THE GOLDFIELDS.

New Zealand Herald, Volume XXVIII, Issue 8539, 13 April 1891, Page 6

THE GOLDFIELDS.

[BY TELEGRAPH. —OWN CORRESPONDENT.] ly, Thames, Saturday. Sharemarket.— Caledonian, sellers, Is 6d ; Consols, sellers, Is Od ; Lone Hand, sellers, Is Od ; May Queen, 7s, sellers 7s ; Magnolia, buyers, 4s 6d ; Moanataiari, sellers 8s lOd, buyers, Ss Gd ; Trenton, sellers, 2s 2d. May Queen. — The finding of colours of gold in the No. 4 reef east at the new No. 2 level is of considerable importance at the present juncture, inasmuch as it proves that a gold-bearing class of country is being penetrated, and that tho reef appears to improve in quality from what it was directly overhead at No. 1 level, where no gold was seen on the western side of the break. Since the reporting of strong colours of gold on Thursday last, a further portion of the reef has been broken down, and colours of gold were again seen freely, besides which gold was also seen in a small leader which came in and functioned with the reef on its hangingwall side. The size of, the reef varies from nine to twelve inches, and all the quartz broken is now being saved for crushing purposes. Up to the finding of the gold the drive was being pushed ahead by contractors, but the manager has since cancelled the contract and put the men on wages, in order that the quartz may be properly attended to. A good start has been made with the sinking of the winze upon the No. 4 footwall leader at No. 1 level, but so far none of the quartz has been broken. The contractors for driving into the hangingwall country of No. 4 reef are still passing through blue rock. Hazelbank.For some time past the crosscut at No. I level has been penetrating very tight country, but during the last day or two a most favourable change has taken place, and an excellent class of sandstone is now showing in the face. Consequently good progress is being made with the extension of the crosscut, and if it continues as at present, what is known as Kelly's reef should be intersected during the latter end of next week, when it is hoped that at least payable gold will be found, if not better than that. The drive upon the cross reef at the same level has been at a standstill for some days past, a3 the manager was desirous of carrying a leading stope along upon the reef above where the gold was obtained in the drive. This has now been accomplished for a length of about 40 feet, during which time the reef has varied from 2 to 2£ feet in thickness, and shown colours of gold so freely that there is but little doubt that the quartz will crush for a payable return. The character of the gold, however, is of a much finer nature than it was in the drive, which leads to the belief that the best gold will be found by sinking. It is probable that operations will be resumed in the face of the drive very shortly, as it is believed that a body of quartz known as Turtle's reef is but a short distance ahead, and should it come into contact with the cross reef there is a probability of something good being met with. A start has been made to sink a winze upon the cross reef at No. 1 level at the point where good gold was recently got in the drive, and to-day, whilst breaking a portion of the reef, 101b picked stone were secured.

Saxon.—No. 1 reef eastward at No. 6 level is at present divided into two portions, the footwall portion being two feet thick and the hangingwall portion one foot, the two being divided by a band of sandstone of considerable width. But both branches show gold, and to-day a few pounds of picked stone were obtained. No. 2 reef, at the same level, is somewhat split up at present, and occupies a width of eight feet. Magnolia.—Since driving was commenced upon the No. 2 leader at the low level, a distance of 15 feet- has been driven, at which point what is known as the cross leader has been intersected, and in breaking it down 101b of very good picked stone was obtained. No. 2 leader itself is rather split up at present, but it still continues to show gold freely, strong blotches being seen today. Communication with the winze from the upper level is expected to be accomplished next week. Cambria.—This company's crushing of 94 loads general dirt and 201b picked stone, was completed this morning, for the payable return of 1340z lOdwt melted gold. Operations in the rise upon the main reef above No. 2 level have been suspended, and a start made instead to open up an intermediate drive upon the hangingwall portion of the reef, about eighteen feet above No. 2 level, at the eastward end of rise. It will be remembered that picked stone was obtained at this point when rising was first commenced. Alburnia.—The trial parcel of 1 ton quartz from Dixon's reef at the battery level, which was forwarded to Karangahake for treatment by Cassel's process a week or two ago lias been completed. The bullion extracted was 2oz 14dwt- 23gr gold, 12oz 19dwt 3gr silver, which was equal to 91 per ceno. of gold on assay value, and 55 per cent, of silver, of the value of £13 18s per ton. As a comparison against this, it may be mentioned that a crushing completed by the ordinary battery treatment yesterday resulted in a return equal only to £2 7s per ton, as against £13 ISs by Cassel's process, which leaves a very large margin in favour of the latter treatment. Magnolia.Shareholders are requested to attend the adjourned extraordinary general meeting to be held at the company's otlice, this morning at eleven o'clock, when the resolution for increasing the capital of the company will be finally dealt with. ' Saxon.The mine manager reports :No. 6 level: In the eastern drive on the No. 1 main reef to-day a few pounds of fair picked stone was obtained, and the reef is looking much better, and in the third stope, starting oil' winze, lOlbs of good stone. Amalgam on hand for last week lG~>ozs. REEFTON GOLD RETURNS. [by telegraph.—press ASSOCIATION.] Rkf.fton, Saturday. The gold returns for the week were :— Fiery, 3530z of amalgam from 106 tons; Cumberland, 2770z amalgam from 160 tons ; Progress, 21 Goz amalgam for the week; No. 2 Dark, 171oz amalgam from 90 tons ; Globe, SOoz amalgam from ISO tons ; Dark, G6oz amalgam from 90 tons ; Wealth, 660z amalgam from 85 tons.