MINING NEWS.

Dominion, Volume 3, Issue 773, 23 March 1910, Page 9

MINING NEWS.

WELLINGTON SHARE MAKKET. Waihi shares advanced slightly yesterday, aud sales were made at £S Bs. 6d. to .£9 9s. Cd. Talismans were quiet at £2 10s. 9d. Haurakis are moving downwards, and buyers are now offering about 3s. 7d. The sales recorded yesterday were as under:— May Queen, 4s. 3d. (third call). ... Talisman, .£2 lis. 6d., £2 10s. 9d. (first call). ' Waihi, £3 Bs. 3d., £9 Ss. Gd., .£9 Bs. 9d., £0 Bs. 9d„ £9 9s. 3d. (first call), .£9 9s. 6d. (second call), X 9 Bs. Gd., '£9 Bs. 3d., dC9 9s. (third call). Waitangi, 2s. (second ' call). Ross Goldfields, Bs. (first, call), Bs. (second call). QUOTATIONS.

'STOCK EXCHANGE. (By Telegraph.—Press Association.! Auckland, March '22. Business done at this momma's, call of the Stock Exohange included:— Kuranui, sd. Waiotahi, 4s. Id. Mount AVelconie, Gd. Hauraki, 3s. Bd., 3s. 9d. Royal Oak (con.),'ls. Tairua Golden Hills, 3s. 7d. Talisman, 51s. Waihi, £3 10s. Grand Junction, 325. 6d. ■Hikurangi- Coal, 20s. Westport Coal, M 7s. . Auckland Trams (ord.), 21s. 9d. ' Wilson's Cement (ord.), 465. , The following business • was done at the afternoon call: — Talisman Consolidated, 51s. . Waihi, 190s. 6(1., 190s. ; Waihi' Extended, 3s. Id. . * Waihi Grand Junction, 325. Gd. / Waihi Grand Junction (option), 2s. 7d. ■ May Queen, 'Is. 4d. ; New- Sylvia, 4s. Sd. • I Watchman, is. Gd. Consolidated- Goldfields, 21s. 9d. Progress Mines, 14s. ■ 3d. Old Hauraki, 3s. 9d. . Kapanga, 7d. (By Telegraph.—Presß Association.' Duncdin, March 22. Stock Exchange sales:— ... Old Hauraki, 3s. 7d. (three parcels). Talisman, JE2 lis. . ;Waihi, .69 Bs. :9d. ; ' ' "• '■■ 'Waihi Grand Junction,■ J!l 18s.- 6d.\ ,'Reported sales:— -..'■. Rise' and Shine, £2 55.. . Wnihi, £9 Bs. .'.■■■•." !Old Hauraki, Bs.'Bld..' MINING NOTES. . '.\ According to the "Otngo Daily_ Times" a large number of meii will.probably soon be at work at reefing on the Gari'ick Range as some good prospects havo been got there. Thore is little doubt that this should be a fine reefing field as rich stone was obtnined there in the early days, when the expense of working was much greater in every way. When she. was put out of commission nearly a year ago, the Kura dredge was only able, to average from 7oz. to lOoz. or less per week for an average turnover, ot about 5000 cubic yards of stuffy About six months ago this dredge was purchased by a private investor, who .at once doubled her bucket capacity, and we are informed that since resuming operations at Waikaia the dredge has riot only doubled the amount of spoil weekly, but has also doubled her • weekly returns, whioh have averaged'from 17ozi to' 20oz. per' week since'resuming operations.'-In this'case, a simple - engineering expedient has turned an idle dredge into a moneymaking proposition,'and it is probable that this course, will be adopted elsewhere where similar conditions prevail.. . According to Mr. H. P. Stark, manager of the Greymouth branch of the Bank of New South Wales, who has just returned from an extended foreign tour, inmortant discoveries of gold have lately been made in China and in Manila. At the time Mr. Stark was in the Far East complete plants had been, and were being, erected in several directions, both in connection with quartz and alluvial mining. Some of the properties under operation were doing very well, and rich gold finds were reported. ■■ In Mr. Stark's opinion China offered a good field for mining investment, but he noted that the Chinese were intent upon keeping foreigners out.

About three years later' the. cyanide process came into use. Had it come into general use three years earlier, the historv of the Bendiso mine would, in n'l probability, have been written differently, as-' it is claimed Hint precisely similar conditions prevail in the Talisman mine, the success of which has been.almost entirely due to its profitable treatment of sulphide ores by menns of the cyanide process. Consideration of this important factor in modern quartz mining hue directed attention once more to tho Bpndigo.reefs, and the history of a number of mines in Australia shows that they pnid their owners well whilst working the higher levels, .but on reaching depth the oro became impregnated with pyrites and other minerals to such an extent that they would have knd to remain idle indefinitely had the cyanide' process not been discovered. The success which has attended the M'Arthur-Forrest process is too well known to call for more than' passing comment, and- now that it is available, and in practical daily use in many of the largest mines in the world, a few laboratory tests soon demonstrate its adaptability for tho treatment of refractory ores. Some recent assays of ore obtained from the.32oft. and^44oft. .levels of the Bendigo mine- show values ranging from a few shillings to £4 per ton, and several parcels tnken from the eastern portion of the claim disclosa very rich values, ranging from £8 per ton to ,£l7 10s. per ton. ■'"..•

. Taking a mean average of these values, which are from, an authoritative source, it must be admitted that the futuro prospects of this old bonanza look very promising indeed, as there are abundant records available from former managers of the mine to show that the sulphide ore'exists in well-defined and abundant quantities. The late Mr. G. Hosking, who was .mnna-: ger for tho London-compnnyj reported to. tho shareholders that the walls of thereef were well-defined at the 520 ft. level, and afforded ample evidence that it would live at great depth. ■• .

Two of the directors of the Mountain King Gold Mining Company have visited the claim, and as a result of the large amount of development' work they, found that a considerable quantity of good grade ore has been exposed. The north face of the low level is- now between 450 ft. to 500 ft. from tho top of the range; and according to the- 'results disclosed further southward it is reasonable to expect that tho ore body can bo followed upwards for at least 400 ft. The intermediate level is 120 ft. above the lonlevel, and here tho ore body has been carried through payable ore for tho whole distance driven. A block of 130 ft. is contained between this and the upper level. In driving northward in the mine a considerable addition to the oro reserves is made as the reef strikes into the Waitai range. Stoping operations are well in hand at the various points in readiness for the commencement of crushing. A five-head mill (12001b. stamps) and cyanide plant are- in course of erection, and should bo completed within six weeks. This plant will bo thoroughly np to date, and motive power will bo provided by i>. 10 horse-power Crosslcy suction gas engine. Representations are being made to the board as a result of the directors' visit which will place the affairs at the mine on a more satisfactory basis.

Buyers. Sellers. Sales. •Cs.d. ,£6.d. JBs.d. Kuranui Caledonian 0 12 0 16 ■ — May Queen ... 0' 4 2 0 4 4 0 4 3 Maoriland ... 0 0 5 0 0 6 — New Sylvia ... 0 4 7 0 i 10 — Old Hauraki 0 3 7 - . • — Saxon 0 17 0 19 - Tairua Broken Hills ......... 0 12 - ■■-'■■ Talisman 2 10 3 210 6 210 9 Waihi 9 8 9 9 9 0 9 9 0 Waihi Grand Junction ... 1 11 C 1 12 0 - Waitangi .... 0 1110 2 1 0 2 0 Con. Goldfields- t- 1 2 0 - ' New Big Kirer ' — • . 2 3 0- — Progress ' — 0 14 9 — Ross Goldfields - 0 8 G 0 8 0