THE GOLDFIELDS.

New Zealand Herald, Volume XXXIV, Issue 10410, 7 April 1897, Page 6

THE GOLDFIELDS.

AUCKLAND SHAREMARKET. Thire was a more hopeful tone on 'Change yesterday than has been the case for some months put, this being due in some measure to the receipt of cablegrams evidencing improvement in the Home market. May Queens were done at 8s 3d; Stanleys at Is and Is Id; Coromandel Freehold Proprietors at 6d; Four-in-Hands at Is 8d; and Welcome Finds at 2s. Stocks in Great Barrier Island properties were a little firmer. There are still buyers of Talism&ns at 15s 6d.

ASSOCIATED STOCK AND MINING BROKERS,

The following sales were recorded, yesterday, by the above Alburnia East, Ba, Sid; Stanley, Is; Waihi Extended, 9Jd, BJd; Waitekauri Prince, 4d; Pukewhau, 3d; Sceptre, 6d. NORTHERN STOCK EXCHANGE. The following sales were recorded yesterday by the aboveAlburnia East, 8d; Hauraki No. 2, Is 3d; Maoriland, 6d: Occidental, lid; New Alburnia, 4s 6d; Waitekauri Prince, 4d; WaihiExtended, 9d, BM. COROMANDEL FREEHOLD PROPRIETARY,

FIRM OFFER RECEIVED. The directors of the Curomandel Freehold Proprietary have received a repeat cablegram, from London, from Mr. Marshall, who has had the negotiations for the sale of the property in hand. This contained a firm offer not for option only but for the property on the following terms: — Present shareholders to receive £7500 in cash and 45,000 shares of £1 each fully paid up in a company of £175,000; the new company has to provide a cash working capital of £20,030, and reserve 20,000 shares for a like purpose. The offer has been definitely accepted. There are 150,000 shares in the present company, and this will work out at about Is per share and (approximately) 285 shares in the new company for every 1000 now held. IMPERIAL. The term of option for the Imperial Comway's property held by Messrs. Pearson and Pinder naving expired, and Mr. Pearson not having received any definite cablegram in the matter prior to leaving Auckland, the option has been handed back. The latest information from the mine is that the development work on No. 1 reef is proceeding very satisfactorily. and that the ore is improving very much.

ALBERT G.M. CO.

The same formation of ground worked by the above Company in the Broken Hills (Tairua) prior to the mistake in boundaries being fouud out, has been found in the Albert ((round proper. From an open surface cut samples have been taken assaying £310s and £2 17s 6d per ton respectively.

MONTE CARLO G.M. CO. A special general meeting of the Monte Carlo Gold Mining Company was held yesterday afternoon. Mr. G. H. Pnwley presided. By personal attendance and proxies over two-fifths of the subscribed shares were represented. It was resolved, on the motion of the chairman"(l) That the directors be authorised to sell the property on such terms as they may deem most advantageous; (2) that the directors be authorised to purchase on behalf of the company any adjoining claims or properties that they may deem advisable; (3) that the directors be empowered to execute all necessary documents to carry into effect the foregoing resolutions."

ELVIRA G.M.CO.

The first half-yearly meeting of the Elvira Gold Mining Company was held yesterday at the office oi Mr. W. Elliot. Mr. T. Peacock presided. The directors' and mine manager's reports were submitted. The former stated that two reefs had been discovered, but not, as far as had been discovered, of a payable nature. The directors, under the circumstances, considered that it would be the wisest course to wind up the company voluntarily. The statement of accounts showed a balance in hand of £208 16s 9d. The reports, etc., were adopted, but it being the wish of seme of the shareholders that an assay of some of the stone should be made the chairman promised that this should be attended to, a meeting of shareholders to be then called to finally consider the position,

COOLGARDIE PROSPECTING

SYNDICATE. A meeting of the Coolgardie Prospecting Syndicate was held.at the Imperial Hotel, yesterday afternoon. Mr. J. C. Firth presided. The Chairman said he could not congratulate the meeting on the state of the affairs of the syndicate. However, they had done their best, they had paid their money, and had lost it. The Chairman then gave a short sketch of the history of the syndicate. The syndicate, he said, had lost the mine and their £1110, and other parties had also lost money over the property. They had now come to the conclusion that there was nothing in the undertaking. In answer to questions the chairman said £1500 had been paid for the various options. The syndicate owed nothing, but there was a charge of £195 against the property. The chairman said the position was this: There was no money and no mine; there was nothing to receive and nothing to pay. The mine must have been forfeited by this time. This concluded the business.

