GOLD FIND.

Press, Volume LXII, Issue 18676, 27 April 1926, Page 10

GOLD FIND.

IN THAMES FIELD. RUSH ON ALBURN lAS. (srECUL TO "the pbess.") AUCKLAND, April 2G. Something akin to the excitement of the days when Thames was a highly productive gohlfield was in the air in Auckland consequent upon the reports received of the' discovery of a goldbearing reef in Alburnia mine. Activity in the company's shares was particularly marked on the Auckland Stock Kxchange. Whereas buying quotations for Albtirnias .were 6d a week ago, sales took place to-day at between 3s 9d and os, the market closing at 4s fd and 4s 4d. An indication of the amount involved in transactions is gained from the fact that at the first call 1500 shares changed hands, at the second call 2100 shares, and at the third call 400 shares. A total of 4000 shares were offered, chieflv in parcels of 100.- The opening sale was at 4s 6d. the market easing to 3s 9d, but at the second and third calls 4s and upwards was paid, 500 shares being sold at os. The last sale was at 4s 6<l. Late buyers sought more at 4s 4d, but hosiers quoted the last sale-price. The supervisor of mines, reporting under Saturday's date, states: "The Norwegian level has been advanced on the footwall of the reef a distance of 240 feet from the starting point, leaving 240.feet to reach the point where it is expected to reach the junction of success reef. Ten pounds of picked stone have been secured, coming from the footwall branch of the reef, at about 8 feet back from the face of the drive. The reef is about 15 inches in width, and about a truck load of quartz has been taken down, from which the picked stone was selected. ■Strong colours of gold have been seen right across the reef and should be good crushing ore. The fac is being cleaned up, and the balance of this portion of the reef will be taken dowiT on Monday. It is then intended to cut into the main portion of the reef, which at the 200 foot mark is 10 feet wide. The back to the level' above is 18-5 feet, so that the present and future prospects of the mine are very promising." . . Rich Ore. Information brought back by the directors from their week-end visit' to the' mine makes clearer the circumstances of i the gold find. So far the • contractors have been driving along the hanging wall of the reef, leaving it unbroken. On Friday it was found that a leader, about 15 inches thick, struck out from the wall, and it is in this that gold has been met with. AVhat may bo in the main reef itself (a fine body of stone believed to bo between 4 feet and 6 feet thick) at the point of the junction, which must be behind the present face, remains to be seen. Some of the picked stone was on view at the company's office. It is well splashed . with heavy gold, and old miners familiar'with Alburnia Hill are agreed that it is of the same character as that found in the parallel "Sons of Freedom" lode, where it gavo its mogt brilliant results. It would b© rash at the present stage to'predict that history is about to repeat itself, in the Reuben reef. That can be ascertained only when the ground is turned over.