MINING.

Auckland Star, Volume LX, Issue 293, 11 December 1929, Page 4

MINING.

MINE MANAGERS' REPORTS. New Waiotahi.—The annual report of the directors of the New Waiotahi G.M. Company states that of the 70,000 forfeited shares for non payment of calls, 48,000 were taken np by shareholders ;it one penny each. About 10 acres of ground have been obtained en tribute from the Moanataiari G.M. Company, and a crosscut was let to drive hillward through the Caledonia and Red Queen sections. This crosscut is now in about 100 ft. the country being nice mild looking andesite, which is favourable for the existence of reefs. The retiring director, Mr. A. C. Rae, offers himself for re-election. Since March 81, this year, the expenditure totalled £290 19/2. Wfliomo Sulphide.—Report for period ending December 7: No. 3 Level—Drive north and south on new reef, total 133 ft. The north face shows improvement. Southward the reef has maintained Its size and carries ore of good grade. Storing on the Zeehan reef between Nos. 3 and 2 on the Zeehan reef between Nos. 3 and 2 levels, 103 ft. A substantial tonnage of highgrade ore. containing gold, silver, lead, conper and zinc is being opened up here. North reef at No. 3 level, ore values are erratic, but the average grade is satisfactory. Surface nrospecting has revealed the existence of three new reefs eastward of the main system, which can be conveniently develoned from the lowest level as it advances farther northwards. It is intended to expedite all construction work to enable commencement of crushing in January next.