Reefton Mining Notes.

Otago Witness, Issue 1905, 25 May 1888, Page 12

Reefton Mining Notes.

(Fbom Oub Own Correspondent.) Reefton, May 16. Midland Antimony Company of New Zealand. — This is a new venture, the prospectus of which has just been issued. The undertaking is offered to the public in 30,000 shares of 10s each, Is being payable on application, and 6d on allotment. Of the amount thus realised, the promoters (Messrs Bayfleld and party) are to receive £14000 sterling, and £400 is to go to the credit of the company. May 17. Midland Antimony and Gold Mining Company. — I visited the company's ground to-day. It is situate about three miles from town, midway on the line of country between the Globe and Keep-it-Dark mines. They hold an area of 245 acres. There are two distinct antimony lodes opened, one having been driven on for n length of 150 ft, and the other some 10ft or 20ft. The thickness of each is from lft to 18in and 2ft. The two seams are not parallel, but apparently run together, and the level is being pushed on the point where they are expected to Junction. The lode driven on was a little broken in places, but as it entered the hill became more compact, and the quality of the ore improved. A gold-bearing quartz reef runs parallel with the antimony lode, and the latter is associated with a small percentage of gold. There are 20 or 30 tons of ore stacked at the tunnel mouth, and judged by the weight (specific gravity) it appears to be of high quality. lam told it has assayed as high as 70 per cent. Besides the two proved lines of antimony another seam has been found nearly a quarter of a mile further west on the ground, and indications of the existence of other seams are to be seen on the hill sides in various places. The only work yet done on the ground is the driving of the one tunnel, though most of the outcrop has been cleared a little and broken up to test the quality. The leases takes in the ground known and worked by the Fraternal Quartz Mining Company. It seems prospectors found a gold-bearing reef, and lodging an application for a gold mining lease. It was recommended by the warden, upon which a company was floated and went to work. They drove over a hundred feet on the reef, and they found that the Government could not I grant a lease owing to the area being within the mineral lease of Bayfleld and party (New Midland Antimony Company). The Fraternal Company has suspended operatious, and the directors talk ot taking action for damages against the company. The work done of course goes to improve the value of the Antimony Company s property, and the venture is generally regarded as a bona fide undertaking, and will most probablj be floated locally. The intention is to send 50 tons of the ore to London for treatment, and then, if thought advisable, sell the property to a syndicate at Home or work it locally as the shareholders think best. May 20. The following are the battery returns for the past week : — Keep-it-Dark, 1970z amalgam for the week ; Globe, 3730z of amalgam from 180 tons ; Welcome, 297ozaf amalgam from 77 tons; Fiery Cross, 3500z of amalgam from 100 tons; Progress, 1460z of amalgam from 90 tons. Lone Hand. — This venture was placed on the market during the week at 6d per share, and has been successfully floated. The ground is south of and adjoining the Globe.