MINING MATTERS.

Evening Post, Volume LXVI, Issue 136, 5 December 1903, Page 12

MINING MATTERS.

— 1» OTAGO. The Secretary of the Golden Gate Dredging Company reports a return of 260z 13dwt for the week's work. The contractor for the erection of the Sullivnn's Lead dredge reports thnt the work is proceeding in a satisfactory manner, and that it is expected to have the dredge completed in about a week's time. The engine, winch, nnd Judder were in position ready for a trial, and work has been begun on tho elevator. The master of the Sandy Point dredge reports a return of 360z 18dwt for 130 hours' work. There was another bad slip in the tailings, but the silt elevator has been despatched to the claim, wheie it has probably arrived and is in course of erection. The directors of the Cromwell Dredging Company in their annual report congratulate the shiv^holders on the results of the year's operations. During the year gold to the value of £9893 10s hns been won, nnd from this dividends to the extent of 12s 6d per share have been paid. In last year's accounts a liability of £1000 appeared as a reserve fund, but, while the directors deem it highly desirable to keep a substantial amount available to meet any emergency which may arise, it hns not been thought advisable to continue to show the reservo in that way. Hence that item disappears from this year's balance-sheet, but the reserve is included in the sum of £1210 19s Gd standing at the credit of profit and loss. The sum of £700 has been written off the claim, whioh now stands at £1000, and £3098 14s 4d off the plant account, reducing the balance of that account to £6000. When the books wore closed the company hnd a balance of £873 0s 8d at the bank, while a sum of £750 was placed On deposit, and £17 8s 6d was due by sundry debtors. As against this there were sundry oreditors to the amount of £429 9s Bd. WEST COAST. Tho Nofcown dredge got 7loz for a fair week's run. The wash continues almost uniform, tho gold being a- little thicker at one side than the other. Pactolus No. 2 got Hot for 132 hours j No.l got 250z for 130 hours. The two dredges are working close together, and tho difference in return is as much owing to the capacity of the machines as to the difference in the ground. The Mosquito dredge got 40oz for 111 hours. A number of stoppages occurred. A full run this week should give about 50oz. Tho Blackwater River dredge obtained 370z 7dwt for 130 hours. The dredge is working towards the richer side, and the returns should imptove. ' The Moonlight dredge got 356z for 130 hours. The wash is shallowing rapidly, ond the bottom hns to be cut into to keep tbo dredge afloat. The North Beach dredge, working on tho inner lead, got 340& 17dwt. The dredgemaster expects over 40oz this week. The Aldinga dredge woshod up 260z 7dwt. The wash is somewhat rough and heavy. Only half the width of the face was worked last week. The Jamlcson's Reward return was 20oz. This week, it is stated, the returns should show a considerable Improvement. The Kohinoor dredge got 21oz 14dwt for 112 hours. The wash treated was similar to that giving over 40oz. The ground is patchy. The Greenstone Three-mile dredge is still idle, undergoing repairs, so that the Greenstone Creek is the only dredge in that locality that had a washing — namely, 30oz for 125 hours. Principal Coast returns last week were : Notown Creek, 132 hours, 15oz; Mosquito, 126 hours, 50oz; Pactolus No. 1, 211 hours, 490z 12dwl; Kohfrtoor, 118 hours, 470z; Pnctolus, No. 2, 213 hours, 40oz 13dwt; Buller Junction, 118 hours, 40oz; Black water River, 123 hours, 350k; Greenstone Creek, 115 hours, 31oz lOdwt; Three-mile Urecnstone, 150 hours, 28oz 7dwt. Nelson Creek wash is expected to further improve. Tho Pactolus No. 1 dredge washed up 490z 12d\vt for 241 hours; and No. 2 40oz I3dwt for 213 hours. The wash continues rather poor. Tho next cut, however, should get on to a richer run, as it hns been proved above and belorw. Tho Mosquito dredge, which hns for some time past been off tho main lead, got on to rich gold on the 17th, the result being 50oz for 126 hours' work. This week should prove whether there is a defined run or a mere patch. Tho opinion is that the gold will last for some time, being in lino with one of the feeders showing down frdm the higher ground. Aldinga (21oz for li 4 hours) lost some time. The country is broken, find it ie thought that richer ground is ahead. Bullor Junction is oh a strong lead that seems likely to lost. Kohinoor wash, though rich, is rough and too deep to be bottomed. Greenstone- Three-mile's actual dredging titno was less than 100 hours, as 60 hours" wns occupied iit clearing silt. Greenstouft Creek has evidently got another patch. Tlxro in a rumour thnt Mokoid (230z last week) will soon be in higher figures. NORTHERN MINING. The result of assays of a portion of the reefs taken by Captain Hodge on the occasion of his recenb visit of inspection to tho Waihi East claim, owned by an Auckland syndicate! proved the large lode to be gold-bearing. Better results were obtained from the smaller reefs; which have been traced from , Waihi Company's ground adjoining. \ Captain Hodge advises that a crosscut be put iv to the boundary to test two smaller reefs at a greater depth. Good progress is being made in the Waihi Grand Junction Gold Mining Company's mine with operations at Nob. 2 nnd 3 levels. At No. 2 level the drive north-eaat from No. 2 shaft is in 270 ft, where tho lode is 21 inches wide. It Is of payable grade, notwithstanding the shallowness of the workings. No. 6 wiuze is down 28ft, and the lode here is 7ft 2iu wide, and assays £4 9s per ton. No. 3 level is 90ft from No. 1 shaft at the face, and is in softer country. It is understood that the Wnihi Grand Junction Company has purchased the Kauri Gold Estates battery at Opitonui, nnd thnt it will be re-erected at Waihi. Crushing, it is expected, will be commenced in about six months' time. At a meeting of the Royal Oak of Hauraki (Coromondel) held in London last month, it was decided to sell the mino and plant and purchase the North Mount Boppy mine in New South Wales for £13,250. A shareholder remarked thnt Mr. Wolmer had reported highly on the Roynl Oak in the past, and they had got £5000 one year and £9000 another. It seemed absurd to let the property go for a small sum. The Chairman — "It is no good getting £8000 or £7000 if it costs £10,000 to get it." Mr. Cecil Hartridge thought it would be criminal if the directors wenb on nfter they had been advised not to by the mine manager. When tho Hnuraki Company wns sold they got £3500 in cash and onetenth in the local company. It wns on lines like that that the directors "of the Roynl Oak would be prepared to treat with tho New Zea-landers who wanted to take up the property. [It n.ay be added that since the English company gave up operations tributers havo been at work, and recently Martin and party got ■• haul of 311b of spt knens J