MINING NEWS.

Press, Volume LV, Issue 9991, 22 March 1898, Page 6

MINING NEWS.

DEE CREEK GOLD SLUICING COMPANY. The second half-yearly meeting of the Dee Creek Gold Sluicing Company waa held in the Caledonian rooms last night. Mr C. S. Howell (chairman of directors), who was in the chair, moved the adoptiou of the annual report. Toe report siated that Messrs Trent and Ritchie, who had just returned from a thorough inspection of the propeity, extending over four days, reported that they found all the work done on the claim up to the time of their \i3it of a most satisfactory description. Mr Trent was of opinion that the whole of the works would, when completed, be the neatest and most compact piece of engineering he had seen in the course of his experience. The No. 3 creak would be a valuable audition to the water supply, it being equal to if not better than No. 2., and they were satisfied that a never-failing supply would be available from this source even in the dryeet of weather. Sluicing operations would have been commenced from the water obtainable from No. 1 and 2 Creeks, had the contractor carried out bis original contract in terms of his agreement; but it was now estimated that this work would take about eleven weeks to complete from the time when the directors were on the claim. A number of prospects were tried from various parts of the claim, extending over a largo area of the property, in the presence of Messrs Trent and Ritchie, and the resulte were more than satisfactory, proving beyond doubt the great value of the claim, and fully substantiating Mr Marshall's first estimate of the returns. Mr Marshall had traced the deposit of washdirt over nearly the whole of the area from the Dee side to the boundary on Delavadover's, and intended fully prospecting and sinking shafts in those parts which had not yet been tried to his satisfaction.

The balance sheet showed paid-up capital £16,754 7a 6d. The mine property is set down at £14,300. which plus minor expenses and cash in the bank to the amount of £373 lie lOd, made up the balance of £16,754 7s 6d. '

Mr Trent said he had tried a number of prospects, and had very little doubt that any of them were equal to ldwt to the load. They had a great depth of wash, the character of the gold was first class, and the whole, thing very satisfactory. The best expression of his opinion he could give was that he held 8000 shares, and did

not intend to aett-β-etngla oneof (hem. •-• - Mr Ritchib also expressed himself as satisfied and pleased witti the claim and the work'done by the manager. There was no doubt from toe prospects they had got that the gold was right through the claim. Hβ was satisfied that if they held on to their shares they would have a very paying property. The report and balance sheet were adopted unanimously.

After a little farther discussion the eafcing terminated. *.