MINING NEWS

Evening Post, Volume CXVII, Issue 22, 26 January 1934, Page 10

MINING NEWS

COLLINGWOOD PROSPECTS

The directors of Mining Research Company, Limited, recently considered, reports from engineers who had inspected the company's properties at Golden Gully, Collingwood. The engineers were Messrs. H. S. Burleigh, H. Vickerman (Vickerman and Lancaster), J. Henderson, and G. M. Powell (Westport). As all these reports were considered to be highly satisfactory," it was decided that an operating company should be formed for the purpose of sluicing all suitable ground and'boring an area of approximately 500 acres at the mouth of the Parapara Inlet, which is particularly well suited for dredging. It was reported by the directors that the areas which, the company holds were particularly well reported on by the late Sir JamC3 Hector (director of the Government Survey), and tests which he made disclosed astoundingly high values. From the information contained 'in the engineers' reports, above referred to, a conservative estimate of the value,of the wash-dirt would be Is per yard, with operating costs estimated not to exceed 2d per yard. Samples taken by Sir James Hector numbered 27 (three of which were bulk tests of 100 yards or more). They disclosed the fact that 16s 6d per yard was obtained. These figures are confirmed by Mr. Burleigh' tests, which from 18 samples averaged 19s 9d per yard. Mr. G. M. Powell (Westport) spent a considerable time on the property, and considers the values particularly good, and that the water supply and pressure are ideal. A NEW COMPANY. Mining Investment Corporation, Ltd., Wellington, has been registered. Capital: £100,000, into 2,000,000 shares of Is each. Subscribers: Wellington—W. S. Wilson, J. J. Garbett, A. H. Kimbell, C. W. Salmon, N. J. Webster, L. V. Ellis, F, W. Motlies, 1 share each. Objects: To undertake the business of an investment company in the shares and securities of companies formed for the purpose of mining for gold, silver, or other metal and general incidental. AMALGAMATED KAWARAU. Amalgamated Kawarau Goldmining Company has increased its capital from £150,000 to £250,000 by the issue of ordinary shares of Is. BRIAN BORU LISTED. Brian Boru Gold Dredging Company is now listed on the New Zealand Stock Exchanges. , Authorised and issued capital is £27,000, in ordinary shares of Is each. Head office, Greymouth. NEW CORNISH POINT. A report received from New Cornish Point manager, dated January 20, states: -r-Por^ the last fortnight contractors nave advanced incline drive -27ft, making a total distance of '45ft from starting point (No, 1 chain peg), 18ft being open cut formerly excavated on wages. The country driving consists of loose fine shingle for about 4ft on the top portion of the drive. The lower part is more solid, rising as drive advances, and from indi-cations-it would appear that shortly .there j would be .a. full-face in solid country! Contractors are working two shifts. Considering the nature of the country fair progress has been made, and when the shinglq in the top cuts out better progress can be expected. NOKOMAI. The secretary of Nqkomai Gold Mining Company, Ltd., reports a further wash-up of 540z Bdwt from the paddock being worked. This, with 2550z 7dwt, makes a total of 3090z lSdvrt to. date. It was anticipated that the whole paddock would be cleaned up by last Saturday, but owing to a break in No. 2 race, supplying water to the electrical generating plant, this was 1 not possible.. The break has already been made good, and the cleaning "up of the bottom should be completed this week. WETHERSTONES. Industries, Ltd., report on work at Wetherstones Gold Mining Company's claim to the that inclined shaft is to be extended from present face at 923 ft for a further 650 ft, or a total of 1580 ft approximately. The borehole from which values were obtained at-the conglomerate schist contact .will,, however, be intercepted at 1230 ft approximately, at which I point further development work will be done. The crosscut at the 850 ft horizon has been extended to 180 ft, and from the change in the conglomerate the cutting of the contact is anticipated shortly. Preparations are in course for continuing vertical shaft. The hoist and gear have been delivered and erected, This shaft is 35ft deep, and it is to be extended to about ,'ssoft, where: connection will be made with incline shaft., The work of this vertical' shaft will be watched with the closest attention, as it, will give a complete cross section of the conglomerate strata and valuable information will be obtained as to the distribution o£ values.