ALPHA G.M. CO.

Auckland Star, Volume XXIX, Issue 278, 24 November 1898, Page 7

ALPHA G.M. CO.

The half yearly meeting of shareholders was held at Mr H. Gilfillan's office, Mr A. Barnes presiding. The report stated that the erection of the battery will be proceeded with, and the directors anticipate that no further hindrances will occur. The receipts for the half year totalled £ 1641 7s Id, and the expenditiire totalled £ 1485 9s lid, leaving1 cash on hand and in bank to the amount of £"15.5 17/2, JUBILEE MINE. The levels in the Jubilee are still flooded with water, and work will not be resumed there for three or four months, probably pending inspections from. Home. Two men only will be employed in the meantime prospecting. Inspection of the Jubilee workings at Waitekauri shows that the damage from the recent fire is not nearly so great as was supposed. Only three sets in the chamber were burnt, and the engine was untouched. The wooden board in the chamber, on which the rules were posted, was scarcely browned. In the smoke-stack _ the timber was destroyed, and a considerable quantity of debris has fallen into the shaft, but that is almost the entire extent of the.damage. IvURANUI. Some taken from the reef in the winze, which did not show any gold, was .sent for assay, with the following results—blue stone: gold £4 17/10 per tort; silver 6/9; total, £5 4/7; brown stone: gold per ton, 26/; silver 2/10; total value per ton, £1 8/10. The directors now intend to break a parcel of this stone to ascertain its value by the practical test of the battery. Th» development work is being systematically carried on an,d prospects are very encouraging indeed. Brown's reef westward from the. winze looks very promising, and good dish pro* spe'cts are obtained from it by pounding. The reef is about six feet in thickness, and ore being won from the hanging wall portion is being .saved for crushing. MARATOTO. In the Payrock section the rise has holed through to the surface and a valuable block of ground has now been opened np. The reef averages three feet in width and the manager considers the ore is worth from £2 to £3 per ton. A chamber is now being cut preparatory to sinking a winze below the level to test the downward continuation of the reef. OHINEMURI SYNDICATE. Three drives are being pushed ahead northwards from this company's cross-cut on the course of three -parallel lodes, but though all carry a little gold nothing rich has yet been met. The best reef so far as yet proved is the Radical lode, which carries a fair percentage of the precious mineral. The drive on the Annie lode has been disappointing so far as the rich chute encountered on the surface apparently does not exist below; neither is the class of country the same, and seemingly the brown sandstone found on the surface and to the west of this drive has been cut off by some means. It exists^ however, in both the other drives. OHINEMURI TAILINGS. Near Mackaytown, in the Ohinemuri River, are two small islands, which are stated to have checked the floating of tailings from the mines. Mr B.! Bastings has purchased these islands from the native owners and intends to treat the tailings deposit either by the cyanide or permanganate of potash process of gold extraction. As there is a lot of metal on the islands a stone crusher will be set up to break it ready for xise. WAIHI COMPANY. This famous company has declared another dividend of 2s per share, making the 23rd paid since 1890. The transfer books will close from the 30th November to the Ist of December, the dividend being payable on the latter date, In order that the Victoria mill of the Waihi Company at Waikino may be kept running full time during the dry season auxiliary steam power ia now Being added capable of driving 50 stampers. WAIHI iRAND JUNCTION. At the Waihi West section of this Co.'s property driving on the lode at No. 2 level has been steadily continued westward, and the face is now in 9Q feet. It will be recollected a crosscut was put into this lode at 250 feet from the main crosscut, and that it showed 13 feet of solid reef. Since then another' cut has been made through the lode 26 feet, showing 15 feet of reef, the balance consisting' of quart? stringers and mullock. The hangingwall of the reef has not yet been met. In connection with, this last crosscut an important point is that the 15 feet of the reef is in country of a greatly improved nature, and the lode is of payable quality, which was not the case at the previoris crosscut. Next week a third crosscut at 100 feet from the main one will be put through the lode WENTWORTH. At the annual meeting of shareholders in the above company the balance-sheet submitted showed receipts £320 5/11. The expenditure left a credit-balance of £118 3/10. The directors' report referred to the fact that active development operations were being carried on in the mine by the option holders, the Hauraki Peninsula Exploration Company. At No. I level the Studholme reef has been drJven on to the company's boundary, j The reef averages from 10 to 24 itt. in

l;-:-.v:.-r; J -.ial..- ■.■■'■■■■J-'-'.L.'1-- ■■ 'L- ' ."-'-- .-■' ■■-.-. .-,.^Jt. 3 .-,''M-^»;"A.t4i '»-■ width. From No. 1. leve] qv^r £20 worth of bullion perton has been obtained. Of this value the cyanide and permanganate processes each saves about 90 per cent, at a small cost for treatment. The option holders have expended; £3350 upon , the property, exclusive of machinery. All the of^cers of the company, including directors, auditor, and manager, are acting without remuneration.