THE GOLDFIELDS.

New Zealand Herald, Volume XIV, Issue 4748, 3 February 1877, Page 3

THE GOLDFIELDS.

[from our owx correspondents.] Thames, Friday. QUEEN" OF THE May.—Crushing for this company is going on at Bull's battery with full force of £7 stampers, and the stuff is showing up for a good return. Working in the low level will, howaver, be r-topped this day (Friday), as the water is just making its appearance on the floor of the drive, and consequently will stop operations for a few weeks. Judd and Co., contractors for repairs to the Piako pumping gear, are malting good progress with, their work, and will likely have it completed within the time (ten days). Queen of Beauty,—Owing to the flooding of the low level, work has had to be discontinued and the battery stopped. The cleaning up for two days resulted in 47oze. 3dwts. gold. Anxie G.M. Company.—Notice of an extraordinary meeting of shareholders to be held is withdrawn. The directors having come to terms upon which the mine shall be worked, and arranged with Mr. Perry to crush at the Owharoa battery, the necessity for the meeting is obviated. The unexpected return of gold from the test crushings of each of the claims has caused a favourable reaction in Owharoa stock. Coeojiajtdel, Friday. Coromandel G.M. Company.—The contractors are making rapid progress with sinking the shaft in the above company's ground, through splendid country. A few feet should now suffice to intersect the .Northern leader from the Union Beach, which traverses the whole length of the Coromandel Company's property. The situation of this gronnd gives good encouragement for hoping that when the reef is cut gold in payable quantity will be obtained, in which case the property will become very valuable, as the ground can be worked at comparatively small expense. Oiiinemutri, Tuesday. The gold returns from the trial crushings at Owharoa are encouraging, the more so, as the show on the plates while the stone was being crushed by the stampers, gave little evidence of its value—indeed induced the belief, that the samples tried were unprofitable. A general opinion was entertained that the mines would not pay, and the consequence an abandonment of the district, by those who had hitherto invested capital and labour. The quantity of amalgam, prinoipally from out the stamper boxes, was not even up to average, but the result in each instance gave an unusual per oentage of gold. The return as appended, will dispel any fear as to the payable value of the ground, and should revive active operations by those interested. The mines are admirably situated, can be easily worked by a united company or separately, and having a good mill, with cheap water power, the cost of mining, trucking, and crushing the stone should be so low as to leave a very respectable margin for profit.