MINING.

Otago Witness, Issue 3029, 3 April 1912, Page 28

MINING.

WEEK'S MINING NEWS

March 27. The secretary of the Sandy Point Company reports a return of 260 z for last week's work. The Karaunui dredge put in a good run of 132 hours last week. The prospects continued very fair, and there was no change in the nature of the ground, except that it was getting deeper in places, and thus causing the dredge to go down to about 50ft below the water level. The secretary of the Nokomai Hydraulic Sluicing Company reports that four shifts were lost in No. 1 last week through a slip in the nace. The wash-up for No. 2 yielded 990 z 18dwt. The manager reports that he is just on the edge of some old drives which are showing along the face of the workings. He expected to have the castings changed and the plant out of the paddock and l a start made to blow off top material by Tuesday last. No. 3 made good progress, although four hours were lost owing to a slip on Tuesday week, and another on the 24th. Tlie weather during the week was unsettled. The manager of the Island Block Company, writing under date 26th inst., reports that the return of 440 z 27dwt, as telegraphed on Saturday, was obtained from the bottom wash overlying a fairly soft schist bottom, which dips away towards the road. The bed of wash exposed is of unusual thickness, and it also shows phenomenally large quantities of Maori stones. The best prospect are obtained from the top layer, which occurs at a height of 7ft above the bottom. The wash gonerallv is vary rough and hard, and is consequently severe on the elevator castings. A wash-up will take place next w r cok from that portion of the bottom lying on the road side of the elevator, after which the block of ground lying between the old paddock and the present one will bo put through. Prospects in Uws face are fair, and the ground should yield payable returns. There is an abundance of water, and both the dams are overflowing. March 28. The secretary of the Ladysmith Sluicing Company, operating near Roxburgh, reports a return of 770 z for four weeks' work. The Golden Bay Scheelite and Gold Company has secured the services of Mr Evans, late- manager of the Grand Junction Company, Waihi. The master of the Olrig dredge, reporting for last week, states that ho is o;i some fair-looking wash at present, and the dredge is heading out towards the railway. The 909 dredge is still unable to resume work, and is under the charge of a caretaker. The maiden ground still in the claim is unusually deep and cannot be treated with the river at a level which formerly proved favourable.

In Ins report for the week ended March 23, the master of tno Success dredge states that eight shifts were put in on the deep ground, and the balance on the shallow end. There was practically no change to report, but an improvement was anticipated dining the current week, as more time would probably be spent on the deep ground. The Nevis claims continue to have a most favourable run, and are hard at work in view of the approach of the winter months, which will necessitate the cessation of work. Messrs Graham and party had another small wash-up recently, but epiito satisfactory from the ground treated. Another handsome yield is expected later. The contractor effecting repairs on the Electric No. 2 dredge expected to be finished by Monday, the 25th inst. Owing to his not having completed sooner, the repairs which arc required to the bottom tumbler had to be deferred. The new flanges, which are elso to hand, will bo token aboard and put in. Dredging will probably be resumed almost imiriediately.

Reporting for last week the master of the V'"«iikaia dredgo stated that since Wednesday last the section directly below and adjoin-

