Latest Mining News

Waihi Daily Telegraph, Volume IV, Issue 1081, 31 August 1904, Page 3

Latest Mining News

THF WAIMANUU GOLD MINE,

ENCOURAGING PROSPECTS. Tub abovo property was discovered by a well-knowu prospector, Mr WTilslej.nboufc Christmas, and by Mm was brought under the notice of the present owners. The availablo capital at their couiuiand thoj oxponded on surfaoo prospecting, with the result that fcho Wainnngn reef was stripped on tho surfaeo and traced for about 170 leet, and the insertion of. a crosß cut 45 foot below tho outcrop disolosod a compact roof 9 foot in width, Tho distance driven to reach the reef was only about 25 feet, and samplos of tho ore takon for 7 or 8 foot through gavo an average payablo value, and for a width of 3 feot tho average valuable was better than payable, boing £4 per ton, A vory rich shoot of ore was mot with on tho surface, from which a two-ton lot was obtained and sent to tho Thames Sohool of Mines for troatuiout, with tho result that bullion worth £M was rotnrnod, Tho indications are that by driving on tho roof in a north onatorly direction this rich oro will bointorscctod at a lower lovol, Tho course of the roof, as shown at tho outcrop, should onablo it to bo driveu on within tho property for a length of about half a mile. In the meautimo it is proposed to orect an olliciont assay plant in order loefleot regular assays from prorurly broken samples, and by keeping nccuiMio mid regular assay records valuable information would be furnished for subsequent mining.

IMPROVED OUTLOOK AT THAMES (Special to tho Daily TELEGUArn! Thames, this day. Considerable interest is boing manilcstoil in tho development work at present being carried out here, and shares all round Imvo rood a marked increase in price. To-day tho Caledonian Company connnoncod v\ important scheme of operations, viz, sinkin" on the reefintorsectedsomo time back, which in view of dowlopmsnts in the Cambria section of the Moanataiari should be attended witli success. Mr, Stovenson, attorney, who is at prcjont at tho Thames, is hopeful as to tho future of tho company, Tho Moanataiari tunnel is to bo pushed on as rapidly as possiblo. Tho Now Alburnia section of tho roof is reported io be looking well, and is likely to produco quartz of tho saaie excollont quality as that from which tho recent good crushing oamo, The Alburnia section must not bs confused with tho Moanataiari, as ths Iwo aro no'V placed on a separate footing. This fact is not clear to all, and somo complication aro likely to ensuonnless a distinction is made. In tho Alburnia there are promising prospects at prosent and tho purchase of tho Middle Star claim will add to tho value of tho property and facilitate work.

Wotk in tho Cambriaeootion of the Moanatairi is also important, and may, with further work, load to a dcoidod rovival in mining and development work, as well as increased activity and higher prico of shares.

Good stone is being obtained in tho Mahara Royal as tho ohute is sunk on tho picked atono to hand. If the general quartz that intervonos botween tho chutes should improvo, tho company lias excellent prospects. Tbero is nothing fresh to report as tho boring operations. The Eclipse at Turarii is said to be showing steady improvement, Tho Gold Sylvia, at Tararu, has boen pegged out. The Kuranui also shows good prospects, but I shall bo bettor ablo to judge as to the future when more work has been .done in tho part of tho mino where tho recent development occurred,

AUCKLAUD SHAREWARE!.

To-dav's Noon Call. Mr, It. Q. Maoky, Bharobroker, reporta the Auokland Stock Exchange quotations at noon to-day as follow : SALES Kucaiiui, Is 8d Caledonian, Is 3d Mnlmrn, Bid Albumin, Is 10il, 23 Victoria, 4d Golden Belt, paid .up, ils Id, cont 2s Sid Junctions, 47s Hanraki, paid up, ii 2d SKH.BRB Kuranui, ls6d Caledonian, Is od Mabara, lOd Eclipse, Is Moanntaiari, Is lOd Alburnia, 2s Victoria, 5d Sftson, 4Jd Coronation, Bid Golden Bolt, paid up ill 2d, coot Us lOil Komata, 2s 4d Pride of Waihi, Is 33 Tairuu, fa U Talisman, 7s Beach, 4d Consolidated, hud Extomlcd, 7s lid •I unction, 00i

South, 64 Waitekauri, 'ls Bnnkors, & 6d Freehold, s|d Harbour, did Hauvaki, paid 2s M, cont,, 2s 3d lIUVKBS Kuranui, Is Caledonian, Is 2d Mnhara, 9d Eclipse, lOd Moanataiari, ls6d Albumin, le lid Victoria, i).Jd Coronation, 5d Goldonßelt, paid 3s, cont, 2s 8d Komata, 2s 2d Prido of Waihi, la 2d Tairua, 2s Oil Talisman, Gs 2d Beach, 2Jd Consolidated, Is Id Extonded, 7s lid .1 unclioi:. His Od Souths, yd Wuitoknnri, 2s 2d Bunkers, 2s Freehold, .Id Harbour View, 3id Haumlii, paid 2s"ld, cont la lid