Mining News

From Fiji

Emperor Gold Mining Co., Ltd.

Nmperor Gold Mining Co., Ltd., Tavua,

*- Fiji, advises that the figures for the last three production periods compare as follow:

♦Stacked, pending further treatment.

The company announced at the end of April that a third dividend of 6d. a share will be paid on May 31. The distribution will take £47 500 bringing total payments to £190,000. The com pany became a dividend-payer last November when shareholders received 1/- a share.

Loloma (Fiji) Mines, N.L.

March operations of Loloma (Fiji) Gold Mines, N.L., were as follows:—Main shaft, 120 ft. level: Intermediate north drive off No 3 shaft to 144 ft., value 129 to 144 ft. low. During period nearly 32 in. rain fell, retarding develop ment and necessitating extensive repairs to roads.

The clean-up report from Loloma (Fiji) Gold Mines, N.L., for the four weeks ended April 19 are compared in the following table

♦Plant shut down 3 days over Easter; higher residues mainly due condition of roast after holidays.

A dividend of 1/- a share, payable on June 6, has been declared by the directors. Books close on May 25.

Mt. Kasi Mines, Ltd.

Yields from the Mount Kasi mines at Vanua Levu, Fiji, for the past four months, are com pared in the following table:—

From New Guinea

Bulolo Gold Dredging, Ltd.

PRODUCTION of Bulolo Gold Dredging Ltd.’s dredges in New Guinea from January to March was:—

*At £AB/15/- per fine ounce.

The directors of Bulolo Gold Dredging, Ltd., have declared an interim dividend of 1 dollar 50 cents (Canadian), payable on June 10. Shares are fully paid-up at 5 dollars, and the rate of profit is 33%.

Placer Development, Ltd.

Placer Development, Ltd., has declared an un changed interim dividend of 60 cents (Canadian) per share, payable June 10, plus exchange as at May 22 (rate unchanged). This dividend, which is for the period ending April 30, 1940, is less Canadian absentee tax of 5 per cent. The shares are fully paid-up at one dollar (Canadian), and the rate of profit is 60 per cent.

New Guinea Goldfields, Ltd.

A progress report for January to March has been Issued by the Mining Trust, Ltd., consult ing engineers for New Guinea Goldfields, Ltd.:—

Enterprise Of New Guinea.

A report issued in mid-April by Enterprise of New Guinea Gold and Petroleum Development, N.L., said:—Surprise Creek area—diversion wall across shed of the Watut River has been en larged and strengthened. A succession of heavy rains and floods recently damaged the head raoe and flooded workings below river level. Repairs were effected and sluicing resumed. Gold cleaned up to end of March 15y 2 oz. from 1,684 cubic yards wash, and 500 cubic yards overburden.

Owing river diversion works and floods there was no production for several weeks in the Edie Creek area. Underground development footage at Edie mine for March 249 ft. No. 1 level, west main lode face, extended in strong lode to 860 ft. from portal. No. 2 level, west main lode, 6 ft. ore in face, full width not exposed. At 350 ft. lode assayed 11 dwt. 4.8 gr. over width 60 in., full width not exposed. No. 3 level, “B” west main lode, faulted section of lode located, drive to 260 ft. in ore, average about 33 in. wide. No. 5 wiabe, between No. 2 and No. 3 levels, main lode, commenced and sunk in ore to 32 ft., underlie 45 degrees.

Sunshine Gold Development, Ltd.

Sunshine Gold Development, Ltd., reports that the clean-up for April yielded 78 oz. gold from 34,743 cubic yards of overburden. The general manager reports that sluicing of deep gravels began this month.

Feb. 22.

Mar. 22.

Apl. 19 Ore, long tons 13,520 14,750 13,650 Pine gold, oz 3,847 4,188 4,023 Dwt. a ton 5.7 5.6 5.8 Head value, dwt 6.13 6.31 6.5 Residue, dwt 0.39 0.5 0.47 ♦Concentrates, tons 5 14 y 2 11 Containing fine oz. est. 28 100 95

Feb.

