MINING.

Evening Star, Issue 14054, 8 May 1909, Page 5

MINING.

River height this morning, sft; .weather mild.

We have it on good authority that the mortgagees have taken possession of the Alexandra Lead Company’s dredge, claim, and assets. The whole property' will probably be offered for sale by public aum tkm at an, early date. The Muddy Creek dredge-master has no wash-up to report this week, the friction drive of the dredge having broken. A dividend of Is 3d per share and a bonus of 6d per share, involving a total of £105,000, have been declared by the directors of the Mount Lyell Company, payable on June 15. The Auckland share market was less excited yesterday, and although a voluminous amount of business was put through in mining stocks prices showed a downward tendency. Waihi Grand Junctions sold at prices ranging from £2 2s to late sellers at £2 2s 9d, with buyers at £2 2s 6d. Grand Junct ion options sold at 18s. with buyers at 16s. Waihi Extended sold up to 5s lOd, with late sellers at 5s lid. and Waihi Consolidated up to 2s 6d, with sellers asking 2s 7d. Pride of Waihi c'-dd at 7s, and Waihi Beach at 6s and 7s. Waihi were done at £9 4s, at which price more were offered, buyers remaining at £9 3s 6d. Talisman sold at £4 9s each call.

During the month of April the Talisman Consolidated crushed arid treated 3.9H) tons of ore for a yield of bullion valued at £17.540. The total won from the mine to date is £1,067,681. A further message regarding the roc? struck in the Waihi Extended mine yesterday states that the intersection occurred in the low level crosscut, which was being driven to pick up the main Martha reef of the Waihi mine. The manager stated that possibly it- is this lode. He also staled that the strike of th" reef was in the direction of the adjoining property, the Pride of Waihi. Further developments for the time being are owing to the volume of water coining front the reef.

-\ wire from Suva states that a mining ordnviiiec has been proclaimed. The Levketey -Syndicate Has been grant-'-"’ 30,000 acres as a prospecting confess/;;. f“_r six months. A number of Australian minim; men are now in Suva.

A resolution has been carried bv \h' Federated Minors’ Union of Western Ans Iralia that tiie members of the State Par liament be urged to pass legislation <. provide_ that the proportion of foreigner* to Britishers in any one mine shall no; exceed ten to one.

The Waikaka. district has well earned the fame of being the ideal dredging tie!;! of the Dominion, but- the available'areas are now all occupied. A deep lead of alluvial grits crosses the head «J this vallcv near the Waikaka township, and while known to contain payable ground, has been the cause of much speculation as to a suitable method to work it. The Waikaka Lnitcd Dredging Company is now engaged boring this lead to ascertain its extent and value.

The Australasian gold vield for the first quarter of 1909 fails to'disclose any revival in the industry. Victoria does not show up badly, owing to the better returns obtained last month from several centres, especially in the alluvial districts. The lower grade stone being mined at Walhalla, unfortunately, has brought the total for that centre down substantial! v. Queensland about holds its own, but Western Australia and New South Wales each report lower returns. The figures for the Commonwealth for the quarter are 51.2670z below those for the same term last year. " It may not be generally known that the dredges in the Alexandra, and Clutha districts are working on a false bottom, and not on a true rock bottom. It is not known what exists below this false bottom, and it is satisfactory to learn that the Earnscleugh Company at Alexandra and the Electric Company at Cromwell have arranged for the use of the Government Keystone drill, when it is available, in order to probe the mysteries of those extensive river basins.

Illicit gold-buying having been verv largely suppressed in Victoria, it is found, that parcels of the precious metal are being sent across the borders into the adjoining States for disposal. Accordingly the Chamber of M ines has' been strongly urging the Government of New South Wales to pass_ legislation on the lines of that adopted in Victoria. The reply received from the Mines Department is thoroughly sympathetic, and there appears to be every probability that a Bill to deal with the subject will be submitted to the New South Wales Parliament during its approaching session. In Queensland mining investors are also co-operating in the movement, and the subject has been brought up for discussion in South Australia. Should all the States come into line in this matter, the evil will soon be reduced to small dimensions.

It is refreshing nowadays to hear of the erection of a new dredge, but such ,is the case at Waikaka, where the Messrs M‘George Bros, are building a more than usually powerful dredge. These owners already have two dredges in successful operation in the district, and are firm believers in having dredges with plenty of power and strength. While on the subject of dredge-power, we would point out that the Cliitha basin at Cromwell appears to offer special facilities for the success!/] use of dredges of a much larger type even than those now in operation there. The use of a producer-gas plant to drive the pump would, no doubt, tend to cheapen costs.

