MINING NEWS.

Daily Telegraph (Napier), Issue 7587, 5 February 1896, Page 3

MINING NEWS.

[SPECIAL TO DAILY TELEGRAPH]

[by _E_sanipn.J

J Auckland, Lapt night, j Evidently the London mining market is | improving, ns within tho last day or two I oables have been reoeived from Homo enj quiriug about various properties. I _Ie T. Melville cabled with regard to the ! Hazslbiiuk nrlno, which hs had in hit hand* for floatiug and then reported that tho time was not opportune. _e3tfirday, however, he r.saed to have tho mine placed in hia hands for another tv/o months, whioh shows that he has hopes of floating the property. Tha offer includes the Kuranui mine, and so far a definite answer haß not been received from the owners of that property, but it is understood that the Hazelbank directors have already agreed to an extension of time on their part. Cardigan.—A splendid looking body of stone nine inohes thiok was cut to-day in the drive at No. 4 level. It contains the best possible mineral indication, and nioe colors of gold were seen in the quartz. The country is a splendid olass of sandstone, and it is possible the discovery will lead to important development. Tho manager telegraphed:—" Cut reef nine inches thiok showing colors of gold.' Shares sold as high as Is 10d ; but were afterwards offered at Is Bd, with buyers at Is Gd. Alburnia—The deposit of £1000 from the Home purchasers of this mine was to-day formally paid over to the manager of the company, Mr D. G. Maodonell. Golden Tokatea—During the week the south faoe of No. 1 cross-cut has been extended seven feet. The reef looks well. The country in the faoe of cross-cut has got muoh harder. A email leader shows ; nioe minerals were passed through early in the week. All other work is progressing as usual.