OHINEMURI MINES.

Auckland Star, Volume LVIII, Issue 234, 4 October 1927, Page 11

OHINEMURI MINES.

IMPORTANT DEVELOPMENT.

RICK SULPHIDE ORE

IX THE NORTH SECTION,

A sharp rise in shares in the Ohinemuri Cold and Silver Mines Co., North Waitekauri, has taken place on the Exchange. A week or two ago these shares were as low as 3/9, but yesterday a demand set in, and this morning sales were made up to 6/3, after which an extra penny was offered.

The sudden demand for shares is the outcome of what bids fair to prove a most important development in the northern section of the mine. A lot of work has been done on the Camoola reef in the south section of the property, but the new find was struck after driving •ISO feet from the Silverstream crosscut in the north section. That work was undertaken while awaiting electric jiower. The result has been the intersection of rich sulphide ore similar in apeparance to some of the best stone that was won from the old Talisman mine. Some large blocks of the ore are to be seen at the office of the secretary, and these carry broad seams of sulphide associated with rhodenite, which is always an excellent indication of a good patch. The ore is the full width of the present drive, that is seven feet, and is spread right through the face. It seems as if this may prove to be a parallel shoot to that worked in the Silverstream section, 300 feet to the westward. The drive is penetrating excellent country. This find is about a mile and a-quarter north-west of the old Golden Cross mine, which paid so well many years ago when worked by the Waitekauri Co. The Camoola reef is a large body of ore and in the south section where it junctions with other bodies was a width of 70 feet. It has been crosscut at other points and found to be 30 feet wide. Its width at the present find cannot be determined until crosscuts have been put in, but the ore that is now being mined proves the development to be a very important one.