ing the tailing deposited in 1910 was carried ahead to-.va.rds the east terrace. A scoured bar about 10ft deep has come in. There was no sign of wash in the present section, although it is directly below where good gold was formerly won. It will now be carried far enough ahead to enable the dredge to turn down stream. The Rise and Shine dredge made Bft ahead last week The cat was 600 ft wide and from 42ft to 50ft deep. There was no improvement in the quality of the ground. All the preliminaries in connection with a second dredge for the company are now complete. The work of dismantling the Golden Gem dredge will be proceeded with at once, and tenders for the cartage of the material are being arranged. A contract for a supply of new buckets has been made and all other necessary arrangements are in progress. During last week the Electric No. 1 dredge worked 150 hours for a distance ahead of 21ft, The formation of the bottom still continued to be of coal and pipeclay. The prospects during the first part of the week were good, but eome large rocks have blocked part of the cut in the deepest and best part of the ground, and towards the end of the week the prospects were only fair. The silt has been giving a good deal of trouble, and it does not discharge well from the buckets. The sample of gold was of a mixed nature. The river was receding and the weather was fine. The master of the Lady Roxburgh dredg; reports, under date 25th inst. :—" Dredging was resumed last night, and all parts of the machinery are running well. We have started on the east side of the river at the lower end of Malone's Beach, and so far have found the river conditions favourable." March 29. The secretary of the Koputai Co. reports a. return of 40oz 12dwt for 134 hours' work. The Waikaia dredge washed up on the 28th for a return of 21oz 14dwt for 132 hours' work. The secretary of the Masterton Company reports a return of 16oz 16d\vt for 133 hours' dredging. The manager of the Undaunted Sluicing Company at Ophir reports a total return of 104 oz for two months' work. During that time the elevator was shifted. There is at present a fairly good water supply. March 30. The secretary of the Roxburgh Amalgamated Sluicing Company reports a return of 760 z 3dvvt for one month's work. The Electric No. 2 dredge resumed operations for the season at 3 o'clock on the 29th. The machinery was all running well. The gorge dredges are still idle, awaiting a favourable river. The heavy rain which fell early in the week will doubtless cause a rise in the river, and they will have a longer wait than was anticipated. The Sandy Point dredge worked 9ft ahoad last week on a cut 100 yards wide and of an average depth of 30ft. The class of ground and the prospects continued much the same as in the previous week. The Surprise dredge on the Manuherikia is still working. Great difficulty i 6 being experienced in avoiding old ground, consequently the returns are small. Mr J. Coulson, jun., is now in charge of the dredge, Mr D. Smith having resigned. Says a Greymouth correspondent of the Westport Times : vailed at Blackball when it became known that a rich find had been made at the Paparoa Ranges in a claim adjoining the Old Taffey. It was ascertained that from a orushing of 20 tons of stone 30oz of gold was obtained. The fortunate owners have been for the past threo years prospecting various parts of the Paparoa Ranges without any definite results. The reef in sight shows every promise of continuing for some considerable time. April 1. Work was resumed by the Blackwater River dredge on Friday. In reporting a return of 2460 z 3dwt 14gr up to March 29 the manager of the Muddy Terrace Sluicing Company stated that all the plants were working with a full supply of water.

April 2. A dividend (the twenty-sixth) of Is per share has boon declared by the Blaokwater River Company, and will be payable on the 4th inst. Messrs Ramsay and Hunter have taken up a hydraulic- claim in the vicinity of the Big Beach, Arrow River, tha application for the claim and water-right out of Bracken's Creek, having been granted. The work of erecting the pipe line will be proceeded with at once. The master of tho Rising Sun dredge reports: ''We dredged live days last week on u cut 100yds wide, and worked ahead 12ft. Ono day was occupied effecting minor repairs. There is no change to report in the nature of the ground. The machinery is running well. Owing to the hqliday on Good Friday, the wash-up will be made on Thursday." A Press Association message from Reefton reports the New Big River results to be: Battery, 5470 z Sdwt for 637 tons crushed; cyanide, 70oz 17dwt—the approximate "-"alue being £2375. Notes fi m Grey mouth. u'hou Our Own Correspondent.) GREYMOUTH, March 27. The first coal mine in the Inangahua district to bo connected with the RecftonGreymouth railway line is situated at Bourke's Creek. The proprietary is now making arrangements to export on a large scale. Reefton coal has long enjoyed the reputation locally of being splendid for steam and household purposes. The quartz reef lately discovered in Broadway, Reefton, is to be worked by a syndicate entitled " The Chance Prospect ing Syndicate." It will prospect energetically a quartz lode, the assays from which have proved its payableness. The area is held as a prospecting license of 100 acres by Messs Knight and Kenning. This miniparty has advanced a main drive 2(jft, following the lode. For such a distance it averaged a width of 2ft 6in, and proved l payable by assays. It is the intention of the syndicate to drive at least 500 ft, and it is probable that the Government will subsidise the undertaking. March 29. At Waiuta Messrs M'Ewan and party struck a new reef in the north end of their claim, bearing good gold prospects. The distance is only about 10 chains from Waiuta road, and about 20 chains from the Saraty Syndicate's claim. KEEP-IT-DARK MINE. (From Our Own Corresponuent.) GREYMOUTH, March 26. The mine manager of the Keep-it-Dark mine reports as follows for the four weelca

