definite statement in this. direction .to be ■ made, but as far as they have gone, they indicate that the ground is quite up to the valuation given , in the prospectus. . The balance she.et of; the, .company, at - March 31; 1930, shows ' that the total amount’ of available capital to complete the .building of the :dredge "was -£3891. bince March 31, ’ this figure has been reduced to approximately £2400 after allowing for the payment of the final call on the contributing shares. As practically all the timber and other materials for the construction of the pontoons have already been obtained, and the dredge machinery, with the exception of/some of the heavier parts, is ready for at the-site where the pontoons are being built, the future expenditure necessary to complete the-dredge will be almost entirely, for labour. For, this purpose the above sum should be adequate, especially when the company is uow producing revenue which it is expected will amount to a substantial figure during the period in which the dredge is under construction. . MOTUROA OILFIELDS, LTD. (Per United Rress Association.) ■ NEW PLYMOUTH. June 10. • The latest report of the. Moturoa Oilfields, Ltd.*- states:—Well to a depth of .1200 feet in grey’/shale, 10-inch i casing to 1270 feet; : •