THE GOLDFIELDS.

New Zealand Herald, Volume XXVIII, Issue 8533, 6 April 1891, Page 5

THE GOLDFIELDS.

[FROM OtTK OWN CORRESPONDENT.]

Thames, Saturday Magnolia.—After driving several feet past the last body of quartz mot with at the low level, and nob meeting with the winze being sunk from the upper level, the manager has brought his men back to the reef, and started them to drive upon it hillward, as he is of opinion that this is the same reef as the winze is coming down upon. This reef has opened out to a foot in thickness, and every breaking down has shown colours of gold freely distributed through the quartz. Hazklbaxk.--Since a start was made to carrry'a leading stope along upon the cross reef at No. 1 level, just above the point where the picked stone was recently obtained, operations in the face of the drive have been confined to one shift only, so that little headway has been made. In the stope, however, colours of gold have been seen freely in all the quartz broken, but no picked stone of any account saved. It is probable a winze will be started upon the reef shortly, as the indications for the gold continuing downwards are far better than they are for its making upwards. The prospecting drive is still being continued, but the country is very tight, and the progress made is rather slow. Saxon.—A nice-looking leader was met with yesterday on the footwall side of No. 1 reef, in the western drive at No. 6 level, and four or five pounds of very fair stone were obtained from it. The main reef at this point is also looking very promising, aud hopes are entertained that something good will be met with shortly. No. 2 reef at this level is now divided into three or four veins of quartz, and is yielding altogether about two feet of crushing dirt, colours of gold being seen pretty freely in the footwall vein. Another 25 or 30 feet of driving will take this drive up to No. 2 break, on the other side of which better results are expected, provided the reef maintains the same characteristics as were met with when opened up at No. 5 level. Caledonian.The drive upon No. 2 reef at(No. 2 level has been suspended for the present and a rise started instead at a point where the reef looks the best. This rise is now up a height of about ton feet, and the reef shows a thickness of eighteen inches, with excellent mineral indications abounding in the quartz, bub no gold has so far been seen. At No. 3 levol driving upon the same body is still in progress, but nothing payable has yet been met with. Another new prospecting work has just been started at this level, namely, a drive in the Red Queen section upon what is known as Ryan's leader. This leader is about six inches in thickness, and where worked by a party of tributers has yielded excellent results. Since work was commenced upon it a few days ago on behalf of the company nothing has been done except stripping a portion, but a breaking down will take place in a day or two.

(j»Y TELEGRAPH. —OWN CORRESPONDENT.] Thames, Saturday. Sharemarket.—Cambria, sellers 3s 3d ; Consols, Is 4d, buyers Is 4d ; Hazelbank (2s paid up), buyers Is 6d; Lone Hand, sellers 2s 3d ; May Queen, 6s ; Moanataiari, 9s ; Trenton, sellers 2s 4d ; Victoria, Is 4d; Waihi, sellers 28s.