New Guinea Goldfields, Ltd.

THE following progress report for the month of February has been issued by The Mining Trust, Ltd., consulting engineers for New Guinea Goldfields, Ltd.

At location 3, a crosscut from No. 1 shaft was advanced 57ft. to 107 ft. At

location 8, No. 4 shaft was sunk 6ft. to 397 ft. The delay was due to compressor breakdown. The west drift at No. 3 level was advanced 80ft. in ore, averaging 13.4 dwts. gold and 10ozs. silver over a width of 33 inches.

The estimated profit for January from alluvial work was £6319. The produc tion for February was 2314ozs. bullion.

Pending the arrival of the consulting engineer, arrangements have been made tor preliminary scout drilling of the new dredging areas by the mine staff, and a drill has already been transported to the property.

The estimated profit of the mill for January was £6000. The output for February was 960ozs. fine gold.