THE GOLDFIELDS.

New Zealand Herald, Volume XXVI, Issue 9378, 30 May 1889, Page 6

THE GOLDFIELDS.

COLONIST GULDMINTNG COMPANY. Thk annual meeting of the Colonist Goldmining Company was hold at Mr. D. G. MacDonnelTß office, Now Zealand Insurance Buildings, yesterday, Mr. J. M. Clark being in the chair. The directors' report and balance-sheet were adopted. The report stated that there had been a considerable improvement in tho mine, and tho prospects of the company were very favourable, Tho reef averaged from three to seven feot in thickness, and there were now 150 tons of ore waiting treatment. The balance-sheet showed tho receipts to be £OGS 33 2d, and the expenditure £656 7s lid. The assets, exclusive of 150 tons of oro now to grass, amounted to £57 lis 3d, and the liabilities to £4-4 7s Bd. The retiring directors, Messrs. S. B. Firth and J. F. Clark, wero re-elected, as also tho auditor, Mr. R. Macky. GEM GOLD MINING COMPANY. The annual meeting of the Gem Gold Mining Company was held yesterday afternoon at the office of the legal manager, Mr. 1). G. MaoDonnell, Now Zealand Insurance Buildings, Mr. Brown being in the chair. The directors' report, which was adopted, was as follows :—

In presenting you with our first report and balance-shoot we regret to state that the results of our operations have not as yet been attended with the success anticipated. The mine is, however, well opened up, tramlines laid down, and shoots and hoppers erected, and as the mine manager in his report, which is herewith submitted, speaks encouragingly of the present prospects of tho mine, we have fair grounds for hoping that a brighter future is in store for us. The balance-sheet herewith submitted exhibits in full a statement of the receipts and expenditure, assets and liabilities. The assets, as will bo observed, aro £56 19s lOd iu excess of the liabilities. In pursuance of tho company's rules Messrs. Keep and Maoky retire from the directory, and* Mr. R. G. Macky from the auditorship, but being eligiblo for re-election offer themselves for same.—For the directors, J. Howard K.EKP, Chairman. The balance-sheet, which was alsoadopted, showed the receipts to be £2217 IGs lid, and the expenditure £2213 14s -id. The assets are £23-1 7s 4d, and tho liabilities £177 7s 6d. Tho mine manager's report gave a resume of tho work which had been done in the mine since October, 18SS. It showed that the prospects of tho mine wore good, and that the work boing done ought to prove payable. Messrs. Seymour George ana James Macky were elected directors and Mr. R. Macky auditor.

[BY TELEGRAPH. OWN CORRESPONDENT.] Thames, Wednesday.

S HAREM ARK —Moanataiari, sellers 2s 6d ; Alburuia, 3s 3d, 3s 4d ; Saxon, 9s 6d, buyers 9s; May Queen, sellers 9d, buyers 7d.

MINE MANAGERS' REPORTS.

