WAKATIPU MINING NOTES.

Otago Witness, Issue 1824, 5 November 1886, Page 12

WAKATIPU MINING NOTES.

(From Our Own Correspondent.)

Arrow, November 2. Macetown. — The Premier Company have made a start with crushing, and it is expected the Tipperary will soon follow suit. Maori Point —The Maori Point Company are treating with the Public Cruhhing Company for their crushing machine at Macetown. Several contracts are out for works in this mine, and every effort is being made to push the work ahead. At Skippers things are satisfactorily progressing, and report says that the Phoenix Extended is on payable stone. The Arrow River Tunnel Company are about to set tbeir hydraulic jet elevator going very shortly, all the preliminaries being already completed. It is reported that the Phoenix has cleared up a small crushing, but the weight of the cake has not transpired. NOTES FROM REEFTON. (Fhom Our Own Correspondent.) Reefton, October 28. Globes are unchanged. Tbe company have decided on constructing a trolly at the works to convey stone to the upper paddock, so that by the time the tramway is through there will be enough stone in the lower paddock to give the stampers a good start. All the works are being pushed ahead with the utmost speed, and it is calculated that the battery will be able to start again in about a fortnight with 10 heads. Owing to the activity now going on in the Globe and other mines good miners are scarce, and there is an opening for a few experienced men. Reefton, October 29 Some stone, which is reported as tremendously rich, was brought iv to-day from the Lone Star. The winze going down carries a well-formed, though small reef, thd quartz being exceedingly rich. The shares are in demaud to-night, the price offering being 4s 9d. Wealth of Nation?. — There is a little movement in these shares to-night. It seems that through the caving of one of the old upper level a body of stone has come into view, but nothing is yet known as to its oharacter. Hands will, however, be set to work to-morrow to open out on it. Globe.— The winze is now down 17fb. A couple of feet back the reef became a little loose ; but it has now made again, and holders are very confident. The return of fine weather has enabled good headway to be made, and all the works are getting well advanced. This is the first fine night we have had this week, and the town again presents a very animated appearance, the streets being very crowded with people, and there is much bustle and activity on all sides. Reeftokt, October 31. The battery returns for the past week of the Keep-it-Dark mine gave 510oz of amalgam. Neither the Welcome nor Venus batteries were crushing full time duriug the week, and therefore did not scrape up yesterday. The former lost one day through inability to obtain hands, many of the miners throughout the field having been engaged in share buying, and therefore they took off their working clothes and took to the " block." Globe. — During the week the excitement in these stocks eased off a little. It appears that owing to the reef changing its underlie as it gets into the solid country the winze going down was thrown into the footwall side, with the result that more and more mullock came in as the winze deepened. News of this got wind, and the market being very sensitive prices began to recede. Later iv the week, however, the manager guessed at the cause and put a lateral drill hole from the bottom of the winze, and the following report sent to the directors last night will show the result : — " October 30. — To the directors of the Globe. — Gentlemen, — The winze is now down 18ft. This afternoon 1 bored a hole 3ft Bin into the hanging wall stone, tried the borings, and got as good a prospect as from the stone in the face above. No sign of the hanging wall at the bottom of the hole. I am getting ahead fairly well with the tramway, and will start the excavation for main shaft on Tuesday. — Jambs M'Culujm, mine manager." This news last night had a good effect upon the market, and the drooping stocks at once became very firm and confidence was re-established. Keep-it-Dark. — The monthly cleaning up took place yesterday, and the directors will meet tomorrow night to declare the customary dividend. Lone Star. — These shares have been in active demand during the whole week, and sales were yesterday effected up to 4s 9J. During the week the winze which had been put down by the prospectors 33 ft on the reef has been squared up preparatory to further sinking, and latest accounts are that the reef is from 2ft 6in to 3ft thick at the bottom and carries splendid gold. A start has been made with the driving of the low level, and during the incoming week good headway will be made with all the works. Walhalla. — The tributers' crushing will be finished at the Just-iu-Time battery to-day. It is a trial crushing of stone which is known to be poor, but being easily got is hoped to be payable. Britannia. — The manager reports that after trying several traces of stone, he has now a well-defined track carrying gold. Golden Hill. — This ground, which lies north and east of the Golden Treasure Company's lease, was repegged and applied for yesterday, the applicant being Mr David Yoring, Colorado. This property is to be registered under the Mining Companies Act by Mr W. G. Collings. The ground is situated between the Lone Star and South Hopeful, and adjoins the latter. The company is to be composed of 24,000 shares. Just-in-Time — The company's paddocks and passes are all full of stone, and everything is I ready for resuming crushing directly the tributers' parcel is got out of the way. The company was compelled to crush for both the Walhalla arid then the tributers', the former having filled the upper paddock, which the triWuters wanted for their stone. Reform. — A report was in circulation last night that a make of stone had bnen met with in the crosscut from the north winze, but I have not been able to get anything definite about it. Yesterday there was some demand for the shares. Wealth of Nations. — Nothing further has come to hand respenting the recently discovered block of stone in the upper level. Fiery Cross.— The returns for the past week are sot to hand. Rebjtxon, November 1. Biy Hirer,— Aoali of 3dpw shweto announced.

