MINING NEWS.

New Zealand Herald, Volume LI, Issue 15554, 11 March 1914, Page 7

MINING NEWS.

WAIHI. THE CORRECTED RETURNS. NO. 1. LEVEL DEVELOPMENT. AREA OF GOOD GRADE ORE. The quarterly circular issued by the Waini Coll .Mining Company, d ited January 30, is just to hand and it contains the corrected returns from the mine up 10 September 27,1913 In a table previously published the corrected returns were given up to August 2. 1913- For the period from August 3 to September 27 the actual realisation of the returns over those pre\iously cabled represents an increase of £1677, and brings the total value of the bullion won from the mine to date (corrected to September 27. 1913) to £10.430,971. The feature of the quarterly report is the reference made to the development work at the No. 2 level on the Martha. Surprise and other lodes which, the report states, had exposed a considerable amount of good grade ore. For some time past the monthly reports have shown that good values were being obtained as a result of development work in the No- 1 level. The latest monthly report, dated December 20, is to hand and reference is made to the development work in the N*o. 1 level as follows : —Surprise lode (north branch) : At 77ft west of No. 2 shaft, north-west crosscut, and 15ft north, there is a body of quartz sft wide, worth £3 lis 9d per ton". It was followed to 97ft west, where it pinches to 6in, and is worth £2 16s 6d per ton. The reef at 123 ft from the Martha lode in the Bell south-east crosscut, was driven on from 120 ft to 187 ft east of the crosscut. The width varied from Ift to oift, and the values were fair. Driving west of the crosscut was done to 10ft. The width is about 2ft and the value of average grade. MOUNT MORGAN MINE. By Telegraph— Association— Copyright. (Received March 10, 8.5 p.m.) Brisbane;, March 10. The Mount Morgan Company has declared a dividend of Is per share payable on April 1, absorbing £50,000.