THE GOLDFIELDS.

New Zealand Herald, Volume XXXVIII, Issue 11564, 30 January 1901, Page 6

THE GOLDFIELDS.

AUCKLAND SHAREMARKET. The market was quiet again yesterday. In investment lines New" Zealand Insurances

1 sold at 68s, more being offered at 695. Union Oils sold at 19s. Mitchelson Timbers were quoted with sellers at 21s, buyers 20s. In mining lines, Upper Thames stock came in for chief inquiry, though the only sales recorded were in Waihi Extendeds, which changed hands at 4s lid and ss, late buyers offering 4s lOd, sellers asking ss. CheLmsfords, at 3s TOd, were looked for at 3s 6d. Crowns eased to 13s 9d, with buyers at 13s. Tairua Broken Hills were slightly firmer, sellers advancing to Is Bd, no buyers quoting. There were buyers of Talisman Consolidateds at 19s 3d, sellers 20s 3d. Barrier -Reefs changed hands at 10s, with further sellers at 10s 3d, buyers 9s 6d. In other lines late prices ruled. ! . ■ _ . . ... PROGRESS-CASTLE ROCK G.M. CO. In the Progress-Castle Rock Gold Mining Company's mine, at Coromandel, the bottom level northwards, on Reynolds' reef, has been extended a further 6ft through a good class of sandstone. The reef formation is about lOin wide, slightly disturbed in the face, owing to a cross-course being met with, and the quartz is friable. In the bottom | of the drive the stone is making more solid, and an improvement is looked for shortly. The main "rise is now up a total of 32ft, and the fifth stope has been started off it. The reef has made together again in the rise, but is not so well defined as formerly. In breaking down the ore body showed gold. TAIRUA BROKEN HILLS G.M. CO. Mr. H. H. Adams, manager of the Tairua Broken Hills Gold Mining Company's mine, at Upper Tairua, reports as follows: — " During the Christmas holidays I crushed 50 tons of ore from the new reef, called the Blucher. for a return of bullion valued at £155 10s. This return you will see is highly payable. The ore was taken from the eastern crosscut, which gives backs, where the lode is cut, 266 ft in height. I have driven 37ft on the line of reef, and the lode is highly payable in both ends of the drive. To prove this level dowAwards I started an underhand stope along the bottom of the level, with nine men, and have broken out 25 tons of ore, showing an average value of £8 0s 9cl per ton, which prows that the reef is improving in value as it goes down. Those stoping operations will be continued. The low level has to be driven 90ft to cut this lode if it continues its present underlie, and judging from the country now in the face, I am in hopes I that when cut it will prove highly payable. \ This latter level will give further backs of | 295 ft from where we are underhand stoping, I and will make sw complete connection, with i country now mill, and put the company in ] that when cut it will prove highly payable. I This latter level will give further backs of 1295 ft from where we are underhand stoping, ■ and will make ;> complete connection with the mine and mill, and put the company in a position to work much more cheaply." WAIHI EXTENDED G.M. CO. Fair headway has been made with the j $ sinking of the Waihi Extended Gold Mining I Company's shaft, at Waihi. The counl try rock is of a jointy nature, and of a «good description for quartz bearing. As \ it is penetrated there is no increase in the I water, proving that what is being met with I comes from overhead. The quantity is very I little for the pump, though too much for a 1 bucket. The pump, so far, is working J well. __ I HAURAKI No. 2 G.M. CO. I The country in the Hauraki No. 2 Gold I Mining ■ Company's mine, at Coromandel, I has changed for the better. The drive is 9 passing through a splendid class of sandI stone, well mineralised, and with good in- ] dications for gold. I WAIHI CONSOLS G.M. CO. I The drive in the Waihi Consols Gold Min--1 ing Company's mine, at- Waihi, has been I extended a total distance of 240 ft. The I country is still a good class of sandstone. | The old drive is being cleaned out, in order I that some prospecting work may be done' a this week. No boring has been done since I the removal of the bit, as the ground is too I hard to bore with hand labour. j BROKEN HILL G.M. CO. j During the past week the low level- in j the Broken Hill Gold