Bulolo Dredges

Production of the Nos. 1,2, and 3 dredges of the Bulolo Gold Dredging, Ltd. (New Guinea) for January compares with that of the previous periods as follows: —

No. 1 dredge was closed down for 12 days for equipping with pontoons.

The deep drilling on the original Bulolo area has increased the width of payable deep gravel to 1600 feet. The average depth of payable values across that width appears to be about 60 feet, and the lower gravels average about 30 cents with gold at 35 dollars per ounce. Drilling will now be con tinued upstream and then downstream to discover the extent of these lower gravels.

New Guinea Goldfields, Ltd.

The monthly returns of production and estimated profits of New Guinea Goldfields, Ltd., are as follows

Development: Location 3, west drive on No. 3 level advanced 55ft. in ore averaging 24.9dwt. gold and 20.50 z. silver, over width 28 inches.

Period ended.

Nov. 30.

No. 1 and 2 dredges— Dec. 31 Jan. 31.

Cubic yards 400,200 410,800 380,000 Bullion, oz 10,202 10,076 10,304 Gold fine oz. . 6,764 6,680 6,832

Value-

Aust. Currency . *£50,730 *£50,100 t £58,072 Per cubic yard /30.42 /29.27 /36.67 Working Profit .. £A38,220 £A37,620 £A45,458 No. 3 dredge— Cubic yards 82,000 141,000 251,200 Gold, fine oz. . 670 405 1,621 * At £A7/10/ per fine ounce, t At £A8/107 per fine ounce.

Bullion, oz. — Nov.

Dec.

Jan.

Alluvial 1,857 2,412 1,644 Mill 1,833 1,900 1,941 Estimated profit— Oct.

Nov.

Dec.

Alluvial £5,400 .. £4,816 .. £7,200 Mill 7,280 .. 10,563 .. 11,500