THE GOLDFIELDS.

New Zealand Herald, Volume XXVII, Issue 8285, 18 June 1890, Page 6

THE GOLDFIELDS.

« [by TELEGRAPH. —OWN CORRESPONDENT.] Thames, Tuesday. Dives.This company will complete a crushing of 60 or 70 loads to-morrow, and expect a fair return. Operations upon the main reef are to be commenced at No. 3 level at once. Caledonian.—Crushing operations for this company will commenco al the Cambria buttery to-morrow. From 30 to 40 loads will bo treated. Ota ma (Kuaotumi). —A crushing of 61 tons of quartz from this mine was completed at the Moanatoiari battery to-day, for the good return of 1390z (kiwts melted gold. All tailings accumulated from this crushing are being treated in tho Watson-Deuny pans at the Onslow reduction works, and it is exj)ectod that the gold obtained therefrom will materially aid to swell the reborn. LoNK Hand.Cleaning up and retorting for this company took place to-day, after a crushing of 93 loads of quartz, with tho result that 68oz 6dwbs retorted gold woro obtained. Crushing operations arc now suspended, as only six men are now employed in the mine pushing ahead the eastern drive, where the reef is fully 3 feet thick, and a point is now reached when a junction with the Moa reef may daily bo expected.

MINE MANAGERS* REPORTS. Orlando. — Tl»o first work undertaken was the rising from Carpenter's reef in the low level to the surface level for the purposes of ventilation and opening up a block for sfcoping operations. When this was done, a contract was lob to drive on a reef supposed jit the time to be the Bendigo big reef. Contemporary with this contract stoping operations were carried on from the rise northward towards Pott's workings, and here colours of gold woro soon, ami the reef generally bore a good appearance. Owing to the ground above the surface level being blocked out right to tlie creek, an opportunity was afforded for the influx of its water, which, finding its way to the surface level, percolated through the reef, ami hindered atoning operations so greatly that I was reluctantly compiled to advise the abandoning of this work till dry weather sets in. The reef which was being driven on by the contractors after keeping its course for a few feet suddenly took a turn to the left and came out after 74 feet of driving in the old level, where Carpenter's reef was supposed to have been lost. In this drivage colours of gold were seen for about 50 feet, and the general appearance of the quartz is promising. I intend starting a leading stupe on the reef liere. Tito discovery that the supposed Bendigo reef is the Carpenter's reef is of vast importance, for if its true identity had previously been established, beyond a doubt the crosscut would have been continued until the Bendigo reef was intersected, this reef being the object of the crosscut. As the case stands now this important reef-, which yielded so well in upper levels, lias never been found in our low level, and for us is reserved the finding of it. With this object our surveyor has laid off the position of the crosscut for the driving, for which I intend at once calling tenders. So far as it is possible to judge of the maximum distance to intersect the Bendigo reef should bo 65 feet. The portion of this reef where our crosscut will meet it was in the upper level payable, ami I know of no reason why the- lower level should not find it equally good. In fact I am credibly informed that a winze was sank tor about 15 feot from the upper level, and the ore won from it averaged nearly on ounce to the load, a return which under present arrangements will bo payable. Owing to the expense of working from a winze, this return was not satisfactory to the tributers who obtained it, and there being no other method of working the ground they abandoned thentribute ; this block has never since been touched. A new level has been started on the same level as the low level, on a reef which from survey and appearance looks like Carpenters'. This level is now in about 50 feet, and the reef has been earned along with it all the distance, averaging 2 feet wide ; the country rock is kindly and the reef when pounded up gives dish prospects, also a few colours of gold have lately been seen in the stone. From the present face to the crosscut is a total distance of 380 feet, for which distance tlie reef is intact to the surface, and any moment may land us on a run of gold. lam very hopeful of our prospects in this direction- At the mouth of this level ample room for tip heaps is available. I have constructed about ItiO feet of ground tramway from here to No. 8 station, and have nearly*finished a shoot and paddock connecting wifch it. The paddock will hold about 40 loads when finished. It is my intention to make this level the main adit of the mine, as the level wo are now using is getting in bad repair and will always give trouble. There are about 30 loads of quartz to grass, bub I do not intend crushing for some little time— the quality of this stone can only he ascertained by battery treatment. Future operations will consist in driving on the reef in the now level, carrying a leadinustope above the contract drive, and cross" cutting by contract to intersect the Bendigo big reef.

