THE GOLDFIELDS.

New Zealand Herald, Volume XXIX, Issue 8799, 12 February 1892, Page 6

THE GOLDFIELDS.

j [from our own correspondents.] Thames, Thursday. Saxon.The cam shaft of the light 10head of stampers in tho company's battery broke down last night, and ib will take until the end of the week before a new shaft can be placed in position. In the meantime tho other 22 head of stampers are at work as usual Mpanataiari. — The supply of quartz coming to hand from tho various workings at present in progress in this mine continues of moderate grade, bub sufficient gold is seen to warrant a continuation of tho works, with the hope of eventually dropping across something better. This is pecially noticeable in the caso of the Golden Ago roof at each point whero it is being operated upon, for at times gold is seen freely, and a pound or two of picked stone obtained when least expected, so that it makes it difficult to make any selection in saving tho quartz for the battery. An incident in point occurred only a day or two ago in the eastern stopo above the 100 feet level. The reef was large, and composed of a somewhat rough description of quartz, so far as appearance went, and there was some doubt as to whether it was worth saving for treatment, yet, on looking it over, some strong blotches of gold were seen; and, upon breaking the quartz up into smaller pieces, a few pounds of very nice picked stone wero secured. It will, therefore, be seon that the wisest course is to treat the whole of the quartz so as not to miss anything, which is being done. The western stopes have been delayed during the last two or three days as tho men have been engaged in getting mullock to fill in the stopes, and driving off upon a footwall branch which appears to make away into the footwall country. Consequently the supply of quartz has nobbeen very large from this point, this week, and tho number of stampers employed at tho battery have boen reduced down to 20. The now crosscut at the 100 feet level, to connect with the eastern drive upon the (Jolden Age reef, is still passing through somewhat tight country. What is believed to bo the vertical leader has just been passed through, but no gold was seen in the quartz broken. Below the 100 feet level there is no change in thestopes in progress, but above tho last stope is now in progress upon the Reuben Parr reef, under the floor of the Point Russell level, and there remains only about two more slopes to beat out in the blocks upon tho cross reef and main footwall reef. Nothing, however, appears to have been done upon these bodies above the Point Russell level, so that preparations are now in progress for continuing the stopes overhead, tho Reuben Parr reef being the first to be tackled. In the eastern drive at this level, the Golden Age reef is still being followed, but this morning the quartz appeared to bo pinching out, as if if, the reef, was going to make what is termed a "splice" or overlap. The cross reef should shortly be met with in this drive, and it is just possible that it is the close proximity of that body that is causing lie break in the reef. Stoping upon the Dawn of Hope reef is proceeding as usual, but no picked stone has lately been obtained, although colours of gold are frequently seen. [BY TELEGRAPH. —OWN CORRESPONDENTS.] I'akroa, Thursday. The County Council is endeavouring to get a grant of £100 for the road from \Vaitekauri battery to the New Find atKomata. Colonel Fraser is assisting. The Marototo mine has been purchased from the Sydney company. HAZELBANK GOLD MINING COMPANY. A special meeting of the shareholders of the Hazelbank Gold Mining Company was held at the company's office, Government Insurance Buildings, to consider the desirability of amalgamating with the Caledonian Company, and the terms upon which, if desirable, the amalgamation should take place. Mr. J. M. Lennox presided. The Secretary read a letter received by the chairman of directors froi.l the secretary of the Caledonian Company. It was as follows :— I have the honour, by direction, to i lform you that the directors of the Caledonian Gold Mining Company would be prepared to recommend an amalgamation of the two companies, and would suggest the following as a basis for such amalgamation, viz., that a company be formed of, say, 60.000 shares | '20.0- to be allotted to the Caledonian shareholders and 40.00*) to the Hazel bank Company. The Hazelbank Company to pay to the Caledonian Company the sum of £500, each company to liquidate their existing liabilities. The above letter had been placed in the hands of i.he manager, and he had reported that he considered the offer a fair and reasonable one. He strongly recommended that should be accepted. As things at | present stood, if any misunderstanding i should arise between the companies, the Caledonian directors might make things very inconvenient in connection with the use of the shaft. Mr. Lennox said that tho directors had given the matter very careful consideration. They hud always been liberally and cour teously treated by the Caledonian Company, still they could not allow that to influence them, for tne only thing to consider was whether the proposed amalgamation would be for the benefit of the Hazelbank Company. If they obtained possession of the Caledonian mine, he believed that it would be of great benefit to the company, and ho was strongly in favour of the proposal. They would never have such a good chance again. The question was, however, one fur the shareholders to decide, Perhaps the terms offered were ( somewhat high, but the Caledonian Company was prepared to consider any reasonable offer. He would move, to test the feeling of the meeting, " That the direct ors of the Huzelbank Company be instructed to offer to the Caledonian Company 16,000 shares, without any money, for the purchase of everything complete as it stands, free of debt." The capital of the Hazelbank Company would be increased to the required extent. Of course the Caledonian shareholders would have to pay off their own liabilities. Mr. J. J. Craig; seconded. Mr. Fkatkk moved as an amendment, " That 5000 shares in tho Hazelbank Company be offered for the winding gear, poppet heads, and portion of the Caledonian mine." He could not see that the Hazelbank could benefit by anything but the acquisition to the shaft. If they amalgamated, the drainage contributions of the Hazelbank would be doubled. The Caledonian Company could have the use of the shaft on the same terms as those on which the Hazelbank at present used it. The Hazelbank was producing gold at present, whereas the Caledonian was not. Mr. H. Camphf.m. seconded the amend- [ ment, stating that Mr. Frater's proposition seemed a reasonable one. The Caledonian Company appeared Id be almost worked out, and it would be suicidal for the Hazel bank to amalgamate with the Caledonian. The amendment was carried, and the meeting terminated. SECRET GOLD MINING CO. A special meeting of the shareholders of the Secret Gold Mining Co. was held at the Chamber of Commerce rooms yesterday afternoon, for the purpose of taking into consideration the position of the company. Mr. Sanders occupied the chair. Dr. Walker drew attention to tho fact that only two directors were present. He did not think it right for the directors to absent themselves from such meetings as the present. He thought that the whole of the affairs of tho company should bo thoroughly investigated, to see what work had been done, and what the expenses had been. The Chairman pointed out that this had already been done, and that the balance sheet had been printed. Dr. Walker then proposed, "That the company be wound up voluntarily, under the Companies Act, 1882." Mr. Barber thought that the purpose of the meeting should have been mentioned in the advertisement. The resolution was carried. Mr. Finch stated that he did not think the shareholders had been fairly treated. Another gentleman said that he had not paid Ids calls, and unless the directors paid theirs he would be sued before he paid his. Ib was further resolved, "That Mr. Young be appointed liquidator, at a fee of £5." ORLANDO GOLD MINING COMPANY. The directors of the Orlando held a meeting yesterday, to consider the working of the mine, and they decided to at once resume operations. Mr. C. White was ap-

