MINING NEWS.

Press, Volume LII, Issue 9019, 4 February 1895, Page 5

MINING NEWS.

(Br Telegraph.] (FROM OUB. COBREsPONDENTJ. . ■ i REEFTON, Februarys. , The following are the Saturday mid-day , quotations:—Big River lie 6d to 12s, Bailer Dredge 2s to 2s 6d,, Cumberland Iβ 6d to 2s, Globe 4s to 6s, Hercules 2s 24 to 2s 6d, Eeepit-Dark 4s, Progress 14s to 16s, United Alpine 6s to 7s, The following are the battery returns :— Sir C. Ruesell, 970z amalgam from 60 tone; Hercules 1470z amalgam from 64 tons; Progress, 4560z amalgam from 200 tons clean up; Globe, 3640a amalgam from 100 tons; Big River, 6020z amalgam from 70, tons clean up. The Buller Dredge had 40oe of gold for the week's work. Only old ground is being gone over, and much larger returns are expected when deep dredgiDg is commenced, which will be shortly. The Big River Company declared a dividend of 6d per share on Saturday night. Owing to the good returns and the expectations of the mine manager there is some excitement} in the district;, and shares changed hands on Saturday night at an advance on the mid* day quotations. A prospecting Association has been formed to endeavour to find new reefs in . the back country. The new Low Level Tunnel Company has been registered with 24,000 shares at 5», 16,000 of which are already subscribed for; not paid up shares. The manager is Mr T. Hubert Lee. It is intended by the Company to operate at Murray Creek and Black'* Point, under the Government subsidy as granted latib session. This will give a considerable impulse to the local business, and in all probability will be the turning point to a new and better state of things. GREYMOUTH, February 2. A ton of Btone crushed.from the Victory mine atfiangdons, near Greymouth, jielded 20oz of gold. A small specimen fybm the leader,.weighing 41b, contains3ozof gold. Competent miners believe the main reef bw been struck.