MINING.

Evening Star, Issue 14626, 24 July 1911, Page 8

MINING.

The Molyneux I'iver was at the 4ft mark at Alexandra this morning. The weather was dull. For the first four of the last dredging week the Master ton dredge worked on a patch of wash in the eastern side of the working face. The dredge master thought this patch might improve as he worked ahead, but it gradually became poorer, and was; abandoned on Monday, when the dredge was shifted back to the western side. The width of the working face is now four chains. Winter has fairly set in on theShotover, consequently there is nothing doing in mining, with the exception of the river claims. Messrs Smith Bros., J. Johnson, and P. Lynch (Sandhills Syndicate) are. still working, but the frosts are a great inconvenience. The Komata Reefs Gold Mininsr Company, during the four-weekly period ended July 8. crushed and treated 550 tons of ore for a return of bullion valued at £1,257. Compared with the yield for the corresponding period of last year, when 800 tons yielded £1,610, the past month's yield shows a decrease of £353. The approximate cost under revenue account for the past month was £B7B, and under development account £255. The. total output from the mine to date is £370,706. Prospecting with the Keystone borer has been commenced on the Terevnakau River bed. '£ho scene of operations (according to the Kumava 'Times') is close to tho blue reef below the confluence of the Greenstone Creel; and the Teremakau, a little over half a mile from the traffic bridce. A depth of 14ft was bored during 2i, hour?' work. The machinery was somewhat stiff, and the heavy nature of the river bed impeded the progress the drill. Tt is thought that there is nix 'it 20ft of tailings to penetrate before the river bed proper is reached. The spoil from the bore is washed bv means of a cradle. Four men are ensured on the work, under the supervision of Mr Scale. Tt is the opinion of many miners tha,t tlw prospecting will prove that the river bed is highly auriferous. The recent find of quartz at Owen (Murc.hison) district has rapidly been picked up by investors, says the ' West Coast Times.' Tho reef itself averages 45ft wide, and is plainly traceable- for several miles. The stone t-iken is exceptionally rich in minerals. VtiT instance, one sample test<v) at the Government I,nbor'>torv shows that there, was present £2 Cs 4d"worth of .cold. £5 Os lOd worth of silver, and 17.77 per cent, of lead, valued at £l3 a ton. Other samples show values worth studying, and. considering the nase with which the mine can be worked, it should be a jrreat one in every sense. Mr Charles Maurice, of Nelson, is float-in.- the. company, and is meeting with creat success in Lofton, •everyone who knows the country beinc; confident of a. rich return. the' share market. nrrvEDiif fatr.wgk. Sales on 'Chanrro: Waihi JnneiioT), 27s 3d, 26s lOjcl ; New Sylvia. 3s lOd. Salreported: New Sylvia, os. 9d. Quotations: —Dredying.— Blackwater (paidV—Sel 10;'. Chicago—Buy 1 a. Electric—Buy 2/6. set 3''. (.Jolden Bed—Buv 13/6. Koputai—B'uv 14/, eel 15 : C. No Town Creek—Buy 5 <6. Rise, and Shine—Buy 36'5, sel 08,'. —Quartz. — Consolidated Goldfields—Sel 20/6. Kuranui Caledonian—Buv I,', eei 1/4. May Queen —Buy 2,2. sol 2_5. New Svlvia-—Buv 3/9. sel cell. Old H'auraki—«el 2/3. ' ] Talisman Consolidated—T3nv 50/6. sel • 51/6. ' i Saxon —Buy 2/6 A. s*l 2/8. Waitansi—Buv 3/2. 6*l 7>15. Waihi—Buy 62/6,'sel 63/9. Waihi Grand Junction—Buy 26/10, sel j 27/3. —lnvestments. | National Bank of New Zealand—Buy 118/. National Insurance. Co.—Buv 30-'. N.Z. Insurance Co.—Sel 90. ; . Mosgiel Woollen Factory—Buy 70/6. Dominion Rubber—Buv 4/'3 p. N.Z. Paper Milk—Buy 21.'. -e-1 21/6. Perpetual Trustees Co.—Buy 22/6.