Cambria.The drive on tho hangingwall leader, No. 3 level, is in a distance of 24 feet. When breaking down the leader through the break colours of gold were soon. The leader is about ono foot in thickness, carrying good mineral. I will now start the leading stopo westward over this drive. The second stone from the Darwin rise is along 13 feet. Tlio leader is about one foot in thickness, carrying splendid mineral. When breaking down a few pounds of picked stone were obtained. Tho intermediate drive below No. 3 lovel is in a distance of 29 feet. The leader is about three inches in thickness, and at each breaking down good colours of gold are seen. I would recommend that driving be started on the leader westward of the winze intermediate level. I also recommend that two men bo pnt to rise on a band of mineral in the main reef above No. 3 level Darwin section. The prospects are most encouraging, and there is every reason to believo that gold will be found. 1 will start crushing about Friday next. Lone Hand. —The eastern drive in the Lono Hand section of the mine is now in a distance of 40 feet. The lender in the face of the drive is about three inches in thickness. Gold was seen when breaking down the quartz. The leading stope east is along 12 feet. The leader in the face of this stone is four inches in thickness. Colours of gold were seen through the quartz when breaking down the leader. The' second stope west is along 11 feet. The leader in the face of this stone is four inches in thickness. Colours of Kola were seen freely through tho quartz when breaking down the leader. The fourth stope east, Manchester section of tho mine, is along 61 feet. Tho roof in this stope is nine inches in thickness. Gold was seen when breaking down the reef. The fifth stope east is along 38 feet. The reef in tho face of this stope is 18 inches in thickness. Gold was seen through the quartz when breaking down the reof. The sixth stope is along nine feet. Tho reef in this stope is about twelve inches in thickness. Dabs and colours of gold were seen through the quartz when breaking down the reef. The rails have been laid up to the face of the reef in the General Chute drive at the low level. Stripping the reef was commenced to-day. Crushing was commenced to-day at Bull's battery with 13 head of stampers. Saxon. —-No. 5 level: The drive along tho course of tho No. 1 main reef going east or hi 11 ward of crosscut has been extended a farther distance of 14 feet. The reef is still about 18 inches in thickness ; a small vein in the hangingwall continues to show gold, and a few pounds of picked stone have boon occasionally saved from it, besides a network of small veins running in same wall occasionally show colours of gold. The country is still tight. The drive going west or seaward of crosscut has been again started, but the reef is still much broken up, and I am convinced the No. 1 break is close at hand. The leading stope has now l>een carried along on this reef for a distance of 85 feet, lis follows : From crosscut west to winze, 50 feet, and from crosscut.oast 35 feet; 50 feet has been timbered up, and passes are being farmed, and a start will be made with a second stone from winze, while tho leading stope is still being carried along on the eastern or hillward side. The reef in the loading stope has varied in thickness from 2 to 4 foet, and a littlo picked stone has frequently been saved. The quartz crushed from this stope and level during the week has not been shaping quite so well as previous week. At same level, the drive on the No. 2 reef hits been driven a farther distance of 12 feet. This reef is now fully 2 feet in thickness, and shows colours of gold at each breaking down. No. 3 lovel. No. I footwall leader : I havo again started the drive on this leader, and also carrying on the stopes. The leader all over averaged about 8 inches in thickness. A little gold is occasionally being seen in these stopes. No. 2 level : The stopes above this lovol in progress on foot and hangingwall reefs are as follow :—On footwall reef, 6 stopes, Nos. (3, 7. 8, 9, 10, and 11. In the Nos. 6, 7, and 8, the reef averages about 15 inches in thickness, while in Nos. 9 and 10 it does not average more than 6 indies, running in a hard bar for a length of 25 feet. No. 11 is near the junction, and the reef here is about 2 foot in thickness, and a little nicked stone is frequently saved from it. Hangingwall reef: Throe stopes are in progress, Nos. 8, 9, and 10. The reef in these stopes averages about 15 inches in thickness. A little picked stono is saved from here occasionally. Surface tunnel : This lias now been repaired, and rails laid down up to the face to-day. I have had a survey made, and the two reefs in the tunnel (referred to in previous report), which were supposed to be the same reefs as in the stopes above No. 2 level, but it is now found that the drive will require to be pushed ahead a farther distance of 30 feet to cut the roofs wo are now working on. This work is being proceeded with. Cleaning up and retorting for the fortnight's run of 32 stamps took place to-day, as follows : —22 stamps at company's battery, and 10 stamps at Cambria, Company's battery. Saxon Company's battery, 329 loads general quartz, 3060zs retorted gold ; 501bs picked stone, 42ozs retorted gold ; Cambria Company's battery, 144 loads general quart/., 94ozs retorted gold; total, 4420zs retorted gold, which was afterwards melted into a bar of 4360zs 1 Idwts.

Caledonian.— The drive at intermediate level lias been extended 11 feet during the week, arid no change has taken place in the appearance or size of the reef, but in the leading stopc, which has been advanced 10 feet, a great improvement is to be seen. The reef here shows colours of gold whenever broken down, and about a pound of fair picked stone was selected from the general dirt yesterday. Another stope has been started from tho rise, in which the reef is 18 inches thick, but no breaking down has yet taken place here. At No. 1 level the country is still tight, and as the most important work now in hand is the extension of the workings at intermediate level, I have shifted the men from No. 1 to that part of the mine.

IMPORTANT GOLD DISCOVERY. [Br telegraph.— fkkss ASSOCIATION.] Hokitxka, Wednesday. The recon' gold discovery at Waiho is of great impoi -ance. Two men divided £25 for five days/ work, whilst Gordon and party, three men, have three years' work on the ground which will pay £10 a-man a-week for the whole of the period. The locality is close to the right-hand bank of the Waiho, opposite Forks' ground, which appears to be an ancient river bed. The gold is got by sluicing the water led in from the river. The principal difficulties in working are from rocks, which are numerous and large.