THE WAIHI MINE.

Dominion, Volume 4, Issue 1054, 18 February 1911, Page 7

THE WAIHI MINE.

CAPTAIN RICHARD'S REPORT, CONFIRMS NECESSITY TO REDUCE OUTPUT. (By Telcerapb-l'rcss Association! ■ Auckland, February 17. ( , Tho following cablo has been sent to London by Captain Richard, and was published in London on February 16:— "I have examined the mine, works, records, and plans of tho Waihi Com-' pony, and find that all work being dono compares favourably with good mining and mining practico elsewhere. I confirm tho necessity to reduce the output, as I am of opinion that tho conditions in tho mine, not the capacity of the nunc, must now control tho output, the oro reserves have always been small. This is quite unavoidable owing' to the largo volume of water to bo dealt with, it has not been possible c 5, VO 'P! ) tho ore reserves by means of tho diamond drill holes owing to tho oro being too friable; cannot produeo satisfactory samples from diamond drill cores. Am convinced you may rely upon tlio official estimated ore reserved. Am of opinion that oil the oro reserves figures, published annually, the price of shares has been duriua several years past largely in excess of tho actual l'i I' 0 -1 Tho records of tho mino show that tho amount of profitable ore increased with denth to about ono million tons between levels Nos. 6 and 7, but decreased between leveta Nos. 8 and 9, where tho approximate total will bo about 500,000 tons. Tlio oro dimiii- !? s , 111 vn ' ue .with depth more slowly n j j Ss tllan ' n . most other big mines, and does not show any sudden change ? i n £°'i Geological data is very plentilul at the mine, and will bo very useful for tho general guidance of exploration, but there is not yet sufficient for determination. of tho future prospects and value of tho mine. Recent developments in tho lower levels may indicate tho approaching end of tho oro body in' depth, but it may bo only an impoverished 2ono m coming in; also, it may nomt to a zono of poor oro occurring tho hydrogeiictic and pneumatogcnetic ore. I .would prefer -to' adopt these last two as working hypo-' theses ni developing the lower levels. I cannot give any opinion- definitely as to tho. prospects of No. 10 level without nioro information than is available. I consider extensive explorations nro necessary over the nnucveloned area of the Waihi Company. I "quite agree with tho proposed direction of'the prospecting drives already started. My full report wi\l bo sent to London by mail leaving Australia, iu about twenty days." • • ,

Tholocal committee of shareholders in tho AVaihi.Company met yesterday, and decided in view of the fact that Captain Richard had only boon sixteen days in tho Dominion, tho scopo of-his investigations would not fulfil tho requirements of the resolutions of tho shareholders passed on tho Ist instant. It was accordingly decided to cable to tho London directors as follows:—"Shareholders consider manner of Richard's examination too cursory and limited, liesiro report terms shareholders' resolutions of .Ist February notified local attorney.".- • . . ~ „