MINING NEWS.

New Zealand Herald, Volume XLIX, Issue 15069, 12 August 1912, Page 5

MINING NEWS.

MAY QUEEN. At No. 10 level, 1000 ft, in the May Queen mine, Thames, driving on the reel' from the Bright Smile, crossmt in a westerly direction has been in progress, and a distance of 59ft lias now been driven. The reef is a nice-locking body of quartz and lias now opened out to a width of about 3ft, carrying very favourable minerals. Stoping on the Exchange reef has been carried on and the quartz broken during tho week has shown more gold. A pound or so of picked stone lias also been selected.

DREDGING RETURNS. I I [BT. TELEGRAPH.—I'RESS ASSOCIATION.] I DuNEniN, Sunday. Dredging returns: No. 909 dredge, 90oz; Sandy Point, 450z 17dwt; Golden Bed,' 31oz lldwt; Olrig. 9oz 3d\vt 12gr. KANIERI MINING COMPANY. EXCEPTION ALLY HIGH GROUND. AN OUNCE TO THE LOAD. [PUBLISHED BY ARRANGEMENT.] The Kanieri Mining Company, recently formed to work what is exceptionally rich ground at Kauiori, has acquired the Humphreys Gully Mining Companv's waterTare, the price being £10,000. Thus waterright, which comprises 100 heads, cost, the original owners £100,000. and the purchasers arc now in a, position to treat auriferous ground which has hit tier! been unworked for the reason that no water has previously been available to treat it. Tho company is regarded as having a, very bright future before it, as. besides this exceptional asset, the operations of tho Government Keystone borer, under the control of Mr. Scale, have resulted in a thorough test of an exceedingly wide area which has all proved to be exceptionally rich, as high as loz to tho load being obtained. In fact, it may be remarked that Mr. Scale has stated ib to be the richest ground ho ha.i yet prospected. " A noteworthy fact in connection with tho proposition is that more than half the total capital required (£30.000) was subscribed before, any prospectus was issued. The flotation of the company is solely in the hands of Mr. A. A. Lee, engineer, who knows tho property intimately. Mr. Lee has been in communication with outside capitalists, who have expressed a wish to take over the whole property, but it is understood that the intention, is to scatter the shares "throughout New Zealand, this course being preferable to such an excellent proposition being owned by a few wealthy persons. With this object in view, Mr. Lee intends visiting this, town in the near future. Those desirous of obtaining further information are advised to communicate with Mr. Lee, at Hokitika.