THE GOLDFIELDS.

New Zealand Herald, Volume XXXIV, Issue 10411, 8 April 1897, Page 6

THE GOLDFIELDS.

AUCKLAND SHAREMARKET. The somewhat better feeling on the Auckland share market was maintained yesterday. There were transactions in National Insurances at ISs 3d and in Auckland Gas (old) at £14 ltd. Thames stocks were neglected. Barriers were about the same with buyers of lonas at Is, and of Great Barrier Gold and Silvers at 5i 3d. Imperials were exchanged at 9d, and there were unaccepted offers for Talismans at 15s 6d. Waihi Exteudeds closed firm after sales at 7|d. Coroinandel Freeholds rose sharply with numerous sales up to lOd consequent on the publication of a cablegram that a firm offer for the property had been received. There were sales of Hauraki Mo. 2's at Is.

WAIHI 6.M. CO. 3150 TONS YIELD £10,033. GRAND T0TAL.£526,118. The Waihi Gold Mining Company, during the past four weeks, crushed and treated 3150 tons of ore for the s»tistactory yield of £10,033 worth of bullion, viz., 8588oz. Last month 3120 tons yielded £10,585. The present yield brings the product from the mine since 1890 to the grand total of £526,118. The following show the returns from the date namedj

JUNO G.M. CO.

79Joz GOLD OBTAINED. Sixteen loads of quartz and 57|lb of specimens and picked stone were treated by the Juno Gold Mining Company for 790z lldwt gold.

WAIHI PINNACLES G.M. CO. A special general meeting of shareholders in the Waihi Pinnacles Gold Mining Company was held yesterday afternoon. Mr. John Chambers presided. Mr. Cave said the whole of the money had been spent, and a call had been made ou the contributing shareholders which had not been paid, There was only one director left. They could not pass a resolution for winding up, as they were still in debt. Some £700 had been spent on the mine. The manager was confident that with a further expenditure of about £1000 he would cut the reef. The Chairman said the question was whether the shareholders were prepared to provide another £1000. Mr. Cave said it the contributing shareholders paid a penny call, the paid-up shareholders would pay any further call that might be necessary. The legal manager mentioned that, including rents, the company were in debt to the amount of £200. The Chairman said they seemed to be blocked in every way. They could not liquidate unless they were out of debt, and there seemed little prospect of the call being paid. Mr. E. W. Burton, on behalf of a client who held 63,000 contributing shares, said he was opposed to any call being made. Mr. Cave moved that Messrs. Colbeck, Bevins, and himself (Mr. Cave) be elected directors. This was carried. It was stated that a call would have to be made, and those not prepared to pay would have to forfeit their shares.

BROKEN HILLS (TAIRUA). Messrs. George Sievwright, Leo Myers, and T. Seaver, directors of the Broken Hills Company (Tairua), returned at an early hour yesterday morning from a visit of inspection to the property. On landing by launch from the B,s. Admiral, it was found that a splendid road had been made to the mine; work on .the property itself was being pushed ahead as rapidly as uossikle, about 60 men being employed, for whose convenience quite a model camp has been made. The low or battery level tunnel'is now in 120 feet; for some distance* it passed through rhyolite rock, but is now on very fair looking sandstone. Mr. T. Seaver here intends to drive in another 100 feet before crosscutting for the east and west lode, which this tunnel should cut in about 600 feet. The reef struck in the crosscut off the No. 2 level has been driven about 100 feet north and south, the stone assayine fairly well, especially on the south side. The large cutting has been continued on the strike of the north aud south reef, and is now almost in to where the rich stone was originally found by the prospectors. At the lower part of the cutting a tunnel has been started on the course named, somewhere about 40 feet lower down than any of the surface levels.—No. 2 and No. 1: This work has been pushed along as fast as possible. The intermediate level is now in ou the south-east side of the hill, about a distance of 100 feet. The ground is very soft, and easy driving. Loose stone has been assayed out of this, running as high as high as 30s to £2. The No. 3 tunnel to cut the east and west reef has intersected a large body of stone, assays running up as high as £6. As the leaders of No. 3 are east and west, and the rich leaders in No. 2 are north and south; it is thought the two will come together, with very rich results. In accordance with instructions the waterrace is being pushed ahead. Mr. Seaver has prepared a very large contour map of the property, showing the important bluffs, and all parts of the mine. The directors are highly satisfied with the systematic way in which the permanent work is being prosecuted. CHAMBER OF MINES.

