New Guinea Gold,

THE following progress report for No vember has been issued by the Min ing Trust Ltd., consulting engineers for New Guinea Goldfields, Ltd.: Location 3.—No. 1 shaft was sunk 67 feet to a total of 175 feet below No. 1 level.

Location 8.- —No. 4 shaft was sunk 33 ft. to a total of 379 ft., cutting station at 373 ft. From 340 ft. to 375 ft. samples of the vein in the shaft assayed 9.6 dwts. gold, and 5.7 ozs. silver over an average width of 47 inches.

The alluvial output for the month was 3.278 ozs. of bullion. The estimated profit for the month of October was £9,769 Australian currency.

Tlie following progress report for December was issued by The Mining Trust Ltd., consulting engineers for New Guinea Goldfields Ltd.:

Development.

Location 3. No. 1 shaft was sunk 40ft. to 215 ft. below No. 1 level. Cutting station at 200ft.

Location 8. No. 4 shaft. Cutting station at 373 ft. and installing pumps.

Production.

The estimated profit for November from alluvial working was £11,000 Australian currency.

In December, floods at Edie Creek damaged elevators and sluices, and the output for the month was only 1,500 ozs. bullion.

The first clean-up from the mill test charges yielded 1,774 ozs. bullion containing 1,157 ozs. tine gold and 449 ozs. fine silver, of a value of about £9,100 Australian currency. The latest re ports show a great improvement in the metal lurgical results.

Bulolo G.D. Yield.

The total yield for the period ended January 1 for Dredges Nos. 1 and 2 amounted to 8,496 ozs. of bullion from 422,500 cubic yards, of an approximate value of 114,696 gold dollars.

Working costs to date, excluding royalty, average under six gold cents per yard.