MINING NEWS. [PRESS ASSOCIATION.] (Received August 30,11 a.m.)

Evening Post, Volume L, Issue 53, 30 August 1895, Page 2

MINING NEWS. [PRESS ASSOCIATION.] (Received August 30, 11 a.m.)

* London, 29th August. A oompany to work the Preeoe'a Point Proprietary Mine, near Coromandel, has been registered, with a capital of .£IOO,OOO. Auckland, This Bat. There is a good deal of exoitement in town to-day owing to what appears to be the famous Martha lode, of the Waihi mine, having been, discovered fully two miles away from that property. The reef ii reported to be 40ft wide, and its assay value £15 per ton. Pegging out is proceeding briskly, and the disooyery la considered moat important, as opening, up a large area of oountry.

An old miner writes to us from Mabakapawa, under date 29th inst. :— There have been some extraordinarily rich finds here lately, and the Hibernian people are still on it. The faoe in the drive is like a jeweller's Bhop. Mr. W. Darvill, who bought the mine, showed me some oement, fall of gold. It iru a pluoky venture of his at the time, the mine being in diffioultie*. He deserves his suooess. The Te Ore Ore is reported to be on the same kind of oement show, ing very rioh gold. It is on the oarda that Cullen's flat is going to be ft New Zealand Coolgardie. The Solomon Company have had a breakdown, and have only just pumped out to-day., The ground requires better machinery, and if the new company now in oourse of formation supplies this want the venture will be a good one from present prospeota, as sinoe the former oompanies oommenoed working they have not averaged three months in the year at work. ¦ ' ' -„.-"