It may not be generally known that besides the ordinary reported business transacted by the Chamber of Mines, a very large amount of quiet but highly useful work is done by the legal and subcommittees of that body. Many of the subjects that have- been dealt with would, it will be readily understood, have their objects defeated were there to be full publication, particularly as the aim of a great number is in the direction of amending the law. Amongst other matters that have come under notice it is interesting to know is the impost of an annual license fee. For instance all companies formed for mining purposes "exclusively" are exempt from the payment of this fee. But, under the Stamp Act, if the memorandum of Association in the least degree travels outside this " exclusively," as is the case with a good many English companies, then the annual license fee has to be paid, this being calculated upon the amount of capital. This involves a great hordship, seeing that these companies have no other object than mining in New Zealand, and never contemplated mining anywhere else. Not only does this impost mean a considerable drawback, but it is a constant source of irritation. Another thing that has been dealt with by the Chamber committee* has to do with the filling in of schedules for the Mines Department. Questions are asked which can only be answered by the legal manager or some person at the head office of a company. It is impossible for legal managers or secretaries of English companies to obtain the information required in the colony, as will be at once understood, when it is stated that amongst the questions are : " What is the amount of cash in hand!" or "unexpended capital on hand," etc. The extended period of pro- i lection granted over special claims has likewise been considered. Complaints have been made that the period now is not sufficiently long to enable the holders to make all arrangements necessary for the flotation of the property, and that the extension of this period would be just, and of material benefit to the mining community. The jumping of special claims, licensed holdings, and water rights have too been under consideration. It has been suggested that where a license of any kind has became liable to be forfeited, the proceedings to set on foot such forfeiture should be taken by an inspector. The question of the reduction of rent has also been under discussion. At present the rent charged is 5s for the first year and 10s for years subsequent. The chairman, however, considers the rent might well be reduced to 5s for the first 3 years, which would favour the mining industry. Other matters of. like nature have been referred to the Minister of Mines and satisfactorily settled, but, in reference to those explicitly referred to above the under secretary of the Mines Department is to visit Auckland and has promised to meet the committee of the Chamber and discus the various proposals, •;. • ' , v V GENERAL MINING ITEMS. -.-.:.' The manager of the Bendigo (Puru) wired yesterday: " Cut big reef, low level.'' V j Yesterday the mine' manager of the Wynyardton telegraphed: "In ' breaking leader to-day got a 1 few small. nice specimens; about one foot thick of quartz showing of a rubbly nature.* 'r..v J ,; : "-;v.' .• < •

In reference to the Uclmscs' the manager has wired : " Broke down reef No. 1 stope; gold showing freely through the ore." Messrs. Esam and Arthur will sell to-day the property in Queen-street belonging to the estate of the late Mr. Martin McDermott, and at the same time other properties at Mount Roskill as per advertisement. An extraordinary general meeting of the Elvira Gold Mining Company is called for A special general meeting of shareholders of the Proprietary Gold Mining Company takes place on April 15. THAMES SHARE4IARKET. [BY TELEGRAPH.—OWN CORRESPONDENT.} Thames, Wednesday. Alburnia East, sales 7Ad, sellers 9d, buyers 7Jd; Argosy (call paid), sellers 7d; Club, sellers 3d; Conservative, sellers 4d, buyers 3d; King Solomon, sellers 2d; Mata Reefs, sellers id; Mclsaacs, sellers 6d, buyers 3Jd ; Moanataiari, sales 10s 6d, sellers lis, buyers 10s; New Whau, sellers Bd. buyers 6rt; Nonpareil, sellers lOd; Occidental, sales 2d, sellers 3d; Tararu Creek, sellers 4s : Temple Bar. sellers 4d; Victoria, sales 2s 6d, buyers 2s 6d; Royal, sales Is 4d, sellers Is 6d; Kaiser (contributing), sellers sd; lona, buyers Is; Albert, sellers Is Bd. NEWS FROM THE MINES. [BY TELEGRAPH. CORRESPONDENTS.] Thames, Wednesday. CLUB. The low level crosscut is now well under way, and will be pushed on with all possible speed. MATA REEFS. The crosscut) to intersect the new reef is passing through a good class of country, and fair progress is being made. CARDIGAN, The sinking of the company's shaft is steadily proceeding, but there is still a largo amount of surface soakage water to contend with, which considerably hampers progress. MCISAACS. The reef in the No 1 stope upon the Australian reef was broken down to-day, and gold could be freely seen through the ore. This is very encouraging, inasmuch as there is a large extent of reef unexplored, and for that purpose the drive now in progress is being vigorously pushed ahead, SHERIDAN. A splendid class of country continues to be penetrated in this company's low level, and during the week a very promising vein of quartz was passed through. Three shifts of bands are engaged extending this low level, but there is still a large amount of driving to accomplish before the Sheridan lode is reached. NONPAREIL. The south crosscut to intersect the Wade reef is still penetrating a very firm country, indicating the presence of a large body of ore. The western drive upon the course of the Liverpool Boys' reef is being steadily advanced, but there is nob much change to note. Gold continues to be seen through the ore, but not so much picked stone can be obtained. KORAStJI-CALEDONIAN. The repairing and cleaning out of the crosscut from the Big Pump shaft to the No. 4 level of the Caledonian shaft has been commenced. A length of from 500 to 600 feet should effect the connection. Stoping on Darby's and the cross reef is steadily proceeding, and a good class of payable ore continues to be won. The company's 20 - stamp mill is running eight hours per day, In all probability cleaning up will take place at the end of next week.

