Pacific Mining Notes

Day Dawn (N.G.) Ltd.

Day Dawn (New Guinea) Ltd. advises that 286 tons of ore crushed from Ist to 9th February re turned 112oz. of bullion. Experts are investigating the application of a hydro-electric power scheme to the mine. A modern cyanide plant has been erected, but it cannot be operated until hydro electric power is connected from an adjoining com pany’s scheme in a few weeks. The value of the gold contents in the levels going south have been disappointing, erratic, and beyond certain points unprofitable. The good values of the upper levels have not, on the average, been maintained beyond a length of 300 feet on the bottom level. Further extension of the upper levels towards the south has for the present been postponed. The directors consider the true ore body may be located by crosscuts. On the bottom level for 285 feet going south the average value over a width of 4 feet is 12dwt. 17gr., but the next 50 feet so diminished as to be unprofitable. The mine manager expects to expose good values in approximately 30 feet.

This is based on the fact that highly payable values were mined in the level immediately above. In a drive on the manganese lode at the same level, a shoot of 80 feet in length of average width of 30 inches, produced on an average 24dwt. lt is more than probable these values will be found to extend across the creek. The heavy expense in connection with exploratory operations, and cyanide plant during the last three months caused the expenditure considerably to exceed the returns.

Misima United N.L.

With a nominal capital of £45,000. Misima United N.L. was formed recently in Victoria. The capital is in 4500 shares of £10 each, of which 3000 have been subscribed for at £5 a share; 500 were taken up by the vendors, who also received 900 fully paid, and 100, fully paid, have been

allotted to the promoters. The company has ac quired an interest in an option to purchase leases, and application for leases, comprising 330 acres, cn Misima Island, off the south-eastern coast of the Papuan mainland. The lodes will be developed to determine the values at depth. The directors are Messrs. D. J. McClelland, W. J. Nicol, D.

Reid, and S. Wright-Smith. Mr. J. D. Morrison, Bank House, Bank Place, Melbourne, is legal manager.

Navasi Gold Syndicate

With a nominal capital of £10,000, in 2000 shares of £5 each, Nasavi (Fiji) Gold Syndicate, N.L., has been formed. For subscription, 1500 shares were offered at £2 a share; 250, fully paid, are to be issued to the promoters, and 250 will be under option to Mr. M. J. Foster for 12 months, at such price as the shares are called up to upon which the option is exercised. A prospector’s right issued on January 16, is held by Mr. Foster, who will proceed to Tavua, Fiji. Provisional directors are Messrs. G. G. Dunstan, D. C. J. Hill, P. J.

Moloney, and J. B. Laing. Mr. H. W. Percival, 422 Collins Street, Melbourne, is the legal manager.

The New Guinea Syndicate

The New Guinea Syndicate has been registered in Melbourne with a capital of £3,000, in 300 shares of £10 each. The company proposes to exercise an option to purchase held over six adjacent 50-acre leases on Edie Creek, New Guinea.

A series of parallel reefs of true fissure type, it is stated, run through the area, and one gold-bearing lode is outcropping for a length of over 1000 ft., having a visible depth of 700 ft. Though the gold bearing ore is not payable where the superficial investigation has been effected, the prospects are stated to justify diamond drilling, prospecting by tunnelling and by sinking prospecting shafts.

If these areas justify development the New Guinea Syndicate will form Edie Creek Gold Pros pecting and Option Syndicate, N.L., with a nominal capital of £15,000, to exploit them. When formed the new company will lease further alluvial areas and water rights on Edie Creek. It is claimed that a great part of the alluvial gold being won by the Bulolo Company’s two upper dredges has been shed from the sources of Edie Creek, and has passed down the stream through these alluvial leases, and into the Bulolo River, above the Bulolo dredges. Within the area is located an ore body, which is similar in type to that being worked by New Guinea Goldfields Ltd. at Golden Ridges.

Golden Range Leases On Ramu

River, N.G.

The New Guinea representative of Universal Gold Development N.L. reported in February that he had acquired an option over the Golden Range leases, on the Ramu River, of approximately 1200 acres. The representative and an engineer left immediately to inspect the property.

Oriomo Exploration’S Option On

N.G. Sluicing Areas

A free option for six months with an extension, if required, for a further six months on reasonable terms, has been obtained by Oriomo Explorations, Ltd., over 150 acres sluicing and dredging areas in the Mandated Territory. Through the area, which consists of old river beds, terraces, flats, and beaches, the Bulolo River runs for approximately 62 chains. Inspection of the property is proceeding forthwith.

New Territory (N.G.) N.L.