Mar. ♦Apr. 22. 22. 19.

Mill ran, hours .. 634 623 577 Ore treated, tons .. , 2,305 2,355 2,185 Head value, dwt. .. , 28.4 28.33 28.18 Gold, fine oz 3,160 *3,210 2,944

Dwt. a ton 27.42 27.69 26.95 Silver, fine oz 773 563 510 Residues assay, dwt. .. 1.10 1.07 1.23 Residues treated, tons . — 380 228 Gold, fine oz 20 31 7

Four weeks ended Jan. 25.

Feb. 22. Mar. 22. Anr. 19.

Ore, tons 2,977 3,554 3,310 2,826 Gold, fine oz. 597 712 652 633 Value, £ A .. 5,224 6,230 5,705 5,538

Jan.

Feb.

March.

Cubic yards 1,196,000 1,138,000 1,275,000 Bullion, oz 17,778 14,848 16,686 Gold, fine, oz. 12,268 10,246 11,513

Value—

Aust. currency* . . . £107,345 £89,652 £100,739 Value per c. yd. . /21.5 /18.9 /18.9 Working profit . £75,810 £63,376 £71,277

Jan.

Feb.

Mar.

Edie Creek mill— Ore, tons 3,011 3,011 3,443 Gold, oz., fine .. .. 944 852 1,111 Silver, oz., fine .. .. 3,730 3,365 4,143 Alluvial— Gold, oz., fine . . .. 1,217 1,035 969 Silver, oz., fine .. .. 908 766 716 Golden Ridges mill— Tons treated 2,136 2,426 2,804 Gold, oz., fine .. 938 1,012 1,015 Silver, oz., fine .. 1,228 1,379 1,545 Operating profit— Edie Creek, £ . . 2,069 680 2,523 Alluvial, £ 3,884 2,644 1,918 Golden Ridges, £ .. 1,832 2,540 1,627

Sandy Creek Gold Sluicing, Ltd.

Early in May the field manager of Sandy Creek Gold Sluicing, Ltd., New Guinea, reported that the last four yields compared as follows:

In the first week of April the pipe lines, ele vator and sluice boxes, comprising the No. 2 (Poverty Creek) Plant, were moved to a new position on that Creek at the original southern boundary. Elevating was commenced there on April 13, and to the end of the month good values were obtained.

Guinea Gold, N.L.

The directors of Guinea Gold, N.L., New Guinea, have declared a dividend of lid. per share, subject to variation in the present ex change rate between Vancouver and Sydney, payable on June 13. Books close June 3.

From Papua

Papuan Apinaipi Petroleum Co., Ltd.

Papuan apinaipi petroleum co., ltd., has applied to the Federal Government for the hire of a deep drilling plant.

The Commonwealth Drilling Inspector (Mr. E.

A. Kodyen) is to proceed to Papua by air on May 16 in order that he may advise the type of plant required.

The Co.’s general manager (Mr. Launcelot Owen) will meet Mr. Kodyen at Port Moresby, and will also confer with him on the question of transport of the plant from the landing place to the bore site.

Details of the company’s proposed deep drilling programme will also be considered.

The Co. stated at the end of April that pend ing the arrival in Papua of Mr. Kodyen the No. 3 Oiapu bore had been checked for ver ticality. The result showed a possible maximum deviation of not more than 3 deg. The drilling plant had been overhauled and was expected to resume in a few days.

Mr. Launcelot Owen reported early in May that “the results obtained in the No. 3 Oiapu bore show that the first traces of oil were met with at 140 feet, and were practically continuous to the depth bored to date, viz., 791 feet. The oil is of even lighter grade and more evanescent than that struck in the previous bores. This is what would be expected normally, as the oil met with in the No. 3 bore is the product of a further intensive selective filtration in the upper part of this strata (which is now being tested by drill for the first time), and confirms the assumption that all the oil encountered in the scout boreholes has migrated from depth through very restricted channels, becoming progressively lighter as it ascends through the strata”.

