TALISMAN CONSOLIDATED.

New Zealand Herald, Volume LI, Issue 15603, 8 May 1914, Page 5

TALISMAN CONSOLIDATED.

LOCAL DIRECTORS' REPORT.

"NO FEARS FOR THE FUTURE."

iBV telegraph.—press association.]

Wkllivctos, Thursday. The following report of the local directors of tho Talisman mine has been forwarded to the London office:—"We have to report that Mr. Jackson and Dr. Knight visited tho mine, and have to state that they were well pleased with what they saw. Tho most pleasing feature was the witnessing of the Cornish pump in working order after so many vexatious delays. At the bottom of tho WoodstocK shaft we found a great deal of water coming out from tho face, and one of the holes showed a quartz seam at the end of it. This is probably the first appearance of the Maria reef. Going back to tho Bonanza section wo went down the 12th winze, which is now down 131 ft from the random of the 12th level. We found a good deal of water flowing from the south and from the western wall. Tho reef formation at this point is wider than tho winze, and has every appearance of good ore, but does not carry values. The surrounding country is cood, and is not different from that which surrounded the winzo on the first' 110 ft, which carried the very highest values yet obtained in the mine. "It may to well at this point to give shortly, the history of tho shoot of ore as disclosed by this winze. Above the No. 11 level, 50ft below No. 10, the reef was poor, and it was not until 50ft was reached that the values came in, and gradually increased up- to £4 a ton. No loss than three barren zones are found in this winze. Below the No. 11 level, for the first 50ft, the reef is payable, from 50ft to 110 ft the reef becomes small, and the ore value is low grade in character. At 110 ft to 180 ft the reef becomes sft wide approximately, and carries high grade ore. Below' No. 12 level, from nothing to 80ft, the reef shows good payable ore, and the formation is 4ft wide. At 80ft values go out, and the reef becomes narrow and continues until 140 ft deep, when high 'grade ore is found, and tho width becomes" sft. This condition is found until the 13th level is reached, and for 35ft deeper payable values remain. From 35ft to 60ft the reef formation be- i comes very narrow, and the quality of the ore is low'grade. From 60ft to 150 ft high grade oro is obtained, and the reef for- j mation increases in size to 7ft at the 14th I level. From ■ the random of the 14th level to 110 ft the oro is high grade, up to £20 in value being got. From 110 ft to 131 ft, low grade ore is found, and about sft of the reef is exposed. As regards tho workings, which are, at this point, on the foot-wall of the reef, there appears no reason why values should not be obtained at depth. This is tho view of Mr. Stansfield. One cannot, having in view the previous history of the mine, expect the very high values recently obtained to bo continuous for ever, and shareholders are not reasonable if they are disappointed at the appearance of another barren zone. "We did not go down to the 6th winze, which is 40ft down, lecausc it is full of water at the bottom, but on looking through the assay plan of the mine we see again that values found on the 13th level went out in less than 30ft of rise abovo that level. Between Nos. 13 and 14 levels there were no blanks, and values were obtained varying from £5 to £20. Up to date these values aro maintained, and tho formation is 6ft wide. Further development at this point should prove interesting. .. No. 14 winze contained no values from the 13th to 14th levels. No. 19 winze, on tho floor of No. 14 level, is now down 51ft. For 30ft of this distance there aro good values, and then a barren zone occurs, but values are apparently coming in again at the bottom. This winzo is at present stopped on account of water. Tho •No. 17 winze is the most southern in the mine, and is down 60ft, and carries good values except that the bottom values are slightly lower than above. Abovo tho level, so far as the reef has been risen on, good values are obtained, £11 ore and a formation from 2ift to 3ft. A few more months' work will enallo us to find out the value of tho Woodstock end of .our property. Wo have ascertained from Mr. Stansfield that for the next six months ho expects to obtain the same average returns as for the last six months' working time. Wo may expect the Maria, the Shepherd, the Woodstock, Conies, and the Karangahake reefs to be found in our Woodstock and northern ground, and if they prove to be ore-bearing this will practically result in our having a new mine. Then the question of the erection of a modern (rushing and treatment plant will have to bo faced. On the whole the prospects of the Bonanza and Pnbbo sections of the mine appear as good as they have been in the past, and we have not any fears for the future."