THE GOLDFIELDS.

Auckland Star, Volume XXXVIII, Issue 175, 24 July 1907, Page 3

THE GOLDFIELDS.

SEABEMABKET. A good many transactions took place to-day in mining shares on the Exchange, but generally speaking prices did not show much improvement upon yesterday's quotations. Talisman Consolidated shares changed hands from 43/ down to 42/3, after which free sales were made at 42/6. N.Z. Crown shares did not improve in price in spite of the encouraging report received as to developments in the mine, and sales were made from 7/6 to 7/4, with a further parcel offered at the latter price, and no buyer- quoted above 7/Tairua Broken Hill shares sold at 5/6 and 5/7, and the latter price was also accepted for Waihi Extendeds. Waihi Consolidated shares changed hands at 1/3, and Junctions were wanted at 39/, Waihi Company's shares were firmer to-day, but no sales were reported. Komata Reefs advanced in price, sales taking place today at 1/6. The amalgamation of the Old. Hauraki and Bunker's Hill companies being now pratically an . accomplished fact caused shares in both these companies to firm a little in price to-day. Waitangi shares advanced from 3/9 to 4/6 yesterday afternoon, owing to a satisfactory telegram being received from the mine, and to-day at noon 4/ was the buying quotation. "Waiotahi shares sold from 12/6 to 12/, free sales being made at the latter figure. Golden Belt shares again moved upwards, sales being made to-day at-1/9 and 1/10. Amongst investment stocks, Taupiri Coals again s-nanged hands at 20/3. Northern Steam, contributing issue, at 7/6, Standerd Insurance at 22/3, and Auckland Trams, ordinary, issue, at 24/6.

WAIHI GRAND JUNCTION.

£6300 FROM 3559 TONS.

The output of bullion from the Waihi Grand Junction mine for the period ending July 13th was £6300 from 3559 tons of ore treated. This brings the total output up to £55,532 14/9 since crushing started last October. Appended are previous returns; — Bullion won. October to December, 190S £13,794 12 1 In 1907— January 26. 1907, 2426 tons.. 4,729 7 5 February 28, 1907. 2407 tons.. 4,451 0 0 March 23, 1907, 2676 tons 5,373 8 10 April 20, 1907, 3442 tons 7,955 12 3 May 18. 1907, 2856 tons G. 400 O 0 June 15, 1907, 2906 tons . 6.528 14 2 July, 3559 tons 6,300 0 0

Total to date £55,53 - _' 14 U

WAITANGI.

The manager telegraphed yesterday afternoon: —"Strong colours of gold in the hanging-wall portion of the main reef at the low level."

NEW JUNKER'S HILL.

An extraordinary meeting of shareholders in the New Bunker's Hill Gold Mining Company was held in Mr. C. A. Stubbs' office, at 2.30 o'clock yesterday afternoon, when Mr A. Heather (chairman of directors) presided. Resolutions were confirmed, winding up the company voluntarily, and authorising the liquidator to transfer the property to the Old Hauraki Company upon the terms previously agreed upon. The chairman said the directors aa a Board would now ceaseOn behalf of the Board and himself, lie thanked shareholders for the confidence reposed in them. The directors had throughout done their best for the shareholders. They fully appreciated the loyal work of the secretary and the manager.

Mr. H. Green said the shareholders should not separate without thanking the directors for their past services on keeping the company alive at a critical time. Mr. Leighton seconded the motion, which was then agreed to, and Mr. W. S. Whitley returned thanks.

N.Z. CROWN" MINES.

VERY ENCOURAGING DEVELOPMENTS.

(By Telegraph.—Own Correspondent.)

KARANGAHAKE, this day.

The prospects at the N.Z. Crown Company's mine, Karangahake, continue to steadily improve, and some fine blocks of ground are now being opened up. The main lode has been recovered south of the fault, and provee to be a strong body of ore of good value. The drift, godng forward on its southerly trend, is penetrating a. new and untried area. The new reef development has fully 11,000 tons of ore ready for stopijg, and, taking the mine on the whole, it has increased very much in value. This has been brought about principally lately, owing to the discovery of two new lodes. The discovery of one of the new lodes was made in the crosscut projected in a westerly direction from the main adit, known as the Waitawheta main haulage way. At a point 300 feet west, the ore body was pierced in a splendid class of country, and proved to be a strong vein, measuring between 4 to 5 feet wide, carrying values from £2 to £3 10/ per ton. This lode is intact from end to end of the mine, and has a large area of country standing intact overhead. The discovery is looked upon as a very valuable acquisition, and opens up a new mine, in addition to what the company has already developed. Another new lode which the "company discovered some time ago traverses country lying towards the east of the lode, known as the new reef. This is also a very fine lode, and contains payable ore of very good grade. The main uprise, which has attained a height of between 500 to 600 feet above the Waitewheta level, will reach the required height in another 130 feet of rising. It is the intention of the management to commence operations upon this new lode as soon as the uprise is through.

WAIHI CONSOLIDATED.

(By Telegraph.—Own Correspondent.)

WATTTT, this day.

Mine operations have been suspended by the syndicate who held an option over the property. It is not yet known whether the Consolidated Company will proceed with further prospecting work, or wait until the Syndicate's term of option over the property is complete, ■which will be at the end of the current year.

MINE MANAGERS' BBPORTS.

Rising Sun. —The crosscut into the hanglngwall from the bottom of the winze has been extended a distance of oft for the week. A leader about 41n In width has been cut through, and should junction with the footwall reef, some little distance Eonth. The air-shaft Is down 12ft. A shed has been built over tbe shaft co that the men can work In wet weather.

Kapowaij—The low level ha* been extended lift tor the week, making the die-

tance now driven 342 ft. The ventilation is now fairlyfeood. In the No. 2 level there is no change to report. The battery return, for the week is 490z of amal2am.

May Queen Extended.—Work is being pushed on as rapidly as possible, and the ore from Hansen's winze continues to show strong dabs of gold, and looks very promising. The lode ia well defined, and going down in splendid sandstone country. Hansen stoped out the lode down to 20ft on each side of the winze, but we are now getting below this into solid country, and can open out as soon as we get down some feet further. This work looks so promising that I think it warrants my running the pump a few hours a day instead of drawing it from the shaft at present, as we may strike good stone in Hansen's winze at auy moment by present appearance of quartz. McGregor, who owns the small battery adjacent to our tips, has applied to be allowed to treat these tips.

Tairua Trinhmph.—Since the last report mc crosscut lias been extended a further distance of Bft. The hangingwall of No. 2 reef has been cut and driven through a distance of 4ft. The quartz is of a very kindly nature, and shows a fair prospect when washed off in the dish. Next week it is intended to start driving for the which is a distance of 25ft west. The air at present is Tery light. When the winze is intersected it will give a good connection to tbe top level. A. start has been made to drive on the Jso. 1 reef, and 61b of picked stone were secured, and there are good dabs of gold through, the general ore. This reef looks very promising, and should open up a good block of ground. Stripping the reef is proceeding. The manager intends to break down next week, when lie expects to meet with good results.