New Guinea Goldfields
p. 36 · Read in the full issue
Limited.
The following progress report for the month of March has been issued by the Mining Trust, Ltd., consulting engineers for the Company:—
Development.
Location 3. —A crosscut from No. 1 shaft reached the vein as expected at 135 feet, but the men were driven out by water before the ore could be sampled. It is expected to un water the workings by the end of April.
Location 8. —No. 4 shaft was sunk 16 feet to 413 feet. No. 3 level. Drift was advanced 95 feet in ore, averaging 7.5 dwts. gold and 12 ozs. silver over a width of 20 inches.
Production.
The estimated profit for February from alluvial work was £6,680. The production for March was 2,040 ozs. bullion.
New Areas. —The first preliminary drill hole was stopped at 37 feet without reaching bedrock, and the second hole has been started, but results to date are negative.
Mill. —The estimated profit for February was £4,690. The output for March was 1,399 ozs. fine gold. It is expected that four new tanks will be put into commission during August.