From Papua

Lakekamu Goldfields Development

Mr. R. A. Clinton, superintending engineer to Lakekamu Goldfields (Papua) Development N.L., has reported on additional bores on the Tiveri leases. Four bores gave values up to 6d a yard.

The average value of the four bores was 4d, and the average depth 19 ft. The plant has been shifted to the main creek (Tiveri main leases). Four bores on bore line No. 1 gave values up to 6/6, and the average value of the four bores was approxi mately 5/ over an average depth of 25 ft.

JULY 3.—Twisty areas, three scout bores put down on bore line No. 1, on Camp Creek, half a mile east of previous bores. Depth 40ft., values /5.5 per cubic yard; 39ft., /8.7; 43ft., 1/10. Length of this line of bores is six chains.

JULY 8. —Advice from prospecting party which left Port Moresby in May states that the pros pectors had reached one of the areas which they had set out to locate, and that scout boring had begun on a large area.

Misima Central Gold N.L.

In their half-yearly report the directors of Misima Central Gold N.L. advise that on the registration of the company four leases—three of 24 acres and one of 14 acres—were held under option from the vendors. Six additional leases have since been pegged and applied for by the com pany, making a total area of acres. Four leases, of 96 acres, are at Ginisea, about a mile east of the leases of New Misima Gold Mines

Ltd., and six leases are at Tomiera, north of the New Misima areas, and is on the same line of lode with similar characteristics. Developmental work is in progress on the areas. Expenditure for the period was £1839, and at the close of the half-year the company had a surplus of liquid assets of £1512.

A report issued recently by the company’s engineer at work on one of the Louisiade leases, states that he expected shortly to cut the lode, which he anticipates will carry good values and be over 12 feet in width. The assay plant is being installed, and work which had been delayed through sickness and want of building material is now pro gressing rapidly. It is definitely established that both the Mt. Sisa lodes run into the Misima North leases, and are practically vertical at the point of entry.

A report from the Ginisea leases said that lodes are proving to be of great width and carrying good values. No. 1 tunnel in 110 ft. entirely in lode.

Crosscut at 20ft. put in at 30ft., and still in lode.

Crosscut at 70ft. put in 12½ft., still in lode. Crosscut at 95ft. put in 41ft., where porphyry footwall struck. Lode principally black manganese rubbly quartz and fine and coarse gold is showing in dish washing. No. 3 tunnel in 103 ft. Lode 12ft. wide has been cut. Expect cut main lode farther in.

No. 4 tunnel in 95ft. Lode is 47ft. wide at present, but hanging wall not yet been reached. No. 5 tunnel in 59ft. Cut 18ft. lode, comprising 2ft. brown, 12ft. black, manganese, and 4ft. red rubbly quartz, followed by 17ft. black lode, and still in lode. Total width without hanging wall reached is 65ft. No. 6 tunnel in 65ft. Lode over 60ft. wide, hanging wall not reached. From this adit assays of 14dwt. obtained. Two other adits com menced. Lode should be cut at 200 ft., giving 250 ft. of workable backs.

Gold Mines Of Papua

After providing £778 for depreciation, expenditure

account of Gold Mines of Papua Ltd. since its inception to March 31, shows a debit balance of £12,928. At the close of the period there was a surplus of liquid assets of £7868. Exploration work on Misima Island, the directors report, has been carried on continuously with encouraging results.

The extent of work in the various drives amounts to 3300 feet, of which 1000 feet has been in ore.

The average width is 7 feet, of an average value at the present price of gold of 46/ a ton. The property is being developed from 14 adits at five separate horizons between the bed of the creek and the crown of the ridge, a vertical height of 8000 feet. In several of the workings the value of the ore is of much higher grade than the general average. Values appear to be increasing, and the directors believe a sufficiently large tonnage is indicated to eventually warrant equipment. Con sideration is being given to the installation of a pilot plant with a view to determining the most economical method of treatment. The erection of plant to treat the sands and slimes on Woodlark Island has almost been completed, and it is ex pected that production will commence next month.

The company has taken an option over an alluvial area of approximately 600 acres of dredgable land on Woodlark Island, said to contain payable values.

Arrangements have been made to scout bore the area. During the period the option over the Kulumadau lode was exercised, to comply with the terms of which a development company, Wood lark Gold Mines Ltd., with a nominal capital of £10,000, was registered at Port Moresby in December last. The work of prospecting this lode is progressing, and although results are encouraging, no forecast of results or values can be estimated at this stage.

Yodda Goldfields Ltd.

Though production of Yodda Goldfields Ltd., Papua, for the first five months was less than anticipated, being 230oz. bullion to the end of January, the directors report that the yields in creased in the next five months, being February 53oz., March 66oz., April 59oz., May 60oz., and June 70oz. The average of more than 60oz. per month for this period would show a profit over the expenses, which average about £350 per month.

New Misima Gold Mines

Mr. F. W. Cuthbert, managing director of New Misima Gold Mines Ltd. reported as follows on June 8: About 1259 tons of ore were put through the mill in May, yielding 954 tons of sand and 305 of slime for gold bullion of approximate value in Australian currency of £2601/15/3. Mine work has been carried on as usual, main levels have been extended 90 feet, rises 108 feet, cross-cuts 57 feet. Repairs to main levels 108 feet. Owing to Co.’s good financial position the monthly dividend has now been increased from 1/6 to 2/-.