Mining Company's mine, at Waiomo, was only advanced sft, making a total of 25ft. The country is a blue sandstone. Work was only carried on for four days during the week. ' YOUNG NEW ZEALAND G.M. CO. The Young New Zealand Gold Mining Company's mine, at Waitekauri, has secured a new lease of life through the issue of about 33,000 forfeited shares to shareholders (all of which have been taken up). Those who have taken these shares up have been given to understand that in addition to the Id per share paid on allocation, there will be four id calls required to complete the low level funnel, to well under the known run of gold, 125 ft overhead, including the work necessary in the direction of repairing, retimbering, laying of tram rails, cutting of drains, etc. Mr. J. M. Haslett, mine manager, the chairman of directors, Mr. F. Whitehead, and a few of the other shareholders, purpose seeing these works through. A large amount of goldsome £50,000 worth—was taken out of the upper levels, mostly from No. 2 and. No. 4 lodes. When these reefs are intersected in the present main level there should be available a width of some 350 ft, and a depth of 125 ft, on the No. 4 lode, and a similar block on No. 2 lode. The latter body is from 2ft to 3ft thick, of free-milling ore, and should easily prove to be a dividend-paying reef, a large tonnage having been taken out in the block overhead. In addition to these there exists the No. 3 lode, traceable for about 600 ft (which showed, where opened up, 6ft of quartz), and also the „No. 1, or \ main reef, showing a body of ore, varying from 9ft to 30ft in width, and which has yet ! to be prospected. At the present time I good headway is being made with the en- ! largement of the main low level, and with | general repairs. About 540 ft more of this work, together with 100 ft of further driving, should bring the drive to the point where the lode and run of gold is expected to be met. , . BUNKER'S HILL G.M. CO. In the Bunker's Hill Gold Mining Company's mine, at Coromandel, a few colours I of gold were seen during the past week in the No. 1 reef. In the stspe from the in- \ termediate drive the reef is split, there be- \ ing 2ft of mullock intervening. The hang- [ ingwall is good for making gold. The winze has been sunk to a depth of 13ft, and the lode here is 6in wide. | THE KAPOWAI FIELD. j [BY TELEGRAPH- — CORRESPONDENT.] ! Coromandel, Tuesday. ; r.vngihatj claim. i_ Mr. J. Kneebone has just returned from | a visit to the Kapowai goldfield. His pri- * mary object in going there was to inspect j and report upon the Rangibau mine. He says there are several remarkable features j about the locality. The formation carrying | gold is a puzzle to all practical men, and j gold can be got anywhere on the surface in j dish prospects. Just at present, in the Ran- j gihau, a peculiar kind of lead is being fol- j lowed. There is no defined lode, but merely a hanging wall underneath, and following \ which there is a kind of mullocky, puggy, j congealed sort of conglomeration. In his j presence a prospect was taken out, when such a show was left in the dish as to fairly astonish him. Other visitors to the mine have related ihe same experience. How- j ever, Mr. Kneebone, although; as he said, j he did not doubt the bona fides of the test thus far, resolved to doubly satisfy himself whilst on the spot. He, therefore, took the pick and worked fully a foot out of the Lice, when he broke down another parcel as a j test, tha result being fully equal to, if not j better than, the first prospect. The gold consists of two qualities, a very fine class, i and also coarse leafy and shotty gold; in j fact, in some respects presenting the fea- | turcs of alluvial. About 150 ft from the present workings there is a large show of j quartz, possibly a main reef. Mr. Knee- j bone is anxious to tap this quartz at a com- j paratively low level, as he is of opinion that 1 the golden lead which he tested was a drop- j per from it. The lead at present being fol- I lowed is a little east of north, whilst the I big blow is east by west. Mr. E. Ryan, j the mine manager, is putting in another i level in order to tap the golden vein at pre- I sent being worked si a greater depth. 'J his | should be to hand in about a fortnight. The |

