From Papua

Misima Gold Reefs (N.G.) N.L.

Driving of Waterfall adit on the property of Misima Gold Reefs (New Guinea) N.L., situated on Misima Island, Papua, has disclosed the exist ence of two new and unexpected lodes, both carrying exceptionally good gold and silver values.

This information has been received by Mr. W.

Blewett, a director of the company. Oroville Dredging Cos. Ltd., of London, which holds an option over the Misima Gold Reefs leases, is in full control of developmental work. The first new lode in Waterfall adit, which is 500 ft. below the first adit, and gives 1,000 ft. of backs, was cut at 270 ft. from the adit mouth. It is nearly 12 ft. wide, and runs parallel to the main line of lode, values being described as the richest on Misima Island. A number of assays showed an average of slightly more than 1 oz. 1 dwt. of gold and 4 oz. 6 dwt. of silver to the ton. The second lode was cut at approximately 300 ft. from the adit mouth, and assayed 1 oz. 10 dwt. of gold and 1 oz. 7 dwt. of silver a ton. It is expected that the main lode, which is the objective of the adit, will be cut in about another 60 ft. of driving. In view of the latest developments, it appears almost certain that the Oroville Dredging Company will exercise its option and form a new company. A first deposit is due before the end of this month, and will g|ive the right to an extension for a further six months. The orig inal extension of option was granted to enable work to be carried out in Waterfall adit.

Cassowary Dredging N.L.

Application has been made in Melbourne for the registration of Cassowary Dredging N.L.

Nominal capital is £BOOO, in 80 shares of £lO each, of which 60 have been subscribed for. The company is interested in an area on the Lake kamu goldfield, Papua. The directors are Messrs.

O. T. Lempriere, A. Pratt, F. G. Hughes, T.

Owen, and C. G. Lyon. Mr. C. Cameron, 395 Collins Street, Melbourne, is the legal manager.

Lakekamu Goldfields (Papua)

Development, N.L.

Mr. R. A. Clinton, superintending engineer to Lakekamu Goldfields (Papua) Development N.L., was in Melbourne in the middle of September, having been detained at Sydney through illness.

Mr. Clinton reports that boring to date on some of the areas has proved satisfactory, and further work in accordance with the programme laid ■down prior to his departure from Papua is in progress. The board has adopted Mr. Clinton’s recommendations. Mr. Clinton hopes to return to Papua shortly, when he will furnish the company with a full report on the various properties.

Misima United N.L-

Mr. H. F. Pearson has forwarded to Misima United N.L. his preliminary report on the com pany’s properties. Mr. Pearson reports that in No. 2 adit on the Louisiade leases, a quartz-man ganese lode, 10 to 12 ft. wide, was cut, but the average value was under 2 dwt. a ton. Adit 2Y

has cut this body 30 feet lower. This adit is being stopped and a drive south is being commenced on the ore channel, also a winze to test the lode at depth. In No. 6 adit a rubbly quartz vein was cut at 100 feet, and assayed 3 1 / 2 dwt. a ton.

Driving is in progress along the vein. Adit 1A will be stopped to concentrate on Nos. 2 and 6 to determine whether there is any improvement at depth. In Louisiade No. 4 a belt of graphitic schist has been located in mineralised country.

Prospecting work will be commenced on other leases held.

New Misima Gold Mines Ltd.

Mr. F. W. Cuthbert, managing director of New Misima Gold Mines Ltd., Misima Island, Eastern Papua, reported on August 5 as follows:—For the month ending July 31, 1154 tons of ore were put through the mill yielding 874 tons of sand and 280 of slime for gold buillion of approximate value in Australian currency of £3451/17/4. To facilitate the handling of mine timber about half a mile of new road was made. Mine work was carried

on as usual. Main levels were extended 94 ft., crosscuts 59 ft., rises 30 ft., repairs to main levels 190 ft. Monthly dividend, No. 45, of ?/per share, was declared payable.