GOLDMINING NEWS.

New Zealand Times, Volume LII, Issue 9320, 15 June 1891, Page 3

GOLDMINING NEWS.

OUK K3EPION REPORT.

(DY tELEORAPK.—OWN CORRESPONDENT.) Kekfton, June 14.

Quotations —Big Bivor, 10a to 20a ; Cum* berland, 12s 3d to 12a 9d ; Durham, la to la 2d • Happy Volley* Gd to 7d ; Hard to Find, 6d to 7a jLord Edward, 3i to3a 31 ; van, 2s 3d to 2a 9J ; No. 2 KocpitDark, 5a 31 to 5a fid ; 01 Polloi, 9d to lid : Bussell, la 3;1 to la 6d ; Bcotio, Is to la 3d ; Alpine, 17a lOd to 19a ; Wealth of Nations, 3a 3d to 3a 6d.

Buyers--Gallant, Gd ; Kapai, Gd ; Success, 7d 5 Triumph, 4d ; Alston, Gd j All Nation?, Is ; Golden Lead, 10a lOd ; Pan* dora, 4d ; Drake, la; Welcome (new), 2s 31.

Sellers —Argosy, 3 1 ; Fiery Cross, Go lOd ; Exchange, lOd ; Hercules, 2s lOd ; Dark, 16a 6d ; Prima Donna, fid ; Tyne,sd ; Wei. come (old), 3a. There is nothing new to report from the Big River district. In the Big Klver mine the stone in the new reef is about the same size, and the quality as canal, with six men sfcoping. The stone in the old reef is from 2ft to 3ft thick, and of average quality, Ihe Cumberland main level has been extended 245 ft on the lioo of reef. The reef in the main drive is about 3ft wide, and carrying very good gold. There is no change in the size or quality of the stone. In the eastern drive the reef in the slopes continues the same as usual. The excitement has cooled down a little, but good business is being done. Returns.—United Alpine, 5150 z amalgam from 351 tons ; Keep-it-Darb. GGoz amalgam from 70 tons; Cumberland, 2540 z amalgam from 141) tons ; Globe, 1570 z amalgam from 190 tons; No. 2 Keep it*Dark, 14Goz amalgam from 88 tons; Hercules, 2720 z amalgam from 73 tons ; Fiery Cross, 104 oz amalgam from 90 tons; United Italy (Lyell), BGoz retorted gold from 26 tons of loader stoao.

(PER PRESS ASSOCIATION,) Reeeton, June 14.

Big River and Progress resumed crushing late in the week, and are not cleaning, Tak« ing the whole of the returns for the week, although so far satisfactory, they are not up to the general average, either singly or col. lectivoly, with the exception of the Globe, which shows a slight improvement. The Hercules amalgam was retorted, resulting in 88oz lldwt of gold, averaging 25dwt per ton —a little more was expected. The Fiery Cross is far below the average, owing to all the atone coming from the south or poor end of the block. This will bo avoided next week by stone from north end being also kakeu out. The Alpine is looking fair for a big reef. The Big River resumed crushing on Thursday evening, after having effected repairs to the mill. Stone is plentiful and of excellent quality. Shares, which had reached 23s cam div, are easier now. Pro* greas has also resumed crushing, and will be regular after this. The Merrijigs District, including Cumberland, Golden Lead, and Merrijigs as a centre, with a great number of surrounding properties, has been the principal locality for operations, both in tbo mines and the market. The payable nature of the ground is extending weekly, and promises to become the mainstay of the Geld. Several now ventures are being launched with apparently fair prospects, but nevertheless caution is required. Now companies are being formed, and a considerable amount of prospecting Is going on, with fair results so far. The inclement weather has retarded the completion of the Golden Lead crashing plant, but It is expected to be finished in a week’s time.

~ The Cumberland Company have let a contract to tbe Foundry Company, Groymouth, for a fifteen-head mill for £1326. The Morrijigs Company have also purchased a crushing plant. This will assist the development of the district. Hitherto tbe Drake Battery has done service for tbe lot. The Gallant has started sinking on the surface outcrop on apparently payable stone. The outlook is highly satisfactory for this pert of tbe field, and it is probable that great results will turn up during next summer. All tbe ground is taken up in the immediate vicinity of tbe gold mines, but some remains open for Hummer trial between this and the Big River district. Towards the end of the week the market was lively with good business in low-priced stock, on which great advances took place. In one case a rise of from £5 to £59 took place in tbe price of a fall share in an unregistered licensed holding. Hokitika, June 14.

Last week’s work of the tributors at Craig’s Freehold, South Hokitika, yielded XOloz lOdwt 12gr, value £407 13s. Ten men were employed, making the value of the gold produced by each one far tbe week a little over £4O.

Dunedin, Jane 14. The Dunedin Gold Dredging Company obtained 360 z last week.