From New Guinea

Sandy Creek Gold Sluicing Ltd.

A FTER providing- £1,713 for depreciation and writing off £758 as 10 per cent of develop ment expediture and £857 as a proportion of preliminary expenses, Sandy Creek Gold Sluicing Ltd., New Guinea, shows a net profit of £5,216 for the year ended April §O. This amount, added to the previous year’s profit of £229, makes a total of £5,445 to be carried forward. h rom the treatment of 116,518 cubic yards, the recovery was 27100 z gold, which realised £20,165. an average of 3/51 per cubic yard. Operating costs were £10,237. These returns were from the No. 1 elevating plant working in Sandy Creek, and from boxing operations in Poverty Creek and Upper Sandy Creek. At the end of the Co.’s year the second plant was being installed on Poverty Creek, and boxing operations have been trans ferred to Upper Poverty Creek. If testing opera tions in Upper Sandy Creek continue to be satis

factory, a small nozzle plant will be installed at comparatively small cost. At April 30, floating assets, including cash £4,367, were £6,838. against creditors £3,671.

Capital is £lOO,OOO divided into 800,000 shares of 2/6 each. Directors are: Messrs. H. B. Jamie son (chairman), H. G. Hyde (managing director), J. W. Hinks, A. J. Smeaton. Mr. W. Johnsen is manager in New Guinea, and Mr. R. J. Winters, F.G.S., A.1.M.M., is consulting geologist.

Production figures for Sandy Creek Gold Sluic ing Ltd., since April have been:

No clean-up has yet been made on the No. 2 plant, as the plant has worked so far only inter mittently owing to landslides.

New Guinea Goldfields Ltd.

The last report issued by New Guinea Gold fields Ltd. was as follows: Edie Creek Mill:

Apr, May June July Cubic yards ... 8,611 8.590 8,124 14,560 Cold, oz 160 132 232 308 Per cubic yard ._ 2/9 1-3 2/3J 4/3i 3/2

Apr.

May June Gold, oz, fine 1,801 1.435 1,355 Silver, oz, fine 4,228 3,145 3,772 Alluvial: Gold, oz, fine .. 702 854 1,273 Silver, oz. fine 513 603 1)28 Gold Ridges Mill; Gold, oz, fine 758 581 621 Silver, oz, fine 860 587 619 Operating Profit: Edie Creek ...u £7,449 £4,127 £3.997 Alluvial £2.532 £3,373 £6,842 Golden Ridges £563 £592 £1,074

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Enterprise Of New Guinea Gold And

Petroleum Development N.L.

The following reports have been received from Enterprise of New Guinea Gold and Petroleum Development N.L.: June 27 to July 17 —Surprise Creek: Three faces worked throughout period. Clean-up for June yielded 85oz 7dwt of retorted gold from

7,898 cubic yards sluiced, as previously reported.

Additional pipe lines constructed and races cut for opening another face. Partial clean-up for July yielded 48oz Idwt reported gold, being por tion of the 1220 z 12dwt reported. Edie Creek Lode Mine: Construction of cyanide plant almost complete. No. 1 W. drive main lode extended in very hard ore to 697 ft. from portal. Samples taken as drive proceeded gave assays (from 670 ft to 690 ft) ranging from 3dwt 4.Bgr gold and 4oz 12dwt 19.2 gr silver to 13dwt 9.6 gr gold and 9oz 4.Bgr silver. Full width lode not exposed. Drain age adit extended to 484 ft from portal.

July 27: Crushing was started at the Edie Creek mine yesterday. The machinery is working well. (See article elsewhere in this issue dealing with the N.G. Administration’s refusal to issue to the company a permit to search for oil in an “uncon trolled” area.)

Sunshine Gold Development Ltd.

The New Guinea manager of Sunshine Gold Development Limited reported early in August that the clean-up for July yielded 323 ounces of gold.

Bulolo Gold Dredging Ltd.

Production for the four dredges of Bulolo Gold Dredging Ltd., for July, compares with that of the previous two periods as follows:

Value:

Australian currency* £67,7773 £84.230 £84,656 Per cubic yard /17.9 /25.9 /21.7 Working profit £53,865 £54,626 £55,020 *At £AB/15/- per fine ounce.

Reduced output in May was due to changing the courses of two dredges, which required the digging of a large volume of tailings and over burden.

Mandated Gold, N.L.

Shareholders of Mandated Gold N.L., New Guinea, at an extraordinary meeting, held re

cently in Melbourne, passed a resolution authori sing the winding up of the company voluntarily.

A liquidation dividend of approximately 1/11 a share will be made to shareholders.

Bulolo Gold Deposits Ltd.

Bulolo Gold Deposits Ltd., New Guinea, re ports that a clean up of the Bulolo terraces has been made, preparatory to shifting the plant on to the new area adjoining the Morobe area, and known as the Morobe Deposits. The construction of the pipe line to Morobe; Deposits is well under way, and from now on all labour will be con centrated on working the two areas.

Recent returns have been:

Wewak Gold Estates

Testing operations by Wewak Gold Estates N.L. on the lease area on the Humuku. or Screw River, New Guinea, were not sufficiently attrac tive, the directors report, to warrant mining being undertaken. Operations were then trans ferred to the Parchee River, about six miles distant,, where the Co. has three claims totalling about 1,000 acres. Near the upstream boundary of No. 2 claim on the Parchee, a line of 11 bores, 50ft apart, was put down across the lead, and values of 9.9 gr. a cubic yard were recovered in what was apparently the pay lead. Scout boring and testing were then continued down stream for 1,200 yards, the successive values in the lead being 16 gr., 10 gr., 8 gr., 3 gr., 12 gr., 147 gr., and 26 gr. a cubic yard. The width of the pay lead has not been defined, and the depth averaging about 9ft. Further scout boring and testing are being continued downstream. * Boxing is being undertaken by two gangs of native labour under white supervision at selected points.

It is hoped that the proceeds from this work will meet current expenses. A tribute has been granted on a section of the Humuku River claim.

May June July Cubic yard 901,000 780,000 933,000 Bullion, oz 11,261 13,876 14,150 Gold, fine oz. — 7,746 9,627 9,675

Bulolo Terraces: June 7 July 7 Aug. 4 Hours 650 525 *370 Yards 14,000 15,000 10,000 Gold. oz.

Mox-obe Area: 50 24 8 Hours 550 575 500 Yards 4,500 5.500 6,500 Gold, oz *Two weeks only. 60 110 170