MINING.

Otago Daily Times, Issue 14528, 20 May 1909, Page 9

MINING.

The river had rUeu to ihe sft siu mark at Alexandra yesimlay alter rain during the night, it is iindcr.-tood Ui be stni The Ivise and Shine .No. 2 dredge worked the full width of the cm last, week, making 811 ahead in, it. The d-s.plh was hum 36!t to 4611, and the wash had a teller appearance, ami wa* widening out. The .-tcrcNiry o( the Otago Company reports a. gtod week's work from both ill edges. There is a slight improvement in the ground in each claim. A fa.il' rim is reported from tho Punt dredge for lata week, the same amount of ground being gone over as during the previous week. There was no alteration in either the prospoci.s or Ihe bottom. The Fijian mining ordinance jiassed some weeks ago liiubcen duly proclaimed at Suva. Prospecting rights over 30,000 aoies have been secured by the Berkeley Syndicate, to hold good for six months. :' Tho Electric No. 1 dredgemaster's weeklv report states that he worked ahead 40ft, the doplh of the ground being 32ft, and the bottom consisting of pipeclay. The cut was about 60ft. in width, and the actual dredging time put in was 128 hours. The gold is of .1 very coarse, sample. The giciind ht'iiiK vtui'lietl in wry rough, and la.rge rocks are met with frequently. The secretary of tho-Sailor's Bend Company received" a telegram ysßisrday from the drcdgenia>'icr staling that .ho had bottomed on Tuesday night, but the river had since risen to the sft Biu mark, and ho had been forced lo stop. The master of the Good .(.'haute dredge reports having started dredging on Monday, the 10th inst., and the dredge has bean running steadily since, giving every satisfaction. "In the early part of the week," he says, " the drift kept running Li from all round. On Thursday we got down about 45ft, and on .■'auirday wo got up to the soiid ground. 1 am still opening out, and the drift, is very heavy on Hie outside of the cut. The gold is of a very fine, scaly nutiiro, and docs not show on the mats, but no doubt it beats info them. It. is all through the wash. Fair prospects are gained on tho outside of tilt* cut. I do not think llfere is any drift running in t.te river, but simply the drainage." The Cromwell Argus reports that the New Luggalo Hydraulic Company has b&eu engaged opening up a now paddock, and it will now be able to stack the tailings. This will enable it to work to better advantage. The electrio light plant installed is working well, so three shifts are now iroing steadily. The prospects are very good. At Quartz Reef Point the Elevating Sluicing Company (says the I)uusla.n Times) is in fidl swing, but unfortunately has not sufficient water to beat, the <rreat influx that conies through the old ground in the river, consequently the bottom cannot bo reached. This is a pity, as gotxl gold is known to exist in the claim. Tho first quarter of 1909 shows a decrease in the gold and silver production of the Dominion (silver teing largely a by-product from tho gold mines in Ohineniuri County) of £55,842. To some extent the falling-off may be attributed to the stoppage for a fe-w weeks of the principal mines, owing to a dispute over a clause in the Workers' Comnensation for Accidents Act. On Friday last (according to tlie Tuapeka Times) the manager of the Golden Crescent Sluicing Company completed his wash-up of tlw firet paddock in i.lie cament on Pest Office Hill, getting 21oz, making a total of 80oz sdwt from* the paddock—a result considered by the manager to be very satisfactory, and proving conclusively the payable gold-hearing nature of the cement. The working of the cement is, however, more costly, as a good deal of blasting has to be done to reduce it. On Wednesday a ton of powder was used in a single blast, which proved very successful, ihe cement being shattered around over a wide area. The eonmany is at present improving its water pressure by putting in 11 quantity of new pipes. DUNEDIN STOCK EZCHANGE. Sides: Hartley and Kilay, £1 10s 6d (three parcels), £1 10s; Warhi Extended, 6s 6d; J'Ufo and Shine, £1 14s 6d. Sales reported: i\'o\v Zealand Paper -Mills, £1 2s 41d; Now Zealand Portland Cement (new issue), £l (premium); Consolidated Uoldlieldii, 18s 9(1. The following are yesterday's latest quotations, subjoot to the usual brokerage;— Dkeuginu Stocks . Alexandra Euroka—Sellers Ss. Alpine Consols—Buyers 2s, sellers 7s, Blackwater (confrib.)