MINING NEWS.

Press, Volume XLVIL, Issue 7717, 24 November 1890, Page 6

MINING NEWS.

[By Telegraph, i [tbo-i our coerkspondant.] REEFTON, November 23. The following are the returns for the week :—Globe, 1550z of amalgam from 190 tons of stone; Dark, 2-loz from 135 tons; Alpine, 19oz from 185 tons of top plates; Progress, 2930z for the week* Inkerman, 178oz from 150 tons. Alpine —During the week the main drive in No. 7 level was extended 9ft, In the south drive the reef has pinched to a few inches, and it looks like the south end of the stone, as it cut out in the bottom of the drive first, and appears to have a dip north of one in one. In the north drive a new make of stone has made its appearance, and cut the old reef out. It contains better gold than the old one, and is making into a good size, and carries a great body of water. The manager is of opinion it will make a large body of stone. There is no change in the stopes above tbe intermediate level. Hercules—The manager reports:—•" The distance driven for the week was 12ft north and lift south. The reef in the south end is 6ft wide, showing good gold. There is no change in the north end.,' Scotia—The contractors have driven the tunnel lOffe for the week, making 60ft since starting the contract. The country has got considerably harder.during the week and the track much smaller. .

Venus—During the week forty tons of quartz has been got from the mine. The battery will start to crush on Monday with ten.heads for the Company, and ten heads for the Energy Company. There, is no change in the size of the reef la the stones

Cumberland—The- manager reports:— "We broke through with the; winze into the level on Monday night. Have driven two sets north of the winze, it being too far to throw stuff until I get a truck* on. I started driving south. There is a big body of stone south six feet wide, with fair prospects. The contractors have finished the paddock." .., • ' Inkerman-—The manager reports:— ** At the mine 177 ft of stoping has been done,' and the winze has been sunk 18ft for the week. I expect to cut the reef in the next 10ft. The prospector on the south lease is driving on 2ft Gin of 2o_ stone." Business during the week was very 'quiet. ■•

Venus has altogether about 120 tons to grass. .■ .- > ...: ....:.- ■ ■,-.:')" Reefton Stock Exchange report:—"The business in shares has not been over brisk this week, although the several lines being operated oh all show a fair degree of firmness. The battery returns to hand are satisfactory, and in several instances rather, better than those of the previous week. The weather is now favorable to outsideoperations and prospecting, andcontract works are being steadily prosecuted. Big Biver keep steady at about former rates between 5a and ds. The mam shaft is finished and the winding machinery only wanting the wire rope to complete. - Down below the,chamber; is being formed, after which driving for the reef will be started. Fiery Croks remain at about 5s and business is limited. The completion of the main shaft, will see this property in active request again. Sellers of Cumberland ask _ta9d. Eeports'of the appearance of the reef continue good, and fair progress is being made with the works to connect With the Drake battery. The exchange is now fully at the prospecting .cage, and any development must make business. Globe are quoted to-day at 19s to 10s 6d. There has been fair enquiry 1 for the shares during the week, and some business done. The distance to be driven from the main shaft to strike the block is estimated to be. slightly over 100 ft, and aa this work advances the shares are likely to become much firmer. The Hercules mine is considerably improved, and in No. 6 level, towards the south, a fine body of 7ft of quartz is being wrought upon. The stohe shows fair gold, and promises well for an improved condition of things gene* rally in the locality. In the north end of the same level the contractors are extending in ' likely country.' Inkerman shares have been little dealt in, but the mine looks well, and in the south lease over 30 tons of good quality stone is to grass from the new outcrop, which has a thickness of upwards of 2ft. Dark remain comparatively stationary, bnt the battery returns show at once' very payable stone is being treated. No. 2 Dark have had a fair sort of business, about 2s all the week, the reef looking solid, and stone coming freely to hand. Progress remain as firm as any shares in the field, buyers offering 19s 6d to-day on a bare market. Sales ,of Scotia have taken place at up to Is -. 6d, with better inquiry than for some time. In addition to the contract below, surface prospecting has also been started. Crushing at the United Alpine battery gives a steady average; sellers of the stock ask 25s 6dV Wealth of Nations have been at from 3s 3d to j_s pretty well all the week, but when the present stage of operations is further advanced business must improve again. Midday prices .--—Big Biver, Ss 9d to 6a 3d,Globe, 19a to 19s 6d; Hercules, 2a ?d to 2a 9d; Scotia, Is 3d to la 6d; Wealth, te 6d to 49. Bayers—Progress, 108' dd. Seliers—Argosy, sd; Cumberland, 2* 9d; Exchange, 6d; Dark, lis* No. 2 South Dark, 2a; United Alpine, 25s 6d."