An option has been acquired by the directors of New Territory (New Guinea) N.L., on satisfac tory terms, over a large area of ground in New Guinea. The area is said to contain good values, and is in new country. With the object of con firming reports already received, arrangements are being made to have the ground further tested and opened up. For this purpose a competent mining engineer will investigate on behalf of the company.

The company also reports that Messrs. Leahy Bros, the company’s prospectors in New Guinea, have been unsuccessful in finding a suitable pro perty for the company, and their contract has been terminated.

Enterprise Of N. Guinea

The representative in New Guinea of the Enter prise Company has advised that Mr. W. F.

McKenzie, the engineer appointed to examine part of the company’s ground on the Watut River and other areas held by the company in that district, has arrived with his assistant, and has started his examination of the areas. He further advises that the amended mining ordinance (extended prospecting licence) has been enacted.

N.G. Goldfields Ltd.

Monthly returns and estimated profits of New Guinea Goldfields Ltd. are compared in the fol lowing table:—

Development.—Total development, 291 ft. Dia mond drilling advanced 42ft. to 329 ft. Power trans mission line is complete and all units are working.

Edie Options Ltd.

Registered in Sydney on March 6: Edie Options, Ltd., nominal capital £6000 in £10 shares. To acquire gold mining leases in areas in Morobe, New Guinea. Subscribers: C. O. Beck, S. H.

Carroll, R. Waider, W. E. C. Hayes, V. C. Harte, A. H. O. Boulton, and F. R. Black (1 share each).

Koroere Gold N.L.

A cable message received from Fiji early in March by Koroere Gold N.L. stated that a mining lease over 100 acres of the Cardigan area had been approved. The Government will grant a prospect ing licence over the Koroere area, at Tavua, with assurance that granting of a mining lease will follow. The company comments that the leases adjoin each other, and comprise a total area of 100 acres. This is the second gold-mining lease to be granted by the Government of Fiji, the first having been given to the private company operat ing the Emperor mine near Tavua, Viti Levu.

The property of the Koroere company adjoins that of the Emperor mine.

New Misima Mines

The manager of New Misima Gold Mines Ltd., Misima Island, Papua, reported for the month of January: 1206 tons of ore have been put through the mill, yielding 921 tons of sand and 285 of slime for gold bullion of approximate value in Australian currency of £2958. General repairs have been effected to cyanide works and manager’s residence.

The mine work has been carried on as usual.

Dividend, No. 39, of 1/6 per share, has been declared.

Mt. Lawson Prospecting And Option

Syndicate

Shareholders of Mt. Lawson Prospecting and Option Syndicate N.L. decided at a meeting held in Melbourne on March 5 to continue the exist ence of the company. The chairman of directors (Mr. D. J. McClelland) said that as a result of his visit to New Guinea, Upper Watut Gold Alluvials N.L. was formed, and £8625 and 200,000 fully paid shares were allotted to the Mt. Lawson Syndicate, together with the right to apply for 187 000 contributing shares. If the cash was dis bursed among syndicate holders it would represent about £12 a share. The directors, however, recommended a continuance of the syndicate. There were several ways in which the company might continue with profitable results. Several proposi tions were available to investigate, and, in view of the higher price of gold, it was thought there might be still favourable opportunities to acquire

profitable mining properties. The company could also obtain share interests in other companies and the directors could obtain the right for shareholders to subscribe in new companies

which might be formed. Speaking at the Upper Watut Company, Mr. McClelland said the price of gold was now 20/- an oz, above the prospectus estimate, increasing the estimated profits by 25

Alluvial— Dec. Jan. Feb.

Fine gold, oz. .. 879 .. 1903 .. 1263 Fine silver, oz .. 698 .. 831 .. 986 Mill- Fine gold, oz. .. 1828 2342 ,. 1623 Fine silver, oz. .. 843 .. 1132 .. 822 Estimated profit— Nov. Dec. Jan.

Alluvial .. .. £5,109 .. £3,523 .. £4,681 Mill .. .. £16,317 .. £11,293 .. £15,414

per cent. It appeared that shareholders would be well rewarded by the property. The Bulolo Com pany, on the other side of the hill, was paying 40 per cent, in dividends. The Upper Watut Com pany should be ready to produce in about 18 months. In appreciation of the manner in which the directors and the legal manager (Mr, A.

McEwan) had carried out their duties, it was decided to allot £210 to the board, and a like amount to Mr. McEwan.

Sunshine Gold Equipment

Sunshine Gold Development advise that tenders have been accepted for their new equipment.

Orders have been placed for the supply of pipe line and plant for the equipment of the Con solidated claim. The first shipment of the new gear will be made in June, and the balance in July or August. The recent new issue of 72,000 contributing shares offered to shareholders at a premium of 5/- per share was oversubscribed by 33 per cent.

