MINING.

Otago Daily Times, Issue 12801, 23 October 1903, Page 6

MINING.

Tho manager of the Island Block sluicing claim reports a icturu o£ 6Soz Mdwt from the' elevator boxes. Tho Electric No. 1 dredge worked ahead a distance of 17ft la3t lveolt, the width of tho cut- being 50ft and the depth of tho ground varying up to 35ft._ The gold won. was of a fine, dark, and weighty nature, and a firstclass sample was obtained in tho ground on tho Bumockburn side of tho claim, where some very nice-looking wash was making. Tho ground in tho centre of tho river had improved, and tho gold was a little coarser, but it was impossibio to giro any idea of the width of the run of gold. Operations were suspended on Friday at midnight owing to tho liso in tho river. Operations were resumed on Sunday at midnight, but owing to tho drift it was impossible to bottom', and work had to be again stopped <m Tuesday. Whilo the dredge is idlo the new sections of the screen aro being pat in position. Tie No. 2 dredge has been steadily undergoing repairs during tho post week. A■ start was made on Hondiay to shift the-dredgo up-stream to where operations -were to bo resumed, and it .wss expected that this

would have been accomplished, tho repairs finished, and the dredge again, working by yesterday turning. The Sandy Point dredge is about to be fitted, with a silt elevator, which picks up the silt from a settling tank at the stem of the dredge and delivers it into tho main elevator buckets. Stacking the silt with tho rest of the tailings will thus prevent the slips which are caused by tho silt settling down nltor the stones luu-o been stacked 011 top, besides preventing tho silt working back into the cat. It is considered that these advantages will result in the dredge being belter ablo to clean up tho bottom, with a corresponding improvement in the returns. Tho consulting engineer (Mr Payac-) hns tho work in hand, and there will be 110 dolav in having it erected at tho earliest opportunity. ' The ckedgemaster reports for the week ending October 17 that the width of tho cut remains the samo as dnring tho previous week. The gronud was slightly deeper, averaging about UOft; ivhiie the distance worked ahead was Oft. The prospects re-mained-about the same, and the silt v.as still canaing considerablo trouble. The dredgemaster of the Three-mile Greenstono Crook dredge reports for the week end'ing October 17: —" Dredging was carried on at tho,south sido of the face tnis week; ground is about the same, but the boulders are numerous and large. The creek was up too high to bottom the deep ground, otherwise tho return would havo been better. Another section of the Teromakau bridge got washed away on Saturday, which will make it moro awkward to get coal. We have over a week's supply oil hand.'

Tho statement made iu yesterday's issue to the effect that a company had been formed for tho purpose of further testing the Victory claim was incorrcct, as tho neccssary arrangements aro only now in progress for tho formation of tho company. Tho option over the dredge and claim has been secured, and very favourable terms have been offered, which, if the shares aro taken up, will give the company every chance of having a successful career. A number of shareholders in the late Victory Company havo still a good deal of failli in the claim, V.'hich they think will yet produce good returns under favourable circumstances. Shares may bo booked on application being made to Messrs Mitchell and Leslie or Messrs William Brown and Co,

