MINING NEWS.

Press, Volume XLVIII, Issue 7985, 5 October 1891, Page 6

MINING NEWS.

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(rSOM ODK COBRBSPOXDKXT.) : REEFTON, October 4.

Cumberland —The mine manager , imports , for the week : —" The wiuze has been sank a farther distance of 13ft, the total distance from the brace being 50ft. We aro still going down on stone. Twenty feet of logging will be finished to-night. The logging has retarded progress with the winze. Daring the week the bottom tunnel has been extended 13ft. We struck a reef 3ft thick, and carrying gold. I conaider the appearance of the stone highly encouraging. Water is coming from it freely. Sloping is being still carried on in the top level, and there are a few more tons to take out. After this is done, I shall have to make sundry repairs to the level and air course; 106 tons hare been delivered in battery paddock for the past week."

Big River—The mine manager reports:— " The atopiag was discontinued last Thursday in order to allow the ground to be filled in. This work will be finished about the middle of the next week. After this work is completed the battery will recommence crushing. The stopes are all looking well, both as to the quantity and quality of the stone. The fencing of the tailing site is now completed. During the past month 261 toDs were crushed, which yielded an aggregate return of 19360z amalgam, or 6420z of retorted gold." Wealth of Nations—"The winze being sunk on the reef is now down a depth ol 81ft. The width of the reef is not known, as it is being left on the hanging wall side. The uprise from the low level to the battery level has been connected. The ventilation of the mine is now all that could be wished for."

Hercules—The mine manager reports :— " For the past week the distance driven is 21ft, but beyond the fact that there is a good track in the face there is nothing new to report." Happy Valley—The mine manager reports that he broke through the reef last Monday, and found it to be about 3ft thick. Aβ driving on the stone would be both slow and expensive it is intended to drive alongside the reef and break iuto it occasionally. General Gordon — The mine manager reports for the week :—"About the middle of the week stone came in, and to all appearance it is a solid reef from 2ft to 2ft 6in wide, with gold visible in the stone and also in the drillings."

Venus —The mine manager reports :— " During the week we have been repairing the main road and paddock, and we have been two days at the battery. No work has been done in the crosscut this week. The tributors are getting out Btone, and they have now 100 tons broken out."

Triumph—The mine manager reports :— " The contractors for extending the low level have finished driving, and are now timbering up. While driving they cut various tracks of reef, from lft to 2ft thick, but no gold was discovered. It is expected a gold-bearing reef will be intersected in another 40ft of driving." National—One of the Directors visited this mine during the week, and reports as follows :—" The total distance driven west of the main level is 53ft, and a reef track has been followed all the way. Owing to the hard nature of the country timbering was quite unnecessary on the foot wall aide, the slate getting softer and more kindly looking. In my opinion the best course to adopt is to sink on the stone below the winze, because firstly, there is something to follow, and secondly, those who know the Big River district best assert that the existence of payable goid can be relied on only at low levels."

Homeward Bound—The mine manager reports:—" The winze now being sunk from the top intermediate level is 13ft. The stone at the bottom is about 2ft thick in the biggest place, and will average a thickness of 18in. It carries good gold. Owing to the hard nature of both stone and ground, sinking is very slow. Iα the No. 3 level we have commenced to rise on the stone, the width of which is at present about 8 iuches. I believe we are on the reef, and the rise should cat it stronger as it goes up. The distance to the first intermediate level i> about 45 feet. The winze that is now sunk from the second level will be down about the same time as the rise and will reach the first intermediate level, but the level will have to be extended about 40 feet north to intersect the uprise from No. 3 level. If this connection were effected the ventilation of the mine wonld have greatly improved." Alpine—The drive on No. 7 level, on the north block, has been extended Bft during the week, the total distance being 36ft. During the week there has been an improvement in the stone. Gold is visible in a good deal of it. There is nothing new to report from the stopes. Timbering in the pass has been completed, and stone is now sent through. Filling in will be taken in hand next week. The Directors meet on Tuesday. Caledonian (Larry's)—The Argyle tunnel is now being picked up and retimbered for a distance of 970 ft. The water race from Potter's Creek has been repaired, and the air blast for ventilation put in order. Nine air pipes have been also placed in the mine, so that the work, which owing to foul air was suspended a fortnight ago. has been resumed. There still remains 180 ft of tunnel to be retimbered before the winze is reached. The work will require about three weeks for completion. This winze is lift deep, and exposes a reef 3ft wide, which carries coarse gold. The lode is bhe continuation of the No. 2. South" Larry's, which has been worked from their lowest level to the surface, and yielded -£15,750 worth of gold, at a profit of over £5000, and this too at a time when a miner's wages were from £3 10s to jB4 per week. The ground is wet, but by sinking away from the reef, and leaving some solid ground unworked, the surface water will be prevented from following the working down, as was the case in the Caledonian lode. A Company called the Larry'a Creek Quartz Mining Company, Limited, with a capital of £9000 in 36,000 5a shares, is being formed. 24,000 shares are now offered to the public at 6d, and they have already been nearly all subscribed locally. Fiery Crose—At present the reef lately intersected in the low level is being driven on. The distance gone so far is 15ft, and the stone is fast improving in quality. Big River declared a dividend of Is 6d, and No. 2 Dark declared one of 6d.

