THE GOLDFIELDS.

New Zealand Herald, Volume XXXIV, Issue 10415, 13 April 1897, Page 6

THE GOLDFIELDS.

AUCKLAND SHAREMARKET. Very little business was transacted on 'Change yesterday. There were buyers of Union Oils at 15a 3d and 15s 6d, sellers wanting 16s 3d. New Zealand, National, and South British Insurances remained at late quotations, Palmerston North Gas had inquirers at 725, Devonport Ferry 325, Taupiri Coal 25s 6d, Westporc Coal 555, with no sellers. In' mining stocks, Mclsaacs were done at 5d and 5Jd, Victorias were sold at 2s 7d, Wailii Extendeds had buyers at 7Jd, at which price business was done. Bunker's Hills had purchasers at 2s Bd, Id less than last quotations. Great Barriers and lonas remained at late quotations. Wynyardtons opened at Bil, dropped to 7d, and hardened at close to 9il, with no buyers at latter figure. Comets dropped from 6d to 3d. Royals hardened to Is 6d. Welcome Finds cam* down from 2s 3d to 2s to accoinmoda te buyers, who declined to give more than Is Bd. Alberts opened at 2s sillers, and dropped to Is 8d at last call. ASSOCIATED STOCK AND MINING BROKERS. The following business was yesterday transacted by the above .—Victoria, 2s 7d; Waihi Consols, 4Jd ; Waihi Extended, 7Jd. NEW ZEALAND CROWN MINES. £3183 FROM 1150 TONS. The returns of the New Zealand Crown Mines (Karangahake) for the past month are now to hand. The quantity of ore taken from the mine was 1250 tons; quantity crushed 1150 tons, giving a return of £3185. The average assay of the ore milled for the month was £3 3s 9d. The previous month 1161 tons ware treated, the return being £2873. __ PIGMY G.M. CO. The half-yearly meeting of shareholders of the above company which was to have been held at Mr. \V. Elliot's office yesterday, lapsed. The balance-sheet showed receipts to have been £7151656 d, and the expenditure £9914s Id, leaving the credit balance in the bank of £606 2? sd. This property has been worked for six months on option by an English company, who are doing preliminary work before driving a tunnel through the hill, a distance of 1000 feet.

