MINING.

Otago Daily Times, Issue 13855, 19 March 1907, Page 6

MINING.

Tho masier of the Electric Company's ICO. 1 dredge wires having resumed dredging nt midnight on Sunday. ■ The height of the river ■yesterday morning was lift Sin above the normal mark at Alexandra, showing a fall of over Ift since Satnrd.ay. The. weather was reported to bo mild. There was no wash-up on the Blackwaier River dredge last week. The dredge was stopped to permit ol tho screen rollers and elevator tumbler being repaired. The secretary of the Kelson Creek Company reports a return of 17oz for 132 hours' work. The master of tho Lady Annie dredge reports that operations were resumed at 0 o'clock on Friday. . Tho secretary of llic Kltrlcl: Company wires a return of lOoz for IK) hems' work. Tho master of tho Alexandra Eureka dredge reports having washed up for a return of 370z lOtUvl. During the week ended Holiday. March 18, returns were reported from 27 dredges in Otngo and Southland, making a total of 710oz IGilwt, 12gr, or an average of 2Goz per dredge. Tho local director of the Crift'el Lead Sluicing Company wired on Saturday that the manager was engaged clearing away the surface stones, so as to get on to the lead. . Prospects were very satisfactory, and it is anticipated that the manager will wash up on tho 30th fast. Tho high river' conditions are very suitable to the New Perseverance- No. 2 dredge, but there was no wash-up last week owing to slight repairs and to boiler inspection. The jNo. ] is unable to touch bottom; the time, thorcfore, is being spent in renewing some of the back tumbler bushes. Two samples of scheelite recently forwarded to tho Government analyst from tho Lammermoor Kango, in the watershed of the Deep Stream, Central Otago, gave a percentage of 57.80 and 50.32 per cent, of tungsten, equivalent to 73 and 74.60 for cent, of tuegslic acid. The scheelite contained in the samples gave the high percentage of 90.52 and 92.73 "per cent. Says the New Zealand Mines Becord:—"An offer of a diamond drill, stated to be capable of boring to a depth of 4000 ft. has been received from a firm of contractors in Perth. The drill was manufactured by the Atlas Company of Engineers, Melbourne, and the price, asked (£000) is said ici bo considerably below its value. The offer has been declined, as four diamond drills have been already purchased by the department." Tho muster of the Rising Sim dredge reports for the week ended March 16 that he dredged for 129 hours, and worked ahead 20ft on the eastern half of the paddock. The liver was very high, and considerably affected the return, as the drift wns very had in the river corner of the cut, which 'had to be narrowed 10ft. Iteturns will be only fair until the river admits of the whole face.'being worked. The sandy clay bottom stilt con° linncs.

BUXEDIX STOCK EXCHANGE. Yesterday's market was not characterised liy anything that calls for comment. But one sale was effected, and in the case of a good many stocks placed on offer buyers were not in evidence. The stock to provide the snle was Talisman Consolidated the price being 33s Gd, which discloses a slight hardening on rates prevailing on Saturday., Golden linns were distinctly firmer in tone, buyers quoting at 3s Gd and sellers' at •Is, and for this the slight improvement, in last week's return is probably responsible. Golden Gates were available at 255, but excitcd_ no buying attention. Holders of Bank of Xew Zealand scrip were in evidence at i! 10 7s Gd, but buyers were absent. A sale was made yesterday in Talisman Consolidates at 32s Gd. The. following are yesterday's latest quotations, subject to the usual brokerage: — UncnGiNTr Stocks. _ Bignell's Xo Town—Buyers 2s Gd, sellers Central Chartion—Buyers Ts Cd. sellers Ss Chicago—Sellers fls Od. Duustan Lead—Buyers Is 9d, sellers 2s Gd. Enterprise—Sellers -Is Cd. Ettrick-Sollers 4*. Golden Bed-Sellers 7s (id. Golden Gate—Sellers 235. Golden Hun—Buyers 3s Gd, sellers -Is. Hartley and Kiley—Buyers lis Gd. Lady lioxburgh—Sellers 7s Gd. Molyneux Hydraulic-Buyers Is Gd, sellers Gs. Xew Alpine Consols—Buyers Ss, sellers 9s. Xew Fourteeu-iuile Beach—Buvcrs lis p. Xew Trafalgar—Sellers 225. Otago—Buyers 30s. Rising Sun—Buyers 15s, sellers ISs 9d. Disc and Shine—Sellers 17s Gd. Sailor's Bend—Sellers 10s. ' Vaikaka Queen (pref.)—Buyers os. ilim-u Stocks. Hercules—Sellers 21s' 9d. Xew liny Queen—Sellers 3s fld. Talisman Consolidated-Buvcrs 32s Gd, sel32s 9d. Waihi Extended—Buyers 7s. sellers 7s Gd. Bi s Hiver—Buyers 5s 3d, sellers 7s Gd. Isvsstmest Stocks. Bank of Xew Zealand—Sellers £10 7s Gd. Xational Insurance-Sellers XI Gs 3d. W'estport Coal—Sellers £~ 2s Gd. Xew Zealand Coal and Oil-Sellers 3s Gd. D.I.C. (pref.)—Buyers £1 2s. THE WEST COAST. (FROSJ Oua Ov.'X COBRESPOSDEST.) ' OKKYMOUTH, March 18. the heavy rains on Saturday night and Sunday morning did a deal of damago to milling properly in (lie Moonlight district. Kaces have been soverely treated, while the flood waters brought a large quantitv of debris r.own, swamping the Callaghan's dredge. It wll take a fortnight to refloat the dredge.

