THE WEEK'S MINING NEWS.

Otago Witness, Issue 2295, 24 February 1898, Page 18

THE WEEK'S MINING NEWS.

The Naseby paper says that the Macraes Hat ; Dredging Company is to be floated privately. The company's three claims have a to'al ar a of 90 acres, with an option of 20 acres of freehold. It is veiy rich, aud was left in the early days because of the impossibility of preventing a large inflow of water. In recent prospecting iOft to 16ft of wash was found in one shaft, said excellent prospects were obtained. The gold is evenly distributed through, the wash aad there are no heavy boulders. The alluvial ground at Orepuki is getting scarce, and when it was announced that a good patch had been found in the vicinity of Clark 3 Gully (says the Western Star) it was hail«d as a veritable Klondyke, and last week a rush took piece. Twenty-five claims were pegged out on an acre, and before that interesting performance was gone tbrnugb, a visitor would have had great difficulty ia telling whether he ; ■was witnessing a scrum on a football field or j pegging-out operations. A New Plymouth telegram says that a ton of quartz from the Kaitake Ranges ha 3 been sent to the Thames by an experienced prospector, who intends to have it tested at the school of mines. Messrs Hamilton and M'Keitow have received the following wire fiom Auckland: — "Waihi Consolidated has struck a new reef which shows Rood tail of gold." The Cromwell Argus says there will soon be four dredges working on the Lower Nevis. Mis Silk's dredge, report says, has grot as much as 30oz per week at times. The giound is very shallow. A first divide d of 6d pe* share in the Sew Hoy Big Beach Gold Mining Company (Limited), in liquidation, has been declared. A dividend of 2s per share hat. been declared by the Enterprise Gold Dredging Company. At a meeting of the Tuapeka Dredging Company Mr John Robinson, of Lawrence, was (the Tuapska Times reports) appointed dredgemanager. There were about 20 applications for the position. An Auckland telegram states that the Hauraki Associated crushed 60 tons for 2490z, valued at £700. Mr Jabez Burton reports that the Ettrick dredge washed up for the week lljoz of gold. The dredge will be shifted back to M'Whirter's Beach shortly, as the river is going down The Golden Terrace Dredging Company obtained 9, leturn of 270z 13dwh 6gr cf retorted gold for the fortnight ending the 12th of Februaiy from No. 1 dredge. The secretary of the Clyde Dredging Company [Limited) reports a yield of 27cz for last week. Ihe dredgemaster reports deeper ground. He ig now working near tho mouth of the Manherikia River. The Dunedin Stock Exchange reports tne following mining returns :— Otago Diedgiog Company, 390z sdwt (for seven days) ; Golden Gate, 18oz ; Golden Treasure, 15oz. Mr Reeves reports a return from tlie Enterprise dredge of 2?oz 9d\vt for last week. The Clyde paper reports that the Molyneux Hydraulic C impany's return for the week ending tbe 16fch inst. was 220z 7dwt 12g<-, value £86 2s lOd. The Upper Waipori Alluvial Gold Dredging Company obtained last week from No. 1 dredge 16oz 18dwt of gold for 131 hours' dredging. Ihe Jutland Flat (Waipori) Gold Mining: Company obtaiaed last week 18oz ]sd\vt of gold for 144 hours' wages time (126 hours' actual dredging).