PRIDE OF HAURAKI G.M. CO. The half-yearly meeting of the shareholders of the above Company, called for yesterday, lapsed. The balance sheet showed receipts to have been £267 3s 3d, and expenditure £265 8a Id, leaving a balance in hand of £115s 2d. The principal item amongst the expenditure was wages, £200 9). This property is at present on the English market for flotation. A cablegram was received the other day to the effect that it was expected the company would be floated very shortly. 1 Pour reefs, the report stated, have been discovered _ou the property, and all contain stone showing gold freely. Oue hundred tons of ore taken from No. 4 reef, gave a return of_ loz per ton. A low level is being put iu, it being intended to drive on No. 3 reef. BARRIER ANTIMONY PROPERTY. It is stated that an engineer representing an English syndicate, has left London for New Zealand, with the object of examining and reporting on the freehold property of Mr. Thome, and which adjoins the Antimony block at the Barrier. The freehold consists of 226 acres, and negotiations for its purchase have been proceeding for some time. The representative of the English company is expected to arrive in a few days. . GLADYS G.M. CO. A special meeting of shareholders of the Gladys Gold Mining Company was held yesterday afternoon, Mr. VY. Johnstone presiding. There were present or represented 34 shareholders, holding 39,800 shares. After some discussion, it was resolved as follows : —That the directors be authorised: (a) To sell the mine and property of the Gladys Gold Mining Company upon such terms as they shall think fit. (6) To amalgamate with any other property, or to sell to or acquire any other property, on such terms a* they shall think fit. (c) That the powers given above are limited in so far chat the directors are not authorised or empowered to amalgamate with, to sell to, or to acquire the property of the Aurora Company alone, (d) To deal with the reserve shares of the Company as they shall think fit. GREAT BARRIER GOLD AND SILVER COMPANY. The return of the ton of stone from the Great Barrier property, treated at the Thames School of Mines, came to hand yesterday. The result was a return of £12 19s worth of bullion. The assay gave 2oz lOdwt gold and 530z 13dwts silver, equal to £15 9s. Telegraphing yesterday evening our Thames correspondent, to settle any point as Co particular treatment, says The mode of treatment adopted was by chlorinisation. The ore as it was received from the mine was placed into a furnace and thoroughly dried, after which it was dry crushed, by which time it had become thoroughly mixed. An assay sample was then taken and assayed. The dry dust was also weighed. The stuff was then taken to the roasting furnauce, where, with the aid of suit, a chloridising roast took place; this necessitated constant attention, samples being taken from the furnace every hour to determine when the silver had become thoroughly chlorodised; when this had taken place, the dust was raked out of the furnace, and allowed to cool on the floor. It was next conveyed to the amalgamating pan, where, with the aid of mercury, the bullion was extracted. Tliis was followed by the ordinary arrangements, in the settlers and berdans, in order to save any mercury which might have escaped from the pan, finally the amalgam was retorted, and the bullion melted up and assayed. NEW ZEALAND TALISMAN. RICH SHOOT CUT. This property is now looking better than ever before, since placed in the hands of an English Company. There are six adits, and crosscutting the lodes is proceeding at different levels. The depths between Nos. 3 and 4 levels is 80 feet; between Nos. 4 aud 5,100 feet; and between 5 and 6, 100 feet. In these workings the reef varies from about one foot to eight feet, and the assays for each, generally speaking, have proved payable, that is to say from 10s to £7, and, in the case of a rich shoot in No. 4 level, as high as £30. The assays on the average went at least £3 10s per ton. The only real test of the ore up to the present time, however, has been a crush-1 ing of 235 tons, which before treatment went £5 17s 6d per ton, the actual extraction being £5 7s 6d per ton. This was with the old ten-stamp mill, before that was shut down for reconstruction works. Last week there was an interesting development in the No. 4 level. What appears to be a new shoot of ore was found; this contains a good deal of visible gold, and is altogether of far higher grade than the average hitherto met with iu the mine. It is thought probable it will run considerably over £3 per ounce, as against 19s per ouncp, which ii about what the bullion has averaged up to now. Of course over loz of gold per ton has been obtained all along, but there is a distinct improvement in the value of the bullion itself. At the present time the shoot mentioned is from one foot to 18 inches, and is independent of the main reef in course of exploration. Constantly these subsidiary bodies are being met with alongside the reef. The new battery it is anticipated, will not be started for another couple of months owing to the delay in getting timber; when once started it is expected an average of nearly £5 per ton will be approached. All the ore hoppers in the hill and the kiln formerly used for drying the ore are filled (about 500 tons being in readiness here), while the paddocks at the months of the adits are assuming a large size, so there will be no scarcity of ore. When the mill is working there will be 20 stamps, of which 10 will lie 8501b each and 10 10001b each. The mortars to be used for the latter will have double discharges, which will bring the output up to 30 tons a day. A parcel of ore has been sent home for decision as to treatment. This came from the No. 4 level, but it has been found that at the No. 6 level the quartz is purer than in the upper levels, containing far less clayey matter. It is therefore likely that the Talisman will be able to adopt wet crushing at un distant date, certainly when the Nos. 7 and 8 levels are in. Additional to the work referred to above, a Krupp mill is on the spot, but not erected; this will be put up when circumstances justify it. A 4-inch diameter pipe line has been put in from the Talisman claim, aud also two Victor turbines, ca'pable of developing 120 horse-power effective. There will be jilso an electric light installation. A revolving air dryer is being substituted for the kilns; this is now ready for running, and will mean considerable economy, and probably a better extraction.

GENERAL MINING ITEMS. I The necessity of having more complete I plans, showingl)att«ry sites and water-rights has made itself felt. At present the sites are shown on separate plans, which afford little or no information, frequently leads to confusion, and, in some instances; to litigation. It is suggested that plans showing battery sites in id water-rights in the same inauner as speciiil claims or licensed holdings, should be available, and an endeavour is to be made to bring about the desired alteration. . It is probable the matter, will be discuMtd by the Chamber of Mines. . .

