THE GOLDFIELDS.

New Zealand Herald, Volume XXVI, Issue 9325, 30 March 1889, Page 6

THE GOLDFIELDS.

TnE general meeting of tho shareholders of the Goldwater Gold and Silver Mining Company was hold yesterday, at Mr. D. G. MacDonnell's office. There was a full quorum present, Mr. C Alexander presiding. The annual report of the directors was read and adopted. It stated that during the year there had been thirty tons of ore treated, which had produced bullion worth £261 1-5 Id, and the directors had thought this so satisfactory that they had been considering the advisability of erecting machinery at the mine for the treatment of the ore, as the cost of bringing it to Auckland or the Thames for reduction was so great that the company could derive no profit-. . Fending some steps being taken in this direction, work in the mine had been for the meantime suspended. The report of the mine manager, Mr. M. Kelly, was read ; it showed that rich prospects were recently seen. The retiring directors, Messrs. N. R. Alexander and M. Kelly, were again chosen, and Mr. T. A. Menzies was re-appointed auditor.

[FROM our OWN correspondent.] Thames, Friday. Bio Pump.—Steam was got up in the three old boilers last evening, and pumping operations resumed about eight o'clock. This morning, all tho connections having been completed, steam was also gob up in the new boiler, and, in conjunction with the others, is now doing its work in an efficient manner. Cambria. —The winze below No. 3 level in the Darwin section was to-day connected with the crosscut at No. -1 level. A start will now be made to drive upon one of the leaders sunk upon with the view of opening up a block lor etoping as speedily as possible. Caledonian*. —During the present week operations in the mine at No. 1 level have been principally confined to driving upon No. 1 reef. TIIO body of quartz shows a width of about two feet, and is composed of a well-mineralised class of quartz, but no gold has yet been seen in it. Saxon.—Rather slow progress is being made with the drive between the two reefs at No. 5 level, due to the tight nature of the sandstone, and its being also interlaced with numerous small stringers of quartz. Quartz is broken daily from the two-foot reef, but no gold is seen in the quartz. This reef is somewhat split up at present. As the battery is about to under go a few slight repairs, the amalgam on hand will be retorted to-morrow. [BY TELEGRAPH.OWN CORRESPONDENT.] Thames, Friday. Sn a remarket.—Cambria, buyers, .'is Gd ; Manukau, sellers, Is Gd ; buyers, Is 4d ; Moanatuiri, '2s Gd : Caledonian, sellers, Is 7d ; Saxon, buyers, 9s ; Trenton, 3s 9d ; sellers, 4s ; buyers, 3s 9d ; Colonist, sellers, 3s.

MINE MANAGERS' REPORTS.

New Moanataiaki. — The lead in the winze at No. 3 level was again broken down to-day. It is not looking quite so well, there being a scarcity of the good mineral through the stone. This was caused by a flat band of softer ground coming in from the hangingwall. A few colours of gold were, however, seen, and the, ground appears to bo making all right again underneath the soft band. The drive at No. 4 level has now advanced 30 feet through the reef. To-day there was sandstone showing in the back of the drive, which I am in hopes is the hanginjwall. The quartz has improved considerably in appearance during the last day or two. I have not been able to get the trial parcel through the single stamper yet, but will start on it to-morrow. Cambria. —The leader cut in the cross-cut at No. 4 level to-day is about 6 inches in thickness, and there is good mineral through the quartz. This leader is running in a southerly direction, and dipping westerlev. The country is splendid white sandstone, with black mineral veins running through it, and everything that could be desired for gold. The mine manager wired yesterday afternoon :—" Cross-cut No. 4 level holed to winze."

Lone Hand.—The directors met yesterday and arranged several important matters : one of them the appointment of a mine manager, which is in train.