THE GOLDFIELDS.

Auckland Star, Volume XXXVI, Issue 13, 16 January 1905, Page 2

THE GOLDFIELDS.

J SLLiBEMABKET. j A ran took place on Old Alburnia shares this morning, owing to rumours iof gold haying been met with. At the j morning call sales were made at 2/9 and j 2/10, but by noon the last sale was at [ 1/9, with further sellers at the same ! rate and no buyers above 1/8. May | Queen Extended shares moved up today in consequence of some very good stone being on exhibition at the company's office. Sales were made from 1/2 to 1/5, with further buyers at 1/4 and no sellers under 1/6. New Eclipse shares also firmed in price to-day owing to improvement reported from the mine. The market opened with sales at 1/6, but by noon lines were sold up to 1/8, with further demand at the same figure. New May Queen's were easier, being sold at 1/1, and Waiotahis changed hands at from £7 to £6 15/. waihi consols. (By Telegraph.—Own Correspondent.) WAIHI, this day. The Diamond Drill Co., who have a contract with the Waihi Consols G-M. Co. for boring to a depth of 1250 ft, are making excellent progress with the drill, ■which has now reached a depth of over 900 ft, leaving little over 300 ft to complete the contract. The country being passed through is firm andesite and a good compact core is being obtained. WATTTT SOUTH. (By Telegraph.—Own Correspondent.) WALHI, this day. During the week the Diamond Drilling Co. commenced boring on the Waihi South Co.'s ground. So far satisfactory progress is reported. Mr Winstone, one of the principals of the Drill Co.'s, is at present supervising the work, and Mr Dalby is in controL WAIOTATTT. The manager wired this morning:— 'Tn squaring up the bottom of the drive secured 2ewt of picked stone." MA TIARA ROYAL, In the workings north and sonth from the No. 2 winze the reef continues about 4ft in width, showing an excellent class of mineral and gold frequently in the hanging wall part of the lode. MONOWAI. Laying the air-pipes has been completed to the mouth of the tunnel, and the county workmen are repairing the road to enable the air compresser to be carted to the drive. The following tender has been accepted for driving 1000 ft in the Monowai mine:—G. Harley, )&/&■ The highest tender was £2 15/6 per foot. NEW MAY QUEEN. The work of repairing the level on No. 4 lode is not yet through the breakdown in the level. Owing to the wet nature of the old stowings it has been rather difficult to keep it up. The level appears to be in a collapsed state for 20ft farther. There are still about 20ft on the branch leader to clean out. NEW ECLIPSE. Stoping operations have been continu.ed north and south of the winze. The i north face has been extended a further • sft, and the lode here is 4ft wide. It • is of a very promising appearance, gold , showing freely at each breaking down, • and 401b of picked stone were secured. . The lode in the south face is 2ft wide, i and has also shown gold through the i ore when broken down. The whole of ; Vhe ore from these workings is being sent ! to the battery, where crushing has been I started. On Saturday last the manager 1 secured a further parcel of 10ft of pick- ; ed stone from the intermediate drive, i gold being left in the face. I NEW SAXON. I The drive on the new reef has been | extended 25ft for the week. For the ■ first 12ft of this the country was very . much broken, but is now solid again, ) and on breaking down the leader this I morning some nice dabs of gold were seen through the quartz, which is high[ly payable. The face of the drive is , now about over the channel of good I country that crosses the No. 1 and No. 2 Cardigan leaders on the No. 4 level, and where Lucas and party got some very rich specimen stone. \ OLD Since starting work after the holidays the contractors for driving the main \ tunnel in the Alburnia mine have driven 25ft through the same class of sandstone. The total distance driven since starting the present contract is 127 it. NEW MOANATAI&M? '* A contract has been let at 13/6 per foot for driving 100 ft on the course of the Cambria reef, towards the Walotahi boundary. The contractors are making good progress with the work. Three feet of the hangingwall of lode is being broken out in the drive, and so far none of the quartz is being saved for treatment. In the workings from the winze below No. 3 level the drive ia being continued on the reef to connect the tributers' winze with the winze recently sunk on the mineralised band of stone. The quartz broken from here, although showin" no gold, should be of a payable quality. There will be about 15ft to drive yet before connecting the two workings. On the level two men are employed driving eastward from the main crosscut on a small leader, which shows gold very freely. This vein is small, hut running through splendid country, which may lead inlc something better. Tire present output of ore from the mine not being sufficient to keep the battery going, crushing will not be commenced until an accumulation of quartz is obtained. MONTE CRISTO AND MAYO CLAIMS. (By Telegraph.—Own Correspondent.) COROMANDEL, Saturday. Tributers are working on the boundary of these claims, and are meeting with encouraging prospects. Allen's party having cut a reef showing good gold in the quartz. The reef has been worked by cutting about Bft deep and two chains long. GOLDEN SPARK. (By Teleirraph.—Own Correspondent.) COROMANDEL, Saturday. Operations on the leading stope are now in hand. Progress is rather slow on account of the broken nature of the country between the new and old workings. Very fair crushing ore is coming to hand, and quartz from the leader shows gold freely.