Lucy Syndicate Abandons Fiji Project

Lucy Syndicate N.L., or Melbourne, announced in February that a prospecting party would be sent to Fiji at an early date. The party under the leadership of Mr. T. J. Rogers, mining en gineer, of Victoria, included Messrs. W. V. Terry, of Fiji (who had been prospecting there with Mr.

W. Borthwick), J. Wilson, of Western Australia, and A. Radley, of Chiltern, Victoria. To meet the cost of the expedition, shareholders were offered 240 reserve shares. The shares, however, were not fully taken up and the directors have aban doned the project.

Diabot Dredging Syndicate

Dr. Jensen left for Noumea on February 18 for the Diabot River Dredging Syndicate, a Co. registered in N.S.W. but subscribed for mostly in Adelaide. He will supervise scout-boring tests over 12,000 acres on the banks of the Diabot River, in the north-west of New Caledonia. John Hay, well known in timber circles in Tasmania, tested the area by dish, and reported values exceeding 4s. a yard on the surface. The gamble is whether

these values go down. An adjoining 3000 acres, held by the Upper Diabot Syndicate, is also to be tested by the Jensen party. The Fernhill Gold Mine, adjacent to this property, has produced 21,0000 z. of gold from 13,000 tons. This and other reefs are believed to have shed their gold into the valley of the Diabot.—“Bulletin.”

Day Dawn South (N.G.)

The mine manager at Day Dawn South mine, New Guinea, reported at the end of January:— No. 1 Vein, 130 ft. Level. —North drive has been advanced 40ft. in ore. Total, 290 ft. East X cut has been started at 160 ft. in north drive and put out 28ft. in porphyry containing small veins of quartz. Total, 28ft.

No. 1 Vein, 30ft. Level. —North drive has been advanced 50ft. in ore. Total, 155 ft. A start has been made on surface winze to connect through to No. 2 rise from No. 1 vein, 130 ft. level.

North-East N.G. Goldfields

A parcel of 29,100 forfeited shares in North- East New Guinea Goldfields N.L. were offered for sale at auction in Sydney on March 5. Four hundred were sold at 3d. per share and 3,600 realised 2d. each.

East Reefs N.L.

The vanguard of a prospecting party to search and prospect auriferous areas in Fiji for East Reefs (Bendigo) N.L. left Sydney for Suva by the Mariposa on March 5.

SEARCH FOR OIL IN SEPIK AREA, T.N.G.

Geological activities in the Sepik district of New Guinea were renewed in November last by Oil Search Ltd., with an augmented staff of geologists.

The management advises that one party, headed by Mr. G. A. V. Stanley, is geological mapping an area previously surveyed and proved to possess features of geological value. A larger party, under the supervision of Mr. J. N. Montgomery, is making a critical study of a group of important anticlinal structures recognised through recon naisance mapping during a previous survey, which led to recommending this area for further attention.

Bulolo Dredge Production

February production of the four dredges of the Bulolo Gold Dredging Ltd., compares with that of

Golden Terraces (N.G.) Syndicate

With a nominal capital of £7500 in 1500 shares of £5 each, Golden Terraces (New Guinea) Syn dicate N.L. has been formed. Eight hundred shares have been subscribed for at £3 a share; 300, fully paid, will be issued to the vendor, who will also receive £250; 200 will be held under option to the vendor for 12 months at the price to which the contributing shares have been called up on the date of which the option is exercised, and 200 will be held under option to the holders of the 800 contributing shares for 12 months, upon the same terms. At the preliminary meeting of share holders held recently in Melbourne the chairman of directors (Mr. R. T. Trembath) explained that the syndicate had been formed to acquire an option to purchase certain dredging and sluicing leases and water rights along the Lower Edie Creek, New Guinea, about two miles upstream from the junction of the creek with the Bulolo River and three miles and a half by road from Wau, containing about 150 acres. Arrangements were being made with Mr. J. M. Spence to examine and report upon the areas. Messrs. J. W. Pat ched. R. T. Trembath, and F. G. Wilson were elected directors, and Mr. F. L. Smyth, 413 Col lins-street, Melbourne, legal manager.

the previous two periods as follows: — Dec. Jan. Feb.

Nos. 1, 2, 3, and 4 dredges— Cubic yards .. .. 881,400 913,000 820,000 Bullion, oz 14,919 16,222 14,417 Gold, fine oz 10,986 11,199 10,022

Value-

Aust. currency* .. £93,381 £95,191 £85,187 Per cub. yd 25.42 25.02 24.94 Working profit .. £66,104 £67,821 £58,318 * At £A8/10/- per fine ounce.