MINING.

Evening Star, Issue 15480, 30 April 1914, Page 9

MINING.

dp&dge worked 190 hoars for a distame usMad of 15ft. Tfce bottom wj»s composed of sandstone 03d clay. The g*wJ» to ne will probably increase in depth as tie dieage advances; and should give better returns, bgt at present there are some very largebjttudesp blocking the cut in tl s deeptfit ground. These is bo change in the width ojf the oft, but the deep gro*-4 is making towards tie Cromwell side o| the river. The gold won iact week was of a scaly nature. The river was fairly steady, and w<» gsadflsjjy reeeding- w , .„ , The secretary -of ttee Nokoraai Hydraulic Sluicing Company reports that No. 1 had a full week's sluicing, and good progress has been flaade. At No. 2 eix men ■were employed or the race overhauling the flaming botes. No. 3 lost two days' sluicing last week toja break in the race. Tiree boxes were wanted for the break, whieh was finished on Saturday. Ten feet had been sunk, and the elevator was bow do"Ti to 40ft. Fair progress has been made on the No. 2 extension lace, and 40 ehaine were finished The Government ha-v* granted a £JO,OOO jabsidy for the development of the Fiery Cross, Hopeful, Welcome Group at Boataiaiis, Jteefton. A find of bitumen and petroleum was! resentiy made by Mr H. Jaffrey on the i Xnllabor Plains, north of the head of the: Great Australian Bight. About 5Q.0C0 Mjuare mijes of these plains cossets of sedisjentary rocks of the miccene and eocene eand, clay, shales, sandstones, and limestones, a series whence 8o per cent, cf the world's supply of petroleum is derived. The South Australian Oil Wells Co. have secured a prospecting license over two square miles adjoining Jaffrey's dis-y>very, which will he thoroughly prospected tor pet-pojeum. THAMES DEEP LEVELS. The condition of affairs as r J 2iirds the Thames Deep Levels is unchanged. The main crosscut at the I.COOft level is fctill full up with gas from the chamner inwards, notwithstanding the fart that tho Blower is kept constantly running. The pipps are working satisfactorily, and are now easily keeping the water under oont»pj, running at &e speed of a pout 11 revojuttons per minute. Steady progress is feeing made with the sinking; ot the Waiotalii main shaft %r> connect viith the i,oCofc "fetrl, and the shaft ip now down to a total depth of B|2ft below the surface. As the rise has been p»t np for a neight *i 85ft fwm the I,oooft level, immediately below the bottom of the shaft, a further 48ft of sinking should connect with the ti.p of this rise. When this is effected (which should be in about four or five weeks' tim*) there ought hot to be any serious difieulty in clearing o»t the gas from the I,oooft JereJ, as the Waiotahi shaft _is filled w|th a powerful exhaust fan. which. (jkrald wre the effect of drawing out the had air and ga« through the rise from the UBBB& 'level. • SAXON. Driving both east' and west fr<m the crosscut at No. 7 level of the Saxon Mine is being continued on the No. 2 rtef in the wester* face. A further 12ft has been - driven for the week, and rhe reef stripped for that distance, but no quartz has been broken down during the week. It wiil he broken down during the coming week. A small break is being passed through in the face, aod tie country beyond t'e break appears to be of a better V-sjnpc.on In the eastern drive, the distance of alout 75ft has bwa driven from the crosscut, the country being of a good description. The reef in the face is about 20in in thickness. and of a rnbhly nature. The .juartz is carrying a largo quantity of good rr.ir.erai, and is showing strong dabs of coarse fold at each breaking down, quite sufficient to warrant the assumption that the ore ■wMch is being sav«d for treatment} is of a fully fayahle quality. N.Z. CROWN MINES. The director* of the New Zealand Ctown Mines have decided to ecrplore the Welcome, reef below the N!o. 5b_.level, to.a depth of about 300 ft, and a winze is being «nk at a point 800 ft south from the shaft. In connection with this matter, the following cablegram has been sent to the; head jffice of the cbmpany, London:—"Underiand winze has been sunk to a depth of ' 56ft. On the hanging-wall side for the last 4ft from bottom, reef is 15in wide, assaying £9 per ton.- Ground letting out water freely. Have not yet got to the true* hanging-wall. Commenced to crosscut in tgdaection." . OCCIDENTAL. No. 2 reef of the Occidental Mine looks favorable, good dabs of gold being freely ten in the ore. A few pounds of good picked efcone have ben found, and the genral ore is all being saved for treatment. In the aooth drive the country k good, and the reef came* favorable mineral. TALISMAN CONSOLIDATED. Tho manager of the Talisman Gold Mining Company has sent the following cablegram to London:—"No. 14 level, south drive: Progress, 44 f t; reef, 54in wide; aasavs low. No. 12 winze: sunk 4ft; reef'wider than winze; assays Jow/' KUBANTji~~Tie country in the Magarine level of the Kuxanui Mine is a little firmer, but still of a gopd class. A start has been made wjth the rise on No 3 leader, and the quartz broken is carrying excellent mineral s. WAIHI GOLD MINING COMPANY. The attorneys of the Waihi Gold Mining Company have received cable advice from London that the annual report states that j the gross profit for the year is £140,700. i Dividends and income tax absorb £121,600, { and £24,000 has been written off for de- j preciation. A further transfer' for the | Horahora scheme of £3,750 has been made, j leaving £9,200 to be carried forward. j * WATHI GRAND, JUNCTION. j Tho annual meeting of the Waihi Grand Junction has been fixed for May 7. After writing off depreciation (£17.188) and development redemption (£51,736) the net profit, with the balance brought forward, is £61,207. An interim dividend absorbed £19,21 Sk and the directors have placed £15,000 to reserve. They recommend a final dividend of 5 per cent., leaving £7,769 to carry forward. THE SHARE MARKET. • j DIT>TJDIN EXCHANGE. j A parcel of Rising Suns changed hands ; this morning at, 20s 6d, and one of Waihi ! Grand Junctions at 28a. Both W&ihis and Junctions were firm, prices showing little variation from yesterday's quotations. In tha investment division there was good demand for stocks, but there were few sellers on the market. The following are ih.« noon quotations : Golden Bed (old issue)—Sel 7/. Rising Sun—Buy 20/. —Sluicing.— Nokomai Hydraulic—Buy 22/6. ' —Quartz. — Blackwater Mines—Sel 21/. Progress Mines of N.Z.—JJuy 12/, sel Waihi—Buy 43/9, sel 44/6. Waihi Grand JunOtioit—Buy 27/3, sel 27/6 - -!*-.- National Bank of N.Z.—Bu-» 109/. Bank of N.Z.—Buy 203/6. Bank of N.Z. (new)— Buy £l6 7/6. National Insurance Go.—Bay 52/6* Union Steam Ship Co. (ord.)— liny 24/9, sel 25/2. Union: Steam Ship Co. (nref.)—Sal 21/. Wcstport Coal Co.—Buy 28/. Woollen (prof.)— Buy 103/, sel - 106/Mosgiel Woollen Factory—Buy 73'. N.Z. Consolidated Dental—Buy 21/. Wriat, Stephenson (pi«.)— • Sel 100/.