—Buyers 2s 3d, sellers 4s. Blackwater (paid)— Buyers 2s 6d, sellers 4s. Charlton Creek—Sellers 3s. Chicago—Buyers 6s. Electrio—Buyws 4s. sellers ss. Enterprise—Bujers Is, sellers 3s. Golden Bod—Sellers 6.1 6d. Hartley and Kilev—-Buyers £1 7s 6(1, sellers £1 10s. Koputa-i (ex div.)— Sellers £2 2s. Maiwlierikia—Sellers 13s. No Town Oreck.—Buyers 12s. sellers 13s. Hi.se and SJiiiic-Biivers £1 14s, sellers £1 15s. Hieing Sun-Buvers £1 14s, sellers £1 19s 6d. Sailor's Bend—Sellers 11"-iVIiNiN-n Stocks. Talisman Consolidated—Huvera £2 lis, sellers £2 12s. Wauii-Buyerc £9 3s, sellers £9 ss. Wailii Extended—Buyers 5s lid. YVo-ihi Grand Junction—Buyers £2 2s 9d, sellum P- fc WaiotiSihi—Buyers 2s. Consolidated Goldffclds—Buyers 18s 6d, sellers 19s, Investment Stocks. National Bank—Buyers £5 6s. "Union Bank-Buyers £62. National lnsuraji'ce-Selkrs £1 Os 3d. Standard Insurance—Buyers £1 & 3d. Union Steam Ship Company-Sellers £1 14s 6d. W'estporf. (,'oal Company—Buyers £6 6s 6d, sellers £6 8s 6d. Perpetual T'rttsto:ii Company—Buyers 17s. D.I.C. (.prof.(-Buyers £1 Is. Milbu-rn Eimo and Cement (10) —Sellers 15s 9d. New Zealand Drug Company (£2)— Sellers £2 7s 6tl. Donaghv's Rope and Twine-Buyers .£1 Is. WELLINGTON STOCK EXCHANGE. IFjiom Ouk Own Correspondent.) WELLINGTON, May 19. Tha mining market has lately dwarfed the investment section of the Exchange, and looks like providing brokers with the sinews of war for some time to come. Tiie second call yMtwdiiy wan noiahlc for fh» number and volume of the sales reported, the full list b?in-,': Talisman, £2 lis 6d (two pareels); Grand Junction, £2 2s 9d, £2 2s 6d, £2 2s 3d; Consolidated Gold, 19s 3d; luminui Caledonian, Is lid; Wailii Ex(ended, 6s 2d; Waiotohi, 2s" 7d; Waiiamfi, 4« 6d. <ls 6J1I: New Alpine (9s 3d paid), 5? 3d; New Alpine (10s paid), 5s lOd; Now Sylvia, 2s 5(1. At this morning's call_ the only line dealt in on 'Change was Wailii Extended 6s. Considerable activity was manifested bv the number of reported sales: Talisman, £2 lis 6(1; Grand Junction, £2 2s 6d, £2 2s; Consolidated Gold, 19s; Kuranui Caledonian, Is lid; Wailii Ex-t-:ndixl, 6s id, 6s; Wnitangi, 4s 6id; New Alpia", 6s 3d, t« (i-es|«ct.iv9 issues). In Hie share market sales wore made of .Sliarland (nref.). 10s 3d; and New Zealand Pa-i«r (cum div.), £1 2s 3d. ALEXANDRA NOTES. (Fbom Oun Own Cohrkspondent.) ALEXANDRA. Hay 19. Mild weather has set ill, and last night a little rain fell. The. gorge Heel dredges have all started again. The FourtoeniniTe Beach drftdge is reported as <roitii;g payable returns, although the.se are not published, the party being a private one. The Now Clyde dredge resumed work cm .Monday, and the master reports that the drift is not bad. The Good Chance dredge has bottomed on fair prospects, and ihe .Mantiherikia has also met with encouraging wash, on the bottom. Lane and party's two dredges are working. Tho new purchase is working her way in through the tail-in its at the Itotlom of the claim. It is |ho intention of this party to erect an 80ft- elevaior. put on a silt wheel, and make oilier necessary alterations, which will result in a further outlay of something approaching £1200. The Ngapara Company's dredge is undergoing- an overhaul, whilst the Chicago and Enterpri-o dredges are working steadily. The erection of fhe smelting- works at the antimony mine is Hearing completion, ihe brick work being no«- finished. This industry shcttld cause a revival in lode milling as soon as the smelters commence operations, and the work of fun her developing the mine proves the full extent of the ore.