GENERAL MINING ITEMS. The sales of forfeited shares in the Duke of Argyle, Aurora, and Golden Tokatea Gold Mining Companies hare been postponed. The meeting of the Mountain Flower and the Morniug Star Gold Mining Companies lapsed. The accounts showed a balance in hand in the former of £82 29 Bd, and in tho latter of £2810s 4d.

THAMES SHAREJIARKET. [BY TELEGRAPH.-OWN CORRESPONDENT,] Thames, Tuesday. Alburnia East, sellers 9d, buyers 6}d; Broken Hill, sellers 8d; Club, sellers 3d; Conservative, sellers 4d; Darwin (contributing), sellers sd; Grand Triple, sellers 3d; Kuranui-Caledonian, sellers 5s 3d; Karaka Queen, sellers sd: King Solomon, sellers2d; Kuranui, sellers Is 3d; Mata Reefs, sellers 4d; Mclsaacs, sellers 4d; Moanataiari, sellers lis, buyers 10s; New Whau, sellers 74d, buyers 6d; Nonpareil, sellers lid; Occidental, sellers 3d, buyers ljd; Tararu Creek, sellers 49; Temple Bar, sellers 4d; Victoria, buyers, 2s 6a; Royal, sellers Is 6d, buyers Is 4d; Kaiser (contributing), sellers 3d; Juno, sellers 7d : Komata Reefs, sellers 13s; Komata Queen, sellers 2s 6d; Welcome Find, sellers 2s 6d: Moa, sellers 4Jd.

NEWS FROM THE MINES. [it TELEGRAPH. correspondents.] Thames, Tuesday. HAURAKI GOLDEN AGE.

The contractor is making splendid headway with the filling in of the battery site. As soon as this is finished the company intend erecting their new 40 stamp mill. The site is adjacent to the company's old battery, and was originally the spot where the old Caledonian battery stood.

Driving on the course of the Muskets leader is being steadily carried on. Colours of gold can be seen through the quartz, and the country being entered upon is of a good description and wholly unexplored. The drive will afford fully sixty feet) of backs.

Very good progress is being made with the excavations preparatory to sinking this company's new shaft, and the manager is hopeful of being able to get all the requisite timber on the ground before the wet weather sets in. PURU CONSOLIDATED.

The rise from No. 2 to No. 1 level is being steadily advanced, and a good class of ore is being met with. When this connection is effected it is expected that the required ventilation will be secured, when driving upon the course of the Rimu reef will in all probability be proceeded with.

VICTORIA. Crushing on behalf of this company was resumed on Monday night at the May Queen Extended battery. A good class of crushing dirt continues to come to hand from the drive and stopes in operation eastward at the intermediate level. A small break passed through the reef in the western drive at this level, disturbing the lode, but it is again on band.

Paeroa, Tuesday.

The English owners of the Waibi-Glad-stone are now developing their property under the management of Mr. J. Langford. At present a small prospecting shaft has been sunk to a depth of about 120 feet, at which point a commencement has been made to drive east and west for the purpose of thoroughly prospecting the country within the company's area. An adit drive is also being carried through the hill eastward' of the 'Waihi-Silverton Company's tramline,t with a ; view ?to. intersecting a large reef, , the outcrop •• of S which ; bit.

been discovered on the hill. The future prospects of this company are considered by many competent) authorities to be of an encouraging nature, inasmuch as it is contended the prospecting works now in hand will pick up the Amaranth and Silverton reef system.