to March 23: —" Stoping has been carried on over No. 7 level. The stone here is small and irregular. The intermediate from the stopes has been produced 33ft. Sometimes the stone here has been 3ft wide, but at present it is pinched. The south dirive on No. 7 level has been cleaned out and timbered, and sft of driving done. The reef formation is about Ift wide, carrying small pieces of quartz. The winze below the No. 7 level lias been sunk 15ft, making a total depth of 34-ft last week. The stone pinched here. No. 8 level has been produced 36ft. We have a big body of irregular shape ale stone over the full width of the drive, and we are leaving hard stone on the hanging wall side. We have started to rise. It is up 9ft from the top of the drive. Repairs are being carried on at No. 6 level. We were unfortunate last week in breaking the spur and pinion wheels of the winding engine, which delayed us four and a-half days. We have replaced them with other wheels which we had on the ground, and the engine is working all right. Eight hundred and fortyone and a-half tons of quartz have been sent to the battery and 840 tons crushed for a return of 1920 z 14dwt of melted gold from the battery and 117 oz lldwt from the cyanide process, making a total of 310 oz sdwt." WAIHI GRAND JUNCTION COMPANY. (From Our Own Corr'Esjfonpfnt.) WAIHI, March 27. A make of quartz has been intercepted in the south eust crosscut, which is heing advanced to intersect the Royal reef at No. 6 level in the Waihi Grand Junction mine. According to the survey the Royal reef is not quite due yet, but the management is of the opinion that the quartz to hand is the hanging wall section of the lode in question, in which case the indications are that a strong body of ore will be disclosed at the low level. Until the reef has been penetrated for some distance nothing definite can be said concerning its values, but it may be mentioned that the stone at the point of the interception is of promising appearance. At a point 60ft to 70ft overhead a crosscut was projected through the reef in No. '9 winze from No. 5 level, and proved the reef to be 47ft wide, of an average value of £3 9s 6d per ton.

CONSOLIDATED GOLDFIELDS. (From Our Own Correspondent.) GREYIMOUTH, March 28. The Consolidated Goldfields of New Zealand (Ltd.) to-day issued the following report for the quarter ending December 31, 1911 -.—Driving and sinking: Number of feet driven in the Progress mine, 337; Wealth of Nations, 438; Elackwater, 710. Risen and sunk (exclusive of stopes): Progress, 184 ft 6in; Wealth of Nations, 91ft; Blackwater, 149 ft 6in; shaft at Blackwater, 105 ft 6in. Reef: Distance cxjwsed in feet: Progress, 380 ft 6in; Wealth of Nations, 259 ft; Blackwater), 516 ft (does* not include reef exposed in rises). Assay value in dwfcs: Progress, 2dhvts 17|grs a Wealth of Nations, 6dwts 7.o7gre; Blackwater, 12dwts 3grs. Stoping: The tonnage sloped (including oro from development faces); Progress, 8226; Wealth of Nations, 6912; Blackwater, 8994. Milling ore received from mines: Progress, 8226 tons; Wealth of Nations, 6512 tons; Blackwater, 8994 tons. Oro milled: Progress, 8625 tons; Wealth of Nations, 6512 tons; Blackwater, 8994 tons. Cyaniding (tons treated) Progress, 5925 tons ; Wealth of Nations, 4128; Blackwater, 4804. Gold production (total vield per ton milled in fine dwts) : Progress, 4.63, Wealth of Nations, 9.42 Blaekwaer, 10.54. Working expenses and cost: Progress, £9538 4r, 6d; Wealth of Nations, £5887 16s 2d; Blackwater, £10,381 13s 4d. Cost per ton milled- Progress, 22s 1.38 d; Wealth of Nations. 18s Id; Blackwater, 23s 1.03 d Revenue value of gold produced : Progress, £8490 12s lOd; Wealth of Nations, £13,037 Is 9d; Blackwater, £20,141 lis 6d. Value per ton milled: Progress, 19s 8.23 d; Wealth of Nations, 21s 11.48 d; Blackwater. 44s 9.47 d Working profit (amount): Progress, £1047 lis 3d loss; Wealth of Nations, £7149 5s 7d profit; Blackwater, £9759 18s 2"d. Per ton milled: Progress 2s 5.14 d loss; Wealth of Nations, 215'11.49d profit; Blackwater, 21s 8.44 d. Capital expenditure: Progress, £2241 2s 6d: Wealth of Nations, £3879 4s; Blackwater, £5640 8s Id (includes prospecting and options of the Blackwater Mines. (Ltd.). Owing to the continuation of the Labour dispute and the consequent irregular output, the declaration of the usual half-yearly dividend has been deferred.

