MINING NEWS.

New Zealand Herald, Volume XLVIII, Issue 14746, 31 July 1911, Page 5

MINING NEWS.

THAMES DEEP LEVELS.

; [BT TELEGRAPH. correspondent.] 'i Thames, Saturday. The hard bar of rock met with in the main crosscut at the 1000 ft levels still continues to retard progress, the ,distance ( driven for the past week being 26ft. It is impossible to form any estimate as to the thickness of this bar of hard rock, but as it has . already been penetrated for a distance of -60ft it is reasonable to suppose that it will not continue much further, and that a change for the better may take place at any time. _

:• :,/ , '■ SAXON. ■, . ',;.'■ . [by SBLEGRAPH.—OWN CORRESPONDENT.] ■: .-■■-,.• '(Thames, Saturday. • A start has been made by the Saxon Company to open out on tho lodo passed through in the main crosscut at' the 1000 ft level. This lode is about. 15in.in thick-" ness, running in about an east and west course, and nearly parallel with the boundary of the Saxon and May Queen claims, its position being about 50ft inside the Saxon claim from the .boundary. It is now being- driven on eastward from the crosscut. So far only a distance of about 6ft has been driven," and a little of the quartz was broken down yesterday with encouraging results, tho ore being well mineralised, and good colours and dabs of gold can be seen through it in places. The drive is how being continued . along the' lode, which is being stripped. :

MAY QUEEN. [BY TELEGRAPH.OWN CORRESPONDENT.] Thames, Saturday. In the drive on the Exchange reef at tho 1000 ft level, a total distance of 137 ft from the crosscut has been driven, and during the week the lode has been disturbed by a. break crossing it. . This has now been passed through, _ and the lode appears to be forming again beyond the break in the southern section of the mine. The crosscut from tho main drive" on the Queen of Beauty reef is being continued towards the Piako shaft, and has been driven a distance of 73ft from the crosscut. The face is now in a good class df country, a considerable quantity of water being met with. The battery is still engaged in crushing the ore from the stopes at No. 6 level of the May Queen section, and cleaning up will take T place early next week. :

HAURAKI REEFS. The manager of tho Hauraki Reefs mine, Coromandel, telegraphed as follows on Saturday : —" Strong colours of gold from 3in loader in the 400 ft crosscut." : . •

MOUNT ZEEHAN.

The winding-up call of lOd per share in the' Mount Zeehan Gold Mining Company,' now in liquidation, is likely to cause some hardship on holders of contributing shares. With a view to preventing such hardship, the liquidators convened a meeting of the shareholders, when it was resolved to empower the liquidators to make compromises whereby the' call could be paid in instalments- An advisory committee was also appointed, to be consulted by the liquidators in the matter of arranging with shareholders and the disposal of the assets.. ■.■ ';■■' ..... •■,' '.J.-/,. : : .'.'"?;•.■■;';■

TALISMAN PROSPECTS. ■ - r [from OUB own correspondent.] , .;.. •.'•: London, June 21. ; Fewer than 20 shareholders attended the annual meeting of the Talisman Consolidated held this week at Winchester House, and the proceedings were purely formal. The';'.chairman (Mr. F. ; C. Auld) made a statement so entirely satisfactory that not a single question was" asked; and the report was adopted without discussion. • Mr. Aidd was re-elected to the, board, and Mr. Stansfield and the staff in New Zealand were cordially thanked for their able work during tho year. * In proposing the adoption of the report the chairman congratulated the shareholders upon, the strong financial position, of the company and the bright prospects disclosed in the"* report/ ; With- regard to developments it would be .recollected that in his speech a year ago he referred to the discovery of a new make of ore at 711 ft in the main south drive at the No. 13 level, which had at that time been opened up for a distance' of 214 ft. On development work being- continued at that point payable values were . found to extend for. a further 14ft. At 780 ft south a "rise had been put through to the No. 12 level, and had proved the continuation of that new ore body upwards for a distance of 136 ft, snowing values ranging from £10 to £5 lis per ton for the whole of that distance. In addition to that, since the end the year under review the Dubbo section had been met with in the south drive at that level, viz., 1219 ft, and the reef had been driven on for a distance •of • about 200 ft, snowing, good values ranging up to about £5 per ton for a width of sft. The results obtained in the 13th level had been far better than those met with in the 12th level, but those, excellent though they be, were far surpassed by the values opened up in the developments carried out below the No. 13 level! They had just received a cable message from Mr. Stansfield informing them of this, and that below the No. 13 level they had now . 19,506 tons of ore of an average value of £7 15s per.ton. They had also above No. 13 level 33,164 tons, averaging £4 16s per, ton. ■ Those made a total of 52,670 tons, having a gross value of £310,358, as against 47,703 tons at the end of February last, having a gross value of £299,253, showing an increase in value . of £11,105, ; notwithstanding that they had also extracted from the ore reserves shown at the- end of February last 12,350 tons for a , return of £53,955. . Having given further details of the developments on various sections of the property, he remarked with regard to the ore reserves that the tonnage blocked out to February 28 was 49,700 tons, valued at £6 0s 6d, as against 35,700 tons, value. £5 15s 3d, at the same time last year, and in the meantime over 40,000 tons 'had been ' treated. These reserves were made up on the most conservative basis, and in no way. showed the' prospective tonnage. ■ On the whole the prospects of the mine were .never so bright, and during the last 12 months the developments had been particularly good, proving the ore bodies below No. 13 to bo of much higher grade and more consistent. There were several interesting points where good developments' were ' probable for the coming year. •: >.-. •:'■* - ■■-...'