WEST COAST NOTES. (Per U.n-ited Piiess Association.) JtEKI'TOX, iUv 18. Mining afTairs here (ire very active, keen oca I intercr bein'r taken hi'the shares of local prospeciiiig .shows. Th.i- Now Usler is reported to have struck good stone in », 3ft l'(-?f. un.l shares held loeallv are rising. Much interest is aLo centred on Now Caledonia,, l.'„il,d mine, where a. shaft litis been Mink In sirike I lie old Caledonian roof, and driving is being undertaken to intersect if. Tin's reef was worked in the old (lavs, and was verv rich. The keenest interest is taken locally in the venture. WAIIII GRAND JUNCTION COMPANY. (Per United Pukss Association.) WAIHI, May 18. , Developments at the bottom (No. 5) level in the Wailii Grand Junction mine arc assuming an important character. The Empire lode, one of the Wailii mine's valuable reefs, has been driven across for a distance of 20ft. ii-iih no sian of the other wall, and drilling operations have just shown they are entering into richer ore. T-hu ore so far broken out, Ihomrh not '"oil snide, is being sent to I lip mill. Tim majrniludc of ihe reef so far disclosed, with higher values ahead, provides a. verv promising- outlook for the development of the lode at this level. MOUNT IDA DEEP LEADS PROSPECTING. . Tim first general meet in? of shareholders m the Mount. Ida, Deep Leads Prospcctiii" Company was held in Nasoby last Saturday "oning. Mr ,1. ]{. Smith', chairman of directors, presided, and gave a short verbal rnixirt of the operations of the companv, stating that, they could not go any fuilhev with the plant, at, their disposal. They could now either apply to the Government to prowrly equip the plant with piping, or get the Government and the local bodies to allow their subsidies to be applied to sinking a. shaft, or thev could go into liquidation. The Government, had miskd them to a great oxlcnt, 113 they were given to understand that it was capable of sinking aUOft, whereas it would not go more than ,n, "1 fhe clms «* (found. The financial statement showed that outstanding accounts and cash in hand loft; a balance in hand of £11. The following were, elected directors :-Messrs C. Hore, O. Brown, M. Brown, Jas. Mitchell, R F I'l'ler, J. ij Smith, and F. W. Tndcr. Alter considerable discussion as to the future operations of the company, it was decided to adjourn fhe meeting till it was known what the Government intended to DREDGING AND SLUICING IN VICTORIA. The annual report of dredge mining and hydraulic sluicing in Victoria for the year 1908 issued recently contains the following information :— Forty-seven bucket dredges, working for an aggregate period of 1866 weeks, raised 12,780,248 cubic yards of material for a yield of 55,1580z of gold, or 2gr per cubic yard. The area floated was 529 acres, and the quantity of gold saved per acre was 104.30z. The dredge which treated the. most material won 13070z for 51 weeks work from 21 acres of ground, averaging I.2gr of gold per cuhio yard of material treated. The average weekly return of gold per plant was 29jOz, the number of men employed was 641, arid the weekly working'expenses per plant averaged about £57-equivalent.to, say, 14oz of gold. This system shows an increase of gold won during the year of l'i,o73cz, and an increase in dividends of £30,599, paid by 19 companies, and ranging from £200 to £16,625; but it is to be ni-ejitionod that a good many companies working this and UlO pump sluice, systems have practically paid for thchwplains out of the gold recovered, dividends thereby bems: reduced. Tik- amount expended by the "buckets" in wages, fuel, and maintenance for 1903 was £123.447, and the dividends paid £59.249. The initial cost of these plums was £227.765. Seventy-one pump hydraulic sluicing plains, for an uggrogate working time of 1534J weeks, dealt with 7,525,903 cubic yards of material for a- return of 47,66507. of gold, or 3gr per cubic yard; 39 tons 15cwt of