THE GOLDFIELDS.

New Zealand Herald, Volume XXXII, Issue 9775, 23 March 1895, Page 5

THE GOLDFIELDS.

[#T TELEGRAPH.—OWN CORRESPONDENTS

Thames, Friday. Sharhmarkkt.— Razelbank, sellers Is 3d, buyers la; May Queen, sales 4s 9d, sellers 68, buyers 4s 6d ; Moanataiari, sellers 4s 9d, buyers 4s 5d ; Alburnia, sellers 3s 6d ; Victoria, sellers 6d ; Silverton, sellers 15s ; United, sellers 9d ; Monowai, buyers 5s ; VVhau, sellers 9d ; Royal, sellers lid; Sheridan, sellers Is. Moanataiari.—A rumour was prevalent ,®' o t his morning that the crosscut at the 150-feet level of this company's mine had broken through to old workings. The manager Mr. Clark, however informs me that such is not the case, but that the crosscut is still penetrating a good solid class of sandstone country. Akburnia.—Christie's dropper has not yot been intersected in the new crosscut at -No. 1 level, although the distance laid down by the surveyor has now been driven. Ihe manager, Mr. Dunlop, however, is of opinion that he is close upon the leader, as this morning he visited the old workings upon the leader at the battery level, and there he found that the leader was distant 60 feet from Dixon's reef, and that on the footwall side of the leader there was five or six feet of very hard country. This bit of hard country he now thinks he has entered upon in the crosscut at No. 1 level, it being met with by last night's shift, so that it is probable tiie leader will be to hand during the next few shifts. The workings upon Dixon's reef are devoid of change. Pakroa, Friday. A meeting of the Little Wonder claim, shareholders, Waitekauri, was held to-day, Mr. E. M. Corbett presiding. It was agreed to form i company under the no liability clause of 60,000 shares. Mr. D. G. MacDonnell to be legal manager. Tho claim, which has since been re-christened the Waitekauri No. 4, is next to the Jubilee, and carries a reef worth two ounces to the ton.

RED GAUNTLET G.M. CO. A meeting of subscribers in the Red Gauntlet Goldmining Company (Karangahake) was held yesterday in the Chamber of Commerce, Mr. Lennox presiding. The chairman in opening the proceedings said the undertaking adjoined the Woodstook. The promoters were to have received £75 for preliminary expenses, but they had signified their wish to take that in shares. Ic was suggested that there should be 60,000 shares— 25,000 to go to the pro motors. Twenty-live thousand were sold to the contributors at £15 each (every farthing of which went to work the mine), and 10,000 shares would be reserved. It was unanimously agreed that the company be registered under the Mining; (Company's Act, 1894, under the name of the Red Gauntlet (no liability) with a nominal capital of £6000 in 60,000 shares of 2s each. Rules! were then adopted; Messrs. T. T. MaseHeld, J. K. Grey, A. Wright, J. Mennie, J. Seaver, and Col. Burton were elected directors; Mr. D. G. MaoDonnell was appointed legal manager; Messrs. VVynyard and Purchas, solicitors; Mr. Eller, auditor ; and the Bank of New Zealand the bankers of the company.

A meeting of the Lone Hand Gold Mining Company, which was to have been held yesterday afternoon, lapsed for want of a quorum.

MINE MANAGERS' REPORTS. Wealth or Nations (Karaugahake, March 16).—1 have been continuing the crosscut this week on No. 2 and No. 3 reefs. The crosscut on No. 2 when in 8 feet cut into a nice leader about 6 inches wide, carrying a very fair prospect of about an ounce to the ton. About 52 feet more driving should suffice to cut this reef. The country is good driving country. On the crosscut for the No. 3 reef we have driven 14 feet. Country favourable and reef should be cut in about four weeks.

Orlando (March 20). — have started a leading stope over the bottom level in this stope. _ The hangingwall portion of the reef is carrying a good class of mineral, copper and iron pyrites and dabs of gold were seen for 200 feet along the drive. The crushing Mr. Radford tried from this reef I believe averaged something, like loz to the load, but as I intend only taking the hangingwall portion of the reef, which carries nearly all the minerals. lanticipitea much better yield. Woodstock United (Karangahake, March *21). —As you have already been advised by wire, the contractors struck the No. 2 lode, at the No. 2 level, on Friday last, aud gold and silver is freely visible in some of the ore broken out. Here, since then, the lode has been broken into for a width of fully 4 feet without auy sign of the hangingwall, but there is some rich ore on the footwall side, and of this the assays show the average value to be £6 per ton. The No. 2 lode, in the present face of the No. 3 level, is smaller tnan usual, while the ore is somewhat lower grade than heretofore, but a change for the better may come in at any moment. There is no alteration in the stopes, from which ore of good quality is being grassed daily, aud the No. 2 lode maintains its size and quality throughout the whole of these workings. The contractors for extending the crosscut to intersect the No. 3 lode arc making fair headway, and the desired gaol should be reached in another 60 feet ot driving. In th« Truro section, the contractors are pushing the level ahead on the line of the lode, which has widened out to about 5 feet, but, as yet, the ore is not rich enough to save for treatment. Talisman (Karaugahake, March 18). During the fortnight ending March 16, the contractors for the new low level have driven 80 feet. Thecountry being passed through is of a very kind nature, and if this class of country continues the reef ought to be cut in six weeks' time. The contractors for the northern winze are now down 14 feet. The reef is split tip at present, and I have found it necessary to keep on Mr. Trezise, to see that the quartz Is kept clean. The contractors for the battery are making fair progress with their work.