Battery Returns—Big River, HOOoz of amalgam, clean up, from 64 tone ; Cumber* land, 191oz of amalgam from 167 toni; Globe, 5460z0f amalgam, clean up, from 190 tons; No. 2 Dark, 3620z of amalgam, clean up, from 118 tone; Wealth of Nations, 50os of amalgam, from 50 tons. The following is the Stock Exchange report:—"The Big River, Globe, No. 2 Dark, and Cumberland batteries return 21990z of amalgam this week, of which the three first-named include the contents of the boxes. The month's work at the Big River shows a result of 6420z of retorted gold from 261 tons, leaving a handsome profit and ample material for a substantial dividend. The other mines show their usually satisfactory averages, that of the Globe indicating an improvement, which it is expected the next few weeks will make even more pronounced. A recently published review of mining stock deals with the position occupied by a certain line in the share market, but, without attempting to disprove the allegations made or further deal with a matter conceived in such very questionable ,taste, it might be as well to suggest to those who are so ready to give advice of the kind that they should try and avoid any mistatements of facts, and not work up a case and finding on false and bad premises. The sharemarket has been fairly brisk this week, and some pretty general all-round buying and seLing has been done, extending over a good many different lines. The mining news is very encouraging, and prospects are generally sound and substantial, even though there is nothing sensational to report. Big River shares chow an advance this week and touched 19s 6d. Cumberland also show improvement, and rose to lls to-day. Exchange are in fair request at slightly over last week's ngure, and Fiery seem to be only obtainable in small scattered parcels. Buyers of Gallant offer Iβ 4d, and Globe moved from 18s to 21a, with a fair turn over at rates ranging betwen those prices. Gordonafltda* o*J»3 rates, and are in betterjs»aWisSly] Holders of Hercules are " fl^*^t, offered, and the same and Lord Edward. No. 2 Dark is a firm

stock iurt now, and is steadily saleable sales from 7s Id to 7s 4d. Progress are still wanted, but buyers and holders do not seem to meet yet. Russell sold at Is 3d with more wanted, and the resumption of active operations caused an enquiry for Drake again at low ratee. Alpmee are quiet, aaltors asking las, which shows a slight reduction on former rates. The mine, howWer, is reported promising, and on Monday the result will be to hand.' Mid-day Quotations ;-Big River• 19a to 19a 6d, Cumberland 10s 9d to 11s 3d, Exchange Is 7d to Iβ 10d, to 6s 6d, Gallant Is 4d to Is 6d, Globe 20a to 20s 6d, Hard to Find 4d to 7d, Gordon lid to Iβ Id, t Hercules 2s 3d to 2s 9d, Lyell Creek 4d to 6d, Lord Edward 3s to 3s 3d, No. 2 Dark 7s to 7s 4d, Pandora 5d to 7d, Progress 13s 6d to 15s 6d, Russell Iβ 3d to Is sd, Drake lOd to Is, Alpine 17s to 18s, Wealth 2s 9d to 3a 3d.

[I'«K3S ASSOCIATION TK.KGR.4M.] DUNEDIN, October 4. The Dunedin Gold Dredging Company obtained 109oz last week.