REEFTON MINING.

New Zealand Mail, Issue 914, 6 September 1889, Page 20

REEFTON MINING.

(FROM OUR OWN CORRESPONDENT.) Reefton, August 26. Sir Francis Drake.—The mine manager reports :—The winze on the south end has been sunk Bft, making the total north end there is 2ft of stone. In the south end there has just been the track of reef for the last 3ft of sinking. In the north end the winze sunk this week 4ft, total depth The size of reef 2ft 6in. Scotia.—The mine manager reports : Since my last the north main level has been driven 10ft. The full distance of driving north No. 1 winze is 205 ft up to date. The reef is much the same as in my last report, broken and intermixed with slate. The stone is small, but gold to be seen in it. There is also sft of driving done in the south level, the reef being 12 to 15 inches in width, and carrying fair gold. The reef continues much the same in width, and fair gold to be seen in the stone. There is now 125 tons of stone in the Company’s paddock. Resolution.—This ground is situated broadside on to the Inkerman and Reward, and is regarded as favourably situated in respect to recent developments in the Inkermau mine. The venture was placed in the market without a word of announcement at 6d per share this evening, and such was the rush of applications that the list was filled in less than twenty minutes, more than 15,000 shares being oversubscribed, and they immediately rose to Id or 2d premium. The crowd congregated round Mr Wise’s office during the time the floating was going on was the only intimation the public had of the matter. Of course the thing is only an outside show, but as it adjoins what are regarded as the best properties . in that locality, the circumstance was quite sufficient to attract applications, particularly in view of the fact that interests in all other specs in the neighbourhood are already five or six times the price at which this -was floated. The intention is to put on hands to prospect the surface at once, and should anything of value be found another channel for investment will be opened up. Nil Desperandum.—The mine manager reports :—The reef in the north drive is lookingvery well. Thereismoregoldshowing in the stone to-day than I have seen yet since we got the reef. The distance driven on stone is 31ft, and the width of the reef is Bft with 2ft 9in of mullock in the centre. The foot-wall splice is 2ft 4in wide and the hanging-wall splice 2ft llin broad. Splices show good gold and are all the way up the face. 25 tons of stone is in the paddock. Inkerman. —The mine manager reports I The south drive bottom level has been driven 9ft for the week, making the total distance driven from shaft 157 ft. During the week the stone pinched, but is now making again with fair gold in it. Re the slopes," 124 ft of stuping has been done for the week. The stopes are all lo'plring well, there being from Ift to 3ft of stone in the different faces opened. The main shaft has been sunk 14fb for the week, making the total depth 36ft, As to the new find on the Company’s south lease, have not got the solid stone for the week yet, hut do not think it can he far off 1 , as there is any quantity of loose stone knocking about, and large blocks, from lewt to 2cwt, carrying splendid gold,, and prospects as good as any I have ever got in the reef that is now being worked. The blocks appear to have come from a large body of stone, and do not appear to have travelled far. As to the battery, the returns for the week ending the 31sb are 71° oz amalgam from 50 tons stone. Keep-It-Dark, 3920 z from 180 tons stone ; Inglewood, 760 z from 60 tons stone ; Progiess, 3620 z for days’ work ; Globe, 3560 z from 190 tons stone. These returns are to the ending of the week 31st August. Quotations.—Darks, 26s 6d ; Inkerman, 28s ; Scotia, 16s ; Progress, 30s ; Nils, 9s ; Wealths, 6s ; South Dark, 4s 6d ; Pandora, Is 9d ; Inglewood, 2s ; Venus, 2s ; Big River, 3s 6d ; Drakes, 2s 8d ; Gallants, 3s 9d ; JETard-to-Find, 4s 3d ; Globes, 22s 6d ; Alpines, 19s; Lone Stars, 2s ; Reforms, 9d ; Justs, 2s 8d ;

Pierys, 10s 3d ; Welcome (old), 12s ; Rewards, 2s 9d ; All Nations, Is 9d ; Merrijigs, Is 4d ; Golden Lead, Is 6d ; 0.K., Is 9d ; Lyell Creek, Is ; Albions, Is.