HAZELBANK.

Auckland Star, Volume XXVI, Issue 197, 19 August 1895, Page 4

HAZELBANK.

The following cable was receivedfrom Mr Melville 4abe on Saturday afternoon, and was posted on the Exchange early this morning : —" Good progress ia being made. Have reserved capital to gain possession of surrounding ground."

Tho manager reports that the drive on the reef to the westwardiof Kelly's crosscut at the No. 1 level is being pushed ahead and there is an improvement, as 151b ot picked Btone were obtained this week from the hangingwall portion of the, t reef. At present the reef is nob [ well defined, the greater portion being sandstone with ribs''of quartz running through ic. As the ground is rather heavy ib will require to be timbered. Should the gold go down there will be no difficulty in opening up a block ot ground under this drive from the No. 1 intermediate level on Darby's. Beyond seeing colours of gold, nothing of importance has been met with in the rise on feho cross.reef above the No. 2,intermediate. Crushing commenced today.

A movetaens is on foci; oo amalgamate these properfaiss. It vvaa stcled at a meeting of dirs.ccu?:', in iiio former company that] a gentleman *wtß ready tc |>iaco fch'o combined propert."ci on fciio London market. Mr H. GilfiUfan, .i-^'^retary oi tlis Siiotover Company, ivaa bcos> iu-:tiruc*nd to approach the ivanho-3 fisrefitora with-the object of amalgamating the two micw.

SOI'HIA.

This liasnsed hoidiii.'r-vvtiH pracjod on the local market to-day. >!ie pr-.-ipectns being left with. Mr K. Gifeh'j.a, jui'V. The area consists of 82J acres i.v; Wail-rlca^r? eaefe of the Juliilee Company;^ orofmrby. The owners/interestl has !.;ae& si vi^cj-i into 60 fibares rjf 1,000 .icri-; ivvclj. ' ha ■ romoters retain i'JO shares, and ?>') \versi offes &d to the public, at £10 &!x^<- The holding takes in the Diamond' d-ar ~ how., which large boulders have at dou* times be-".n taken and have essaya.' »c thf rr.fcH of XIOO per ton. One stone i■•'■stained sotnfc venre ago by a miner yielded ■ gc;: ■:• '• gold, oho weight of the sbonii bsiujj; M: . j'.h is thought the ree/. which ahtd iho iboaUUoi's mast-be in Sophia grounc!.

WAIH[-SOUT'I i 3\ riTEFDED,

i Shares in tliia ayndUiifco ar*; botng vapidly fjaken up. t RANG B'£mj. This licSDssd ho!dirr> r^iaiStijeAsd ab Tapu and comprisss 20 B'jvev 'II > owners', interests hava been diviafd i')>ko 60 shares, of which 30 hfv?o bean ofiwed to- s'feo public. at £20 each.