MINING NEWS.

New Zealand Herald, Volume XLVIII, Issue 14854, 4 December 1911, Page 5

MINING NEWS.

TALISMAN.

DIVIDEND PAYABLE TO-DAY.

COLONIAL SHAREHOLDERS

RECEIVE £21,707.

The 28th dividend of the Talisman- Consolidated Gold Mining Company, amounting to Is 6d per share, together with a bonus of 3d per share, will be paid today on tho 345,000 shares in the company, fend will absorb £30,187 10s. This will bring tho total dividends and bonuses paid by the company (since reconstruction) to £590,296 17s 6d. Of the amount being distributed to-day, colonial shareholders will receive £21,707 14«, there being 1215 shareholders on the New Zealand register, holding 248,088 shares. On August 25, when the last dividend of Is 6d was paid, there were 1191 shareholders on the colonial register, holding 247.488 shares, and thev then received £18,561 12s, or £3146 2 S less than will bo distributed in the Dominion to-day.

Added to the £14,646 10s the portion of the dividend from the Wailu Gold Mining Company paid to New Zealand shareholders on Friday, the Talisman dividend and bonus make a total of £36,354 4s distributed in the Dominion iu the past few days. MAORILAND. SHAREHOLDERS' ANNUAL MEETING. RESULTS OF YEAR'S WORK. far TELEGRAPH.— COBUK3PONDRKT.] Waihi, Saturday. The annual meeting of shareholders in Che Maoriland Gold Alining Company was held this evening in tho Foresters' Hall. Mr. John W. Simmons (chairman of directors) presiding. The report of the directors stated that during the 12 months ended July 27, bullion worth £2060 18s 6d had been won from the mine, of which £1345 4s 9d was for the second half-yearly period.' At the intermediate level payable ore was being mined from the scopes on tue Young New Zealand lode, tho manager estimating the average width of milling ore as 15ft, and the tonnage in sbdit in the block as 27,000 tons, in addition to which the reserves in the stopee north 01 the winze at No. 3 level were computed at 9000 tons, making the reserves in si<rht at the close of tho year 36,000 tons. The Young New Zealand lode had been intersected in a rise from the low level (No. 4), 53ft south of the intermediate level etope couth, and a strong body of quartz was showing. This was being tested by a drive north. During the incoming year a crosscut was to be projected from the low level to intersect the No. 4 reef, which gave values in the upper workings, and was proved to be a welldefined ore body of considerable promise. This work had since been put in hand, and was being assisted by a Government subsidy of £500. The directors had under consideration schemes for increasing the crushing power, with a view to adding to the gold output. After tho adoption of the report and accounts the retirincr directors. Messrs. W. G. Hume and T. R. Boardman, were re-elected, and Mr. W. D. Buddie was reappointed auditor. OCCIDENTAL. The manager of the Occidental mine, Thames, reports that in taking up the floor of the .(drive .on the Occidental reef, to lay the line properly, some good strong dabs of gold were obtained/ from right underfoot. The quartz intersected in the crosscut face is from 9in to 12in wide, and some strong dabs of gold were seen in the stone broken out. ; • MAY QUEEN. . A report from the manager of the May Queen mine, Thames, states that at No. 10 level, 1000 ft, the ht Smile crosscut has now reached on the north-west side of the shaft, ..a, according to the strike of the lode that was cut in the chamber, it should soon be met with. Good country is still being passed through, At No. 6 level sloping is being carried on on the branch leaders, and the crushing dirt coming .to hand continues to yield a little picked stone.

SAXON. [BY TELEGRAPH.OWN COH RESPONDENT.! Thames, Saturday The repairs and improvements to the machinery at the main shaft in the Saxon mine, have now been completed, and a start made to clear out the shaft ready for further sinking to connect with the deep level crosscut. A little difficulty is being experienced with tho pas accumu- | lated in tho lower portion of the shaft, but with the aid of a fan, which has been installed, this is gradually being reduced. It is expected that the gas will bo cleared out down to No. 5 level by Monday, so as to allow of the work of cutting out and retimbering the shaft being continued downwards from the point where that work was suspended some months afc 0 - ______________ KOMATA REEFS. The superintendent of the Komata Reefs mine, reporting for the four weeks ended September 30, states that the No. 2 reef at No. 6 level is smaller and the ore won is a little poorer. ; At No. 5 level No. 2 reef is still producing good ore; the stopes show 'a great improvement in value and the width of the reef is still maintained. OLD HAURAKI. The following telegraphic message has been received from the manager of the Old I Hauraki mine, Coromandel:—"Colours of gold in seaward face at the 400 ft level." THAMES DEEP LEVELS. [BY telegraph.—OWN CORRESPONDENT.) Thames. Satmlny The contractors for the extension of the main crosscut at tho 1000 ft level in the Thames Deep Levels have driven a | further distance of 38ft during the past j week, making 74ft for the fortnight. . Measuring up this makes a total of 206 ft i since the present contract was entered j into five and a-half weeks ago, which is ! a satisfactory rate of progress. This j brings the face of the crosscut about ! 180 ft into the Moanataiari ground, and i within about 270 ft of the Waiotahi bounI dary. The country in the face i& still I of a good description, and a good stream of water is making from the ground. As : the point has now been reached where ; the Saxon No. 1 reef should be met with it may bo cut at any time. A small leader" was passed through during the week, running across tho drive at a long angle, but this does not appear to be of any importance. DREDGING RETURNS. [BY TELEGRAPH. —PRESS <«-"->CrATlO>f.} DtrNEDiN, Saturday The following additional dredging returns are to hand:—l9ll dredge, 620z; i Golden Bed, 20oz; Sandy Point, 490z I ldvvt; Manuhcrikia, 60oz; Karaunui, 550z lOdwt; Golden Treasure, 18oz : lOdwt.