ROSS GOLDFIELDS. AUCKLAND, March 28. The ordinary general meeting of the shareholders in the Ross GoldfieJds (reconstructed) Limited, was held a.t the Chamber of Commerce, Mr Geo. F. Davis, of Christ church (chairman) presiding. The annual report of the directors stated that the following work is at present being proceeded with: The re-erection of a mile of transmission line; the deviation of a portion of the Government telegraph line; the deviation of the company's lino near Kanieri Forks; strengthening the connecting auxiliary pipe line; alterations to the main valves; overhaul of the whole of the tansmission line; and the erecting of necessary repairs where possible. Tenders had been called for work done by contract. It was estimated that the cost of these alterations and repairs would be approximately £4OO. A tender had been accepted for i]w Diesel oil engine on the generator, which is to he set for use as an auxiliary motive power to the present hydroelectric plant. The contract, price was £3457 10s. All the directors (Messrs Geo. F. Davis, W. R. Wilson, John C. Colbeck, and 11. M. Smyth) wore re-elected. MOUNT LYELL RETURNS . MELBOURNE, March 29. The Mount Lvcll Company from February 22 to March 20 treated 19,240 tons of ore, which produced 431 ton.s of blister copper, containing 426 tons of copper, 30,6530 z of silver, and 5500 z of gold. NEW SOUTH WALES MINERAL OUTPUT.. SYDNEY, March 30. The value of tho- mineral output of the State in 1911 was £9,758.000, an increase of £1.021,000 on the previous year. The aggregate value of the mineral wealth to the' end of the year is £217.877,000. Coal, gold, siK-er, and lead head the list. AUCKLAND NOTES AUCKLAND, March 29. The first return from the operations of the Waihi-Paeroa Gold Extraction Company (Ltd) is £1412 14s lOd, from 3845 tons of tailings treated from March 8 to 23 inclusive. This, with 1500 tons pro-

