MINING

Otago Daily Times, Issue 16121, 9 July 1914, Page 9

MINING

A Press Association telegram from Wellington states that the Ross" Goldliolds' mine superintendent, telegraphed that the past week's return w;is 2bo/. of gold from 970 trucks of wash.

During last vfivli the Klectric No. 1 dredge worked- 132 hours for a distance ahead of 22ft. There was no change in the quality of Ihe bottom, which still consisted of .si.ndHt.ono, granite, and flay. 'I he ground on the liannix-klmrn side was very diilioult to work, and contained a number of large boulders. Tins prospects in the earlier part, of t.ho week were good, and nt the time, of writing (6th instant) were fair. I ho sample of .gold was scaly and n.uggety. The ground was getting very much deeper. Tho master of the l'-Joctrie- No. 2 dredge reports that the dredge worked 26ft ahead last week. The groun<l was very rough, and a mimber of large stones were being lilted 'IJiero was a reasonable chance ot striking bettor ground ahead, as good gold hud been obtained on tho banks. Tho bottom was chippy and in many places very hard.

Tho Rise .-ui<l. .Shine No. 1 dredge worked a cut of 500 ft last, week, making 6ft ahead Tho ground averaged 46ft in depth, and much improved prospects were got in the eastern half of the cut.

The Rise and Shims No. 2 dredge finished tho dam on Tuesday, and continiuodt dredging until Friday, when it became necessary to send tiic second-motion shaft to Alexandra to be straightened. The dredgemaster expected to resume work yesterday. Tho exports of minerals from Broken Hill (New Houth Wales) for May were valued at £395,715, against £581,93/ for April, and £376,257 for March. The details wore:— Silver-lead concentrates, 30,020 tons, valued at £264,592; zinc concentrates, 43,0-/7 tons, valued at £113,310: silver-load crudes, 2759 tons, valued at £6550; Hlver-lead slimes, 1707 tons, valued at £9559; zinc slimes, 719 tons, valued at £1805. 'the tonnage for thy month, for both lead) and; zinc concentrates was greater than tor April and March. For saino years past a Gisbome syndicate has been interested in gold mining claims in the north (says the Times), but their enterprise- has up to the present met with but little encouragement. It will come as good news to hear that a local syndicate whicli owns n claim at Waikino has struck a find which promises to pay out well. Jt -is owned by Gisbome and Auckland people. A large reef formation, fully 40ft in w:dth, has boon located by tho prospectors, and gives good prospects of frco gold in tho dish. The claim is only about 300 yards from tho Waihi Gold Mining Company's big Waikino- mill. Although several gold mining ventures have been tried by local people without results, this last discovery looks as if they at last havo discovered a valuable reef.' An interesting feature of the find is that the rock appears to be carrying richer gold than the quartz. It is intended' to float a company with a capital of £12,000 to develop tho claim, of which only £2000 will be issued at present. A live-stamp battery will l>e iastalled, and when this is in operation the remainder of tho shares will be issued. v A Gisborno member of tho syndicate who recently visited the claim speaks very optimistically of tho prospects.

The Walton Park Brick, Tile, and Coal Company (Ltd.), having acquired a property at Walton Park of about 10 acres in extent, showing an average depth of 12 feet of olay, have decided to float a company, with a capital of £2000, to work same. It is reckoned that the material visiblv at disposal is sufficient to last 50 years, notwithstanding that the modern machinery they are putting up is capable of turning out 90.000 bricks per week, or one a second. There is a railway siding running right up to the brick kiln of the proposed new company from the Walton Park Coal Company's railway line to the mines. The company has at present only one kiln, but to cope with the output 3 more kilns are to bo erected. Estimates by authorities competent to judge the monthly expenditure, and who are aware of the capacity of tho proposed plant and also of the demand to be met, warrant the assertion that a most lucrative business is now being offered to prospective shnreho'ders. Prospectus and other information may be obtained from Mr A. S. Johnson, share-broker, 152 High street.—9/7/14. BROKEN HILL PROPRIETARY COMPANY. Pr»«» A«K>ci»tion—Bj Tel»fr»ph—CopyrirM iSYDNEY. July 8. The Broken Hill Proprietary Company is issuing locally £600.000 worth "of 6 per cent, debentures at 97, having a currency of 20 years.