MINING NEWS.

Auckland Star, Volume LVII, Issue 205, 30 August 1926, Page 4

MINING NEWS.

ALBURXIA. The annual meeting of shareholders in the Aibnrnia Gold Mining Company was held this afternoon at the Chamber of Commerce. Mr. H. E. Cooke, chairman of directors, presided. The directors' report referred to the fact that after cleaning out the level a run of gold was struck, from which 521h of picked stone were got. also a few tons of good ore. which were stacked in the paddock. The reef is stated to be stilt continuing in good country. The manager reported that colours of g'fd are seen at each breaking down, but i*thing that might be classed as prtked stone. The leader averages loin. 'A further distance of 200 ft should intersect the Star of the South reef. There are 180 ft of backs, and the drive is in virgin conntry. The manager adds: "Should present indications continue we anticipate that rich values will be met with." The statement of accounts showed total receipts £4840 12/5. of which £2945 17/10 was from applications and allotment fees, and £1414 16/ from premium on shares sold. On the expenditure side were the following items: Brokerage £45, mine wages £802 2/, mine supplies £239 18/8, general charges, rent and insurance, £280 6/2, loan at call £3000. cash in bank and in hand on June 30, £473 5/7; total £4840 12/5. MINE MANAGERS' REPORTS. Xew Waiotahd. —The manager reports that the drive hlllward on the WaintahiCambria reef has been advanced 10ft for the week, making the total distance from the crosscut 169 ft. In the face a band of blue pug is lying on what will probably prove to be the hanging wall of the reef. The country rock on the other side has changed to a mild blue andeslte favourable for gold. The drive from the winze sunk between the Waiotahl-Cambria reef and the footwall leader is now vertically under the point where gold wias got In the level, but so far no quartz has been seen. Driving seaward will be continued, as the dip has probably carried it In that direction. The country rock is a mild blue andesite carrying seams of the fine grained iron pyrites promising for gold.