THE WEEK'S MINING NEWS.

Otago Witness, Issue 2303, 21 April 1898, Page 18

THE WEEK'S MINING NEWS.

A. correspondent sends us the following extract from the Critic of April 2 :—" The Australia, in the Associated Group, has gives the sensation of the week in the discovery of a pure vein of telluride— lO.OOOoz to 15,0000z of gold to the ton. "and specimens of the telluride have shown 30 to 50 per cent: of gold. No need to go to KlondyUc." The Cromwell Argus says:— "On Friday there was* deposited at the Cromwell Bank a retorted oake of Co6oz of gold from 280 tons of quartz from the Ciomwell Company's mine by the tributeis. This quartz is being obtaiced from a flit leader which has sprung off frosn the north lode and ie dipping south about COdeg towards the main lode. It varies in thickness from 2in to 20in, and had a division wall on the upper side, but the lower is very much mixed with the formation which l : es under or alongside the lodes— a soft rock of similar construction to the country generally. This particular leader will probably continue to the main lode, and for the present give the mine an exceedingly good prospect; but, as in all underhand stoping, it gives no surety whatever, as such style of working has no reserves. It is intended to gradually alter tbis into back stoping, but that means an outlay of capital, which probably will be the cause of a new company baing formed. " There remains no other profitable mode of working at present. The present tribute is that the company receives 30 per cent, out of loz to fhe ton, and IA per cent. out. of each pennyiweight beyond that up to 2oz per ton. Thetributers pay all expenses except engineer, raceman, and manager. The'prc?ent leturu sent, to the London office is JIOOO. ' The tribnters aie 17 all told." An Auckland telegiam states that the colonial Shareholders of the Maori Dream Gold Mining Company have forwarded a protest to London against the action of the London directors, if the published report in the Herald of the 13th inst. of the London meeting is correct, as it meant that the London sliateholders would escape a liability to the extent of .£BOOO The Cromwell correspondent of the Dunslan Times heais that the Glenrock Company have sold the Premier mine at Macetowu to the AngloGerman Syndicate for a good sum, Rnd it ie also rumoured "that it is the intention of the syndicate to bring in a low-level tunnel afc a cosfc of £20,000. The Bowman's Flat Company has struck a good run of wash, and last week's work resulted in a return of lOoz. Thiee thousand shares in the Manuherikia Valley Gold Dredging Company are offsied to the public. Tbe capital of the company is £5000 in £1 shares. The prospects taken from the claim, are on view at Messrs Sievwright Bros, and Co.'s offices. j The Tuapaka Times of the 13th says :— Mi j Hilgendorf, late manager of the Waipori Deep j Lead, was in Lawrence yesterday en route for j Waipoii. Id speaking with him as to the future prospects of tha Deep Lead tlaim. he gavo it un- ] reservedly as his opinion that'witb th> expendi- j ture of say about £31100 in pei feeling their water supply for the purpose of giving extra pressure ik would ultimately prove one of the best mining ■ properties in Otago. There was no qucstiou about the richness of the ground. All that was required j was sufficient water pressure. 1 The Waikaia correspondent of the MaUnra Ensign writes :— The continuance of the drought, which has now extended over several months, must f.ti)l be a valid excuse for the paucity of 1 mining news from tbis district. There is abso- ! lutely nothing doing, and not likely to be any ! thing until a good fall of snow takes place among ! the ranges, an event that nuiy occur at iiny time i now. Among the various companies hereabouts ' the Argyle is the only one that L> endeavouring to ] struggle on to a limited pxter>t with one of its '< claims ; the others hays- long tince abandoned hopp, and now caltaly accr pt the inevitable — Thf Golden Crown Dredging Company, after a very , brief period of existence, have at length "shui.. down. All then attempts to win the golden . treasure of the Waikaia River apparently proved futile .and abortive. At present theie is a diver- i sity of opinion as to the ultimate fate of the | ilredge. A number of shareholder, supposedly j the niost influenliul,'arc desiious of hs.vicg her j removed to the Mulynetix, where they at present : hold mining sites, while othei's are anxious that j she should at least be given a trial on the Wind- j ing Creek, at its confluence with the Waikaia ! River. It is to be hope I the suggestions of the latter will prevail, as this is considered one j of the choicest spots of this locality. They should certainly give it a. trial, for they t> ight find it to be the turning point, in the lli>,dUiat would eventually lead on to foituae. — The Ot<igo Syndicate is pushing on with certain ?ei;t 011s of its race-cutting woik, wln'e > thei poitions ars still in abeyance, .uut for which fiesh tenders have recently beer; called This should enable tenderers to profit l>y tbe exppriecce of others, and so obtain a piice Itufc will enable them to push on the work to a speedy termination, and ! also with advantage to themselves and their workman. Our ' Hyde correspondent writes:-" The pcify 1 who li,»ve been sinking in the old Victorian tvoilc- j in^s have struck good gold, s>l>nut 2rUvt to the dish, j Thoy had to sink ahout 6i)ft below (he foiaier giound that hail been woilced. All the ground aio'iind has been pegged oft ". the secretary of the Clyaa Dredging Company (Limited) lepotls a yield of 9oz foi last week Thi? liver ia 7ft Din above normal ni.uk. Tbe dredge master will be occupied for a few tldjs this \ week in la'cini; out the present pujnp and replir- ; ing it with a smaller and more s.uitaul° on'; Tbe j altenlions that were completed in JanuA«y !n-fc s resulted in a considerable reduction in coil con- j sumption, and ie is anticipated that the alteration J jiihl. tefared to wiU eircft a further saving The secretary of the Golden Terrace Dredging Company reports a letum of 42gz i:>dwt lOfei re toited gold for the fortnight ended Jlth Apiil. Tha Round Tl ill Mining Company' •< icturn for Maichis97oz of Ibe v!m of £3^7. The month was eyi'epdiMg'y dry, the i>»iurn heine? f^v '100 hour.,' work of one <lcvfttor Manager 11 tv repcrts plenty of water and " all slant (four elevator^) in , fullwoik." * ! The DunedSn Stock Exchange reports the fol-

I lowing returns for last week :— Goldea Gate j Dredging Company, 19oz 18dwt ; Golden Treasure i Dredging Company, llioz. | The secretary of the Lion Rock Gold Dredging [ Company (Limited), Mr NeviUe. Sievwright (of I Sievwright Bros, and Co ), reports a return of 15oz, i the result of five days' acsural dredging last week. j The manager of the dredge (Mr 0. IC. Richardson) wires that he ha 3 now a face of 200fr,, the full cut he intends working. Mr C. S. .Reeves reports that the Enterptise ; diedge obtained 230s lOdwt 19gr of gold during the current week. i The Jutlind Flat (Waipori) Gold Mining Company (Limited) obtained last week 38ozl8dwt of gold for 141 hours' wages time, 124 hours' actual I di edging