tin, valued at £3225, wire also won. Tho area worked woe acres, the quantity of gold obtained per acre being 1990z. ' The plant with the highest yield of gold obtained 269-bre from six acres of ground, containins 555,732 cubic yards of material, or an of 2.3irr nor cubic yard. The average weekly yield of gold per plant was 31oz. and the number of men employed was 1749. The average weekly working cost per plant was £90— equal to, say, 22»0z of gold. A decrease of 76070z of sold ifi shown bv this tviw of dredge also a decrease of £4920 in dividends paid by companies, and musing from £100 to £J6?'7. An increase of seven 10115 in tin yield is shown. The wages, fuel and water, and maintenance, accounts total £177.614, and the dividends paid were £4535. The initial ccst of these plants was £W0,279. Five hydraulic jet elevators, working lor an aggregate linio of 73,1 weeks, put through 240.355 cubic yards for a return of 15440z, or 2.6gr of cold per cubic yard of material treated. The una dealt with was 8.9 acres, the quantity of gold won per acre Dei.ug 151oz. These plants employed 46 men, and were valued at £4364. In all, 123 dredging nhn\e, as described above, treated 20,546,506 cubic yards of material, for a return cf HH.IGToz of gold, valued at £416,670, or an average of 2.4 grains par cubic yard of solid mallei' dealt wjlh. The area worked was 777 acres, which averaged a yield of 134cz of gold psv acre, and employment wu.s given to 2435 men. Tho dividends paid, £63,784, show an increase of £25.679. In addition. 39j tons of tin were obtained, valued at £3223. The total amount, of sold shows an increase of 634c07. over 1907; the total expenditure in wages, fuel, and maintenance being £305,060. The total initial cost of these plants was £402,426. There wore only six plants, working by ■ gravitation hydmttlio sluicing. The aggregate number of weeks worked was 100, the quantity of material treated being 156,586 cuhio yards, for a return 0f16410z, or an average' of 5 grains of gold per euliie yawl of stuff dealt with. 'The area work-ed was 7.1 acres, the quantity of gold saved being at the rate of 231,10z per acre. The' highest yield was 1114oz from three acres. These plants employed 52 men, and were rained at £8000. Besides- this gold yield, 22 tons 15cwt lqr tin, valued at £1555, were won . One of the companies paid a dividend of £1300. The total quantity of materia] treated (hiring the year, under dredge, mining, and hydraulic sulicimr by gravitation, was 20,703,092 cubic yards,'as against 20,586,003 cubic yards for 1907, and the amount of gold won was 105,80E0z, as against. 100,?,16m for 1907. The yiokl of gold por cuhio yard of material treated was 2.4 grains, as against 2.3 for the previous year. The total area treated was 784.2 a"crcs, from ground varying- from Bfl to 50ft, aaid the number of men employed was 2187. Under this heading, the dividends paid were £65,084, fhe wages and 01 exppris.es amounted to £310,326, and the initial ccst of plants was £471,326. Tin won during the vear was 62 tons lOcwt, valued at £4778. " The total quantity of material treated oy dredge, mining, and hydraulic sluicing by gravitation during the veal's 1900 to 1908 was 109.051.103 cubic yards, and the gold won was 549,143«z, worth, eay, at. £4- per ounce, £2,126,572. The quantity of tin obtained chirimr the above nine years was 455 tons 19e\vt. * The total quantity of gold won prior to 1900, by dredging operations, was 90,5280z. If'this bo added ;o tin yields and area recorded for 1900 to 1908 inclusive, a grand total of 633,671<w. of gold, valued al £2,558.684. together with 456 tais of tin. is given from gold dredging anil gravitation sluicing since Ihe inception of dreilge.niining. This yield should bo supplemented by 19,2240z obtain.;.;] by compilings and co-operative part;;..,, who gave no further information, making- a gram] total of 658,8950z of gold, valued at £2,635.580.