MINING NEWS.

Press, Volume XLV, Issue 7125, 23 July 1888, Page 5

MINING NEWS.

I FROM OUR CORRESPONDENT.] KEEFTON, July 22.

Nil" Desperandum—The mine manager reports: —"I have been driving for mc winze. We have driven 34f fc, and knowing I should be the distance, and not finding , itthought it best to take the water, and I find there is an underlie of about 9ft to the east, so -we had to put a short crosscut in, and we broke through in about sft. We commenced to put some timber in at the top of the winze, and I find that the track of the reef is in the footwall, but my successor will be able to report on it. I have sent 75 trucks of quartz to the Wealth battery/—M. Bradbury. Specimen Hill United —The only work in progress here is surface prospecting, which, however, has so far not resulted in any important find. Homeward Bound-*-The sinking of the main shaft is in progress, but the country is somtwhat hard and the work slow. Clifford, whs is under an arrangement to find a a make of stone on the surface of the Company's lease, has been at work for some time past, but so far has made no report to the Directors.

Welcome. — The battery is again in operation, and the returns speak sufficiently of the quality of the stone being got out. The present difficulty, however, is in keeping up the supply, but there is the chance of the lode widening out at any moment, which would, of course, bring a great change of fortune for the shareholders. The present indebtedness of the Company stands at about .£6OOO, and as the amount of the late call exhausts the capital and. produces .£3750, the shareholders will be asked at the approaching extraordinary meeting to assent to a mortgage of the plant and property to the Bank of New Zealand to secure the balance of overdraft pending the re-for-mation of the Company and the increase of the capital. Ijikerman—The shaft of the western reef is now down 96ft, showing from 2ft to 2ft 6in gold-beariDg stone. When sunk 100 ft it is the intention of the Company to turn their attention to connecting this portion of the mine with their thirty-head battery in Eainy Creek. ; he distance intervening is about 60 chains, and the difference in levels favourable for a selfacting aerial tramway. It is estimated that all material can be procured, and the erection completed, at a moderate outlay under'ten weeks. This western has now been proved to average over 22in in width as far as yet sunk in, and the quality of the quartz fully justifies the expenditure about to be incurred, There are about GO tons of stone to grass, and the mine manager reports that, in his opinion, 100 tons of similar quartz will pay for the aerial tram and 100 ft of main shaft, if the latter is required. The same lode has also been traced by trenching to the extent of 330 ft north of the shaft, the quartz giving excellent prospects wherever cut. The Company's battery is as good as new, the only defect —some corroded boiler having recently been repaired. Prom the foregoing there would appear to be a tolerably good future before the Company. South Hopeful ome very rich stone is now being taken out of this mine. It is the intention to commence raising and stoping on stone overhead, where matters look promising. Hopeful Extended —It is understood that the amalgamation of this Company with the Fiery Cross Extended is as good as settled. The amalgamated Companies will consist of twenty-two thousand shares, of which eight thousand will be divided pro rata amongst Hopeful Extended shareholders, or, in other words, the Hopeful Extended gives up its ground, and in return gets one-third of the shares in the amalgamated Company. It is generally considered that the Fiery. Cross people get the best af the bargain. Big Eiver Extended—A report from this mine is expected in to-night or to-morrow morning. Keep It Dark —Eeturns for the past week are the highest obtained since the north block was refound, and should make shareholders jubilate. New Era—Prospecting is being carried on by Cummings and party on the surface, but nothing important ha 3 yet been met with. The weather has changed to rain, and there is every prospect of a wet time in store for the next month, this being the real rainy season of the Inangahua.

The following are the battery returns for the past week,: —

Progress—72qz of amalgam from 90 tons.

Keep-itrDart—3lloz of amalgam from 190 tons.

Globe—lSloz of amalgam from 190 tons. Welcome—3lloz of amalgam from 68 tons.

Fiery Cross Extended —190oz of amalgam from 90 tons.

Just-in-Time —The mine manager reports :—" Since my last, stoping in the western reef has been continued. The reef is about the same in width as at last report, 2ft to 2ft Gin, and fair gold to be seen in the stone. There is about 35 tons of stone in the paddock to date.—Thqs. Navsmith. *

Happy Talley—The mine manager reports :—" I have driven ten. feet fox the week. The tract is about four feet wide and some broken stone. ; he length of the drive from the shaft is 136 ft. —L. Moncreif."

Venu3 Extended. —The mine manager reports:—" I beg to inform you that 75 tons of quartz have .been got from the mine during the week. There is not muoh change to report in the atopes. I here -is a little improvement in the atopee north of the rise." I.