MINING NEWS.

Auckland Star, Volume LVII, Issue 137, 11 June 1926, Page 4

MINING NEWS.

LUCKY SHOT. The following is a copy of an urgent fniegram received before noon :—Strong dabs and cclnurs of Gold Reuben Parr reof driving south, reef wider, drive hangtngwall not exposed yet." At the noon call sharee sold at 1/9 and 1/10, as against 1/6 earlier in the morning. MINE MANAGIRS" REPORTS. Ohinemuri.—The mine manager reports that the south pastern drive has during the past fortnight been extended 28 feet, ranking 1805 feet from the Silveretream crosscut. At 1777 feet a curve eastward was made in the drive, and quart* was encountered which proved to be portion of the main reef system. The drlvo wbr continued diagonally and at 1796 feet small streaks of sulphide ore appeared. The next round of holes fired revealed a band of •wlpbide oro in the last two feet. This is still showing with no sign of the footwall. The importance of this development ifs in the fact thnt the drive is nppronehng a point corresponding with that where high grade ore was located at No. 2 level, 200 feet overhead, and an improvement can be anticipated with the progress of the drive southward. The next round of holes will be fired on Thursday. Majestic.—The mine manager reports thnt the south drive on the Maratoto reef is in a total distance of 1839 feet from the main crosscut. From 1769 feet to 1814 feet the improvement in the ore wae not maintained, and values only ranged from 1/11 t(f 5/7 as shown by assay results. At 1820 feet another change in the character of the ore was manifested and the present face shows a large, promising body of ore interspersed with sulphide veins. A fresh contract has been let to the present party for driving a further 000 feet, which should place the drive wel! under the United chute. The auxiliary water scheme is almost completed, and a considerable reduction of cost may be anticipated through the reduction in the consumption of coke for the suction ea» plant. Moanatairi.—The report of the directors of the Caledonia, Kurnnui, Monnataiari Consolidated Company has been forwarded to shareholders. It states that the prospects of the mine have greatly improved of late, the country in both faces being all that ran be desired tor making gold. The statement of accounts for the sij month* ended March 31 showed receipts £1377 12/9, of which £1380 2/6 -was from calls and £147 6/0 balance brought forward The expenditure showed £826 1.1/4 mine wage?. £111 management costs, and £483 10/ paid to sundry creditors. THE PRICE OF GOLD. LONDON, June 9. Gold is quoted to-day at 81/11 per oz. (A. and n.Z. Cable.)