pointed to the charge of the mine, with instructions to proceed at once with the sinking of a winze on the lode. RED MERCURY (KUAOTUNU) GOLD MINING COMPANY. At a meeting of the directors of this company, hold yesterday, an offer was received of a first-class crushing plant of 20 head of stampers at a cheap rate, but before accepting the offer ib was decided to ask for further particulars. The directors, however, have determined that a crushing plant of their own is necessary for tho company, and it will be procured and erected without delay. VICTORIA GOLD MINING COMPANY. The directors of the Victoria Gold Mining Company took an important step yesterday, when they issued instructions to remove the winding machinery of the mine from the Prince Imperial shaft bo the Tookey shaft. The step was taken after full consideration, as it was considered that the lodes of tho mine can bo more effectively worked from the Tookey shaft. MINE MANAGERS' REPORTS. Victoria.—The drive along the course of the No. 3 reef at No. 6 level has been extended a farther distance of eight feet. The reef continues frilly two feet in thickness. The country is all that is desired, although no gold was seen at last breaking down. Tookey's section : The drive on the hangingwall leader has been continued during the week. The leader is somewhat small as yet, owing to its being close in the vicinity of the main reef, but should improve as the drive is extended. Woodstock UNiTED(Karangahake).— little ore has been broken during the week, because for the most of the time all hands have been engaged in getting things ready for the erection of the water blast and air pipes, which I hope to have in position early next week, and then the whole of the workings can he thoroughly ventilated. Amongst the material for the framework were four spars 40 feet in length, ami tho work of landing these oil the site was attended by considerable difficulty. When excavating—lo feet below the tramway level —the foundations for the water blast tank, two well defined lodes were intersected, and, so far as I am aware, nothing was known about these lodes previously. They are two feet and one foot wide respectively, and fair prospects of gold have already been obtained from the smallest one. Hereunder please find results of assays made of ore samples taken from the stopes on the No. 3 lode, which look well at present:— Bullion Gold Silver Remarks. |>er ton. per ton. per ton. ilwtgr ozilwtgr oZ'lwtgr 1, Rpfr.ietory ore .. -4 10 (' 12 11 4 11 It! 2>> •J, Kefr.ietory ore .. 6 6 0 - 7 t! ;! 18 IS I'loti milling ore.. 1- 5 0 5 IS 8 (10 10 4, Free milling ore.. 4 0 0 2 9 0 111 0