THE GOLDFIELDS.

New Zealand Herald, Volume XXVIII, Issue 8555, 1 May 1891, Page 6

THE GOLDFIELDS.

[by telegraph. —OWN CORRESPONDENT.] Thames, Thursday. Sharemarket, — Cambria, sellers 33; Caledonian, sellers la 6d ; Consols, sellers Is ; Hazelbank (2s paid up), sellers 3s 9d ; Moanataiari, sellers, 8s 3d ; Orlando, sellers Is 2d ; Saxon, buyers, 4s.

Trenton.—Crushing began this morning at the Cambria battery. There are about 40 loads to put through.

Lone Hand.—Crushing is proceeding at Bull's battery. There are about 50 loads to treat. It is expected to be finished by Saturday. May Queen.—There are no indications as yet of the main break being near to hand at No. 2 level. The country still remains the best description of sandstone. Dives.A crushing of 20 loads general dirt and 131b picked stone, all of which was broken from the hangingwall leader above No. 2 level was completed to-day for 420z lOdwts gold. Orlando.—The manager to-day banked lOOoz 4dwts motived gold as the result of the crashiug of "52 loads general dirt and 20 pounds picked ttone. Another ounce or two will be added to this as the silver has to be retorted. The return is the result of five weeks work for twelve men, and is considered to be very satisfactory. . Warden's Codrt.—At the sitting of this Court to-day, Mr. Greenfield presiding, most of the applications, which were principally for occupation licenses were adjourned till the 14th May. Amongst the mining applications the following were granted :—A. Shepherd, Bonanza, Karangahake ; T. H. Russell, water-race and special site of five acres, Waitukauri. Several others were adjourned. Moanataiari.—The winze upon the footwall reef, at the 100-feet level, is down 14 feet, and the reef is about 18 inches thick. A small portion was broken down yesterday, when strong colours of gold were seen throughout the quartz, but no picked stone was obtained. The same in the east drive seems to improve as the drive is pushed ahead, colours of gold being seen frequently, and excellent crushing dirt is coming to hand from the slopes upon the flat lode above the south drive, in the vicinity of the Golden Age reef. At the intermediate, below the 100-fcet level, the body of quartz which h;is lately been followed, and which was thought to be the footwall lode, turns out to be the Reuben Parr reef, and the drive is now nearly up to the break. At this level another largo body of quartz has been intersected, and the manager believes it is the Golden Age reef. The usual monthly retorting will probably take place next Tuesday.

RED MERCURY G.M. CO. The annual meeting of the Red Mercury Gold Mining Company was held at the office of Mr. H. ; Gilfiilan yesterday afternoon. Mr. H. Rees George occupied the chair. The secretary read the report of the directors, which stated that the mine was well opened up, and by means of a wire tramway a large supply of good ore will be available for crushing, if efficient appliances for treating the same can be relied on. This most important point is now receiving careful consideration, the directors being of opinion that the present available battery on the field is not capable of affording the efficient treatment which the ore should receive. With regard to the statement of accounts, the directors desired to point out that though there was a debit balance of £79(> 17s (id, it must be remembered that no value had been placed upon the mine beyond its first cost to the company. The balance-sheet showed the total receipts from the mine to be £335 5s 2d, and the expenditure to be £1132 2s Sd, leaving a debit balance of £796 17s Gd. In moving the adoption of the report and balance-sheet, the Chairman said that he considered the company to be in a very satisfactory condition. The results obtained from various crushing? led them to hope for great things from the mine.. They had tried crushings at various places, and the directors came to the conclusion that although they were not getting a satisfactory result at the Kuaotunu battery, yet any advantages that might be obtained at other. places were reduced to nothing by reason of the extra expense. He was quite aware of the great public dissatisfaction- which had been expressed with regard to the Kuaotunu battery. After some slight discussion the report and balance-sheet was adopted. The mine manager reported that, since taking; charge of the mine in May last, a number of reefs had been unearthed, the best being the Red Mercury and Try Fluke reefs ; but there was little doubt that some of the other reefs will prove payable. Fifty tons of quartz had been treated at the Kuaotunu battery, from which b'-ioz of retorted gold was obtained. This return was not so good as expected, but, under the circumstances, it was very fair, considering that all the machinery was new and tho amalgamating pans were not doing what was expected of them. They do not seem to be able to save the fine gold as they are at present worked ; in fact, it is on open question if any pan yet known will save our Kuaotunu gold. The manager was afraid that a payable percentage will not be saved until Cassel's process is brought into use. The Try Fluke reef traverses the ground for about 800 feet, which can be opened without the expense of crosscuts. About 1100 feet of wire tramway had been formed at a cost of £250. The total cost of delivery at the battery does not exceed 4s per ton. Some 75 tons of quartz have been crushed for a return of 131oz of melted gold. Tho retiring directors (Messrs. Porter and Caron) were re-elected, and Mr. Churton was appointed auditor. Votes of thanks to the chairman, the directors, and the secretary brought the proceedings to a termination.

Mr. J. Barron returned from Whangapoua last evening, and brought with him a sample of '2cwfc of ore from a new reef discovered in that vicinity, with the object of having ib tested at Fraser and Sons' reduction, works. The reef, we are informed, is new, about three feet thick, and unprospected; but its appearance promises permanence, and ib has given good prospects when pounded in the mortar and washed. Great hopes are therefore entertained that the find is an important one, and that ib will give an impetus to the district.

May Queen.—The break at the new level which, by survey, should have been reached before this, must be more vertical than anticipated. There will therefore be a greater distance to drive and longer to wait before the break is reached.

Instructions have been sent to the company's surveyor to give the relative levels to the May Queen levels to enable the depth to be ascertained at which the Trenton should drive east towards the May Queen slide. City of Dunedin.—The mine manager telegraphed yesterday :—Reef three feet wide in drive ; saving all for crushing. Alfred. — The intermediate level on reef has been extended a further distance of 13 feet, the total being from winze 118 feet. The country has much improved, and the reef is in compact form one foot thick, and gold is seen at each breaking down. Tho leading stope is along 87 feet,

the reef showing nine inches thick. Colours and dabs of gold are seen through the stone when broken down. The second stone is along 63 feet, the reef here is 12 inches thick. The third stope is along.2B feet, the reef being 15 inches' thick. Colours of gold are seen through the quartz when broken down. I have arranged to start crushing on Thursday morning, and expect to have about 30 loads to put through.