MINING.

Otago Daily Times, Issue 11452, 17 June 1899, Page 5

MINING.

• NOTES FEOM. LYELL. (Prom Oub Q-wfl Correspondent:)

~ ~\..; . -~.., : . LYELL, June 16. , Alimic-^-The ..Manager . reports:—ln the stopes at the back of JTo. 9 level a small quantity of stone has been won, buf the last' of the stono from here will) be: sent to the battery to-morrow. . Thera;.is no change in the stopes above No, 10 level; the.width of the .reef being from 3ffc to 14ft, and intermixed with horses of mullock where largest. The stone continues of fair quality-. The uprise from the level has broken into tho north end'of the leading stopes. Stoping above No. 11 level has been continued, the 'reef still ranging from 3ft tO, Sft in width.-The ujrise in the north end mi el 1S now UP for a height of "sftlhe reef is between 2!t and 3ft wide, very ha.rd' and clean/and also shows fair gold. The quantity of stone sent' to'-the' battery' is 250' tons ,-Uie scraping of top ;plates yielded 3230z amalgam from 430 ions*.'- - •

THE GOLDEN TREASURE No. 2 DEED GINGT COMPANY (LIMITED).... The first statutory..general meeting of shareholders was held-in; the Dunedin Stock Exchange Room on Tuesday, last, and was attended by 22 shareholders. Letters of-apology for non-attendance wereread from Messrs W.M Shore,and J. C. Marshall.. Mr Edward Withers w S TTV°^ d to the •^air. and stated that Mr V>. ti. Uitten, the engineer, had just returned from the claim, and had. sent in a satisfactory" report. Tho following gentlemen were appointed the.permanent .directors:— Messrs Edward Withers,- C G. V. Leijon, Thomas Rodger, Robert Coekburn, and P. Laffey. Mr James Brown, accountant, was elected auditor o, the company: : The" report of Mr ,W." H. Cut- - ten. stated that,:in" company with" Messrs' P Laffey and ' James 'Durwood,- he 'made an'W ammstion pf the claim. He had been. informed ! ..that there, .was a reef .of rocks runiiing ; --along the edge of the claim, which would preventihe dredge .working from the-river into the claim. He haft made a careful inspection, and found there was nothing to .indicate that there,was a continuous Teef. The opinion he had formed was that the rocks ,pn the 'beach were isolated; pieces of similar rocks to those standing out of tne water in., the river.- The appearance of the ground certainly leads to the- belief generally _ expressed- by those in they.district, that the river at some time passed through the cornpan}; s claim, entering it at the upner end and joining.; the present river bed immediately below it. ; The.ground some 14 chains back is 10ft lower than the bank at the river edge. It was at -this point that'Mr Laffey- sank a prospectmg shaft 32ft deep, and aid not get bottom although he was some Gft lower than the present nver bed. " This," Mr Cutten continued shows that the bottom- does, not\tise at this distance into the bank. The old workings 'clearly, indicated a lead-of gold running from the west bank across the river into the -upper end of your claim,- while the workings have been very extensive. . There has been little or no gold dredged .from the river opposite your claim, but immediately below it the''Golden Treasure hap obtained very good gold in the river and, running into the'bank. From this pomfc downwards for a distance: of Eome miles the river has ,been very rich in goia. This all tends to show that a.former channel of the river passed through/tlie'.centre of your claim, and that the lead of gold is likely to be found running through it.1 I found Mr R. Kittb working' upon Golden Treasure No. 2 Company's claim, fully under the impression that it was his own extended claim.- This was immediately below ..the lower boundary of the Ettrick Dredging Company's; claim,jandheyis.apparently getting payable gold. I would; recommend your company to purchase, if possible, the small tfiangu-' lar piece 'of beach, about -1 'acre in extent at' lower end-.of the Ettrick Dredging Company's claim. If this piece of ground was secured, you could then; dredge for some considerable time at the upper end-of the claim on proved ground and without :theluse of a- very long elevator which Will be necessary, when working the back" portions of the claim. ~- ; ■

A PEGGING-OUT BUSH. Our special co'inniissioner, now at Ettrick' aclvisesus that there was- great' excitement at; aenger L on Thursday.,night, -when -the BenW Creek was pegged off by lantern and candlef miSeveral dredging:claims were marked; otf. lhe excitement lasted the greater part of the night. .!•*.:'..■■

The hartley and Eiley Beach Dredging Company (Limited) washed,up yesterday for a return of 1230z of gold for three days' dredgin^ Ihe directors of the Magnetic Dredging Company have declared a dividend of 10s per share Iliis means that,the dredge since she started (about1 four months ago) lias paid off a'debt of Sns f °°O n >nd\i> aid dividends amounting to £4Sm-&M0 in all, besides all expenses. W dividend declared last- month was 2s per share-J-lie directors^ of >the Success Dredging Company have declared-a dividend of 3s per share which is a record-for a Waipori dredge ' _Mr Edward Trythall,: the broker "for the Metallic Gold. Dredging Company (Limited) intorms us that the company is floated, the shares having been over-subscribed. ' ; Port Cha.!niers is getting a share of the »ocd things going in connection with the dred°in<* industry. The well-known firm of Morgan and Cabie.nave several orders on hand. They have .Hist completed a contract for fitting up a dredge in Sydney, this being the second order they have executed for that colony.