DUNEDIN STOCK EXCHANGE. Another fall was noliceable in the river yesterday, the height being Bft, Jin abovo the normal marl;. The Stock Exchange was again very quiet, buyers iu tile majority of cases showing a, disinclination, to meet sellers. Hartley and Rileys, however, recovered from the recent decline, and the stock was in demand at a pricc that showed a dccidcd odvanco on the rates at which sales were effected during tho previous cby. At the morning call a sale v;as made at £1 12s Gd, and in the afternoon a parcel changed hands at £!> 153, while buyers offered tho latter pricc for another supply, but sellers closed at £3 17s. Inch Valley shares were in. demand, and three rales were effected, two parcels changing hands at 5s Gd and on» at 5s 2d, there being further buyers at tho latter price, with 110 response from sellers. Alpine So. 2 shares were again inquired tor, but nojio wcro placed 011 t'ho market. Bignell's No Towns were quiet, though Blackwater Rivers wero in demand. Dunstan Leads eased to a slight extent, though Golden Runs, Golden Treasures, and Golden Uniteds were steady, llanuherikias and Molvncux Hydraulics wero in demand; while Jiolyneux Koliinoors were firm. Nelson Creeks wcro steady, and a narrow margin separated buyers and sellers. No Town Creeks and No Town No. 2 shares wero firm, though Oceanic Steams eased to a' slight extent. Rise and Shines showed a hardening tendency, while Rising Suus wero in demand. An inquiry wa3 made for Stafford Waimcas, but a fairly wide margin separated buyers and sellers. Investment stocks did not command a great deal of attention, and no business waa transacted. Buyers were ill evidence for Bank of Npw Zealand shares, though a fairly wide margin separated their offer from the price at which sellers were prepared to dispose, of tho stock. Wostport Coals, Mosgicl Woollens, and Ivew Zealand Drugs were the only other stocks inquired for. Sales were made yesterday at the following prices:—Hartley and Riley, 72s Gd and 755; Inch Valley, 5s 3d and 5s Gd. _ Tho following are yesterday's latest quotations, subject to the usual brokerage;— 7s Gd. Alpine No. 2—Buyers 15s. Bigncll's No Town—Sellers 13s 9d. Blackwater River (contributing)—Bnvers 2s 9d p. Central Charlton—Buyers Gs, sellers 9s. Charlton Creek—Sellers 7s 6:1. Dunsian Lead—Buyers lis, sellers 12s Gd. Enterprise—Sellers £1 3s Gd, Ettrick—Sellers 63 Gd. Golden Run—Buyers 10s G3, sellers £1 2s Gd. Golden Treasure—Buyers £1 6s. Golden United—Buyers 7s. Hartley and Riley—Buyers i3lss, sellers £3 17s. llanuherikia—Buyers J!i 7s Gd. Molyneui: Hydraulic—Buyers ss. Molyncux Kohincor (paid)— Sellers Bs. Nelson Creek—Buyers £2, sellers £2 0s Gd. New Fnirdown (preference)— Buyers £1 Is. Now Halfway House—Buvers ss, sellers 7s 9d, No Town Creek—Buyers £1 5s Gd, sellers £1 6s. No Town No. 2—Buyers Gs 3d. Oceanic Stsam—Buyers 5s 9d, sellers Gs 3d. Rise and Shine—Buyers £1 7s Gd. Rising Sun—Buyers 19s, sellers £1. Sandy Point—Sellers £1 ss. Ross Day Dawn—Buyers 7s Gd, sellers 9s Gd. Stafford Waimca—Buyers Bs, sellers las. ITikiko. Deep Stream—Sellers 6s 9:1. Big River—Buyers 3s Gd, sellers 5s Cel. INVESTMENT STOCKS. Bank of New Zealand—Buvers £3 15s, sellers £■?• National Insurance—Buyers £1 Is, sellers £1 Is Cd. Wcstport Coal—Buyers £6 14s, sellers £6 IGs. Mosgiol 'Woollen—Buyers £4 Is, sellers £1 3s Gd. New Zealand Drug (£2 paid)— Buyers £2 Ss Gd, sellers £2 9s Gd.

WAIKAIA GOLD Dlt-EDGING COMPANY. Another company, called the Waikaia Gold Dredging Company, has been formed lot the purpose of working an area in thc.Waikaia district, and tho shares were allotted on Tuesday. Tho claim consists of about 100 acres, and_ is situated on the Waihair„ llivcr, about half a mile below the "New Fnirdovm Company's claim. The dredge formerly owned by. the Great Lead Company, on tho West Coast, has been secured, and arrangements have been made whereby she will be shifted to Waikaia for the sum of £1500 in cash and £800 in fully paid-up shares of £1 each. The dredge is to be put in goed working order, as at present, and new pontoons arc to be provided. The capital of the company is £3500 in shares of £1 each, of which 750 are to be allotted to the vendor in payment for the claim and 1000 are to be given to Messrs Kncwstubb Bros., from whom the dredge was secured. The remainder of the shares, 1750, were over-subscribed, so that the company is in a good position.'there being a fair margin for expenses until the claim io opened out. The dredge is a machinc of modern typo, and is fitted with screen, elevator, buckets of 4:} cubic feet capacity, 10 horsepower engine, and -0 horBC-powor boiler. The gearing is all made of steel, and the contract includes all ropes, boats, and furnishings. The report on the boring' operations is as follows:—

