THE GOLDFIELDS.

New Zealand Herald, Volume XXXIII, Issue 10099, 7 April 1896, Page 6

THE GOLDFIELDS.

[BY lELEOUAPU.— CORRESPONDENTS.] Pa ho A, Monday. Silvehton-Battkry.— new battery 1 opened so suspiciously on Saturday is to commence crushing this morning. Hkitshnn's Freehold.—Owing to the wator difficulty a suspension of operations has been found noccssary, pending the decision of the directors as to whether a pump shall bo put clown. Waihi Queen.—ln this mine also a considerable amount of water has made in tho shaft which is down a depth ot about 150 feek, and th« buckets being used to cops with the difficulty aro kept going at such a rata as to lift about 1000 gallons per hour- If tho water continues to gain it is tho intention, so tho manager informed me, to put down a permanent lift for pumping, which will havo to bo undertaken almost at once if tho shaft is to bo carried down tho depth intended before opening oat, namoly 280 feet. Pumice formation is still being ponebratod, but) tho manager thinks a change is closo at hand. Komata Reefs.—A new development has just taken place In this mine, namely, tho intersection of Arj;all'» lode at a point about 200 foet north from the main crosscut. Its actual width in this portion of the mine it yet unknown, but that it is of large dimeniions is undoubted, inasmuch as it has been penetrated for a width of 10 feet without any sign of tho footwall. It will, therefore, be soon that the possibilities of this lode are immense, and the company's property should bo considerably enhanced thereby, especially as the quality of the ore is good, the dish prospects boing of an exceedingly encouraging nature. Samplos are now being takou away for assay purposes. THE AUCKLAND MINES. INVESTMENT OP SOUTH AFRICAN CAPITAL Wklli.n'otos', Monday. To-day I was introduced to Mr. Leo ' Myers, who, I understand, comes on a mission to Now Zealand to invest capital in the Auckland and other goldmines. Mr. Leo Myers was formorly woll known in Auckland. He has just arrivod by the lonic as roprassnfcative of a powerful South African syndicate, who propose to acquire gold properties in New Zoalsml. If his mission bo successful, I understand from the very best authority that ib will result in tho introduction into New Zealand of a largo amount of South African capital. Mr. Myers leaves for Auckland on Thursday or Friday next. WAITEKAURI G.M. CO. MONTHLY RETURN. £4 18s. 4d. AVERAGE PER TON. For the four weeks ending March 28, 13G tons of ore were crushed and treated at the Waitekauri Gold Mining; Company's mine for a yield of 6740z of bullion, worth i'fjtiS llis (i'l, or an average of a trifle over £4 ISs •Id per ton. This was from the Golden Cross section, and the small 10-stamp battery only.

Our Huntly correspondent writes —An assay has been made of sample parcels of the ore taken out of the reef in the gold mine at Wairangi. The reports of the assayers, Messrs. O. Fraser and Sons, Mr. J. Park, F.G.S., of tha Thames School of Mines, Professor Black, and Mr. Sheriff Galbraith, which have been shown me, are encouraging and satisfactory, the value of the quartz, based upon results of treatment of the parcels experimented with, being proved to be highly payable. Capital is now required to vigorously prosecute development of the leef, which is a large one, and I understand from one of the present owners of the ground that steps will now be taken to form a company, and, if successful, to at once enter upon systematic minim: operations. Careful prospecting in the Wairangi district should undoubtedly result iu further finds of gold reefs, as tho country is auriferous, and is well wooded and watered.

SOUTHERN MINING. [BY TELEGRAPH.—PRESS ASSOCIATION'.] Rkkfton', Monday, Big Riror— amalgam from 97 tons, cloan up. AUSTRALIAN FINANCIAL AND MINING NEWS. Press Association.—Electric Telegraph. — Copyright. Sydney, April G. The increasing favour in which all good investments are held has proved a bar to much business, strong holding being the chief feature. Government securities are in h onil request on behalt of trustees, who, since the banking collapse, find it difficult to obtain suitable investments. Bank shares are somewhat neglected, but suqi sales as are negotiated are fully up to late advances. Coal shares are firm, in spite of the threatened trouble. In Melbourne a firm tone was maintained throughout tho week, with revived interest in Government securities, bank shares, and deposit receipts showing no decline. There is a general tendency towards higher figures in mining. The <?ood rains, which have fallen in the goldfielcls districts, caused something like a boom. In West Australian stocks big business was dons on all the intercolonial exchanges, advances ruling all along the line, higher-priced stocks specially benefiting. The tension eased a little towards the close.

In Melbourne there was a fair turnover in Victorian gold shares, but these suffered somewhat, both as regards the amount of business and in the price, owing to the prominence given to West Australian stock. Whatever gold shares gained way had increased business. Barrier silver stocks lost volume all round, being much less than last week. Prices fluctuated, but on the whole showed improvement, closing firm. Opening sales of Broken Hill.Proprietaries were made at 445, and closing at 45s Od. A rumour that some disappointment had been experienced in connection with the new sulphide plant at Block 10 caused them to slump. A subsequent report showed there was no ground for the rumour, and that the works were practically ready for commencing operatious, and shares regained their position, Taßmauian stocks are firmer. Copper is weak. Adelaide, April 0. Since October 34 mineral leases have been issued, covering prospecting rights over some 50,000 square miles of Northern Territory. Perth, April 6. The recent rains on the goldfields have assured twelve months' supply of water. Scriven and party discovered extensive reefs north of Coolgardie. The atone shows good gold throughout.