The question of successfully working alluvial ground not amenable to treatment by dredges of the bucket type, and where conditions necessary for working by hydraulic sluicing do" not prevail, is one of some importance to the mining industry of Otago and Southland. Large areas o‘f maiden ground, and also of old worked ground, exist which are known to be payably auriferous, provided a sufficient quantity of material can be treated. This, of course, is the keynote to success in working any alluvial area. The system of installing high-duty, steam-driven centrifugal pumps (of special design) on pontoons has long been in vogue in Victoria and New South Wales. The great advantage of the system as practised in those States is that the bottom is laid bare and thoroughly cleaned, and. in this the system compares favorably with the blind stabbing operations of a bucket dredge. We are pleased to learn that a plant of this description has recently been installed at Bahia, in Southland,‘and that its operations have demonstrated its practicability in the future working of alluvial fiats and terraces. We have no doubt that such a plant placed upon barges and provided with steam, electrical, or producer-mis power (not less than 80 indicated horsepower) would enable many of the alluvial Rats and creek-hods throughout the goldfields to be reworked at a profit. RETURNS. Waikaka United No. 1 ; ]4oz 2dwt. 12H hours. Waikaka United No. 2 : 340z Bdwt. 130 hours. Rising Sun : 550z 7dwt, 124 hours. Electric No. 2 : 420z, w-eek. THE KEYSTONE BORER. AN UNFAVORABLE REPORT. Mr J. M. Stewart, in compliance with the request of the Mount Ida "Deep Leads Prospecting Company to inspect and report upon the possibilities of the Keystone driller, submitted the following : “The Keystone driller lately Imported by the Government, and secured by you to test the deep levels around Naeebv. has, with the equipment in hand, already reached the limit of its capacity. The causes of this early: stoppage are attributable to two sources—viz. : (1) To the quality of the pipes supplied; (2) the nature of the strata passed through. Had •I flush-jointed pipes of equal thickness and ■ strength been supplied, a much greater depth could have been attained before 1 friction made itself master. of the operaj Lome From Mr Searie’s record of strata, 1 and from my own observation, I am ccn--1 vinced that it is impossible to proceed to any greater depth with the appliances at hand. J he only possibility of reaching a greater depth at this stage is bv telescopj ing. Another string of tools and all other

equipment, together with a set of 4in casing, is now necessary before the wort can proceed. Under favorable conditions the bore tan be extended to (approximately) the 250 ft level, depending entirely upon the nature of the strata encountered. At this depth, providing reef has not been struck, it will be reasonable to expect friction to again defy all efforts to sink further. The capacity of this Keystone driller depends entirely upon the nature of the strata proposed to bore. In solid country it is capable of boring to very great depth, but to confine the plant to a six-inch bore in the strata around Naseby and expect to reach the 350 ft level is absurd and unreasonable. The limit to which these pipes tan be driven, in any of your clay deposits can safely be put down at 150 ft below water level. The question of recovering the tubes is one of great importance, and after having made a fail' attempt 1 am convinced that, owing to the excessive number of couplings, and to the suction of the pipe clay, these are only recoverable at a cost- as'great as their actual value. I might add that the roost important part of the equipment for pipe-drawing purposes has not been imported with the plant. The alternatives now before you are : (1) To telescope; (2) to abandon. I would advise vou, if future bores are decided upon, to commence with an eight-inch casing, in which ease no outlay with regard to tools or pumps would be necessary.” On the prospects of eventually locating leads of gold, Mr Stewart expressed the lollowing opinion:—-"To enable me to reply to your wish to express my opinion as to the possibilities of meeting with success in the ccep-sinking operations now in progress, I took advantage of all the time at command for inspection, and I regret to say that to-my mind you can entertain very little hopes of meeting with success. I am of the opinion That the gold found around Naseoy has been brought thither tiy glacier action and deposited into the then inland or lake. The gullies now appearing have been cut out bv running streams after the sea had receded. In all piobability gold will be found to exist in - localit.cs under the false bottom for a limited depth, at the junction of the schist rock, but I do not anticipate any prospect, of discovering an extensive ami orofitable deep lead. It is a question that drop sinking alone can decide, and’ you have certainly chosen one of the most nkcjy localities for meeting with success.” THE SHARE MARKET, DUXEDIK EXCHANGE. Quotations : Alexandra Eureka—Sel 3/. I liar! ton Creek—Sel 3/. Electric—lt ay 2/9, sel 5/. Holden Bed—Buv 6/3, sel 7/5. Hartley and Riley—Buy 21/6, sel 27/6. Koputai—-Sel 42/6. Mystery Flat—Sel 50/. No Town Creek—Buy 10/6. Rise and Shine—Buy* 51/. Rising Sun—Buy 52/. Roxburgh Amalgamated (pd.)—Sel 7/6. Talisman Consolidated—Buy 48/9, sel 19/6, sale 49/. Waihi—Sel 184/, Waihi Extended—Buy 6/, sal 5 6/. Waihi Grand Junction—Buv 44/. sel 44/6, sale 44/. Tasmanian Copper—Buy 5/, sel 5/9. Bank of X.Z.—Buy 180/. Standard Insurance Co.—Buy 22/, sel 22/9. Westport Coal Co.—Sel 150/. Perpetual Trustees Co.—Sel 17/6. Lime and Cement (£1) Sel „ Mil burn Lime and Cement (10/)—Sel 14/ X.Z. Drug Co., Ltd. (£2>—Sel 47/6. X.Z. Portland Cement—4Sel 41/. •Otago Daily Times—Buy £2l 17/6. Rope and Twine—Sel 20/6. D.I.C. (pref.)—Buy 21/. \