Coromandel, Wednesday,

Regarding the reported find at the Wynyardton I visited the mine and inspected the reef to-day. It was intersected in the Southern shaft, and about SO feet in on the crosscut. The reef has a great underlie to the east, and runs right through the Wynyardton property. On one side there is a horse of mullock between apparently two reefs, but on the other the reef is compact, being a clear foot through. The composition of the reef is rubbly, and the gold shows freely in the stone. So far no great' haul has been made — just a few small pieces of good picked stone; but quite sufficient to show that a possible valuable lode has been discovered. The manager (Mr. Senior) has only one man working with him, so that one is on the windlass while the other is below. Therefore, great things must not be expected until more men are put on. The country is easily worked, and with a few men it would not take long to get out a crushing of what) should at least prove good payable ore, with the possibility of at any time dropping across a good patch. I may say that I was in .company with Mr. Brown, a former director. We both saw gold in the face of the reef to-day, which was broken down in our presence. The find cannot be described as rich, but it is most encouraging.

MINE MANAGERS' REPORTS. Golden Hill (Manaia, April 2).-Ex-tended drive through a hard belt of blue rock. There is a better class of country showing in the floor of the drive.

Coronet (Waikoromiko, April 3).—N0." leader is much smaller than when I started to drive on it; it is about six inches wide, and a very good class of stone. In the first breaking down I saw colours of gold in the stone. lam going to drive both ways on this leader. No. 3 leader: So far I have found no gold. It is split in two parts, and very little quartz at present.

Mangakara United (Waitekauri, April 3).— 5 reef has been rather small, but is now opening out again, and prospects a little better. No. 6 reef is at present a little broken, but the quartz is still of the most kindly description. Northern section : The country on No. 1 reef is much firmer, and interlaced with nice mineral seams, but there is no change of importance in the nature of the reef. Have driven a few feet on the new reef. It is well defined, one foot thick, and carries nice minerals for gold.

Rising Son (Owharoa, April change in the size of the reef ; the ore coming to hand looks well at the present depth, 25 feet.

Big Reef (Te Puru, April 3).-No change in the crosscut at the creek.

New Zealander (Waitekauri, April 5).— No. 1 reef, No. 3 level: The reel is a large body of atone, carrying excellent minerals for gold, and showing a first-class hangingwall. No: 4 reef: Thequaitz here looks well, carrying copper pyrites and other minerals associated with gold, and the country is of the best description. Waitekadri Sooth (Waitekauri, April 3).—No. 2 reef : Have driven ou this reef for a distance of 50 feet on the hangingwall side; at this point I drove through the reef which proves to be eight feet wide of a nice class of stone. Crosscut: A nice class of sandstone is being met with.

