MINING NEWS.

New Zealand Herald, Volume LXIV, Issue 19604, 5 April 1927, Page 7

MINING NEWS.

MOANATA! ARI COMPANY. MORE CAPITAL ' WANTED. A proposal to increase'the capital of the Caledonia, Kuranui, Moanataiari, Consolidated Gold Mining Co., Ltd., to £37,500, by the creation (of 50,000 additional ordinary shares of 5s each, will come before a general meeting of shareholders on Thursday. The capital of the company consists o£ 10,000 shares of 5s each, fully paid, and 90,000 contributing shares, which are now paid up to 4s 9d, with a further aall of 2d due this month. NEW WAIOTAHI MINE. PARCEL OF PICKED*STONE. / • ' The manager of the New Waiotahi mine telegraphed yesterday that he had obtained 31b. of picked stone in the mine. MINE MANAGERS' REPORTS. New Waiotahi.—On the drive hillward on the Waiotahi-Cambria iseef another break formation 2ft. in width l , was passed through. The face is again in what appears to be solid country, though as yet there is no sign of the reef. From the drive on the fCotwall leader at the bed torn of the winze a leadirfg stope has been carried along for 6ft., and a few pieces of picked stone were selected from the quartz taken clown, all of which is being; saved for crushing. Mount Welcome.—The manager telegraphed yesterday that he had broken clown on Saturday lewt. of storie, showing strong gold still in the face. Golden Age.—The country incasing the reef is everything that could )be desired. The reef is heavily mineralised,! and-looks well, A start is to made this week to intersect the No. 1 reef running* from the Lucky Shot mine in this property. Lucky Shot.—No. 1 reef has opened out ■to 10ft. in width, and when, broken out showed strong dabs of gold in icentre of ireef. The reef in the hanging wiall of No. *2 reef has been broken out for (a distance of 10ft., and shows strong gold continuously. We selected 51b. of picjked stone for the week, some of which could be classed as specimens. Moanataiari.—On the hillward .drive the reef is wider than the drive, and is fairly well mineralised. The quartz is. carrying a, fair amount of zinc blende and colours of gold have begjj seen. . On. th«> seaward drive the reef formation is wid?r than the drive, and is more compact. Col 1 ours and dabs of gold have been seen at every washing, and good strong dabs have ieen seen in the face, soma of which could be called picked stone. Twenty-four trucks of quartz were washed during the week, 14 showing Strong dabs arid colours of gold,, and 11 showing good dabs and colours of gold.