THE GOLDFIELDS.

Auckland Star, Volume XXXV, Issue 201, 23 August 1904, Page 2

THE GOLDFIELDS.

I ON '"CHANGE." The market for mining stock continues fairly lively, with frequent fluctuations. For instance, at the late call yesterday afternoon New Moanataiari snares ran quickly down from 1/9 to 1/4, but at the \ first call to-day 1/8 was reached, and ' by noon up to 1/9 was paid. KuranuiCaledonian shares sold as low as 94d* yesterday at the last call, but 1/1 was paid at noon to-day, with free sales of good sized parcels. Talisman Consolidated shares sold up to 8/3 this morning, but were subsequently offered at 8/, with buyers willing to give 3d under that price. Golden Belt paid-up shares I changed hands at 3/1, and were still wanted at 3/. Coroinandel stocks were a little easier today. Bunker's Hills .sold at 2/9, 2/7 and 2/8, being still, wanted at 2/7, while Old Hauraki con-; tributing shares changed hands at 2/6,' at which figure no doubt more could | have been placed, as buyers offered 2/5. Buyers came in to-day for Coronation shares at 4d, this stock being quoted or the first time this morning. Waihi .stocks generally met with fair request, but the only sales reported were Pride of Waihi, at 1/1. In Standard lines, Bank of New Zealand shares were wanted at 108/6, and New Zealand and River Plate shares changed hands at 25/6. Hikurangi Coal firmed up to buyers at 13/, but other lines were unaltered.

MAORILAJSDER.

(By Telegraph. —v w n Correspoutient.V WAIHI, this day. Work in the Maorilander claim, Waitekauri, under the supervision of Mr. J. M. Haslett, is progressing favourably. A start has been mude to sink on No. 1 or the main lode, and two samples have been assayed at the Waihi School oi .Mines with the following result: No. 1, lTdwt 23gr of gold, and 16oz9dwt 10gr of silver, value per ton £3 14/9; No. 2, Joz 2dwt 21gr of gold, and 12oz 2dwt lGgr of silver, value per ton £24 li)/9. This is considered very satisfactory, as the last sample was taken from two feet below the floor of the drive, and the reef is going down strong underfoot, which proves that all the good stone was not taken out in the old days. It is intended to take a few tons of ore from here to get a more reliable test, and if this proves satisfactory, an effort will be made to get more capital for the purpose of continuing the low level and erecting a small crushing plant.

WALHI EXTENDED.

; 'By Telegraph.—own Correspondent.) WAIHI, this day. With reference to the decision of the directors of the Waihi Extended mine to sink and drive on the reef, those in a position to judge consider that the method the -wisest to adopt under the circumstances. The size, course, and quality of the lode will thus be proved before sinking the shaft becomes necessary. Our Waihi correspondent telegraphed to-day that rumours were current there yestprdav and to-day to the effect that another reef which was anticipated to be the main Martha lode liad been cut in the Extended drive early on Monday. As there is no mention of such discovery in the mine manager's report, and also as there has not been any •Tiovement on the market, it is fair to assume this is only a rumour, the wish probably being father to the thought. NEW UNA. The works in progress at present are somewhat similar to that previously reported, with the exception that No. 3 stope has been carried along to the end of the working, and the rise put up to No. 4 stope. Although the reef in No. 3 and No. 4 stopes looks kindly, the leader i? disturbed. In the drive the leader shows a slight improvement. BIG BEETLE. A tribute hae been let to Mr J. W. Callaway in the Big Beetle mine at Gumtown. This is consequent upon the exhaustion of the patch found on No. 2 leader, which yielded £1740 of gold. | ma:sara royal. The manager, Mr Martin, reports that he has pumped out the water from the winze below the bottom of the level, and cleaned out and timbered the winze wheie required, to make it safe "to work underneath to a depth of 22 feet. The Cameron pump Sias been lowered, and the winze sunk 15 feet, making a total depth of 37 feet, through a good strata formation. The xeef is about 3 feet wide, and shows f\>Ld frequently in, the ore broken out, fro Ati which sib of picked stone were selectedL

BUNKER'B HILL. The manager of the Bunker's Hill Gold Mining Company's mine reported under yesterday's date that he broke down the reef again, and that, though no specimens were obtained, good gold was seen freely in the quartz. Under Saturday's date the manager reported: —Sinking is still being- continued in the winze on the 4in leader. The distance sunk since we started s'nking two weeks ago is 10ft, total dlepth of winze 63ft. The leader continues to look well. When last breakiing down' a small quantity of picked si-one came to hand. The leader varies 'front lin to 3in in thickness. The amoiunt of specimens won for the week was 151b, making the total now in hand 301b. The country ia hard, but of a favourable nature. HATJRAKI FREEHOLDS. The manager reports from the stopes on Anderson's leader good crushing dirt continues to be won, in which colours of gold are frequently met with, and occasionally a little picked stone obtained. The reef, although fluctuating in size, will average 6in in thickness throughout the three stopes now in operation. Rising for a No. 4 st.ope is in progress. The drve west on this reef is being extended. The reef is somewhat disturbed by crossheadsi, and at present is of a puggy nature. The crosscut to intersect this reef at a lower level, to unwater this block and enable sinking to be resumed, is being driven with all possible speed under the circumstances. The face is rather hard to bore, but shoots well, and the work is well in hand. NEW MOANATATARI. Steady business continues to be transacted on the Exchange in the shares in the New Mnanaitaiari Co., due to the fact that I the crushing is reported to be shaping

for a very satisfactory return. As the ore was taken from a reef in the Cambria section it is hoped that the famous lode that paid so well when worked by the Cambria Company years ago, has been picked up again at the other side of the aJde, and is carrying a continuance of the rich shute of ore. Only about 53,000 of the 100,000 shares offered to the public, were taken up, so that the balance remains for the benefit of shareholders.