Victoria (Thames, April 6).—The eastern drive at the intermediate level is passing through a much letter class of country, and a corresponding improvement is noticeable in the quality of the quartz won from this point. The leader, though still split into a number of small stringers, shows gold freely, and in the latter part of the week some very fair picked stone was selected. In the leading stope over this drive a few pounds of stone are frequently secured in breaking the reef and the same may be said of the second and third stopes, though in a lesser degree. In the western drive at this level a break has crossed the face. The leader has been thrown out of its course; driving with the object of picking it up again is being continued. Occidental (Thames, April 5).-Extension of North istar low-level crosscut: We have passed through two or three different stratas of country of a varied description. There is a decided improvement in the class of sandstone being penetrated. Ho. 1 leader: The block of ground upon which stoping operations for some time past have been carried on is now exhausted. Kaiser (Thames April 3).-The branch reef is bearing round toward the main reef Put the men to drive on the main reef which looks about the same; seen a few colours of gold during the week. Carries the same favourable minerals in the reef with good country. Paul's drive still in quartz but the country is unsettled. May Qijees Extended (Thames, April 5). -Drive east , from the Onehunga crosscut: Intersected a large-break, which has caused the reef to be considerably split up, at preK?.fci- U - ■ ag *i n maWnR " olid and showing bright mineral i through the quartz. Drive west of the crosscut: Reef about, six inches wide, the ground surrounding it is such that we might expect gold at any time. Are stripping the reef in the Bokianga section, the ground has improved considerably since starting. Expect, to breakdown the reef some time this week. -. ■; '-■, , !.SFiW'■, M ««K , (Waitekauri. apru 5.)-Broke down the reef, saw no gold Jtone but got a slight trace of gold r in the dish by pounding. The reef is forming into » splendid body of stone. It is about eight feet thick, and 'keeps improving as .fuT'i '\Q*', W £& » everything that could be desired. •. There ii so doubt we

J---.Y intersect this reef next week ' 6 ,ho, J Golden Link (Kuaotuau/Anril « » at specimen level has ««JUl P ,"-jIMM feet, and is composed ff*»f 5 kindly-looking quartz and [XT' »» « fine gold oce^lall^iuThefe??" I .' the past few days the reef ha. fc ar,D disturbed but in the pSt facH, tf 2 antimony distributed thCh tfc" ohe " o£ «d the general atpearanceVf th. &* I i-HOiMxlKnaotuiu,April 2).-Dri»A«»«L > I course of the Invica lode: The o ODth < I tinues of a favourable LSkn &.1 reef has been token down & ?A. bnt ? Quartz stringers a- 0 still coming, •-<? Week 1 hangingwall whhh 1 close to hand. Xknyluown reef,SW f country west of air vmm low A are now passing through a golden U 1 country, which slould fie eTDlored « $ J drive on No. 2 ref • The reef inS '> ,! >'l so compact as it Vs. heinfnoreof 1 1 nature Nevcrtlelek we sKufoftl obtain fair prospects by mortar tests °'4 Trojan (Thanes, Auril -t\ _n. 'I intersect So. 3 Me v »&' '«« but I think it will soon cut h " d '°-' " Tracing the reefd find thattheytiX | whole length of jour ground. e "" | Talisman* (Karaneahalr. a. •■ *§ *f;Wr e - veh VSSyiS jointy blocks, bis is verv hard. The f. 3 the drive is 54 bet part where I expected? 1 intersect the ref. Have come to ,1 '* - ; elusion that tin leader about Vfadh* ' thick, cut in the drive, is the reef and \ is only about 20_feet on the south side o ft» ' big slide where t was cut, this account t it being so smallthrough. "' ; CoviEß LIOHI (Coromandel, April 4) '■ Low level, No. . leader going SoSth-& ; leader is makinf again, aud the count™ i. f getting a little soter and better forworkU i No. 3 reef: The ;ise is up 5 feet- the riff f and the country ire looking first clasj.C gold has so far uoi been met with. ' • Wynyardton Coro.ii-.ndcl, April 5) Drive: No chauje. Drive from shifT! ; Nicely miuerahsedquartz coming in on roof of the drive. The little quartz so far oh. tained contains night silvery mineral characteristic of mot of the golden leaden ' of this district. > 't™ My Sweetheart (Hikutaia, April 3) Advanced the prospjetiug drive 21 feet 7 fully expected to cut the lode at this point but have not dontso. There is a ]„., quartz lode outcropuiig only 3} chains to the ' north of this point. The end of drive is in rhyolite tufa, and if we do not get a lode in the next few feet it »ill further prove that we cannot get low enough without a shaft Prospecting work n:ar the middle of the Sweetheart section : Have found some law. boulders of very nice-looking quartz, Th™. are almost in a direct line with the strike of the Fukewban lode. One of these boulderi was about a ton weight, and showed vet! nice bine and white laminated quartz. ••• ■ Irving (ffaihi, April s).—Lower level A good class of country; no quartz has been met with. Albert (Tairna, April 3).-No. 7 tunnel ■ The couutry is of a harder formation. lb tunnel No. 4 in the-Despised section is pushed ahead to intersect the reef mentioned in last. Renowj (Thames, April 3). - Engiged stripping the hangingwall of the reef as mentioned in last, and have about fourteen feet stripped. La Mascotte (Wharekeraupnnga, April Have sut a nice-looking reef in the ColeStream. Are now into it about four feet anil no sign of the wall yet. I cannot tell the exact size. This may prove to be the big ft foot reef outcropping in the northern end Am forwarding a piece of the stone. Thi drive in the Dublin portion is now in 145 fed, I If the Royal Standard reef continues a course as indicated, the reef just cut ran prove to be u, junctioniug with our big reef,'.'•' Albdrnia East (Thames, April 6).-North drive : The lode varies from a foot to three; and carries eicellent minerals aud silica, la' thestopes there is not much change. The lode maintains its average dimensions, and gold is seen at each breaking down. # Silas (Thanes, April 3). — Crosscut jo intersect the No. 1 reef: Good country ii being met with. I hope to get a fair start next week with the crosscut to intersect the other reef. Further down the spur the lode. is about three feet thick, and is of a verj promising appearance. The country is com. posed of a kindly class of sandstone. Pride of Hadraki (Coroniandel).-Lo» i level to interstct new leader: Cut a small leader two inches thick and heavily coated with oxide of iron and also showinj met mineral. lam expecting to cut new leader. any day. Kino of Omahu (Omahu).-On No. 1 red the stone in the face is getting much h.irda and not so much rubble. I can still get jell by washing. In the Harp section I have cat through the ironstone formation that shed gold on the surface. It is split up into small >■ rubbly stringers, most of them earning 1 little gold. ' * ' ;■■ Waikoromiko (\Vaikoromiko).-The coun- : try passed through is a hard class of sand- 'i> stone. ; <