viously treated, the value being still in solution, gives 7s 4d per ton actual cxtiaction, plus 9d per ton estimated value of slag still untreated 1 , making 8s Id actual eiVbnated extraction, at a working cost of 3'3 9d per ton. NEW GOLDEN RUN COMPANY. The New Golden Run Dredging Company has almost completed the work of overhauling, and operations will soon be commenced. The tailings elevator, which is now over 100 ft in length, has been reinforced from end to end by the addition of two sets of diagonal stays of double the usual strength running throughout the whole length of the framing. This makes the elevator practically rigid and capable of being further lengthened if required. New fnd complete sets of sop and bottom rollers, carried on 2£in steel shafting running in hard iron bearings, have been fitted. The trays are of Mr F. W. Payne's design, and these have given the utmost satisfaction wherever adopted. The elevator will be driven from the top. the power lx>ing transmitted by wire, rope from a shaft near the top of the main framing. The whole of the material for the alterations was made and supplied by the Dunedin Engineering Company, the workmanship reflecting credit on that firm. The proprietors are looking forward with confidence. anticipating that, with such an efficient machine as they now possess operating upon the ground lying immediately ahead of the dredge (which has been tested and proved of great richness), some sensational returns should be secured. The company is at present considering applications for the position of dredgemaster. THE OTAGO COMPANY An extraordinary general meeting of shareholders in the Otago Dredging Company was held on March 26. Dr Martin presided over an attendance of some eight shareholde'-s The Chairman said they all knew the purpose for which the meeting had been called —namely, to consider the advisability of goine; into liquidation. The directors had had a long talk with the manager (Mr G. Rennet.) some little time ago, and he had given it as his opinion J .hat the company would have to spend £IOOO or £ISOO before it would have any chance of doing very much more in the way of production. In that case they could not carry on. All the reserve fund had been used up, and in addition they' were some £2OO in debt —a state of affairs which necessitated either reconstruction or liquidation. He moved that the company be voluntarily wound up. In answer to a question as to what the value of the dredge was, Mr Rennet said it was difficult to estimate, as there was not a very keen demand for dredges at the present time. The engine and boiler were both good, the former being the only reversing engine on the river, and they might find it more advantageous to sell the parts of the dredge separately than as a whole Continuing, he said ho was unable to say anything in regard to prospects. There was a large amount of untried ground in the river, for which two companies had been floated and two dredges put under construction, but not completed. Mr J. C. Marshall, in seconding the motion, said he did not see how the company could carry on. Liquidation was the best way out of the difficulty. The motion was then put to the meeting and carried unanimously. Mr J. C. Short proposed that the secretary (Mr A. G. Fenwick) be appointed liquidator. He would watch the interests of all in an entirely satisfactory manner, and he was sure they would have no reason to complain. The motion was seconded by Mr R. Neaves and carried. O nthe motion of Mr J. C. Marshall, a hearty vote of thanks was carried to the secretary (Mr A. G Fenwick) and to the Board of Directors for their excellent services. Mr Short stated that the affairs of the company had been carefully and well managed by their dredgemaster. He had kept the Board of Directors veil posted with information, and had at all time? carried out his work to entire satisfaction. He thought the shareholders had been well served, and Mr Rennet, with the rest, deeply deplored the turn events had taken. It was a well-known fact that dredging claims had only a certain life, and he thought they had done fairly well out of theirs. Thoy had had the claim for some 16 years, and during that time had received plenty of dividends. It had been a paying- concern while it Lifted. He moved—- " That a vote of appreciation to the dredgemaster and crew by recorded in the minutes " This was carried unanimously, and the meeting concluded with a vote of thanks to the chair. DREDGINt; RETURNS. Returns from 14 dredges at work throughout. Otago and Southland have come to hand during the past week, showing the total gold yiold to have been 4020 z lOdwt 12gr, or an average of roughly 290 z per dredge. Two West Coast dredges obtained a total return of 90oz 4dwt. The following are the details:—

WAIHT COMPANY. AUCKLAND, March 31. Cabled advice has been received by Mr 0. Rhodes, local director of the "Waihi Company, that the London directors propose to hold the annual meeting on May 9 Thcv announce that the total profit for tho year'l9ll is £371.500, as ncrainst £559,000 for 1910. Dividends for 1911 amounting to £272,750, aa against £396,700 for 1910.