Cuthbert’S Misima Goldmine, Ltd.

At the annual meeting of Cuthbert’s Misima Goldmine, Ltd., in Sydney on April 28, the chair man, Mr. Frank Hambridge, said that there was reason to believe that operations for the current year would show further progress, and it was becoming apparent that the company would soon have seriously to consider working the property upon a scale commensurate with the length and width of the Umuna ore body.

Operating costs had risen slightly, Mr. Ham bridge said, from £l/1/1 per ton in 1936 to £l/2/6 during the year under review. This was principally accounted for by the increased dis tance the ore had to be trucked from the various levels to the battery. The second haulage tunnel had been driven to overcome this disability.

As long as plant capacity was limited to 40,000 tons per annum, Mr. Hambridge added, the oxi dised ore only need be considered, but if the possibility of exploiting the sulphide zone was considered, a plant capable of treating about 1,000 tons per day would probably be needed.

The southern section of the mine, the one at present worked, would yield sufficient oxidised ore to keep the treatment plant running for 10 years. The northern section, which was grad ually being opened up, would be an equally prolific producer, it was hoped.

There was some evidence that the oxidised ore in the southern section extended below No. 2, the lowest level now worked. The lode below No. 2 might soon be tested, because apart from proving additional oxidised ore there was a chanoe of encountering an enrichment.

Figures for the April clean-up from Cuth bert’s mine on Misima Is., Papua, compare with the two previous yields as follows:

Yodda Goldfields Ltd.

A statement issued by Yodda Goldfields, Limited, reports that the amount of gold won during April totalled 79 ounces 8 dwt.

Australasian Petroleum Co. Pty. Ltd.

Australasian Petroleum Co. Pty. Ltd. reports that air photographic work in Papua for the season has been completed, and attention has been transferred to operations in New Guinea.

A total of 7,500 square miles of territory has been photographed to date. Geological work in both Papua and New Guinea is going ahead steadily.

Mandated Alluvials, N.L.

The directors of Mandated Alluvials reports that the ninth shipment of 30 tons of matte reached Port Kembla on April 5, and a fur ther shipment of 32 tons has arrived in Aus tralia. Complete assays are not yet available, but trial assays of both lots give the approxi mate total contents as 470 oz. fine gold, 1,300 oz. silver, and 22 tons copper.

To complete the issue of the total author ised capital of the company, Mandated Al luvials, N.L., has offered to shareholders the 2,000 shares originally reserved, in the propor tion of one for every 49 shares held on March 25.

Gold Mines Of Papua Ltd.

Returns for the past four months from Gold Mines of Papua Limited, at Misima Island, in Eastern Papua, show:—

Jan. Feb. Mar. Apr.

Cubic yards .. .. 14,196 16,482 17,834 15,609 Gold, oz 293 445 463.1 310 Per cubic yard .. 3/1 4/0*% 3/10% 2/11% Working cost .. .. 1/5 Vi 1/5 1/5 1/4

Jan.

Feb.

Mar.

Apl.

Crushed, tons . 2,612 2,728 2,754 2,616 Gold, oz., fine . 329 367 374 339 Silver, oz. .. . 992 938 1,050 1,076 Value . £3,000 £3,275 £3,400 £3,150 Residues, gr. 6.2 7 7 7.5

Pieb. Mar. April.

Mill treated, tons ,. .. 3,031 2,850 3,056 Bullion, oz 2,788 2,701 2,966 Gold, fine oz 808 757 808 Silver, fine oz 1,915 1,878 2,088 Est. value £6,574 £6,166 £6,591 (Gold at £A8 per oz.) Value per ton 43/5 43/4 43/2