THE GOLDFIELDS.

Auckland Star, Volume XXXVI, Issue 206, 29 August 1905, Page 2

THE GOLDFIELDS.

STTATtPT\TA^KFT Waiotahi shares firmed in price again to-day. At the late call yesterday sales were made at 73/, 70/, and 72/, but to- i day transactions took place from 73/ to 75/. May Queens were not so strong, being sold at 2/11 and 3/, and KuranuiCaledonian shares have showed a decline, sales being made at 2/9. while "rights" sold as low at 1/2 and 1/1. A transaction took place in Waihi Ex- j tendeds at 5/6. Vievtorias wtre a shade j firmer, in sympathy with Waiotahis, but Moanataiaris showed no improvement, j In standard lines the only change of note was in Auckland Gas shares, which sold at the late call yesterday at 292 6, and to-day buyers still offertd 290/. Parker-Lamb timber shares were also in request at 24/, an advance of 6d. WAIOTAHI. The manager reported to-day: "In the winze being sunk below No. 4 level the mineral band has been somewhat disturbed, but there is every appearance of it making again, and although diminished in thickness, it is still carrying good dabs of gold. Very little has, however, been done in the way of sinking during the latter part of the past week owing to the winze requiring to be timbered. This is now completed, and sinking again resumed. No. 5 level: In my last report I mentioned that a quartz formation was showing on the eastern side cf the crosscut. This, I have no doubt, will prove to be the rich hangingwall portion of the reef, and on breaking this down on Friday last 301bs of rich stone were obtained. None of the quartz has since been broken out. and stripping the reef for a further breaking down is now in progress. As the small flat leader I reported is going off at almost tight angles to the main reef, it is not my intention to follow it at present, as I am anxious to push on the drive going east on the main hangingwall portion to a point under the winze which is being sunk from No. 4 le\el. At No. 6 level I the crosscut is being pushed on, and is jnow in a distance of 128 ft. A favourable class of country is being met with, both for gold and speedy progress. In the crosscut being driven from the Kuramii- | , Caledonia good progress is being made, | and is now in a distance of 22Sft. At this j point a flinty formation came in, but | it is now proving to be a reef of considerable dimensions. In the bottom of the drive the quartz has been penetrated for 2£ft, and there is quartz still showing, but so far we have not seen gold. During the past week work in the J stopes above No. 4 level has been confined to filling in. which I expect to get completed to-day. Cleaning up for the month will take place on Friday next." (By Telegraph.—Own Correspondent) THAMES, Monday. At No. 5 level the gold-bearing quartz looks as well as ever, and the hangingwall will be stripped and the reef broken down about Wednesday. In the winze the mineralised band appears to be making as slrong as ever on the footwall side of the winze, and the indications are that a valuable b'.ock will be available. It is about 45ft on the underlie of reef from the point where good gold was met with in the winze to the point on the level where Jnld-bearing quartz is standing, so that the possibilities are great indeed. The directors of the company will pay a visit to the mine on Wednesday. It is probable that the gold bearing quartz at No. 5 level wil] be stripped and iett standing until that day, when a breaking down will be made in the presence of the directors. WAIHI EXTENDED. (By Telegraph.—Own Correspondent) WAIHI, this day. Messrs Bailey and Barker, directors of the Wa'ihi Extended G.M. Co., visited the mine to-day, and it is understood the visit may lead to important developments being immediately commenced with a view of intersecting No. 2 lode previously cut at No. 2 level, also N. 1 lode, which may be either cut parallel to No. 2 lode oi on the south side of the main shaft. (Bj Telegraph.—Own Correspondent.! WATHI, this day. As a result of a conference between the directors, the mine manager and the engineer of the Waihi Extended G.M. :Co., the line of action which most pro- . bably will be adopted will be the sinking of a winze on No. 2 lode, where it was previously cut on the No. 2 level, with the object of proving the course of the lode and the dip, if any. I understand that the main crosscut will consoquently be discontinued pending these I developments. Late reports from the mine state that a change has taken i place in the crosscut, and there is yet I a possibility of the lode being cut fur- ! ther ahead. ivURANUI-CALEDONIAN. J (By Telegraph,—Own Correspondent.) THAMES, Monday. After the Cambria reef, which has just been intersected at No. 4 level, has been penetrated, it will be driven on north and south, as there is 150 ft to go to reach the Moanataiari boundary. The possibilities are considered to be most assuring. It will be some days before the reef is stripped ready for breaking down, but. as from No. 3 level, the tributers came down on good gold, the prospects of striking gold-bearing quartz are hopeful. MINE MANAGERS' REPORTS. New Una.—The No. 0 and No. 10 stopes have been continued, and more attention paid to examining the quartz foi picked stone, as it is very much oxidised, but no improvement has taken place. The main :usscut is peus-trating country of a very kindiy description of late. Numerous i.iaek mineral veins are making their appearance through the sandstone. It has been decided to work with two shifts at the crosscut. Walmangu. —During the past week the low level crosscut has been extended a further distance of six feet, making the total driven 59 feet. The most difficult part of the level has now been completed. The country in the present face Is all that could be desired, and is Improving as the drive advances T.iwards the channel of country thromrh which the course of the lode traverses. Golden Belt.—The wtnze at the road level Is down 25 feet. For Ihls depth the lode has carried down perpendicularly, and gold has been seen every day In the ore. At the hottnm of t>e winze the reef shows a slisrht sign of dipping towards the east. The low level has been driven a fnrt-er distance of 18 feet and last Friday a break camp across the face, disturbing the reef. From a snrvpy mnd» hy Mr B. F. Adams and tUe position and appearance of* th.p lode driven on in the low level, the manatrer considers this reef Is not the seme as the one being sunk upon in the wtnze.

New Foor-in-Hand.— Tbe new low level has been advanced 10 feet for the week, the country remaining much the same as described in last report, which is a decided ! Improvement upon what we had to contend I with some weeks ago. Three small stllng- I erg of quartz hare been met with daring the week: the last one cut looks rrmarkI ably well, though carrying no gold. All Indications point to cutting a reef shortly. i Sunbpam (Great Barrier).—A contract has been let for the completion of the battery. The building is already up. and most of the machinery is on the ground. The time allowed for completion is three months, and ' ! the contractor has to rar. the i mill for one month after completion, so that I nil mnehinerv ma-w be test d. This enm- | pany has been testing- and developing the . piive for some two years now. and fie I directors hive decifled oi this step, enn- | Mri<Tlr<s fbst the nrosripcts of the mine j have warranted it for some time.