THE GOLDFIELDS.

New Zealand Herald, Volume XLIV, Issue 13482, 8 May 1907, Page 5

THE GOLDFIELDS.

MINES AT COHOMANDEL. OLD HAURAKI. AND. BUNKER'S HILL PROPERTIES. AMALGAMATION APPROVED BY . -DIRECTORS. ~ '. The negotiations initiated by tho directors of the Old Hauraki Gold Mining Company, for amalgamation , with the New Bunker's Hill Company were advanced a stage yesterday when the directors of the latter company, met and accepted the terms as submitted-: Mr. A. Heather (chairman) . occupied the chair, and the directors pre-; sent discussed the proposal in all its. phases. The arrangement, which has yet to receive the confirmation of shareholders ;of both companies, provides for the formation of a ;new-company to be named the Old Hauraki Gold Mining Company, Limited,, of 250,000 shares of 2s each, Id to be paid -m application, and'ld on allotment. The Bunker's Hill shareholders are' to be given, 100,000 shares, together ■ with £250 cash, to be paid during the first 12 months, and the '-. Old Hauraki : shareholders 110,000 shares, and £1000 in cash, to be paid during 12 months while 40,000 shares are to be held in reserve to be dealt with as the directors may think fit. --•,'>-' A ' total number of 100,000 shares, of the nominal value of ■2s ," 6d, fully paid-up, are held by shareholders in ' the Old Hauraki Company, and 80,000, with a nominal ; value of 2s 6d, and 4d paid up, in the Bunker's Hill Company. It will be a few weeks: before the preliminaries in connection with the new arrangement have been completed, but it is anticipated that the shareholders of both companies will support the action of their directors in the efforts being made to place the development of these two mining properties at Coromandel on a more satisfactory foot-, ing.,-' ;'.:;- ;.■'■■ '-:""■.■■"■'■' - : "'";' -' ; ;-. ';' NEW ZEALAND CROWN MINES. , . ; £4333 FROM 1813 -TONS. TOTAL TO : DATE, £680,470. For the monthly period ended AprH 30,. the New Zealand Crown Mines,- Limited,crushed and treated 1813 tons of ore for a yield of bullion valued at £4333..', This is slightly in excess of the yield obtained for the corresponding month last, year, when \ 1833 tons of ore gave a return of £4321. The return ; raises the total amount -/w en from- the mine to date to £680,470, as shown in the following. table of details: — Bullion obtained prior to 1896 ... ... £138,104 To December, 1898 ... ... ... 52,024, To December, 1899 •■;';.. ... ... ... 71,636 To December, 1900 ... ... ...' ... 66. ■'-■ To December, 1901 ... x ...... ( ... 68,073; To December, 1902 ... -.-." ... ... ... 76,452 To December, 1903 ... ... ...... 78,265 To December, 1904 .... . ....... ... 32,002 To December, 1905 ... ... ..."' ... 38,639 To December, 1906 ... ... „ ... 40,821 ' ' £661,531. Period ending— Januarv 31. 1907, 2673 tons ...' ... 6,003 t; February 28, 1907,: 1745 tons ... ... '3,901 March 31. 1907. 1843 tons ... ... 4,702 April 30, 1907, 1813 tons .... ... ... -.' 4,333 Total to date ... ... „. ... £680,470 . - Total dividends paid ... : '.'.. '. .-..£70,000 MONTE CHRISTIE. [BY TELEGRAPH.OWN correspondent.] ; t Coeomaxdei, Tuesday* Messrs. Martin Brothers treated a small parcel of general ore from the Monte Christie mine at their battery for a yield 'of 2oz 19dwfc of gold, valued at £8-lis. " v "\" ■ ■■'-';'■ MOUNT ZEEHAN. The Mount Zeehan Gold Mining Company has gone to allotment,: and active . operations', will ; be commenced on the mine ; immediately.' , .'■ • ; ~ - .NEW SAXON. . Mr. ,J. B. Sheath (secretary of the New Saxon Gold Mining Company) received the following .telegram from the mine manager yesterday:—" Good : colours and /dabs of gold in hangingwall branch, also in main body Saxon No. 2 reef." . .- . > ( MINE MANAGERS' REPORTS. '. Waihi Extended (Slay 4): Daring- tie week the main drive has been - extended 9ft. As there -was no change, in the country ft face has been opened up. on sthe .leader and driving put in hand on this course. The country here is highly favourable for the existence of- the lode. . Moanata.iari .Extended (May 4): Nothing of importance has so far been, discovered in'' the crosscut drive put in the ,hangingwall: of the main reef at ; the surface level. Several small veins of quartz have, however, been passed through and a distance of 20ffc,driven during the week. . The Alfred low level has been cleaned .out for a total distance of 400ffc from