The contractors are now making good progress with the conveyance of the machinery to the mine, and it is expected it will be all delivered on the ground by the end of the year. Preparations are forward for the erection of the plant, so it is believed that everything will be ready for crushing by February or March. There is over 100 tons of stone in the paddock, and the miue is iv a good jway for delivering quartz. The atone shows nice gold, and the venture is looked on as a very promising one. The bulk of the 6haresare held in Reetton, and the shareholders' list includes- many of the best names in the fit j ld. The fact that the mine is situated some 15 or 20 miles from Reeffcon in an isolated locality has hitherto tended to keep the property in the shade. No. 2 South Keep-it-Dark.— The tender of Bolitho and party has been accepted for extending the low level. The price is 13s 9d per foot, wbich is extremely low. Eclipse. — The manager reports that stringers of quartz are showing in the face of the crosscut. Welcome. — Owing to a breakage at the battery in the early part of last week the stampers have been since hung up. The repairs are now in progress, but it is not known when crushing will be commenced. There is, however, ample scone ready. Chicago. — The prospectus of this new venture is issued. The ground as mentioned yesterday is situated between the Hopeful and Lone Star. The shares are to be placed on the market at Is. Lone Star. — Nothing has come to hand to-day from the mine, but the shares continue in strong favour, numerous sales having been effected up to 4s ! d. Globe. — A verbal message sent in by the manager is to the effect that everything looks well, and the works are progressing very satisfactorily. Reform. — Nothing further has been heard regarding the reported find of stone in the crosscut from the winze, and no importance is attached to the rumour. Just-in-Time. — The battery 6tarts to-night on the company's stone. The returns from the Walhalla Tribute are not yet to hand. Venus Extended. — The contractors for driving the low level having thrown up their work, fresh tenders are called to-day to close on Thursday next. The town has been quiet to-day, the principal business being the settlement over the Globe sales. Everything has gone off satisfactorily so far. Reefton, November 2. Welcome. — Owing to the breakage of the shaft, cleaning up was made for the short crushing up to the accident, the result being 3280z of amalgam from 45 tons of stone. Fiery Cross. — The returns for the past week are 2650z of amalgam from 96 tons of stone. Venus Extended. — The battery was not fully employed during last week, a stoppage having been occasioned through the men taking " French leave " for a holiday. The returns for the time occupied are 1350z of amalgam. Globe. — The weather being fine, quite a crowd of persons visited the mine to-day and came back very favourably impressed with what they saw. The directors being anxious that outside shareholders should be kept posted as to the prospects of the mine, have decided to keep me informed, so that all that is to be known may be communicated through the press. The following information was given to me by the directors this evening :—": — " Winze down 25ft. Reef holding large, and stone estimated to be equal in quality to that crushed — viz , 2oz per ton. The proposal relative to sinking a main shaft has beenabanrloned in favour of a plan recommended by the company's engineer — namely, to put in a tunnel to cut the reef at a depth of 110 ft (along the underlie). From the surface workings the distance to be driven to do this is only 200 ft, This would be much the quicker and cheaper method of opening the mine, as the cost, including connection with the present machinery, will be under £400. It is calculated that the mine will be fully opened up in two months' time, and the 20 beads put in full operation." Lone Star. — These shares Btand at between 4s 9d to ss, but the market has been pretty well cleared, and until some further news comes to hand from the mine there will be no further movement. The articles of association, just published, show that a good sprinkling of shares are held in Dunedinand Wellington. Progress. — This company (the old Oriental), which adjoins the Globe on the west, has been floated privately, 19,000 shares at 2s having been taken up to-day. The proprietor (G. Perotti) retains the balance of 5000 shares. Seme disappointment has been caused by the private floating of the company, many intending investors having been under the impression that the issue would be thrown open to the public. Keep-it-Dark. — A dividend of Is per share is payable on and after the 4th insfc.