KOMATa triumph. This property consists of 152 acres, including the Triumph Extended, and is situated to the westward oi the Komata Reefs. At present the mine is under option to Messrs. Bewick, Moreing, and Co., and it is under that firm's auspices that the works now in hand are being conducted. Already a large' amount of work has been done, and several promisinglooking lodes discovered, whilst attention is now confined to the development of two lodes, one in the Triumph ground and one in the Extended, the latter being a short distance from the Komata Reefs works. With regard to the former, the ore body has been opened up north and south for about 190 feet, the reef being, apparently, of large size; at nil events, where cut through, it presented about 11 feet of quartz, but since driving was commenced on its course, its exact size has not been ascertained, the drive being simply carried along on tho footwall side. Going north, the lode looks much better than it does in the southern face, whore it now seems to be much disturbed and broken, and consequently not of much value. In the northern end, however, the quartz bears a promising looking appearance, and should a shoot of good ore be met with, % valuable and extensive block of ground should be opened up, especially as going north the backs gradually increase to a great height. In connection with operations, the extended lode in the face is about three feet wide, but so far the stone does not seem to bear much value.

KOMATA REEFS.

Operations upon this property are at present of a limited nature, and the main attention is being directed to the extension of the low level; also rising on the footwall of Argall's lode, and driving on Hartridge's leader. Ib is from the latter that the richest ore is being obtained, and the only change noticeable in the lode since my last visit is that it is a little larger, the present face carrying about 12 inches of stone instead of six inches as was the case last month. The quartz still maintains its rich quality, and a very nice tail of gold was secured from the sample of stone broken out during my visit. This leader has now been proved for a distance of about 63 feet, and there is no doubt that its consistency as a good bullionproducer has been well maintained, and should it continue its present character until it junctions with Lavington's lode, some distance ahead, highly remunerative results should follow. Good ore has also been broken out from the No. 2 rise, for a height of 64 feet. Another 30 feet should see this working connected with an intermediate crosscut in progress. A contract lias just been let to Sayers and party, for driving a further distance of 100 feet in the lower level, the contract price being £1 10s per foot. At the battery, the work of construction is proceeding satisfactorily. It is expected that the battery will be completed in four months' time. Coromakdkl, Tuesday. PROGRESS ROOK. This mine continues to look w ell, and as a further result of stoping from No. 3 level on the main reef another parce 1 of picked stone was secured on Friday last, which was lodged in the Coromandel branch of the Bank of New Zealand on Saturday. Mr. C. B. Stone, one of the Auckland directors, paid a visit to the mine on Saturday, and expressed himself well satisfied with the way in which the development of tho mine is being proceeded with under the manager, Mr. Frank O'Dowd. The outlook of the property is most favourable. A splendid battery site has been secured. JERSEY. The main reef in this property coutinues most favourable, and several nice little specimens were taken out during the week. Colours of gold have been found ail along the reef so far by pounding. KILMRN'KY. A nice gold-bearing reef was struck last week. The lode runs into the White Star property. WHITE STAR, Good reports continue to come from this group of mines, several gold-bearing reefs having been met with. Some very nico specimen stono has been taken out from time ro time. A battery is urgently required in this locality. HINBSIOAHAPRAKI. Three tons of general ore from this mine have been treated by Messrs. G. Fraser and Sons at Auckland, the yield being very satisfactory. Messrs. Fraser report as follows:—The whole of tho ore which had been crushed to pass through a quarter sieve, as stated in assay report, has been subjected to treatment by hot pan amalgamation, the result of which is as follows; Return from 3 tons of ore, 3oz 9dwt oar bullion ; value of bullion, £2 Is 7Jd per oz ; total value of bullion (3oz 9dwt sgr), £7 4s; rated at per ton lnz 3dwt 2gr (at £2 Is 7d), £2 8s; equal to 86 '35 of assay value saved.

a.j.c. (Kennedy's bay).

The Now Find leader has opened out to 18 inches in width, and maintains its promising characteristics; the oro gives prospects and colours of gold are occasionally visible in the solid stone. The silica seams also continue to yield good prospects. MINE MANAGERS' REPORTS. New Monster (Te Aroha).— drive: We are just about the distance where we expect to cut the main lode. Orion (Puru).—Drive on No. 3 reef: The country is a little harder owing to the great number of leaders in the face. There are nine of these leaders from one to six inches thick, which, I expect, will junction further on. Atlas (Wharekeraupunga). —Am now putting down a prospecting shaft on southeastern portion of the ground to cut one of the Royal Standard reefs. Great Northers (Wuihi).— Friday last we touched sandstone in the floor of the level, which is, no doubt, thefootwall of the reef. It is a firm brown sandstone of a kindly nature. The reef formation is fully 45feet wide.