Leading Wind (Manaia).-The ground bit improved, and we are making more headway. We are now in 18 feet, and water ii flowing freely from the face. Mokion-Puru (Thames, April 3).-Ho. reef: Little has been done to the reef this week; however, will be ahle to make a fair i start on Monday again. Rinm reef: Cronout to intersect this reef: The country still continues to be of a very hard description. ■ Boss (Thames, April 3).-No. 2 drive hi) advanced four feet for the week, full di» ' tance 112 feet ; and No. 3 drive also four fe^;' making 45 feet altogether from crosscut' Both reefs looking well.

Billion won— Tons. £ In lS9il., „ „ - .. 20,930 In 1391 .. — .. 23,934 In 1892.. „ „ .. 18,236 „ 44,8S3 In 1893 1»,805 .. 61,900 III 1834 24,804 .. 82,827 In 1895 33.C70 ,,, Tons tailings .. 2,095/ M UU|M1 Period ending— February 8,1890 .. .. 3,060 1 ,OBCA Tons tailings .. 5,2101" "> su March 7, 1896 .. „ 1,9501 ,,,, Tons tailings .. 252/" ■ April 4,1898 .. „ 2,220 _ 9,352 May 2, 1896.. .. „ 2,850 „ 12,053 May 3'i, 1896 .. „ 2,700 .. 9,704 June 27,1596 .. .. 2,910 11,427 July 25, 189' .. „ 2,970 .. 9,947 August 22, 1890 .. _ 2,900 .. 8,790 September 19,1890 .. 2,8.'0 .. 12,265 October 17, 1890 .. „ 3,08" .. 12,(366 No?einber 14,1896 .. 2,910 .. 13,143 December 12,1896 .. 3,030 .. 13,059 December 19, 1896 .. 930 .. 3,216 February 6.. _ .. 4,140 .. 13,877 March 6 ., .. _ 3,120 .. In,58^ April 6 ...... 3,150 .. 10,033 140,002 £526,118