THE GOLDFIELDS.

New Zealand Herald, Volume XXIV, Issue 7841, 10 January 1887, Page 3

THE GOLDFIELDS.

<* (from OUR' own oorrbspondbnt.J, Thames, Saturday;' Cambria.—l visited tbe mine on Thursday, but the mine manager's report, published at that time, conveys all the information I could give.' For the sake of rendering the matter as clear as possible I shall, however, give some explanation. Who's the lode being worked on at No. 2 level is has not yet been proved; What was apposed to be.the main reef was driven on to near the WaiotaM boundary. But after a certain point had been reached it became evident that soma* where it diverged from that followed at No. 3, as they went in different directions. So when the drive had been driven, say within 50 feet of the Waiotahl mine, it was abandoned, and a crosscut started some distance baok, with a view to finding that whioh had been driven on at No. 3 level. After cross* cutting sixty feet the lode now In hand was found. Whether it is exactly what was driven on at No. 3 iB skill a somewhat open question, for if the same, it should, as driven ■ in eastward, go into the footwall, but it is shaping more into the hangingwall instead. It may be not identioal, but yet a branch; To prove whether it is a distinct body in the. hangingwall of the main lode, the big crossout—i.e., that originally driven from, tha shaft on the boundary of the Darwin and Cambria —is being extended, and is passing through excellent sandstone. The lode itself is being driven in eastward and westward, and seems a foot to 15 incheß wide.' I was only able to see very imperfeotly, as the air was so light the candle would sonroely burn. The eastern drive is in 80 feet from the orossQUt, gold iB seen freely, and a little picked stone is obtained. Here the quartz contains some favourable mineral. Some strong blotches 'of gold are visible in ihe reef about 20 feet from the face. Westward the lode has been followed 50 feet,' making a total distance of 130 feet opened oat. Here some good hauls of specimens have been obtained, and gold was seen freely last breaking down. The lode looks very healthy, containing, as it does, abundance of silica excellent indication of good quartz. I see no reason to alter the opinion I expressed before the holidaysviz., that the lode will leave * handsome profit, but does not yet promise to be a really big thing. , According to accepted canons, there is not* sufficient mineral for a first-class patch. The Prince Imperial, however, was an exception to thia rule, but it was also an exception in another respect. Instead of being a heavy concentrated patch, deposit, or run, it was rather a series of detached patohes. One sfcope could not be regarded as a criterion of the next., Two stopes are being carried along, but none is yet near either faoe. Gold ia- seen freely, although not so much pioked stone has been reported ai from the drives. A winze has been started about twenty feet' from the western face, and 251b of specimens are reported therefrom to-day. This winze 1 should prove the identity of the lode. At No. 4 level the cross-cut towards the Trenton is still In hard country. The crashing is shaping very satisfactorily. Caledonian. —The stopes are op 30 feet; above No. 3 level, and blotches of gold are seen. At this point an intermediate level is | being driven eastward on the footwall, and westward on the hangingwall lode. The' quartz now contains a considerable quantity of good mineral, and gold is se-sn freely. Altogether the mine seems to be looking, better than it did a few weeks ago. Prince Imperial.— four men are omployed by the company. They are endeavouring to trace at No. 2 level the lode which Odgers and party are working with excellent results 27 feet below. Alburnia.— few words explain the position of this mine. The leader Is small, but the stopes produce the same satisfactory class of crushing dirt as hitherto, A winze' has been started to test the' lode below; it seemed of good quality on the floor of the ( drive. CAMBRIA: MEETING 05 SHARE* HOLDERS. The annual general meeting of shareholders of the company was held in the large room, New Zealand Insurance Build* ings, on Saturday last. Mr, C. Alexander-, occupied the chair. The advertisement calling the meeting was read, also the minutes of previous annual and extraordinary meetings were read and confirmed. The , directors' report was submitted, On the , motion of the Chairman, seconded by 1 Mr. Read, the report was adopted. The balance-sheet was passed, and the mine manager's report was approved, The directors were voted an honorarium of £100 for their > past year's services. The legal manager's claim for amalgamation services having been recommended in the directors' report for the ; shareholders' consideration it should be ex- ) plained that he received a payment of £10, which Mr. Scott considered quite inadequate for hlB services in winding up the Darwin i Company, and its amalgamation with the Cambria, hence its relegation to the share--1 holders for consideration. On the motion moved by Mr. Morpeth, seoonded by Mr. George, that £15 additional be voted, an amendment on the motion of Mr. Joshua . Jackson was moved, seoonded by Mr. IS. I Hornsby, "That £90 additional be voted." ' Notwithstanding a most eloquent speech In : favour of the amendment by Mr. Jackson ■ ' the motion of Mr. Morpeth was carried on . ' the show of hands. Mr. James Dickey wag appointed a director in room of the late Mr. , burst. Mr. C. Alexander, the retiring director, was re-elected, and Mr. J, A* ' Menzios was re-appointed auditor. A vote of thanks to the chairman closed the proceedings. Subjoined are the directors'and ' mine manager's reports. Dirbctors' Shport.