"Bore No. 1: 35 yards from river and 50 yards from the north boundary. In lliis bore 4ft of fino river gravel to water level, and continued on to 7/t irom surface wliere wash was cut, and a little gold v.-rs obtained in drillings. At IGft from surface wash improved and continued on to bottom 23!t. fiom surface. Bottom was composed of wcll-dcfincd j'eddish clay, intermixed with fine gravel. Bore No. 2: 180 yards west of bore No. 1 from surface to water level sft. First drilling in this bore fine river gravel or drift. At 19ft from surface wash was cut. Good gold was obtained oh to bottom 27ft Irom surface, six inches of clay over-lying maori or gravel deposit. Bore No. 3 : 250 yards south-cast, 30 yards from eastern boundary of area, and close to terrr.ee. The object in putting this bore down was to find out if the rich run of gold on terrace had broken through on to tlio flat. Bottom was struck at 23ft from surface, ground poor; a lev/ colours on bottom. Bore -\"o. 4: 130 yards west from bore No. 3. From surface to water level 4ft. 11l this boro 10ft. of river gravel was drilled through, when wash was met. Good gold was obtained in every pumping to bottom; depth 24ft. The gold in this bore is finer than was got in bores Jfos. 1 and 2. Maori bottom in this 'bore. Bore No. 5: 115 yards west of boro No. 1 Was put down fo find out the width of payable wash on tho flat. This bore Was close to river, one foot above water level. At 17ft from surface wash was cut, and fair gold was obtained: to bottom; depth 25ft. "Well defined reddish cloy and maori mixed constituted bottom in this bore. Boro No. 0; 300 yards down stream, and close to river. The material drilled through this bore was fine river drift. At 23ft from surface wash was struck, carrying fine gold. Bottom was struck at 25ft from water level. Bore No. 7: ,150 yards west from boro No. G. This boro was drilled through fino silt gravel to the depth of 18ft from surface, The surfaco is 4ft alwvo water level. At 18ft wash was cut, and golctl was obtained in each pumping through wash on to 'bottom; depth 25ft." A report furnished by Mr Alex.Sligo says:— " No. 7 bore in Hieger's freehold; was put down right adjoining your top boundary, and Bhould be acceptod as a fair value of that portion of your claim. No. 3 bore in your claim wan put down for tho purpose of proving whether the rich lead of gold that was worked on the terrace above your ground broko through that way into the flat, but tho river lead does not extend out that far, and X discovered a. high reef separated tho terrace lead from the river lead. The former will probably break into your ground lower down. I have no hesitation in recommending you to put a dredge on fho ground, a3 I consider tho claim equal to anything in the district. I might state that the ground oficrs every facility for rapid drodging, which can bo oarried on all tho year round. Tho depth of grounci from surface to bottom will average 21ft, and from ivatcr level to I liottom 20ft; average depth of wash, 7ft j

bottom well defined; clay or soft niaori easily cleaned; 16ft or 17ft of light ovcrburdeii overlying the wash. This overburden is light, free gravel or drift; easy dredging. The wash is compact, but easily disintegrated, and contains no large stones, and consequently the wear and tear on tho machinery will be lignt. Coal from tho local pit on tho boundary of the claim can bo delivered on board for Us per ton." The results from tho bores were:—No. 1, 4.73gr per yard; No. 2, 24gr per yard; No. 1, 12.67gr per yard; No. 5, Jf.o9 gr per yard; No. G, 2.oDgr per yard; No. 7, 0.50gr per yard; No. 7n, B.3Sgr per yard; average, 9.21gr per yard. Immediate steps will be taken to dismantle the dredge and remove her to the company 8 cloiui and it is anticipated that everything will bo ready for the commencement of operations iu between four and five months. NOTES FROSI CROIfWELL. (Fnost Our. Owj: ConiiEsroscssT.) CROMWELL, October 22. Tho weather is fino and the river is falling steadilv, but not 113 fast as was expected. The Riley's Beach Company's dredgemaster intended starting dredging fo-day. The ground is not deep. Tho Hartley and Riley dredge will likely get a start again next week. The Junction Electric No. 2 dredge has pulled np about 100 yards from the junction of the two rivers, and will work into the bank on the Cornish side, where it is believed some good returns will be got.

THE WEST COAST. (Fboh Our Owk Comiespoxdext.) GREYMOUTH, October 22. Tho Mawhera (lately the Grey River) Company is likely to have somo trouble with the Government and local bodies. Last week, prior to a couple of days' rain, dredging iu the Grey River, in the southern bank, etuis::! a high bank of silt deposit, forming a. paddock between (he nia-iu road and the railway. A rise in the river cansrd a strong flow to set in at thr.t particular point, carrying away a considerable area of ground and endangering tho railway. The Grey River being a- slfadgc channel and the company having a lease of this portion of the river, thev are within their rights in continuing dredging. The Borough of Brimner telegraphed to the Government about the matter, and Mr Richards, of the Mines Department, reported on the subject, but so far 110 settlernent has been arrive] at. The Brumicr Borough desires the Government to issue an injunction to compel the company to stop dredging, but it is doubtful if this can be done. In the meantime dredging continues, the company getting about 2ooz per week. The damage at present could bo repaired for £500, but if another flood comes before some protective works are put in the railway, as well as the road, might slip away. This would involve an expenditure 0! some thousands.

The Welcome dredge got a return of 21or. for 12(i hours. Work has been slopped on the Saltwater dredge. Great things were expected from this dredge, but from what I can learn the plant is not suitable to work the heavy, rich sand. The Prince of Wales return for the wash-up last week was Moz 1-ldwt for 120 hours. The dredge is at present working in a very hard face, and when this is disposed of the returns will greatly improve. Tho Ross Day Dawn dredge started work oil Tuesday afternoon, and the machinery has been running since without a hitch." The dredge work at the extreme lop of the claim, and will dredge the whole extent of the present location. "When this is comulct?d she will cut her way through tho wall and work towards Donnelly Creek, where the greater portion of the claim is siluatcd.