MINING SUMMARY.

Auckland Star, Volume XXXVI, Issue 201, 23 August 1905, Page 6

MINING SUMMARY.

A good deal of interest has been manifested since last report, in the progress of development works in the Waiotahi mine, Thames. It is now nearly a year since the run of gold was.discovered in the Waiotahi reef at the- _*o. 4 level, and since then regular monthly dividends have been $ aid. Some month's ago the shaft was deepened in order to enable a No. 5 level to be put in to cut the reef lower down. This was done, and the reef met with. As the gold wa_ got in the level above in the ___ngingwall of the reef, great interest was felt when the reef had been penetrated 10ft to lift. When, however, sandstone was encountered, shares fell rapidly, only to rise again when stringers of quartz were cut showing gold. Whether these will prove to be the hangingwall spiit up. or whether the rich mineral band is still further ahead, still remains to be prov" ed, as the No. 5 level is not yet underneath where the winze was sunk on the gold from the level above. In that winze the reef is rich, and should it continue to the next level, mining will be lively at Thames. In the Kuranui-Caledonian mine, which adjoins the Waiotahi. the level is now approaching the point where the Cambria reef should be intersected, underneath w%ere tribute parties obtained nearly £5000 worth of gold during the last few years. Should the chute of gold be proved to continue downwards to this level, Kuranui-Caledonian shares will make a sharp advance in price. May Queen shares have risen in I price during the past fortnight, but so far the reason has not transpired. In the Victoria mine, driving for the Waiotahi reef is proceeding, but there is still some distance to go to cut that lode. Talisman Consolidated shares firmed in price during the past fortnight, latest sales being at 12/4. The return for the last month was £9864 from 4150 tons, and the developments in the lower levels are reported to be most encouraging. The N_Z. Crown mines had another return this month of £4254, and shares firmed a little in price. The Talrua Broken Hills Company crushed 369 tons of ore for a yield of £1035 10/. At Waitekauri, it is reported that an important discovery has been made, but so far few particulars have been received. It is understood, however, that a new reef of good size has been discovered, and that the quartz is payable. From a mine called the Scotia, at Waitekauri, some good trial parcels have been crushed, U tons having yielded £60, and a cwt. of selected stone returned £38 5/7. Waihi shares firmed considerably since last report, transactions being reported as high as 114/. Waihi Extended shares have eased a little, but Consolidateds had a little inquiry owing to the Waihi Syndicateholders of an option over the property having arranged with the Grand tion Company to join in sinking a shaft with the object of picking up the famous Martha lode on the flat.