LATEST RETURNS

Evening Post, Volume CXV, Issue 149, 27 June 1933, Page 10

LATEST RETURNS

(By Telegraph.) (Special to the "Evening Post.") DUNEDIN, This Day. The Bell Kilgour Gold Mining Co. has exercised its option over the mine at Cromwell Flat on the Kawarau River, taking possession from Bell and Kilgour on Saturday afternoon. The original owners in the iin.il wash-up for the week secured flOoz. The drive of the mine will now be .widened, and extensive timbering done before any further actual development work is undertaken. Last week the Okarito Gold Dredging Co. washed-up 920z, 14dwt. The report for the previous four weeks states that the total gold won was 5170z 3dwt;. total time worked, 492 hours; total non-working time, S4 hours; total yardage treated, 33.200; average of 67 cubic yards per hour. Average value of the ground (on the basis of gold worth £4 per oz) is lod per cubic yard.

Mahakipawa Goldfields, Ltd., reports a wash-up for last week of 250z. ■ Bell Hooper mine manager reports a return of 30oz 3dwt for the week ending June 23. During the period one face of wash only was worked, the remainder .of the men being employed on development work, -which is proceeding' satisfactorily, on good wash of a very even nature, Irisufiieent timber has caused some delay, but further supplies have been contracted for ami are now arriving from the Catling and Makarora. An additional six . men. will start work on the claim today. The Bell Hill sluicing return is reported by the mine manager to be 63V40z of gold for 91 hours' sluicing. NOKOMAI. Nokomai engineer (Mr. G.-W. Thomson) reports having returned from a visit to Nokomai, where he made a close inspection of the plant, states the "Otago Daily Times." Some unforeseen difficulties had been overcome, and the plant is now running smoothly and giving satisfaction. Owing .to abnormal flood?, the seepage presented some difficulty, but the pumps are sow successfully" coping with. this. Unfortunately, on the old paddock being dewatered, it was found to contain six feet of silt, and1 this considerably hampered digging operations and caused unavoidable delay. However, this has now been removed, arid will be non-recurring. Up to one-third of an acre has been excavated to within six feet of the bottom, and two cuts made right to the bottom, laying bare approximately 1200 square feet of floor, thus proving , conclusively the capability of the machine' to dig the very hardest wash. Operations will be concentrated on removing the balance of this sis feet. The whole floor will be cleaned up, and a wash-up announced. It is this bottom layer to be cleaned with the nozzle that contains practically the whole of the gold. When this work is completed, the claim may be said to be fully opened out. The excavator'will then be working on a face from top to bottom, and periodical returns will be reprted. MOUNT MORGAN OUTPUT. Mount Morgan, Ltd., production for the four weeks ended June 14 is shown below, together with that for the May period:— ■ . ■ - ■ Four weeks endedMay 17. June 14. Concentrating ore,, tons .. 0,917 .' 8,851 Concentrator treated, tons . 7,050 8.140 Concentrates produced, tons 328 34i> Estimated contents — Gold, oz - 1,888 ■ 1,915 Copper, tons 40 46 £A £A Cross value'1 14,685 15,127 . Operating costsj ....... 11,003 , .12,389 Estimated net .profit 3,082 2,738 •Gold at £7 Australian'per oz, 'copper at £37 Australian per ton. ■(■lncluding development, reconditioning or plant, realisation, and overhead expense's. ■ The results for the latest period were obtained from ore with an average head value of (i.7sdwt gold and .67 per cent, copper/ The surveyed average head value of the 064,000 tons above the Linda level is 6.52dwt gold and .91 per' cent, copper. BROKEN HILL. B.H. Proprietary Co., Ltd., reports on its goidraining operations for the weoks ended June 11:—Normal development and stopiug operations resumed at Hannah's North mine, Kalgoorlie. Satisfactory progress mado with crosscutting and diamond drilling on Enterprise leases. Testing operations continued on Mncquarie Kiver (New South Wales), alluvial area, but results'obtained on Gwydir River area were disappointing, and option was abandoned. BULOLO GOLD DREDGING. In his address at the annual meeting of the Oroville Dredging Co., Ltd., in London "recently* the chairman of directors (Mr. F. W. Baker), referring to Bulolo Gold Dredging, Ltd., New Guinea, in which his company holds an interest^ said that when the four dredges were in operation they' should handle approximately 10,000,000 cubic yards yearly, at an annual profit of £500,000 to £600,000, over a life period of 11 to 13 years, The profit was after allowing for amortisation on the capital, which would be 1,000,000 shares. Mr. W. A. Freeman, chairman of directors of Bulolo Gold Dredging, Ltd., informed the meeting that the third dredge would commence about next September and the fourth dredge about the middle of next year. The total working profit up to April 1 was about 900,000 gold dollars, and the company had 100,000,000 yards of proved ground ahead. Mr. Freeman added that Bulolo was easily the lowest-cost producer of an ounce of gold in the world at present.