—Your directors have the 1 honour to submit their annual report (or the year . ended December 27, 1886, and balance-sheet, of which . the following is a summary, namelyßeceipts: Cash, balance In hand last year, £5351 128; receipts' from other sources, £608 5s Id; gold from 4640 loads quartz, crushed for 67550s lldwt, sold lor £15,84118s '< 8d : total, £21,801 15s 9d. Disbursement! : Wages, £6154 2s 4d; general charges, £6286 0s 2d} dividend (12th), £7875 ; other payments disbursed, £105 3s 6d: cash, balance in hand, £1431 9s. 9d; total, £21,801 IKs 9d. The mine manager's report will be read, which deals 'with detail information for the shareholders. . The directors, however, have to state ' that early in the year they acquired the Darwin ; claim, which was paid for by shares, the necessary i authority for increase of capital having been obtained ' from the shareholders. The directors have pleasure is 1 reporting that this transaction has proved mutually 5 advantageous to tho two companies. The carrying oat of this purchase entailed considerable labour and trouble to the legal manager, for which he has not received any adequate remuneration, your directors not feeling justified in so applying the funds without the I consent of shareholders. They now reoommend that" a sum be voted for this purpose. Your directors regret that by the death of Mr. Hurst, the company has been deprived of his services as a director, and in > view of the early approach of the annual meeting,. j they preferred leaving tbe appointment of iiis suecessor to shareholders at this meeting; but they have much pleasure in rocommendlng that the vaoancy be filled by the appointment of Mr. James Dickey, as an r old Darwin director. The shareholders will also have to appoint another director in the room of Mr. O. ' Alexander, who retires, and is eligible, and offers > himself for re-election, Your directors also recom- ? mend an honorarium for their services, to be divided * I according to attendance. — Charles At.syihohb, , Chairman. ' Manager's Report.— 6th January, 1887. * I have tho honour to submit the following annual i report for the information of shareholders: The , works in hand at the beginning of the year in the Cambria section of the mine was the opening up of 1 the blocks of ground on the reefs between No. 8 and > 4 levels. The north drive at No. 4 level was , then in . 4 20 feet from the shaft. Thin drive was put In a c distance of 850 feet before it intersected the reel . A : rise was then put up to connect with the workings 1 that were then going on at an intermediate level. * This level was then fully opened up, but after work* ing out a good portion of the reef above this level, we found that It was not payable ; also, nothing was found payable at No. 4 level. At the same time blocks of ground were being worked above No. 3 level, from which good hauls of specimens and l payable crashing stuff were obtained. The work in progress now is the extending of Ura 7 south crosscut drive at No. 6 level, in which B the rock-borer is being used for the purpose of. B pushing on this work quickly and to more advantage than it can be done by hand labour. This drive ia ® now in a distance of 483 feet from the shaft, feinae 1 the amalgamation with the Darwin, the western drive a on the reef at No. 2 level in' the Darwin's section of „ the mine was extended a distance of 110 feet. Gold t was seen frequently in this drive, but nothing was 1 found in payable quantities; but after a survey of this r drive was made we found that this drive was not runi ning in the same direction as the drive that was put in at No. 3 level, on tbe hangingwall portion of, the 8 reef towards the Moanataiari boundary. A crosscut f drive was then put la on the hangingwall of this net . from this drive for the purpose of proving if this was . the proper reef, and after driving a distance of 62 feet the reef was intersected. It has now been driven on a; 7 distance of 76 feet eastward and 45 feet westward , from the crosscut; also stopes are now betas carried ; □ along •: the back of the drive. It varies from, l nine <• inches to two feet in thickness. Specimens i: 1 and picked stone are obtalruxl nearly _ every! i breaking down, and £ have "every reason to believe a that the ground now being opened up will prove pay* able. 38 loads of quarts and 1481b of specimens and/ 6 picked stone were crashed from here a fortnight ago, ® which gave » return of 197 gold. Quarts la again 0 being washed from here, which li shaping lor about o an ounce and a half to the load. 4617 lottds of quarts " and 14761b of specimen! have been crashed during the * year for tho return of 86300s of gold; also, 123} loads t Of tailings have been put through the bardamt at the e oompanre battery for the return of 90oa of fold.; _ The battery and winding machinery are in good works' Ing order. There is on bund 26402 of amalgam from 8 quarts oruahed, and 290z lodwt of amalgam from tailings. There at« also about 1001b specimens aad ; picked stone on hand.—l have,, tec., H. W. UoosUb ; • On Saturday last the following telegram was received from the uiin« manager s—" 261b ' specimens from tho cow winze on hanging '* wall lodfiv AJavel,"