the- mouth, and■; another fortnight Ehould see the > reef to hand. Trafalgar (May 4):. A winze has been sunk, on the underlie, of the Nelson reef a -distance: of 10ft; the 'reef averaging 18in in width. The quartz won has given better prospects in the dish than hitherto, tho gold being much coarser than ■in tho level, and good strong colours': of gold, have been seen .in'the: stone on several occasions when taking ' down ■; tho reef. With the object of : testing tie Nelson reef at a greater depth; we will start next week to put in a drive lower down the spur at a point about 50ft" in vertical depth, or about 70ft on the underlie of the reef. . The distance to t drive to. intersect the reef is about : 80ft, and, as the country is apparently a . good sandstone for easy: progress,, the reef should be in hand in a weeks' time. !■ •'.'';' • • Kuranui (May 4): Tho drive on . the footwail leader, at the intermediate level, Shotover reef; has been extended 25ft east .of the rise,'making a total distance of 6Sft east of the crosscut. - We have also driven 12ft west of tho crosscut, making a total length of 80ft on tho leader. The leader has passed into the workings of Hunt's reef at both ends, and it is possible tho leader will'extend further east as we rise on it, as it is laying away from the workings. It \ looks promising for moat of the distance driven on it,, and a little gold has been seen in tho stone. at the east end. We are starting the leading stope from the rise and intend ;st-oping both east and west from this point. We have resumed driving on the Shotover leader at this level, aud: better country should open out further east: The reef is 2ft wide and composed of very heavily mineralised : quartz. The Teutonic west, crosscut .'■ has been' extended 17ft, making a total distance of 85ft. The country appears to be getting a little firmer. The 'quartz' met with last week proved to be a flat, leader, about 2in wide, but of '-'no value ■ where cut through. . - Now Una (May 6): No change of any importance has taken place during ■ the week. ■ -The: country rock is • changing gradually to an' easier class of • country- As we arc ■ now approaching the point where the .Dayspring lead should be intersected; improved and encouraging -prospects should be. looked for any day. '- A total of 350fthas been driven from the entrance. Now Waitckauri (May 4): There is nothing fresh to; report.: All the men have been employed at the hopper and the ground tram from Horn level. The. line is cleared for the : aerial train and I expect to get it 1 started next week. The battery is about completed. •', Southern Queen (May 4): The second and third stopee on the Atlantic reef are in hand and the quartz coming to hand is of a kindly description, carrying' ': favourable minerals. Strong colours of gold have been ; seen in the 'quarts',. The winze on the Blue. reef, below No. 2 level, is down 2Sft and the reef in. the bottom averages lOin in thickness, being favourable to carrying gold, and a' few: strong colours of gold were seen in the ore. Tho country is.also of a good . gold-beariug belt of sandstone and hag every appearance of carrying down .to. the low level. The drive on the Blue reef at No. 3 level has been advanced sft and the quart* is becoming more kindly as the drive is pushed ahead. It carrieo a little bright mineral -in the - stone and the channel of' country' is improving. ' Bonanza (May 4): The drive has been extended 17ft, making a total distance of 270 ft. We have got through the quartz mentioned in last report, and after driving in country rock for a few feet wo again came on to a body of quartz about 2ft 6in wide. I intend to keep the face going until we cut through this and prove its value, if no improvement takes place here. We saw some good mineral in the stone while driving through at a point 20ft back from the present face. Halcyon (May 4): I stopped: driving ■in the low level last Tuesday. The Halcyon reef is further in: the hangingwall. Tho men were shifted back to drive into the hangingwall to cut the Halcyon reef, Bifc having been driven. .."v South Kapanga (May 6): We have extended the drive north 15ft for the week and Bft south, the former being now in 54ft and the latter 24ft. Ipropose continuing the main drive, as there are one or two leaders ahead of the present face,: from one of which we can get fair prospects upon the surface..; '.-:■: .-,