REVIVAL IN QUARTZ MINING.

Otago Witness, Issue 2923, 23 March 1910, Page 28

REVIVAL IN QUARTZ MINING.

We. understand that a syndicate has acquired the old- Bendigo quartz mine, near Cromwell, and immediate steps are to be to exploit its possibilities as a bullion producer. ' In 1875 Professor Ulrieh wrote :— -" Logan's Reef and Cromwell Company.—This celebrated reef, in the possession of Messrs Thomas Logan, B. ' R. Baird, arid G. W. Goodger,. the latter orf whom showed us through the workings, is without question the richest and best defined in the Province of Otago, and has been very extensively worked *or nearly half a-mile in length, but is traceable for pex'haps three-quai-ters of a-mile further east in etrike." Each member of that trio, is reported to have obtained anywhere from £50,000 to £60,000 a-piece from it before disposing of it to an English company, and up to the time of its abandonment by the latter it is claimed that . learly half-a-milliori' pounds' worth of bullion was taken out of the* Bendigo, or Cromwell, mine, as it was sometimes.called, This was all obtained from free-milling ore, but on reaching the 320 ft level the ore became very refractory. At this depth the reef was 3ft in width, and was driven on for nearly 600 ft, and at the 440 ft level the reef was driven on for 800 ft. Sinking was then continued to the 520 ft level, and at that depth the reef varied from a few inches to 2ft 6in in width, but no more ore could be found, and there' being at that time no known method of successfully treating refractory ores in large quantities, in 1884 the company had to close down. About three years later the cyanide process came into use. Had it come into general use-three years earlier, the history of the BendigO' mine would, in all probability, have been written differently, as it is claimed that precisely similar conditions prevail in the Talisman mine, the success of which has been almost entirely due to its rh-oiitable,treatment, di sulphide ores by means of the cyanide process. Consideration'of this important factor in modern quartz mining has directed attention once more ,to the Bendigo reefs, an'l che history of a number of, mines in Australia shows lhat they paid their owners we.ll whilst -working the higher levels; but on reachintr. depth the ore became impregnated

