MINING NEWS.

New Zealand Herald, Volume XLVIII, Issue 14855, 5 December 1911, Page 5

MINING NEWS.

WAIHI. THE CORRECTED RETURNS. TOTAL TO DATE, £9,638,077. Tub quarterly circular just to hand, issued by the directors of the Waihi Gold Mining Company on October 27 last, gives tho figures of the actual realisation in. London of the bullion won from the mine during the four-weekly periods ended May 13, June 10, and July 8 last. This realisation shows an increase upon the estimated returns as cabled of £3658, the actual figures being as follows :—May 13, estimated return as cabled £58,170, realisation £59,524 (increase £1354) ; June 10, £55,687, £56,844 (increaso £1157 ; July 8, £52,108, £53,255 (increase £1147). The excess in value in the actual realisations • over the cabled returns is mainly due to the difference between the market price of silver and the price at which it is always valued at the mine, viz., 2s per ounce fin©. These actual realisation, less the probable increase upon the returns from August 5 to October 28, bring the total output from the mine to date £9,688,077, and the total output for the year to £581,759. RICH GOLD FIND REPORTED. THREE OUNCES TO THE POUND. [BY TELEGBAPH.— CORRESPONDENT.! Whitianga, Monday. J. Cashel, prospector, at Mahakirau, has folmd some very rich stone, estimated to contain 3oz of gold to the pound. The prospector is of opinion that he has struck the specimen leaders which shed the gold discovered by Reynolds and party some years ago. MOANATAIARI. The manager of the Moanataiari mine, Thames, reports that the deep level crosscut is now in about 170 ft, and so far the Saxon No. 2 lodo has not come to hand, but the indications are that it should not fc« far off, as there is still a good flow of water. A quartz leader has been passed through varying in size from 2in to 6in. OLD HAURAKI. At the Old Hauraki mine, Coromandel, 400 ft level, the seaward face is in 566 ft. The reef formation is np to 3ft wide, and colours of gold were seen in the hangingwall portion. Stoping (No. 1 block): Two stopes are in progress. The reef is up to 12in wide, carrying ■ good mineral indications. No. 2 block: Three stopes are in progress; colours of gold continue to be seen. Stoping (No. 2 block): Three stopes are in progress 101b of picked stone has been obtained. TALISMAN. A report on the operations at the Talisman mine, Karangahake, for the quarter ended August 31, states that the profit for the quarter was £34,415 3s 9d. THAMES DEEP LEVELS. At the Thames Deep Levels the main crosscut has been extended a further distance of 74ft. A heavy flow of water was met with last week. Tho country for the past 40ft has been of a looso nature owing to the amount of water in it. The contractors for driving the subsidiary crosscut have made very slow progress. "Die drive is now in 208 ft. ;: : NOTES. A report from the New Success mine, Coromandel, states that the ground being passed through is hard, but very favourable for gold. The leader is improving in size, and stronger quartz is making in the face. Tho manager of the Hauraki Reefs mine, Coromandel, reports that No. 4 reef at tho 400 ft level will average about 12in in width, of quartz of a kindly character for carrying gold, and a few colours of gold have been seen in the quartz broken. The Hauraki North reef will average about lOin, and strong dabs and colours of gold have been Been in the quartz. Tho manager of the Saxon mine, Thames, reports that the subsidiary crosscut 1000 ft level is now in 208 ft off the main crosscut, and is passing through a most favourable class of country rock with a good flow of water still issuing through it. In the drive east the reef formation is fully 2ft wide, showing large quantities of splendid minerals but no gold. > A report from the Mount Welcome mine, Coromandel, states that the low level has been put in 648 ft. Tho Mount Welcome reef, which for some distance only showed indications of quartz, has again been met with, and the stone recently broken down is of a very good description. The manager of tho Golden Belt mine, "Neavesville, reports that at the low level, No. 2 rise, is now in 10ft. The reef lcoks well, and the ore is nicely mineralised. Five shipments of concentrates have been forwarded to London by the Monowai Company, the total estimated value of the shipments being £4790 4s 7d. The returns remitted to the company total £3500. - At the Pride of Tokatea mine, Coromandel, nothing of a payable nature has been met with. Some prospecting work is in hand east of the present workings and as a result a lead was picked up giving good dish prospects, and showing gold in the stone. A start will be made forthwith to open out on it. •