MINING.

Evening Star, Issue 14513, 3 November 1910, Page 6

MINING.

The Rise and Shine No. 2 dredge last week worked a cut of 460 ft, with a depth of from 40ft to 48ft, making 12ft ahead. There was no appreciable change in tho character of the ground. In the Wealth of Nations mine (Oonfolidated Goldfields group) No. 10 level south drive Las been extended on the reef 47ft. Assays of forty-eight samples of stone taken over that distance average loz 9dwt (£5 16s) per ton. The average width of the reef is 7ft, and in the last 18ft of driving 10ft of stone has been taken out, with no hanging wall showing. A company has been formed to work the Arrow River in the vicinity of Arrowtown by hydraulic methods, says an exchange. The Lady Roxburgh dredge-master reporta that " op’ v "-tions were commenced by opening on the beach side of the cut, getting over that portion quickly. Following out on the dipping reef and into the main current brought us iuto heavy drift. Tho bottom, wliich is soft and jointy, is lying on three beaches, each with a quick grade towards tho river. Tho extreme depth inside is 15ft, and on the outside it is 45ft. Owing to the drift and time lest by stoppages, the dredge did not get over the usual area of bottom.” The Rise and Shine No. 1 dredge made Bft ahead on a cut of GOO ft last week. Tho depth ranged from 42ft to 48ft, :md the ground was similar to that worked in the previous week. The Zeehan Consolidated Company’s properly, Thames, says the Auckland 1 Herald,’ Ls at the present tune attracting some attention on account of the success which is attending the development work now being carried out. The elaim is located near the head of Puhoi Creek, in tho Waiomo district, and the workings are _ distant less than thirty chains from the principal workings of the Monowai claim. The original Mount Zeehan Gold Mine Company, as a result of their prospecting work, opened up several promising reefs on this property, ranging in width from one to eight or ten feet, and paddocked a fair tonnage of ore, which is expected to yield a good profit when facilities are available for crusliing. The now company —tho Zeehan Consolidated—who assumed control of tho property some few weeks ago, are losing no time in pushing on development work. At present winzing is in progress on one of the reefs, and a run of pay ore has already been proved from the floor of the adit level to a depth of over 75ft. In the bottom of the winze the reef is 4ft in width, and the values are good. The horizontal length of this run of ore has yet to bo ascertained, but the prospects for a considerable stretch along the level are quite as good as at the point where winzing showed good ore to extend downwards. A considerable length of paydirt is therefore exacted to exist on the line of reef below the floor of this level. A trial crushing from the level gave £9 12s per ton. At a later date eight tons of ore, exclusive of 901b of picked stone selected from it, was taken from, the and realised £lO per ton. The Zeehan ore resembles that of the Sylvia claim. RETURN. Electric No. 1 : 290z Idwt. 7 days. THE SHARE MARKET. DUNEDIN EXCHANGE. - The Stock Exchange sheet, as far as sales and reported sales were concerned, was blank tlris morning. There was a considerable amount of quoting done. In dredging stocks Blackwater sellers still hold out wor a good price (7s) ; buyers’ offer was ss. No sides have taken place for a considerable time; apparently shareholders are going to take the directors’ advice, given at the last annual meeting, and hold on to their shares. ’ln sluicing stocks Nokomais were for sale at 18s at both calls. At the first call buyers offered 14s 6d, but at the second call there was no offer. In quartz stocks Talismans nearly sold, only 3d separating buyer and seller at the noon* call, when (he quote was 54s 9<l and 555. At the preceding call buyers offered 55s and sellers asked 565. New issue shares were wanted at 565. Junctions and Waihis wore much tho same as yesterday. Quotations tins morning: - - —Dredging.— Blackwater (coni.)—Buy 5/, eel 7/. Electric—Sol 2/. Island Block—’Buy 4/6, sel s’. No Town Creek—Buy 7/. Rise ;ukl Shine—Bel 45,'. Rising Ban —Buy 42/6. —Sluicing.— Ross Goldfields —Sel 2/10. Nokomai Hydraulic —Bel 18/. Muddy Terrace—Buy 20/, sol 21/. —Quartz. — Consolidated Goldfields. —Buy 1J o. .-c 1 21/. May Queen —Buy 3/7, sel 3/11. N.Z. Crown Mures —Buy 4/2, sel 4/6. New Sylvia- —Buy o/4j, scl 3/7. Old Hauraki —Sel 2/7^. Talisman Consolidated —Buv 54/9, sel 55/. Talisman Consolidated (new issue) —Buy 36/. Watchman —Buy s', sil 3,-o. Waihi—Buy 150/, sel 135/. Wailii Extended—Bel 2/5. Waihi Grand Junction—Buy 51/9, sel 52/9. Wahhabi - Buy 3/4, scl 5/9. —lnvestments. National Insurance Co.—Buy 52/. Standard Insurance Co.—Buy 25/6, sel 26/5. Westport Coal Co. —Buy 127/9. National Mortgage Co —Buy 65/, scl 67/6. National Mortgage Co (London register) —Buv 62/. Milburn Lime and Cement (£1) —Buy 39 /. Mosglel Woollen Factory—Buy 66/. N.Z. Drug Co., Ltd. (£2) —Buy 51/. Oamaru Woollen (ord.)—-Buy 24/. Christchurch Meat Co. —Buy 287/6. Palmerston North Gas —Buy 172/6. Whitcomb© and Tombs—Buy 122/6. GOLD AND SILVER EXPORT. WELLINGTON, November 5. The export of gold for the ten months ended October 31 was 404,6940z, valued at £1,601,115—a decrease for tho ten months of 17,7300z, valued at £78,101. During the month of October 01,8700z of gold, valued at £126,236, was exported, being 1 a decrease of 18;081oz, valued at £72,130. j The total quantity of silver exported lor Hie first ten months of the present year was 1,448,2220z, valued at £145,150, which was a decrease of 563,1780z, of the value of £4,840. The export of silver for October was 124,7860z, valued at £12,524, being a decrease of 28,3810z, valued at £2,757, as compared with the corresponding month 1 of last year.