Pacific Mining Notes
p. 67 · Read in the full issue
Enterprise Of N. Guinea
In a progress report to shareholders of En terprise of New Guinea, N.L., the directors state that altogether the company possesses 13 mining tenements in the Morobe goldfield, comprising ap proximately 4400 acres of auriferous country.
Several valuable water-rights have been secured and provide the facilities for the development of adequate economical hydro-electric power.
Samples from the three properties where work is at present concentrated give highly satisfactory results, and it is considered that even an average gold content of 3/- a cubic yard will yield profitable results.
The directors express the hope that the expedi tion at present on the field on the company’s behalf would at an early date report further im portant discoveries.
Equatorial Gold
The representatives of Equatorial Gold Explora tion (New Guinea and New Britain) Syndicate N.L. (Dr. J. R. Atcherley and Mr. A. E. Palmer) ad vise they have located gold deposits in New Brit ain. They are forwarding samples to the Mel bourne office.
Koranga Gold Sluicing
Koranga Gold Sluicing Ltd., New Guinea, showed a net profit of £15,837 for the year ended June 30, compared with £6,213 for the previous year. Divi dends and bonuses totalling 9/6 per share of £1 each absorbed £13,300. Production of 5997oz. bullion, which realised £25,638. The capital of the company is £28,000.
Guinea Gold Now Drilling At
Lakekamu
Guinea Gold, N.L., reports that after a pre liminary reconnaissance of the company’s new properties in the Lakekamu district, Papua, the technical staff of Placer Development, Ltd., has recommended an extensive drilling ’campaign. Two complete units of drilling plant arrived in New Guinea at the end of October. Both are scheduled to be in full operation on the Babuau areas during November. Owing to the great extent of the pro perties it may be six months before comprehen sive reports on values can be submitted.
Misima Central Gold
With a nominal capital of £5000 in £5 shares, Misima Central Gold N.L., has been formed in Melbourne to acquire applications relating to four leases covering 89 acres on the island of Misima, Papua. Four adits have been driven on the south eastern end of the leases known as Misima North east and Misima North-east No. 2, which are situated three and a half miles from the wharf at Bwagaoia. There are two lodes on these leases.
The other leases, known as Misima Central and Misima Central No. 2, are situated on the north ern extension of the line of lode which strikes through the leases of Misima Gold Reefs N.L., New Misima Gold Mines Ltd., and Mt. Sisa Com pany, The lodes are stated to run from end to end on these leases, a distance of 2300 ft., with an approximate width of lift. Assays of four samples showed values ranging from 2dwt. 10gr. to 8dwt. 23gr.
It is proposed to undertake such development work as is deemed necessary to secure further capital to work the mine in a profitable man ner. The public subscribed for 750 shares, and the remaining £250 shares were issued as fully paid to the vendors. The legal manager is Mr. H. R.
Lockwood, of 360 Collins Street, Melbourne.
New Guinea Prospectors, N.L.
The result of the examination of company’s areas in Milne Bay Goldfields (Eastern Papua) has proved unsatisfactory, and the areas are being abandoned.
Day Dawn To Hire Electric
Power
In consequence of the excessive cost of trans portation of steam power plant, the directors cf Day Dawn South (New Guinea) N.L. have de cided to approach another company, operating near the mine, to supply sufficient electric power for a crushing plant. If negotiations are success ful. a plant will be installed immediately. The mine manager, they add, estimates that there is about 4500 tons ore available for milling, aver aging 1oz. 10dwt. fine gold and 100oz. silver per ton. The average width of the reef is 3ft.
Gold Mines Of Papua
In a report to shareholders on November 8, the Directors of Gold Mines of Papua stated that a full programme of work is in progress at their mines on Misima and Woodlark Islands, and that prospects are encouraging. An auxiliary ketch will be purchased to run between Samarai, Misima, and Woodlark; and arrangements will be made for direct wireless communication.
Misima Is. —Development of Mt. Sisa leases being carried out on continually increasing scale. Two lines of lode are being tested for a length of 1700 feet by adits driven at regular horizons, com mencing from creek bed to height of 500 ft. up Mt.
Sisa ridge. Double shift of natives now employed testing ore bodies from the adits. The two main ore bodies are well defined, but the gold distribu tion is erratic.
Woodlark Is. —Preliminary testing at Northern section of Kulumadau lease has been commenced.
No. 1 lode, tapped by short cross-cut, assayed 8.2 dwts for a sampled width of 50in. A North drive has been commenced on this ore body. Samples from No. 2 lode (parallel) show values up to 32.4 dwts. for a width of 30in. This is to be further tested.
Sand and Slimes. —Site for re-treatment of Kulu madau tailings dump has been cleared and prepara tions are being made for installation of plant.
Preliminary tests show the 100,000 tons available have an extraction value of 1.02 dwts.