MINING SUMMARY.

Auckland Star, Volume XXIV, Issue 140, 15 June 1893, Page 9

MINING SUMMARY.

(FROM OUK OWN CORRESPONDENT.)

Thames, Wednesday. One of tho most gratifying events of tho past month has beon the declaration of a dividend of one shilling per share by tho Waihi G.M. Company, whose headquarters are located in London. The announcement came to hand by cable yesterday, and was on every hand received with great satisfaction, as never was success more richly deserved than in the case of tho Waihi Company, who have expended thousands of pounds in systemabically developing the property and in bhe erection of suitable and efficient crushing machinery. The result of operabions for the 28 days ended the 3rd inst. was exceptionally good, as 1,545 tons of oro produced bullion of the valuo of £5,854. An average of 57 stamps was employed. The ore still being won from, tho Martha lode is of excellent grade, and there is overy reason to believe that the enterprising shareholders will now be rewarded by regular dividends. A shaft : 175fb in depth is about to be sunk in the Martha section of the mine. The last crushing from the Hazolbank Company at the Thames gave the splendid yield of 2960z gold from 67 loads of quartz, and a dividend of sixpence per share was declared yesterday. The prospects continue excellent, and in the course of his last report the manager says : "The rise from No. 3 lovol has now been timbered up and passes and ladders pub in.- The ground in the level underneath the rise being very heavy, it was found necessary to put in a few sets of timber to strengthen the present ones. This has now been completed, and everything here is now in good working order. A portion of the lead left stripped in the wiuze was broken down, and although no gold was observed in the stone, tho mineral indications wore all tllat could bo desirad. The western drive on Darby's leader has now been commenced from the top of the rise, which will be termed the No. 2 intermediate level. Stoping operations are proceeding as usual on Darby's about the No. 1 intermediate level, and 201bs. of picked stone were obtained from hero in the beginning of the week. The load still continues to look well, but there is little change to report from here since my last. A second stope has been started on the cross-reef eastward of the winze, above the No. 2 intermediate lovol. The reef is small at present bub ib opens oub a few feet further ahead. Driviag waa commenced to-day from Walker's drive at No. 3 lovel, on what, as I mention before, would prove to be a portion of tho Caledonian No. 1 reef.

The Now Alburnia Company's mine does not present much change to report, except that there is an improvement in the reef in the western drive at the 70fb level. The Cambria and Waiotalii aro producing monthly returns which slightly more than repay expenses, while the prospects of the May Queen, Moanataiari, Victoria, Orlando and others are fairly satisfactory, but there haa been no change of importance to chronicle. The back country mine, particularly that promising area botween the heads of the Turn and Tararu Creaks, is claiming a good deal of attention, and more genuine and systematic prospecting is proceeding than has been the case tor some time past. Messrs McDormottand party have unearthed several large reefs from one or two of which specimen stone of excellonfc quality worth at least an ounce of gold to the pound—has been secured, and steps are being taken in the direction of obtaining Government aseistance towards the erection of a couple of public crushing plants in the neighbourhood. Another party of prospectors—W. Campbell, Tetley, and others—have also made an excellent discovery in the samo locality, and it was decided to have a trial parcel of 25cwb treated at the Moanataiari battery. The work of getting the quartz into town, however, was one of great difficulty. It had first of all to be carriod by the prospectors on their backs a distance of fully a mile, from whonce it was packed on horseback to Puru, the creek having in the journey to bo crossed no less than 32 times. The total distance was thus six miles, after which the ore had to be carted into town to the battery. The result waa that 7oz 17dwt 12gr of molted gold were obtained | for which the Bank paid £2 ISs per ounce. The yield is a most satisfactory one, and, as the prospectors say, if they had a battery | on the ground, they would " make a small fortune " out of the claim, but as the cost of getting the quartz into town under existing j circumstances is £5 a ton, the ore ro- ! quire? to be of exceptionally Rood grade to pay. The rear from which ihe crushing was broken out lias been j exposed to view for a considerable distance by trenching, and is composed of 8 or 9 leaders, a^rsirofratiiifj a width of 5 feet, nearly all of which is saved fcr treatmont. I It will thus be seen that slowly but j surely the people are beginning to realise the necessity that exists tor developing the immense area of back country if the goldrield is to increase in prosperity, And the inevitable result will be to considerably enlarge the field of operations. The movement for tho prosecution of operations at depth upon the flat about Grahfttnetown dc;oa notappeus' to tiavo been allowed to sin!< into oblivion, as haa unfortunately only too frequently been tho caso heretofore, us tho shareholders of Iho S:u:on Company ha-.o passed a resolution in favour of increasing tho capital by tho isauo of 200,001) ntiw Eharea paid up to 3s 2d, the object being to acquire adjoining mines when a favourable opportunity occurs. Another mooting is to bo held its Auckland on Friday to confirm this resolution. Taken altogether, the outlook is somewhat nioro favourablo than it waa at the Close of last month.