Pacific Mining Activity

In Papua

Lakekamu Goldfields (Papua) N.L.

Lakekamu Goldfields (Papua) Development N.L., on the recommendation of the field staff, has made application for a further dredging claim five miles long by seven chains wide, adjoining the Twisty areas. In addition, application has been lodged for dredging claims totalling 4430 acres, enclosing, but not including, the leases held by the company, known as the Tiveri main leases, situated approximately 12 miles from the Twisty areas.

Mr. R. A. Clinton, the company’s manager, states that the average value disclosed in six scout bores put down on a section of lease 20 of the Twisty areas is 3/9 a yard, based on gold at 85/- sterling an ounce. The average depth of the wash is 44ft.

At the Tiveri main lease, boring will commence immediately. The Tiveri main leases are about 12 miles from the Twisty areas. A prospecting party is leaving by aeroplane to deal with certain other properties mentioned in the prospectus of the company. These areas are about 70 miles from the Tiveri leases.

Misima Gold Reefs N.L.

Early in May, Oroville Dredging Co., Ltd., of London, lodged with the management of Misima Gold Reefs (New Guinea) N.L. the first deposit payment, in accordance with the recently-signed agreement. Mr. H. R. Lockwood, legal manager of Misima Gold Reefs, advises that latest reports received from the field at Misima Is., Papua, war rant the directors to believe that the company has a valuable property. The London company received the directors’ sanction to have the option of underwriting a no liability company of not less than £100,000 in Melbourne.