MINING NEWS.

New Zealand Herald, Volume LXI, Issue 18890, 12 December 1924, Page 9

MINING NEWS.

THE NONPAREIL COMPANY. I

OPERATIONS AND PROSPECTS.

The annual meeting of the Nonpareil Goldmining Company (no liability) was held yesterday. Mr. D. C. F:ra-ir, who presided said that owing to Incited capital, progress had been slow. Conditions met with, however, gave the directors every reason to face the future with con*, fidence.

These remarks were supported by Mr. J. T. Hewson who detailed recent workings and developments. The directors' report stated a visit had been paid to the mine, and that prospects were most encouraging. Two of the directors put in a month's work at the mine in order to relieve the company of as much expense as possible. The sinking of a winze had been considered necessary. The work was naturally a slow process, and it was to bo regretted that more labour could not bo employed. All work had been carried on in tho most economical manner possible. In view of anticipated future developments, an additional five acres adjoining the property wero acquired. In his report the managing director, Mr. G. Crocker, also expressed the opinion thai prospects wero of a highlyencouraging uaturo and although no gold had been seen, indications wero such as to warrant gold being won at any time. The aspect and general characteristics of the ore body wero very similar to where heavy patches of gold had been won in adjoining properties. Driving in an easterly direction on tho Waiotahi-Cambria lode wa3 continued, and no walls showed in tho drive. This indicated tho ore body at that level was of considerable width. As a result of the directors' visit it was decided to prosecute operations underfoot to tost the value of the reef on its downward course. A distance of 18ft. had been sunk. As depth was attained tho lode appeared to converge, or become compact, while the prospects led to the belief that an improvement in value of the ore would take place as sinking proceeded. The retiring directors, Messrs. G. Crocker and G. 0. Barber, were ro-elected, as were tho auditors, Messrs. Hutchison, Elliffe and Cameron.

A vote of thanks was passed to the two directors, Messrs. Barber and Hew. son, who spent a month at the mine. A vote of thanks was also accorded Mr. Crocker.