WAIHI SILVERTON.

Auckland Star, Volume XXX, Issue 86, 13 April 1899, Page 7

WAIHI SILVERTON.

IMPORTANT DEVELOPMENTS

i Shares in the Waihi-Silverton Gold Mining Company more than doubled lin price on the Exchange during the month owing to the news Mat the prospecting operations in the western section of the property had alI ready given satisfactory results. The [winze started from the old adit level st \ the eastern base of Union Hill, soon penetrated a good class of country, and at 41ft down struck the quartz stringers met with above. They had the same general dip and a slightly more northerly strike. Compared with the stringers in the level samples of the latter, as was to be expected, only gave low values, the, average being 17/6 jji the winze. The veins had consolidated into a compact lode, loin to 18in thick, of a ruibbl.y nature, and not very promising-looking. The first four sample, assays, however, gave the satisfactory average of £6 10/ per ton. As the winze was carried down through the vein further samples were taken, and the general average of 16 assays to date is £4 16/8. Half-a-ton of the quartz was then put through a two-stamp battery at the mill, and the assay from the general sample from the lip of the mor-tar-box gave a value of £4 per ton. The country is a kindly one, and the new find is now being energetically followed up. During the past week thera has been considerable enquiry for Waihi Silverton shares owing to the discovery of a new reef of a payable description. To-day 10/6 was offered without sales resulting, as holders asked 12/6. The return from the mine this month is also more satisfactory, as 1,000 tons f ore were treated for a return of 6900zs of bullion, of the total value of £1,521 9/8, whereas the previous return only amounted to £1,283. .The return for this month is the largest since Detcember, 1897, when 1,150 tons of ore yielded bullion worth £1,554, so that it is eident the general average value of the ore treated is improving. During the first part of the month there was a want of water power, and the heavy rains at the end of the month resulted in the freshes on the river, which caused a considerable reduction^ in the stamping power, and so curtailed the tonnage milled. The flood also did damage to the high-pressure water race dam, which is now undergoing repair. The mine is looking well, as good ore has been carried up from the level in the rise from No. 4 north. Driving has been resumed in No. 3 north, as the No. 2 rise in this level has gone up through good ore, which appears to carry a chute dipping northerly, and which should therefore, be cut in the drift. In the new strike, which has been called the Mascotte reef, the lode has been cut again at the level which has been opened, and corresponding with No. 1 level of the Silverton workings. Where cut, at the bottom of the winze, it is two feet thick, and of the same character and country.