MINING NEWS.

New Zealand Herald, Volume LX, Issue 18348, 14 March 1923, Page 7

MINING NEWS.

WAIHI GRAND JUNCTION.

DETAILS OF RETURN. The Waihi Grand Junction Gold Company during the period dating from tho restarting of the mill to February 24, crushed 12.070 tons for a return of 25260z. of gold and 8-1990z of silver. In addition, owing to the resumption of milling, some £4000 is retained in solution in the mill.

MAJESTIC GOLDMINING COMPANY.

MEETING OF SHAREHOLDER. The Majestic Goldmining Company. Ltd., .held its first statutory meeting yesterday. Mr. H. B. Mackenzie presided. It was stated that the company wt3 working a reef at Marototo, near Hikutaia, which had been worked in sections by different companies for the past 30 years. A length of 1641 ft. had been driven in the low level tunnel on the reef, which could be traced for 11 miles along the surface. Over two million tons of stone had been opened up, the present value being about £1 a ton. It was confidently expected that the working of this stone could be made a profitable undertaking, as the Horahora electric power was now only six miles distant, and improved methods of refining were available. Six men were employed, and the lowest level was now 550 ft. below the surface. The Government had promised. a subsidy for the diamond drilling of another 300 ft. deeper, but before this could be done a level of 1150 ft. had to be tunnelled north along the reef to daylight to obtain ventilation and water power. This level would be penetrating maiden country.

Mr. H. R. Mackenzie was appointed chairman of directors, Mr- P. N. Kingswell managing director, and Mr. R. G. Clark and Mr. _E. A. Craig direotors. A fifth director is to be elected.-

MINE MANAGERS' REPORTS. Rising Bun.— During the week wo gained 12ft. on the water, making a total depth of 84ft. from the collar of the shaft. Soundings show we are 14ft. 6in. from the bottom.