From Papua
pp. 71-72 · Read in the full issue
Mandated Alluvials N.L.
Mining leases held by Mandated Alluvials N.L., Papua, comprise 125 acres, made up of Moresby King, 20 acres; Sapphire, 30 acres; Moresby King No. 2, 50 acres; Moresby King No. 3, 15 acres, and Moresby King No. 4, 10 acres. Mr. H. E. Hallam, general manager, has submitted to the directors a report on operations to the middle of August.
He advised that although only a small part of the area has been so far prospected, the systematic exploration has extended over a short aggregate length, the size and tenor of the lodes is such that the probabilities are high of developing sufficient quantities of medium to high-grade ore to estab lish a sound producing mine.
The progress report for the period August 6 to August 25 was as follows:—No. 3 adit, north drive off No. 1 east crosscut advanced 7ft. in ore (not yet assayed). Costeen over No. 3 adit. A cross cut costeen 40ft. south discloses the lode over a width of 24ft., averaging 14dwt. gold per ton, foot wall not disclosed. Driven on for 23ft., the value at 20ft. is 20dwt. gold per ton. No. 6 adit: North drive advanced 39ft. in ore averaging 29dwt. gold per ton to a total length of 75ft. Crosscuts at 50ft. north driven east 25ft., and west 6ft., disclose of ore, averaging 13dwt. gold per ton. No. 4 winze in south drive was sunk vertically to the
footwall through 12ft. of ore, averaging 14dwt. gold per ton. South drive off No. 4 winze was driven 12ft. in ore averaging 44dwt. gold per ton. No. 4 shaft: Sunk a further 39ft., total 70ft. in ore.
Average value from 31ft. to 70ft., 17dwt. gold per ton. No. 7 adit: West drive advanced 19ft. in
ore, averaging 20.9dwt. gold per ton to a total of 19ft. Crosscut south-east to No. 3 shaft advanced 33ft. in ore, averaging 27.8dwt. gold per ton. No. 5 winze at 20ft. in north drive sunk to 30ft. in ore, averaging 16dwt. gold per ton. No. 8 adit: Driven 70ft. in country. Casteening at 115 ft. north-east of No. 7 adit so far discloses 3ft. of ore, assay ing lldwt. gold per ton. (All values in fine gold per long ton.) The manager’s report for the period August 25 to September 7 stated: Sapphire leases, No. 4 shaft sunk 10 ft. to 80 ft. averaging 20dwts. gold per ton, width 6ft., neither wall disclosed. No. 6 underlie shaft, 90ft. south of No. 7 adit sunk 30ft. to 30ft. averaging 21dwt., width No. 7 underlie shaft, 90ft. north of No. 7 adit, the approaches in ore 29ft. averaging 13)4dwt., width and shaft then sunk 25ft. averaging width 3ft. lOin. No. 8 underlie shaft, 200 ft. north of No. 7 adit, the approaches carry no values for 35ft., now sunk 20ft., averaging 16dwt., width 3ft. lOin. (Values in fine gold.) The directors on September 12 offered for sub scription at a premium of 5/ each 28,000 of the 30,000 shares held in reserve, payable 5/ a share on application and 5/ on allotment. The shares are to rank equally with the shares issued. The new issue was offered to shareholders in the proportion of 40 shares for every 100 shares held. The issue was underwritten by Messrs. C. B. Quinan and Co.
Cuthbert’S Misima Goldmine Ltd.
Monthly clean-up for Cuthbert’s Misima gold mine Limited on August 23 compared with prev ious two months as follows:
Irregular steamer service between Misima and Samarai is the reason for delay in receiving bullion returns for August. The new 10-head stamp bat tery and the new 180 b.h.p. crude oil engine for the enlarged plant have been shipped from Sydney
to Misima. A rock breaker has been erected to treat the hard quartz ore. Additional houses for white staff and natives have been completed.
Tiveri Gold Dredging Co.
A profit of £682 was earned by Tiveri Gold Dredging Co. Ltd., Papua, for the year ended June 30, 1936. The year’s production was 7200 z. gold, against 10260 z. in 1935.
The manager anticipates better results, as the overburden is less troublesome, and the run of wash better defined. The dredge has operated satisfactorily, 158,135 yards having been treated during the year, compared with 154,843 yards for the previous year.
The directors are considering a scheme for work ing the “Twisty” areas and also the area on “Sunset” which is at present being prospected.
Referring to the “Twisty” areas, the engineer estimates that the Middle Creek section contains 4,898,080 cubic yards, valued at £139,935, and that the Camp Creek section contains 1,467,117 yards, valued at £72,159.
Developments (N.G.) N.L.
An option over an area of 160 acres, adjoining the southern boundary of the property of Man dated Alluvials N.L., 17 miles from Port Moresby, Papua, has been acquired by Developments (New Guinea) N.L.
The option was secured for the latter company by Mr. F. A. Roberg, following an inspection of the area. On behalf of the same company, Mr.
Roberg also pegged out an area of 160 acres ad joining the northern boundary of the Mandated Alluvials holdings.
During the last few months a lode about 60ft, wide, containing values in excess of 1 oz. of gold a ton, has been opened up by Mandated Alluvials.
More than 100,000 tons of ore are said to have been developed.
Misima Reefs Ltd.
With a nominal capital of £lOO,OOO in £1 shares, Misima Reefs Ltd. has been formed in Sydney to acquire the leases on Misima Island, Eastern Papua, formerly held by Misima Gold Reefs (New Guinea), N.L. The latter company received 20,000 fully paid shares at the end of August, and these were distributed among the shareholders in the proportion of 22 shares for each Misima Gold Reefs share held. The vendor syndicate had the right to nominate two persons as directors of the new company.
The 10 leases, comprising 198 acres, were placed under options to Oroville Dredging Co. Ltd., of London, in March, 1934. Under the supervision of Major Stuart Love systematic testing operations were carried out, and the option was exercised at the end of May of this year. The agreement pro vided for formation of an operating company with in three months. Proved ore aggregates 46,000 tons at an average grade of 5.8 dwt. of gold a ton.
The directors of Misima Reefs Ltd. are Messrs.
F. W. Baker, London (chairman of directors of Oroville Co.); P. M. Owen, Sydney; R. C. M.
Boyce, Sydney; together with two directors to be nominated by Misima Gold Reefs (N.G.) N.L.
June.
July* August Mill treated (tons) 1580 1305 1753 Bullion produced (oz.) .. 2396 1558 2272 Gold, fine oz 499 348 528 Silver, fine oz 1843 1150 1671 Estimated value (gold at £A8 per oz.) £4122 £2844 £4306 Value per ton of ore .. 52/2 43/7 49/1 * To July 18.