DEEP LEVEL CROSS. " Miner " writes:—Your report of this company's meeting in your mining summary published in Monday's issue is unfortunately incorrect, and calculated to pre vent shareholders and the public applying for shares in the now company (although in the Herald on tho day subsequent to the meeting, a correct report was given). The report is as follows: "Such company to have a capital of £50,000 in 100,000 shares of 10k each, of which 2s per share is paid up, 75,000 of which shares will be allotted to the Deep Level Cross shareholders who have paid their calls, on their making a further payment of 2* per .share ; the balance to bo offered to the public at 4* per share." Instead of further payment of 2s pec chare, read 2d ; and to the public at 4s per share, read 2s.

Twopence per shares from the original shareholder docs nob seem much, .but it must bo remembered that these shares originally averaged about 8a each, and some of the shareholders have lately paid the liquidator calls, amounting to 2a 7d petshare, so that the public will begotting-cheap shares by taking the 25,000 up at 2s each. The company will commence operations with about £1700 to its credit, and as it will bo formed under the "No liability" section of the Mining Act, shareholders have nothing to fear from any furfthor liabilities, as none can be incurred unless the cash is in the Bank to meet them.

Some croakers say the Cross never lias paid, and never can pay, and the same was said of the Cambria after the ground had been lying for years unworked, yet it paid £70,357 10s in dividends. Then we have the New Prince Imperial, which, as the I'rince Imperial had been worked unprofibably for years, and afc last wound up and the property sold for £250. Next comes our present leading mine, the Saxon, which, had previously been worked unsuccessfully as the Crown Prince, Crown Princess, London, and Mariner ; and, lastly, we have the Una Company, on the Karaka If ill, which paid a few dividends, but the great cost of putting in the low level sent the company into liquidation, and the ground lay idle for years. Twelve months since Messrs. Styak and Bruce took up a portion of the ground, went to work in the low level tunnel, and found a reef running parallel to and within throe feet of it, from which they have taken thousands of pounds worth of gold. There is no reason why the Cross should not also come to tho front aa a gold-

producer; it has the continuation of the Saxon, Imperial, and also the celebrated Caledonian lodes. This latter has been known for only six months, and if known before those who knew it kept their knowledge to themselves : but now it is proved that the Caledonian reef was cut in the Golden Gate shaft in 1889, 60 —not loads — been crushed in that year at the Kuranui battery, for a yield of lldwt per ton, over an ounce per load now. That would pay haudsomety, as the reef where cub through was over 14 feet thick, and the probability is that a run of gold would be got in it, not perhaps as rich as the celebrated Caledonian, but if ib even paid as well as the Imperial, which declared £60,125 in dividends, the shareholders would have every reason to be satisfied with their mine. And they have every reason to expect ib, as ail the reefs worked on the Grahamsbown fiat. have turned out well, viz., the Queen of Beauty, which paid large dividends in its day, and will pay again when it is worked ; the Saxon, which is paying dividends ; and the Imperial, mentioned above. And why should the Cross not also pay dividends when they have the continuation of the richest gold reef ever discovered ? Where the Cross directors erred was-in putting in the crosscut from the Big Pump at the 640 feet level towards the Prince Imperial, and which turned out to be not only expensive but unprofitable, as the Imperial rim of gold did not go down to that level. There is no doubt but this level will come in handy for the future working of the mine, when the surface blocks are exhausted.

I have omitted to mention that the Tookey Hill section of the mine ie, in the opinion of experts, even bettor than Messrs. Hansen and Comer's mine, when they are crushing the hill wholesale and with payable results.

Tho Cross would have paid dividends when crushing from the Imperial lode if tho shareholders had not unfortunately amalgamated with the Deep Level Tribute Company, and taken over the Dig Pump, and by maintaining which they lost thousands, with the result that the company is now in liquidation.