with -pyrites and other minerals to such an extent "that they would have had to rcmam idle indefinitely had the cyanide process not been discovered. The success which has attended the M'Arthur-Forrest process is too well known to call "or more than passing comment, and now that it is available, and in practical daily ase in many of the largest mines in the world, a -few laboratory tests soon demonstrate its adaptability for the treatment of refractory ores. Some recent assays of ore obtained from the 320 ft and 440 ft levels of the Bendigo mine show values ranging from a few shillings to ±A per ton. and several parcels taken from the eastern portion of the claim disclose very rich values, ranging from ±,B per ton to £l7 10s per ton. Taking a mean average of these values, which ar© from an authoritative source, it must be admitted that the future prospects of this old bonanza look very promising indeed, bj there are abundant records available from former managers of the mine to show that the sulphide ore exists m welldefined end abundant quantities. Ihe late Mr G Hosking, who was manager tor the London company, reported to the shareHolders that the walls of the reefwere, welldefined at • die 520 ft level, and afforded ample evidence that it would live at great d Professor Waters, of the Otago School of Mines, visited the mine a short am. ago, and is preparing a o **. on the urooertv and the best methods of working; it P lt is believed that ample water power t available to generate enero-v to work the mine by that means if"the present storage capacity is augmented by another dam below the present one to conserve the water from the Bendigo Cre*k. It is proposed to carr> this water in pipes to a point which will afford about 500 ft Seiofart the generating station-about «T-t %T2Sr which have been placed at our disposal it is evx dent that, this property has tinlities of great value, and with toe juai recently made by a vi«" ln » ._ * Worne •'the Bendigo mine bids fair to Decoi the Talisman of the scutn. ■votes from Cronrwell. (From Our Ovjn Correspondent.) CROMWELL, March 18. . The river is now falling fast, but is stilt at a high level, and the gorge dredges will bo id'e for a considerable time yet. Th- Rise and Shine dredges should getn start at the end of next week. The Excelsior dredge is now about ready to start at the foot, of WeU and it is thought it should do fairly well, a* tbp around <s shallow. . / 8 The Electric No. 2 dredge is moving down the river fairly fast, and is past the worst as far as the shallow beaches are conceTned. It should reach the junction of the two rivers by Monday night. \ . .' It is stated that a large number of will nrobably soon be at work at reefing on the Carrick Range as some good prospects have been got there. There is little St that this should to a fine.reefing field, as rich stone was obtained there in the early days, when the expense of wonting was much greater in every way. ROSS GOLDFIELDS. (From Our Own Correspondent.* GKEYMODTH, March. 15. , The pumps in the Ross goldfields have now so completely mastered the water that but a minimum amount of power is required to keep the shaft and, workings dr>The mine manager is now pushing oni .nth some excavation work - and wnen this w finished operations will be carried on with all alacrity. WAIKAKA UNITED DREDGING COMPANY. The statement of affairs issued by the Waikaka United Gold Dredging Company, detailing last year's operations, shows ;nat the company was registered m /ebruary. 1899, with a nominal capital oi .+,lo.UuU; 11,200 have been allotted. The company registered with 23 shareholders, and' there are now 34 on the list. Sixteen men are employed by the comrjanv, and the total quantity and value of gold produced to tha end of last year.was 21,7370 z. value £36.943 13s 3d, of which 25710 z. value £10,284 fe. was produced during last year. The total expenditure to the end of last year (including £38.080 paid in dividends), amounted to £91,262 19s-9d, of whk* £55644s 6d was expended in carrying on operations last vear, which closed with a credit balance of £385 13s lid at the bank. Debts amounting to £557 were owing by the. com- " pany, but' there were no contingent liabilities. """ NEW ROXBURGH JUBILEE COMPANY. The annual meeting of shareholders in the New Roxburgh Jubilee. Dredging Company, held on the 18th, was presided over by Mr H. Adam, .chairman of directors. The Chairman, in moving the adoption of the report and balance sheet (already published), stated that .in comparing the items on this year's balance sho~t and those on last year's sheet little fluctuation was noticeable in the expense of running the dredge. The coal bill was. £l3O more, and carte*" and railage expenses- £ll2 less than list year's figures. Interest on debentures was £SB more than on the orevious year, whijvi the expenses in connection with ma inter. flJieo and repairs had been reduced by £383. This year's output, of gold fell short of last year's total by £520. To balance this, however, the expenses incurred this year were- altogether less by £556 than last, year's.' The difference- in tbj amounts of expenditure for the two years was explained oy the fact that this year there was no expense in connection with the ladder of the. dredge. There was altogether a deficit of £386 for the year. This amount, however, was leas than last year's by some £54. On account of the varying depth of the rivar the dredge could not be kept on the same ground for any length of time. This hindered operations, and consequently affected the year's returns. The claim was also very patchy, in parts. The dredgemaster had reported to him that in May last the dredge was moved to the upper end of the claim on the west side of the river, but as the returns were not satisfactory the dredge was again moved down stream about 250 yards, .and work was resumed on the east side. Here they had a fairly steady run till September, when the block of ground was worked out. They next tried some deep ground in the middle of the river, but

It proved too deep to be workable. A block of summer ground on the east side then received attention, and gave fairly good returns. There was every prospect that good returns would be forthcoming in the future. Nearly half of "the claim yet remained to be worked; A large part of this consisted of bank, which it was anticipated would yield satisfactory results. Mr Bell seconded the motion. Mr Glendining asked whether it was desirable to put on a sluice-box instead of a Screen. The Chairman replied that the proposal jvould be worth considering when the screen, wjhich was at present working satisfactorily, was worn out. The motion was carried unanimously. Messrs H. Adam and Vealo were reappointed to_ the board of directors. The retiring auditor (Mr G. M. Mac Lean) was reelected. THE GOLDEN BED DREDGING COMPANY. Sir, —As a shareholder, I should like to 'know who is responsible for the management of the -affairs of this company? The returns have been high for some considerable time past, yet we hear little or nothing as to what is being done with the money. The reports of other dredging companies’ weekly operations are supplied regularly to the newspapers Why is this not done in the case of this company? I am one of many shareholders who are very much dissatisfied with the manner in which the directors and officials of this company are treating the shareholders by keeping news concerning operations entirely to themselves. —I am, etc., Shareholder. Dunedin, March 18.

