MINING NEWS.

Dominion, Volume 4, Issue 1033, 24 January 1911, Page 8

MINING NEWS.

" ' ■ STOCK EXCHANGE. (By i Telegraph—Press Association.) Auckland, January 23. Business done at this morning's call of tho Stock Exchange included:— .. Bouanza;'-sid. ■ Hauraki Reefs. Is. 2d.; ditto (con.),- lid. . Hauraki, 2s: 2d. Waihi, £4 17s. Northern Stoam (paid), 15s. fid. Auckland.Trams (ord,),£l Os. 6d. Wilson's Copiciit; (prof.), £2 3s. Tho following business was 'done at the 3.15 p.m. call to-day:— Kuranui. 4*d. Watchman, 2s. Bd. Bremucr's Freehold, 7d. Hauraki Reefs (con.); IOJd. Old Hauraki, 2s. Id. , . Waihi, £4.175. ,3d. Waihi Reefs (con.), 3s. £d. Waihi Grand Junction,. £1 lCs, 9d. Auckland Tramways (ord.), £1 4s. 6d. Dunodln, January 23. Tho following are the stock Exchange quotations:— Dredging 6tocks:-Go!den Bod, buyers 175., sellers 195.; Otago, sellers 145.; Kira' and Shine, buyers £1 195.; Rising Sun, buyers £2 Os. 6d.: .Sailor's Bend, sellers sc. Gd. Mining stocks: Muddy Terrace, buyers 17=. fid.; May Queen, buyers 3s. Id., scllera 3s. 3d.; New Sylvia, buyers 3s. 9d., sellers 45.: Watchman, buyers 2s. 7d., sellers 2s. 10M.; Tairua.Broken Hills, sellers Is. Id.; Waihi, buyers £4 ,175., sellers £4 17s. 6d.; Waihi Extended, buyers 2s.- 3d.; Grand Ounction, buyers £1 lCs. 3d., so'.lers £1 ICs. 3d.: Waiotaki, buyers 3s. 2d. Investment stocks: U.S. Co., buyers £1 Ids. 6d.: Wostport Coal Company, buyers £7 55., sellers £7 7s. 6d.; Wcstport-Stockton, tellers 6s. 9d.: D.I.Cv (ord.). sellers 65.; New Zealand Paper Hills, sellers £1 3s. 9d.; Dominion Rubber, buyers 12s. premium, sellers 15s. premium. Stock Exchange sales:— • Watchman, 2s. 10d.. : Waiui Grand Junction, £1 10s. 6d., and for forward. delivery £1 lis. Sales reported:'— . Waihi, £4 195., and for eight weeks' delivery, £5 Is. Golden Bed, 18s. 6d. New Zealand Drug, £2 9s. 6d. ■ MINING NOTES. The western low level in tho Dominion mine, Karangahakc, has been extended 25ft. in oxcellont country, making-151ft. in all. and .leaving 150 ft. to,drive to cut tho western lode. Tho manager states that since his -last report ho has discovered same splendid loose ore on the north-west portion of tho property, and about 2ECft. from the Talisman- boundary he has located a solid bodv of nuartz 4ft. 6in., wide,. with two well-defined walls, traversing a, splendid channel of country. The Quartz has a very kindly appearance, and a little gold can bo obtained when tested.

In tho .Handsworth section of the Handsworth United mine tho stope in progrcrs is producing . rich crushing dirt. ir. which small pieces of specimen stono are observed, but too small and friable 1o select. Where stopped in tho Otama. level tho load has improved considerably during the week's operations, and is beginning to show specimen etono, which, should imnrovo as tho r.topo -idvnnces. Tho drive on -Uuntly'n reef at Ko. 3 Irene level his been extended sft., the reef being 9in. wide, and composed of soft silica and mancancso. and giving :'. little gold in tin tlieh. A stope war; started from the south rise on tho main reef, and has been prospecting payably. Tlio reef has now split, and it mav possibly prove to bo thi junction of ATDonald's reef with main reef.

In tho New Waitaja mine sloping is in prowess on the blue face roM at No. 2 level, where, tho reef is. ns usual, very erratic in size, but shows gold freely, and is evidently pood grade ore. Where being rtoped at the intermediate, level-Ko. 3 rccr is much more uniform in size, showing nice-looking ore encased ir. .good country. Tho correct return from crushing 25 tons before Christmas came to hand during tho holidays.- and gave a. result of £217 <s. 3d., or about £8 14s. nor ton. At- the low hvel the contractors havo driven 20»ft. for the week, m-akini a. to'a! distance'of IMEWt. A splendid description of country is bcini; penetrated, maliir.g the outlook decidedly encouraging. The .water, which h33 hitherto boon, confined t-p tho floor is rtow dripping from the face and back of the level. . -