Koranbi (Thames),-Driving on the Oddfellows' reef both north and south from the crosscut. The country is still very tight. The reef has a very flat underlie, which will give an extensive block of ground for scoping overhead.

Esperanza (VVaihi). —A reef about seven feet wide has Been picked up, outcropping ore each side of a small creek. The men are now employed opening it up and breaking it down. I tried several prospects from it, with the result from one I obtained a few colors by poundiqg. I have had three levels started, and about 30 feet of driving done. One of these levels shows splendid sandstone in the face. In this level I picked up the abovementioned reef. .

Waitekauri No. 2 (Waitekauri),— Drive on No. 2 reef: The country still continues splendid for gold, and I can now get a small prospect by mortar and dish. The reef is 'getting more solid. Hauraki Sooth (Coromandel, April 3).— Crosscut towards Magazine reefs; Total distance driven, 208 feet. Excavation for shaft side: Favoured by fine weather, good progress is being made.

Sunlight (Thames, April 3).—ln the drive there is nothing fresh to report. The character of the lode has not changed. The quartz is still highly charged with silica. I am still trenchine, but have not discovered anything worth reporting. City of Auckland (Thames, April 3).— In a few days the race will be finished, also the shaft will be well in hand. The low level tunnel to meet the shaft has been extended through very firm couutry. Great Marototo (Mar to to). — There have been six reefs at various distances from each other intersected over almost all portions of the property, varying in size from two feet up to fully 15 feet in thicknets ; two of these reefs I am at present operating upon, one a very large reef that can be traced for the whole extent of the Jason section of your property, and from which very good assays have been obtained by the original prospectors, varying from £2 10s to £8 5s per too. Have also had two men employed operating on a reef two feet thick which traverses the Mexico section of your property, and which gives a prospect of gold by pounding. In the Marguerite section there are several reefs outcropping— one in particular. And judging by the stone showing on the surface I .think it will torn out to be a very large reef. Ohinkhuri Syndicate (Waitekauri, April 3).—Owharoa shaft: The bricklayers will have finished about the middle of the - week; some parts of the engine have arrived.'. Elliot tunnel: Everything ready for a start. Maritana - (Owharoa, April .'3).—No. \ 3 level: Have just penetrated through a very tight bar for four] feet, , but apparently I am through it and a splendid class of sandstone country interlaced with quartz itriugeri appearing in the face. '

Deep Lead (Karangahake, April 3).—Nothing fresh to report. Main tunnel: Country much the same. Excelsior (Karangahake, April 3). Crosscut from main level: The one going west is penetrating through small leaders now. Driving east an improvement is taking place; the ribs of quartz prospect better. The stone carries a good deal of silica, and has more of a kindly appearance about it. Bay View (Kennedy's Bay, April 3).—No. 4 level; at south side. Stone much improved. got a few colours. Southern Cross (Waitekauri, April 3).— A good description of sandstone is being met with in the low level.

Prince Regent (Karangahake, April 5).— The country continues much the same, still intermixed with quartz stringers. Mariner (Karangahake, April 3).—Have driven on the leader for seven feet for the week; it is about seven inches wide at present and by pounding I obtain a few colours of gold in the dish. The mullocky leader up the river has opened out and is fully two feet wide and gives the best prospects of gold I have ever obtained before, but not payable yet. They have driven a distance of 12 feet through a nice brown sandstone, both good for gold and speedy driving. Imperial (Karangahake, April 3).—Driving north and south on the course of No, 1 reef; A stretch of 74 feet is opened up ou the line of the lode; a noticeable improvement is manifest in the south drive and the lode seems to get better the further exploitations are carried southward. To-day fair dish prospects were obtained by pounding in the mortar.

jersey (Cabbage Bay, April 3).—No. 7 leader is improving in size, gold showing in some of the stone. Prospected a good deal, found two new reefs, one of them showing colours of gold. No. 6 leader showed gold freely by pounding and washing.