MINING NEWS.

New Zealand Herald, Volume XLIX, Issue 15166, 4 December 1912, Page 5

MINING NEWS.

TALISMAN DIVIDEND.

£25,875 PAYABLE TO-DAY. :

COLONIAL SHAREHOLDERS

RECEIVE £18,508.

The 32nd dividend of the Talisman" Consolidated Gold Mining Company, amounting to Is 6d per share, will be payable to-day on the 345,000 shares in the company. This will absorb £25,875, and will bring the total dividends and bonuses paid by the company since reconstruction to £715,359 7s Gd.

The dividend was temporarily reduced from Is 9d to Is 6d on account of the recent efoppage of operations at the mine, due to tho lack of fuel supplies, caused through labour troubles. Of the amount being distributed to-day, colonial shareholders will receive £18,508 17s 6d, there being 1211 shareholders on the Dominion register, holding 246,785 shares. On September 4, when the last dividend amounting to Is 9d per share, was paid, there were 1212 shareholders on the colonial register, holding 247,477 shares, and they then received £21,654, or £3145 2s 6d more than, will be distributed to-day.

WAIOTAHI.

RETURN OF £186.

( During the past month tho Waiotahi Gold Mining Company crushed and treated 35 tons of ore for a return of 18oz 14dwt of molted gold. From an old retort 50oa 9dwt was also obtained, making a total of 690z 3dwt. Tho approximate value of tho return is £186.

Tho manager of tho mine reports that tho footwall of the main reef has been intersected in the drive on No. 7 level. The quartz is characteristic of the footwall portion of the main reef, always notable for its low grade. Four foet of the lode has been penetrated, but no gold has been seen. The manager considers it will be necessary to bear more to the loft to get at the hangiiigwall portion of the . reef, where better values may be expected. The drive is now in 107 ft from the main crosscut. The drive east on the new reef is in 34ft. Tho lode is 6in in width. Trials taken from the cross reef in this drive show low values.

NEW SYLVIA.

Tho manager of tho Now Sylvia mine, Thames, wired yesterday :—"At No. 2 level, at 164 ft, passed through a quartz formation 6ft wide."

Another wire was received late yesterday afternoon, stating :— Obtained 15 pounds of picked stone from stopes, No. 3 level."

SILVER STREAM

The prospects of the Silver Stream mine, Maratoto, have increased so much in value lately that the directors have decided to instal a rock drill plant, with the object of mofo rapid extraction of the ore. The- call at present running, states the secretary, will be sufficient to meet the expense of this, and to pay working expenses, and leave a balance for further development. Nothing further will be done on tho Queen reef until this plant is set up. The manager reports that a fine show of tellurides is still to bo seen in the face. For the week 7£cwt of clean ore has been secured from the No. 1, and 2cwt from the No. 2, Julia stopes. Eighty bags of ore are ready for shipment. •

DIXON'S CONSOLIDATED.'

The manager of Dixon's Consolidated mine, Thames, reports that the reef in the winze measures Ift to 18in wide. In breaking down, dabs and colours of gold were seen distributed through the ore. Tho country continues to bo nndesiU?, carrying mineral seams, which strike into the reef. The ore from the winze has been saved for treatment.

WAITANGI

Driving the intermediate level from the crosscut at Hie bottom of No. 2 winze cast in the Waitangi mine, Tararu, has commenced. Tho drive was started in the hangingwall portion of tho reef, and is in 6ft. The manager reports that the reef going oast shows strong dabs of gold and good mineral indications. In the Bangingwall of the west side of the reef nice dabs of free gold were seen. Tho manager considers that a good block of country going east has been struck.

MDNOWAI.

The manager of the Mbnowai mine, VVaiomo, report* that for the week ending November 28, 87 tons of ore was crushed, giving fair assay values. Ho reports that the crosscut at No. 2 level is now in 163 ft. The country is much tighter, interlaced with numerous quartz stringers. Tho stopes under No. 3 level are producing a fair tonnage of crushing dirt.

WATCHMAN.

The manager of the Watchman mine, Thames, reports as follows for tho past week Tho face of No. 1 rise, in the intermediate level, is now advanced 9ft, making a total of 49ft to date. The reef at this point measures about sft wide, the same being divided with a band of sandstone measuring about 12in_ wide, leaving 4ft of crushing dirt, which continues to show strong colours and dabs of coarse gold. At tho No. 5 rise, the reef, although somewhat smaller, shows zinc blende and sulphides, in which a few colours of gold have boon seen. Tho ore is being saved for treatment. Crushing is proceeding at the Waiotahi Company's battery.

NOTES.

The manager of tho Rising Sun mine, Karangahake, reports that the drivo on the reef in the- low level tunnel is now in 72ft. Tho country is of a favourable description. Tho ore coming to hand continues to yield good prospects of free gold by mortar test.

Preparations are in hand to open out the south fata at the intermediate level in the Golden Cross mine, Waitekauri. So far this face has not been prospected, but where it has been cut through has shown better values than the north face. The manager reports that the rise is up 58ft, in a full body of quartz, all of which is broken and sent to the battery. The open cut is producing payablo ore, and nice dabs of sulphides are occasionally seen.

The reef in No. 2 stope, in the Kuranui mine, Thames, has increased in size, and is heavily charged with mineral. Tho manager reports that No. 3 slope is in 22ft.

The north-east drive on the leader in the Bonanza mints Tararu, is now in 38ft from the main drive. The manager reports that the leader is small, and the country hard, but that a little water is coining out. of the face.