MINING NEWS.

Auckland Star, Volume XLVII, Issue 156, 1 July 1916, Page 6

MINING NEWS.

CONSOLIDATED GROUP. QUARTERLY REPORT. The quarterly report on the operations in the Wealth of Nations, Blackwater, and Progressive mines in the Consolidated Group.. Reefton, for the period ending 31st March is to hand, figures being given in the above order: Development, feet driven 463, 576. 174 (does not include crosscuts) ; feet risen and sunk (exclusive of stipes), 190J, 1364, 191 J; reef, feet exposed, 271, 255, 282 J; width in inches, 27, 151, 234; assay value, in dwts, 5.28, 14.44, 10.5; stoping tonnage (including ore won from development), 6,475, 11,225, and 10,075; ore milled, 6,460, 10,868, 9,420; cyanided, 4,113, 6,266, 5,610; yield per ton, 7.54, 9.43, and 5.88; working expenditure, £5,734, f 12,299, and £9,061; cost per ton milled, 17/9, 22/7, and 19/3; value of gold pro--* duced (including concentrates), £10,347, £21;789, £11,782; value per ton milled, 32/-, 40/1, 25/-; working profit. £4,613, '.. £9,490, and £2,723; per ton milled, 14/3, 7/6, and 5/9; capital expenditure, £253, £1,979. and £31; development expenditure, £2,240, £2,114, £1,511; experimental expenses and prospecting, £34, £58, nil. ' GOLDEN BELT. i ANOTHER GOOD RETURN. : It is quite apparent that the Golden Belt mine at Nevesville is on some good ore, as the return telegraphed to-day is an excellent one, 77 tons of ore crushed and 240 tons of tailings treated by cyanide having yielded bullion worth £2,103. This makes a total of £5,503 1/5 for the past three months. The previous yie!d was £2,082 18/11, from 120 tons, and the month before that £1,317 2/6 was obtained from 124 tons. WAIHI GRAND JUNCTION, A cable has been received from London stating that the dividend notified earlier in the week has been passed by the Board of Directors, and will be paid to shareholders on the 6th July, 1916. The amount is one shilling per. share, and will mean the distribution of £20,000. This will bring up the total paid in dividends to £190,000. NEW WAITAIA RETURN. The manager wired that 58 tons of general ore were crushed and treated for a re;turn of 161oz of melted gold, value £450. , WAIHI EXTENDED. " ' ■'■ 'A?he half-yearly report of the directors of'the Waihi Extended mine states that good progress has been made with the deepening of the shaft, and encouraging results hare been met with. Several leaders of mineralised quartz have been gone through, and may prove to be part of a defined body of quartz. The prospects of the mine are favourable, and the dlrectore would urge the shareholders to promptly pay up the necessary calls, and tuns enable the work to be continued in a vigorous manner. Messrs. .Tohn Daw£ou. and Neil McLean retire from office, and, being eligible, offer themselves for reelection. ■ . The manager reports that the main shaft is down a total depth of 1180 ft. At present the sinking is being done by contract, a contract having been let for a further 50ft. At 35ft below No. 6 level a favonr-J able change of country came in, a dlstinjjt parting being noticeable, and; since then it has been gradually getting harder, .and is now a good class of mineralised stone. At "Oft qnarU leaders were met with, and I since then the shaft has been going i through a series of leaders varying In ' thickness up to 12in. These are of mineralised quartz, and are probably part of a denned body of quartz.. The shaft is going down a considerable distance on the footwall side of any reefs previously met with, therefore this quartz formation is entirely new, and should prove an important development waen cross-cutting la commenced. The cash statement to May 31st shows: Receipts —To balance at 30th November. 1915 £584 0/9: No. 40 call, £40 9/1; No. 41 call, £504; No. 42 call, £200 7/3 calls in advance, £1 5/; expenses on forfeited shares., 16/8; total, £1,530 15«. The payments were: By mine wages. £704 10/5; freight and cartage, £S4 O/S; coal and timber, £105 13/; requisites, £32 13/5: salary and directors' exi«nee3, £62 16/: rent, insurance, and legal expenses, £44 16/4; general expenses, £44 2/S: leaving cash at bank, mine, and on hand, £252 6/3 total, £1.330 18/9. The meeting of shareholders called yes terday afternoon was adjourned irf ' week, there not being a quorum.