DUNEDIN STOCK EXCHANGE. The share market hag been quiet during 'the past week, and only a moderate amount of business has been reported on the Stock Exchange. Old Haurakis still maintain their reputation for unsteadiness, and have occupied pretty much the same relative position this week as they did last ween.. Last Saturday there was a sale at 4s 4d, and on Monday there was another sale at 5s 9d. The quotations gradually hardened, and closed on Friday at 4s Id buyer and 4s 3d seller, but these prices did not lead to a sale. Talismans have been m fair demand, and there were sales, at* £2 12s 9d, but eased back on Friday to a sale at £2 12s 3d, the market closing yesterday at £2 12s and £2 12s 6d, buyer and seller respectively. Waihi Grand Junctions have been fairly steady with sellers firm, and prices have hardened from £1 13s 9d to £1 14s 3d, at which prices parcels changed hands. One parcel changed hands on Friday at £1 14s, and the market closed with a seller at £1 13s 3d and a seller at £1 14s, and a parcel was sold at £1 15s, delivery in eight w6eks. •New Zealand. Crowns tun I* been freely quoted of late, and a sale was recorded at 5s sd. the market closing with a buyer at 4s lOd and a seller at, 5s 3d, an outside sale feeing reported .at ss. Waihi shares have, been inquired for up to £9 13s 6d, but the market weakened yesterday to a seller at £9 11s 6d, but idle best buying offer was £9 7s 6d, and no business resulted. A few other mining stocks have been offered at prices which failed to find buyers. Dredging stocks, with one or two notable excentfons, have been very flat during the week, due no doubt to tire high state of the Molyneux River. This has caused a number of dredges to cease work, and others have had operations seriously impeded by the same cause. No sales of these*stocks were recorded during the week, and a sailer of Golden Beds at 19s 9d yesterdav failed to find a better buying offer than 18s. Rise and Shines have been in steady demand at about £2 4s, and Risinet Suns at £1 18s 6d have also been inquired* for, but the market closed without either denomination finding a seller. Investment stocks have net been in strong demand, and very tew sales were recorded. National Insurance shares accounted for a sale at 28s 6d, ard tee re was a reported sale on Friday at 2 p s 7-id. the market closing with sellers firm ac 295, and a buyer at 28s 4id. Bank of New Zealand shares have been in demand at £9 lls 6d without sellers, and steadv offers of £3 have failed to tempt holders of National Mortgage shares. Shares in M'Leod’s Soan have been wanted of late at £l3 10s. hut holders of this scrip ha ve shown no'inclination io sol). The share market was weak‘on Monday, and several stocks showed a downward; tendency. No sales wore recorded on ’Change, but several outside sales were reported. One parcel of Waihis found an outside buyer at £9 Bs. and another parcel changed hands at £9 9s. There ,vas one reported • sale of Union Steams at 31s 9d. and two of Grand Junctions at 52s 7gd and 33s respectively. . The following are Mondav’s latest quotations, subject to the usual brokerage;— Dekdcing Stocks. * Blackwater —Buyers os, sellers 4s 9d. * Central Charlton Buyers 2s, sellers Bujwms

