MINING NEWS.

New Zealand Herald, Volume XLIX, Issue 15056, 27 July 1912, Page 5

MINING NEWS.

SAXON.

At a meeting of directors of the Saxon Gold Mining Company, held yesterday morning, it was decided to instruct the manager !:o sink a winze 30ft from No. 6 level, and to open out on the reef in both directions from tho bottom, two shifts to be employed. The above proposal practically embodies a .suggestion of the mine manager, which he submitted in a recent report. NORTH PRINCE OF WALES. In tho North Prince of Wales mine, Eagk-hurst, Victoria, work has been confined to the extension of Nos. 3 and 7 crosscuts. No. 3 west crosscut has been extended 9ft in hard country, the hardest ground yet seen in this drive, the total distance* of the drive from tho opening being now 170 ft. The beds of country are very irregular, showing a slight easterly dip. No. 7 crosscut was extended a further Bft, making a total of 163 ft. The country is hard, and (still shows a slightly easterly underlay. ROSS GOLDFIELDS. The feature of the sharemaf?iet yesterday was a fluctuation in Ross Goldfields shares. Opening with sales at 5s 6d, * drop on the preceding day's closing sale, shares were sold down to 5s 3d. A reaction set in, and shares went up to 5s Bd, a later sale being made at 5s 7d. The market closed with further buyers at 5s 7tl, and sellers at 5s Bd. Between 1000 and 2000 shares changed hands during the day. XL. By order of the warden of the Hauraki mining district, the mine and plant of the XL. Company at Matawai, Coromandel, were sold by auction yesterday morning by Mr. R. 0. Carr, Swanson-street. The only bid was £1, for which price the property was transferred to the buyer. OLD HAURAKI TRIBUTE. [BY TELEGRAPn.—OWN CORRESPONDENT.] Coromandei., Friday. Mr. Malcolm Flemings's tribute in the Old Hauraki Gold Mining Company's mine includes a block 300 ft north of the Union Beach shaft, 140 ft deep, by 50ft wide. On each side of the 80ft level after sinking a winze about 15ft, ho came on horizontal alluvial wash from Bin to Ift deep, and yielding good prospects of gold. A drive at this depth lias been put in from the winze a distance of 40ft going south. The prospects continued the whole distance, and the wash dirt taken out has been saved. Mr. Fleming is in hopes of picking up lateral gutters containing rich gold from the cap of tho Green Harp reef, which in former days gave good results. Ho also expects "to out several other gold-bearing leaders, which are known to exist in the block.

MINERAL RETURNS. The return furnished by the Under-Sec-retary for Mines, New South Wales, shows that the gold yield recorded for the State for the month" of June is 10,5680z crude, equal to 8&*19oz fine, valued at £37,461, as" compared with 15,7940z crude, equal to 13,2720z fine, valued at £56,376 for the same month in 1911. The yield for the first six months of this year amounts to 94,0370z crude, equal to 78,3080z fine, valued at £332,632, as compared with 105,3650z crude, equal to 88,5830z fine, valued at £376,274" for the same period in 1911, showing a decrease of 10,2750z fine and £43,642 m value.

The Victorian yield of gold for June was 40,10203 gross, or 37,0980z fine, valued at £157,585. Compared with the yield for June of laet year, a decrease of 39660z fine has occurred. The yield for the last six months was 245,9540z gross, or 228,1350z fine, valued at £968,408, which shows a decrease of 15,2200z fine compared with the quantity won during the corresponding period of last year. The Queensland gold yield for June amounted to 27,7890z fine, valued at £118,040, being a decrease of 62290z, valued at £26,459, as compared with the corresponding month of 1911. The yield for the six months ended Juno 30"was 170,3540z fine, valued at £723,617, showing a decrease of 14,2870z, valued at £60,688, compared with the corresponding period of last year.

DREDGING RETURNS.

[BY TELEGRAPH. —PRESS ASSOCIATION.]

Dcnedin, Friday.

The following dredging returns are to —Koputai, 41oz 2dwt; Karaunui, 30oz 12dwt; Waikaia, 6oz Idwt.