I Rangihau is bounded by the Big Beetle en the north, the Pinnacle on the west, and the j Excelsior on the east'; it is also about, a \ mile distant from the Welcome Jack. Mr. ; Kneebone expresses himself as well pleased with the prospects of the new field. . GOLDEN REEFS MINE. Prospecting works are being carried on ! in the Golden Reefs, claim, in the Kapowsu ! block, under the direction; of Mr. George I Lindsay. .A very promising run of gold has been discovered. , XAPOWAT G.M. CO. The Kapowai Gold ;'■ i Mining Company's mine continues to look well. A rise is now being cut up from the low level to connect with the'level above ; this will open up a large block of ore for stoping. GtrnTOWN-KArOWAI BOAD. It is stated that good progress is being made with the road between these two (points. It will shortly be available for transporting machinery and supplies to the i mines. COROMANDEL SCHOOL OF MINES. [BY TELEGRAPH.—OWN CORRESPONDENT.] Cobomandel, Tuesday.' The Government examination for mine and battery managers' certificates commenced to-day. There are 12 candidate altogether ; one for first-class coal mine manager ; one for battery manager: secondclass mine managers, seven ; first-class mi-ie managers, three. Mr. T. R. Ryan, Sub-, Inspector of Mines, is supervisor. The first session for the School of Mines commences on Monday, February 11. Several new students have already enrolled. DREDGING RETURNS. [BY TELEGRAPH.—- ASSOCIATION.] Dunedin, Tuesday. The Glenrock Company (Macetown) cleaned up for 107oz 14dwt 7gr from 130 tons, for January. Grkymotjth, Tuesday. The return from the Nelson Creek Dredge was 58oz 16dwt, for 134 hours. Kerwan's Reward (Reefton), lOoz 18dwt of amalgam, from 191 tons, top plates only. THAMES EHAREMARKET. [BY TELEGRAPH. —OWN correspondent.] Thames, Tuesday. Broken Hill (Waiomo), sellers sd, buyers 2id ; Kuranui, sellers 3d ; Mahara Royal, sellers 6d ; May Queen Ha-uraki, 1 buyers 7d ; May Queen Extended, sellers Is ; Monowai, sales 2s lOd, buyers 2s 6d; New Whau, sellers 4d ; Komata Reefs, sellers 3s, buyers 2s 8d ; Waihi Extended, sellers 5s ; Pride of Waihi, buyers 6d ; Bunker's Hill, sellers lOd ; " Four-in-Hand, sellers 2s lOd. DUNEDIN STOCK EXCHANGE. [BY TELEGRAPH. —PRESS ASSOCIATION.] Dpnedest, Tuesday. Dunedin Stock Exchange sales at premiums : Ahaura River. Is; Aldinga, 7s 3d; Buller Junction, 6s ; Hokitika River, 12s; Old Diggings, par ; Notown Creek, 6s 9d ; Pactolus, 345; Pactolus 11., 2s 6d, 2s 3d ; Pactolus HI.. 4d ; Roxburgh Jubilee, 4s 9d ; Victory, 12s. lis 6d. Paid up : Charlton Creek, 35s 9d, 36s ; Dobson 11., 34s 6d, 345, 335, 32s 9d : First Chance, 29s 6d, 29s j 3d, 29s ; Ford's Creek 17» ; Fourteen- j Mile Beach, 30s ; Galvanic, 35s> 6d ; Gold Queen, 31s 3d ; GoWen Bed, 30s 10£ d, 30s l 9d ; Grey River, 54 s 6d, 50s, 55s 6d ; Hartley and Riley, £6 16s ; Junction Electric, i 295; Kelly and Casey, 31s, 30s 6d ; Leviathan, 40s ; Merrimac, 365, 375, 37s 6d, 37s 3d, 37s ; Mokoia, 25s ; Nelson Creek, 71s, 735, 745, 73s 6d, 735, 73s 6d ; New Alexandra, 18s, 18s 9d ; Sailors' Bend, 40s; Waimumu Central, 23s ; Waipuna, 255, 24s 6d. j Otago Exchange, paid up : Arrow Junction, ! 33s ; Central Electric, 73s 9d; Electric Ex- ! tended, 39a 6d; Gentle Annie, 47s 6d; Great Central, 34s 6d ; Second Magnetic, 30s 6d. Equitable Exchange sales at premiums : Davis' Bend, 4s 9*l, 5s ; Gray River Consolidated, 4s : Moonlight, par. Paid up : Gold King, 18s ; Sixteen-mile Beach, 19s; White Star, 20s.