At Xolson Creek the mines were all .more or less inconvenienced. Tho Xcisou Creek dredge is working back into what is expected will be good ground. The Antonio's Plat Company's dredge was working through mud most of last week, squaring up the face. The returns last, week were as follows:— Callsghan's Creek. 120 hours, 20oz; Slab Hut, week, IGoz lodwt; Antonio's Flat, week, Ooz ladwt. The directors of the Xew Alpine Company visited the mine on the 30th and 31st January with a view of commencing immediate operations. It was discovered on arrival at Hie mine that the rich reef in the drive from tho winze at the north side of Xo. 7 level had narrowed, giving the impression of being the lon shoulder o[ it block which wits dipping under foot. Owing to the drive being directly under the level it was clearly impracticable to sink there, as in that case No. 7 level would have been lost. II was therefore decided to put the new reef to a. severe test, and sink ii new winzo 50it further north to catch tho reef on the dip if it lived so far. This was put in hand at once, and lias since been continued with all expedition. A fair amount of preliminary work was found necessary, which rotarded operations somewhat before actual work with the new winze could bo begun. On March 2 the winze was down 20ft, nt which depth it was hoped the reef would be cut. The country being still very hard, a small crosscut was put into the footwall side, which disclosed the reef at -Ml. The reef was then stripped for about 4ft, and, though not quite so rich where uncovered, proved to 'ho identical with that- previously got in the last winze. The reef is now therefore proved for it length of about 50ft. living strongly north and south, The reef is 15in at tho bottom of the crosscut, and is widening as it goes down. The s.lonc is of splendid qnalitv, showing heavy coarse gold. The winze is expected to cut the reef on the dip during the present week, and it is intended to then sink on the stone a further distance of about 50ft ■to put its continuance beyond all doubt. No. 10 level, which is about 300 ft vertically below Xo. 7, will then be extended about 200[t, which will bring it directly under the new winze; where an uprise would be put up to connect tho two levels and enable the stone to this depth to be stoped out. Should the new reef continue down from .\'o. 7, as it has every appearance of doing, there should be a very bright future before the company. Xo. 7 level is the most northerly in the mine, and is prospecting new country, so that any stone got there should be cut by the other levels as they are extended north.

AUCKLAND STOCK EXCHANGE. ' IFboh Our Owx Correspondent.) AUCKLAND, March IS. The mining market continues dull, and the only operations of interest arc in Maharahar Copper shares, sales being effected at 9s, with further buyers offering at 9s 3d. Sellers arc holding off, howover, and a few parcels wero offered at lis. Further samples from the mine were on view to-day. One large block of good-looking ore is from an outcrop 350 ft west of whero previous samples were obtained. This is interesting, as showing the large extent of the deposit. A still more interesting exhibit consists ol several pieces of peacock ore taksn from Xo. 1 lode at the •100 ft level. These are really excellent samples of ore, aud the two combined prove the existence of the copper deposit 350 ft further westward and also 100 ft lower down the hill. The following are the closing quotations on the Stock Exchange:—Knramii Caledonian— sollers Is 2d, buyers Is; New May Queensellers 3s 7d, buyers 3s lid; Waiotahi—sellers £l'9s 6d, buyers £1 9s 3d; Tairua Broken Hills—sellers 3s 9d, buyers 3s 7d; Talisman Consolidated—sellers £i 13s, buyers ,-Cl 12s Cd; Waihi— sellers £3 2s Gd, buyers S> Is Gd; Extended—sellers 7s Bd, buyers 7s sd; Grand Junction—sellers £2 4s, buyers X2 Is Gd. -