have already been paid. In addition to £38.850 for income tax, an appropriation o» £35,000 f or depreciation, as against £37.000 last year, is now proposed, and the balance to bo carried forward will be £82,600. being about £25,000 more than the amount for tho previous year. DUNEDIN STOCK EXCHANGE. Union Steams were slightly firmer on 'Change yesterday ihan on Saturday, and after business had taken place in them at £2 7s, the market closed with a buyer at £2 6s 9d, and a seller at £2 7s 9d. New Zealand Shipping shares were also firm, and whereas buyers were offering £l4 6s at tho end of last week, they were quoting £l4 16s yesterday without lesult. Otago Daily Times shares showed a slight hardening iendency, and two sales were rei>orted at £2 12s, while the market closed with a buyer and a seller of odd lots at the same ficrure. National Insurances and Westport Coals were even, sales being recorded in the former at £1 18s 6d, and in the latter at £1 7s 3d. In the dredging and investment division tho market was quiet and business dull. Tne following are Monday's latest quotations, subject to the usual brokerage : Dredging Stocks. E'eetric— Sellers 4s 6d. Golden Bed'—Buyers 9s 6d, sellers 10s 6d. Mining Stocks Nokomai Hydraulic—Buyers 18s, sailers £l. Talisman Consolidated —Buyers £2 6s, sellers £2 7s. Waihi—Buyers £1 19s, sellers £2. Waihi Grand Junction —Buyers £1 9s, sellers £1 9s 6d March 26. —Talisman Consolidated, £2 7s 6d. Sales reported : —Westport Coal £1 7s 3d, Waitangi Is 3id, New Zealand Drug £2 lis 6d, Trustees Executors £3 2s 6d, Union Steam £2 3s. March 27.—Waihi Grand Junction, £1 8s 3d ; Union Steam. £2 10s 3d (four parcels); Westport Coal. £1 7s 3d. Sales Reported.—New Zealand Paper Mills, £1 Is 6d; Waihi Grand Junction, £1 8s 3d; Union Steam, £2 10s; Trustees Executors, £3 2s 6d. March 28.—Union Steam, £2 9s (two parcels). Sales Reported.—Lnion Steam, £2 10s 3d, £2 10s 6d. March 29 Waihi Grand Junction, £1 8s 6d, £1 9s 3d. Sales Reported.-—Union Steam, £2 9s: Waihi Grand Junction, £1 9s (two parcels). March 30.—Union Steam, £2 6s (two parcels), £2 6s 9d. April 3.—Union Steam, £2 7s; Westport Coal, £1 7s 3d. Sales Reported.—Otogo Daily Times, £2 12s (two parcels); National Insurance, £1 18s 6d. AUCKLAND STOCK EXCHANGE. AUCKLAND, April 1. The following business was done on tho Auckland Stock Exchange at the 3.15 p.m. call to-day: —Occidental (con.), Is 4d; Waihi Grand Junction, £1 8s 9d; New Zealand Crown, 2s lOd ; New Zealand Insurance, £4 15s; Union Steam, £2 6s 9d; Auckland Gas, £3 9s; Auckland Trams (pref.), £l 3s 3d. WELLINGTON STOCK EXCHANGE. WELLINGTON. April 1. The following sale was made on the Wellington Stock Exchange to-day:—Talisman, £2 7s. Tho following sales were reported: Waitangi, Is 4£d, Is 4£d; Taranuki Oil, £1 Is 3d. Union Steams were quoted as follows: Buvens £2 7s 3d, sellers £2 Bs. Tarar.aki Oil,'sellers £1 Is 6d.

0/.. dvvt. gi Electric No. 1, Cromwell, 145hr-! 67 6 0 Koputai, Waikaia, 134(n-fi 40 12 0 Hartley and Riley, Cromwell, 190hrs 38 0 0 Rising .Sun, Cromwell, 5 days 35 3 0 Kar-aumii, Alexandra, week ... 34 0 0 Oolden Hed, Ettriok, 126hrs 33 15 0 Waikaka United No. 1, Waikaka, 132hrs ._ 26 9 0 Waikaia, Waikaia, 132hrs ... 21 14 0 ftan<lv Point, Alexandra, 127hrs 20 15 12 Rise and Shine, Cromwell, 126hrs 20 4 0 Golden Treasure, Millers Flat, 140hrs _ 20 0 0 Masterton, Waikaia, 133iirs... 16 16 0 1911, Alexandra, broken week 16 0 0 Oh'ig, Alexandra, week 11 16 0 Total 402 10 12 The West Coast. Worksop, 128hrs 74 4 0 Success, 116hrs 16 0 0 Total 90 4 0