The manager of the Waitekanri Junction telegraphed yesterday to the effect that he had cut a large body of ore in No. 2 level, driving east. The second of the series of articles on mining at the Great Barrier appears in another column. An extraordinary general meeting of My Sweetheart Gold Mining Company, is called for May 5. A sale of forfeited shares in the Mata Reefs Gold Mining Company is advertised for April 26. , , ~„,., A sale of forfeited shares in the Salisbury Gold Mining Company will be held to-day. A special meeting of shareholders of the Tairua Amalgamated Prospecting Company will be held on May 4, and will be followed by the half-yearly general meeting, THAMES SHAREMARKET. [BY telegraph.— correspondent.] Thames. Monday. Alburnia East, sales Bd, sellers 9d; Broken Hill, sellers 8d; Conservative, sellers 5d ; Darwin, contributing, sellers 4d ; KuranuiCUedonian, sellers sd; King Solomon, sellers 2d; Kuranui, sellers Is sd: Mata Reefs, sellers 4d; Mclsaacs, sellers 6d; New Whan, sales &id; Nonpareil, sellers lid; Tararu Creek, sellers 4s; Temple Bar, sellers sd; loua, buyers Is Id; Lone Hand, sellers lid, buyers 9d; Welcome Find, sellers 2s 6il; Wynyardton, sales 6d; Albert, sellers Is Bd. TE AROHA WARDEN'S COURT. [BY TELEGRAPH.—OWN CORRESPONDENT.] Te Auoha, Monday. The monthly sitting of the Warden's Court took place to-day, Mr. R. S. Bush presiding. The following business was dealt with :- Jno. Williams and Sarah Byrgave, applications for business sites in Morgantown, granted; Fred Gallagher, application for residence site, Lipsey block, granted. T. G. Sanders v. O. Grant Plaintiff applied to have Grant's section forfeited on grounds of non-compliance with the provisions of the Act as regards building and fencing. Mr. Madden appeared for the defendant and stated some extenuating circumstances. His Worship fined defendant 10s and cosis, and stated that the regulations of the Act must be complied with, New Munster Gold alining Compauy : Application for water-race. Two objections were lodged to this application, which was adjourned till a plan was prepared. The same company applied for a machine site. Application adjourned till a plan was ready. This company was granted permission to work with two men for four months. G. B. Osmond was granted permission to work the Silver King special claim with two men for four months. Permission to work with less men was also granted to the following :— James Mills, Cadmau claim, two men for' four months; John Williams, Montezuma and Mount Morgan special claims, each one man for four months. Win. Shaw was granted six months' protection for the Mount Rvau special claim. The application of Edwin Edwards for the Just-in-Time, and of Jno. Featon for the Te Arohii Reefs special claims, were again adjourned to admit of the amendment of the plans. C. F. Spooner was granted an exchange of title for a business site in Whitaker-slreet. The Warden's Court was then adjourned.

NEWS FROM THE MINES. Thames, Monday. MAY QHEE.V. A trial crushing of eight or nine loads of quartz from No. 2 reef iutcrsected in the southern prospecting crosscut at Mo. 6 level, in the Saxon section, is at present undergoing treatment at the company's battery. A crashing of about 50 loads from Clarkou's leader at No. 4 level is also being treated. GLOUCESTER.. The work of excavating a site previous to commencing the sinking of a main shaft, together with the erection of sheds, is now well advanced, and if the fine weather continues for a short time longer, everything will be in readiness for commencing the shaft. Very fair prospects are being met with in both the No. 2 aud the Young Australian reefs, and good progress continues to be made with the crosscut which is being driven to intersect the Good Fortune reef, which should soon be to hand. TARARD" CREEK. Considerable interruption has taken place in this company's crushing during the past mouth, owing to the insufficiency of the supply of ore available from the City of Dnnedin reef in the Dunedin low level. This was brought about through a break crossing the lode at right angles, which had the effect of greatly disturbing the reef for a length of about 40 feet, when a smaller break crossed. But on the over side of this the reef has again been picked up, and is once more yielding the usual supply of payable ore, being about four feet in thickness. Good headway still continues to be made with the extension of the battery low level, where an excellent channel of sandstone country is being penetrated. The drive, however, is at present being carried along on the footwall side of the reef, so that no quartz is being broken at that point. This drive still requires to bo extended a distance of about 900 feet before it will come underneath the City ot Dunedin low level, with which it is ultimately intended to effect a connection. The battery is now in full swing again, together with the cyanide plant, the working capacity of the latter having lately been increased by the addition of another large vat, capable of treating a 50 ton charge, so that the monthly output of bullion should be considerably increased thereby, A cleaniog-up is to take place this week.

I SOUTHERN MINING. [by TELEGRAM.— press ASSOCIATION. J Donedin, Monday. The dredging returns for the past week are :-Beiv Hoy Big Beach Company, 450z. 10gr. gold Upper Waipori Company, 490z 17dwt; Jutland Flat, 2oz3dwt.