Golden Bed—Buyers 17s 6d, sellers 19s 6d. Hartley and Riley—Buyers 13b 9d, sellers £l. Koputai—Buyers £1 6s. New Roxburgh—Sellers 6s 6d, No Town Creek—Sellers 10s. Sandy Point —Sellers 10s. Mining Stocks. Muddy Terrace—Buyers £1 4s, sellers £1 6d. ' n ~ , Blackwater Mines—Buyers £1 9s 3d, sellers £1 lis. ..'•,,' Ross Goldfields—Buyers 7s 6d. Barewcod —Sellers 16s. Consolidated Goldfields—Buyers £1 Is 6d, sellers £1 2s. . Kuranai Caledonian—Sellers Is fd. May Queen— Buyers 4s 2d, sellers 4s bd. New Sylvia—Buyers 4s 6d. Old Hauraki—Buyers 3s 9d, sellers 4s. Talisman Consolidated—Buvers £1 lis 6d, sellers £1 12s. n ' Waihi—Buyers £9 Bs, sellers £9 10s. Waihi Extended—Buyers 3s. Waihi Grand Junction— Buyers *<l -Us, sellers £1 13s- - Waiotahi—Buyers 3s Sd. March 15.—Talisman £2 12s 9d, £2 12s 9d. Waihi Grand Junction, £1 13s 9d. Reported sale: Old Hauraki, 3s lOd. _ March 16.—Waihi Grand Junction, 34s 3d Reported Sales—New' Zealand Crown, 5s 3d; National Insurance, 28s 6d. _ March 18.—Talimsan, £2 12s 3d; Waihi Grand Junction, £1 lis 4d. Reported sales: National Insurance, <!&» 7id; New Zealand Crown, ss. March 19.—01 d Hauraki, 3s lOd; M.Z. Paper Mills, £2 2s. Reported sales: Talisman, £2 12s 6d; Old Haurika, 4s 2d. March 21.—Waihi, £9 Bs, £9 9s; Union Steam £1 lis 9d; Grand Junction. £1 12s Ikd, £1 13s. AUCKLAND STOCK EXCHANGE. AUCKLAND, March 21. The following business was done at the afternoon call to-day:—May Queen, 4s 3d, 4s 4d 4s sd, 4s 4d; Monowai, 2s; baxcn. Is 9d; Watchman, Is _7d; Consolidated Goldfields, 21s 9d; Old Hauraki, 3s lid, 3s lOd, 3s 9d; Royal Oak (cont.) is Id; Talisman Consolidated, 51s 9d, 51s 6d; Waihi 189 s 6d; Waihi Grand Junction, 32s 9d'; Mountain King, Is; Auckland Gas (£1), 66s 3d; Kauri Timber (cont.), 17s 6d; Paper Mills, 20s; Taupiri Coal, 19s 9d; Occidental (p.u.), 3£d'. WELLINGTON STOCK EXCHANGE. WELLINGTON, March 21. The. following sales were reported:— Waihi, £9 8s 3d, £9 7s 6d, £9*Bs.

DREDGING RETURNS. Oz. dwt. gr. •Rising; Sun, Cromwell, 131hrs 78 10 0 Golden Bed, Miller’s Flat, 30hrs ... 52 0 0 Good Chance, Alexandra, 4days 49 ■ 0 0 Molyneux Hydraulic, Alexandra, week 34 8 0 Master-ton, Waikaia. I32hrs... 33 4 0 Waikaia United No. 1, Waikaia, 113hrs 31 14 0 Golden Treasure, Miller's Flat, week 26 0 0 Sandy Point, Alexandra, 112hrs 25 19 8 Muddy Creek No. 1, Waikaia, 117hrs 24 8 0 Waikaia, Waikaia, 127hrs ... 24 7 0 Paterson’s Freehold No. 2, Waikaia, 133hrs 20 0 0 Mysterv Flat, Waikaia, 128hrs 19 17 0 New Roxburgh Jubilee. Rox15 18 0 burgh, lOlhrs , . ■Waikaia United No. 2, Waikaia, 123hrs ... 15 10 0 Punt, Clutha River, 127hrs ... 14 1 0 South Waikaia, Waikaia, wk 10 6 0 Ol.risr, Manuherikia, wk 10 2 0 Otago No. 2. Island Block, wk. 10 0 0 Muddy Creek No. 2, Wai8 0 0 kaia, 124-hrs, ... Total 501 14 8 West Coast. -• Worksop, I21hrs 32 1 0 Blaokwater River, 121hrs 23 J30 New Trafalgar, 127hrs 15 11 0 Total ... ••• 71 . 5 0