MINING.

Otago Witness, Issue 3101, 20 August 1913, Page 28

MINING.

WEEK’S MINING NEWS

August 13.

Ine master of the Karaunui dredge reports that the mats show a slight improvement, and a larger return may be expected this week.

The Waikaia dredge had a steady run -last week, but there was not much improvement in the wash. The ground lias changed during the past few days, and is now looking a little bettor. The ground is deeper than it was during the previous week.

At the Maeterton claim the ground became much poorer towards the close of last week. The depth of the ground is increasing, especially on the eastern -side. After all the bottom that had boon stripped was lifted, no improvement was apparent, and the dredge was turned on the sth instant, and beached in the tailings. A meeting to consider the advisability of liquidating the company will be held shortly. The secretary of the Nokomai Hydraulic Sluicing Company reports that No. 1 washed up on Wednesday for a return of 168 oz 4dwts. All plant was removed fromthe paddock, a stone wall built, a nozzle line laid, and a start made to blow off top material on the same day. Sluicing was started on Monday. No. 2 finished stripping the top material on Friday to a depth of 16ft. Cleaning out the lion race is expected to start next week. The weather keeps fine.

August 14. A Press Association telegram from Auckland reports a return from the Komata Reefs of £285 from 200 tons of ore crushed during the month. The master of the Rise and Shine No. 1 dredge reports that last week, the centre of the cut showed fair prospects, but the bottom at the corners was very poor. There were, however, indications of an early improvement. The drift was very troublesome throughout the week. During the past week the Electric No. 1 dredge worked 130 hours for a distance ahead of 36ft. The prospects were fair, and on Saturday were moderate. The depth and width of the cut remain unchanged. but parts of it, especially on the Bannockburn side, are difficult to dredge and are severe on the machinery. The bottom is composed of granite, sand stone, and sticky clay. The sample of gold is (till of a fine nature.

The master of the Electric Xo. 2 dredge reports that ho resumed operations last Friday. Shallow ground, with a. bare reef, was struck, and the dredge lias been pulled ahead.

August 15,

The J’actolus dredge having had to repair two breakages during the week before last, there were only 158 hours’ dredging during the fortnight. The yield obtained wa» 340 z 16dwt of gold.

A return of 270 z 15 dwt for five days’ work is reported from the Success dredge. The master states that the last return of 320 z was won from the south end of the cut, which is practically unchanged in nature. The ground at the extreme south end is 30 feet deep, widi an overburden of 10 feet. At a distance of 30 feet out from the comes the ground is 35 feet deep, with an overburden of 16 feet. Buried timber was encountered during the week, and somewhat hampered operations. The wash ie still hard and tight to dredge. The crosscut being put in by the May Queen Company at the 1000 ft level, in the south end of the ground, is still passing through a good channel of country, but, •o far, nothing of any importance has beefi met with. The face of the crosscut has now reached about half-way to the point where it is expected to cut the Vanguard reef, leaving about a further 160 feet still to drive. The Saxon Gold Mining Company has let a contract for the extension of the crosscut at the .No. 7 level for a further distance 365 feet, which, it is expected, will reach

the vicinity of the Cardigan reefs, below where they were worked at the levels above. This crosscut is now passing through a good class of country, which has existed since the hard bar was passed through, and which, from all appearances, is likely to continue.

August 16. The secretary of the Manuherikia Co. reports a return of 19oz for the week. A return of 330 z lßdwt for a week’s work is reported from the Electric No. 1 dredge. A meeting of shareholders in the Old Hauraki Company was held in Auckland on Monday, and it was decided after a lengthy discussion to close down the mine in the meantime. Since the formation of the company the mine has produced £427,249, of which £222,583 has been distributed in dividends. It was suggested at the meeting that an amalgamation should take place with adjoining mines, the properties to be worked by one strong company. This proposal is to be considered. August 18. At the Olrig claim, the ground has been loose and easy to dredge during the past week, and the wash has shown a slight improvement. At the Waiotahi mine the shaft has been sunk 88ft below No. 7 level, making a total of 616 ft from the surface. The deviation at 1000 ft crosscut is in 367 ft. The manager of the Watchman mine reports that No. 4 rise is up 69ft. The reef is very flat and of low grade, but present indications point to an improvement, as the reef has widened out to about 2ft and shows a little sulphide with zincblend. All the repairing and widening at the Sunbeam level are well in hand, and should be sufficiently advanced by November 1 to' allow the men to be put back in the mine for the purpose of treating ore for the battery. August 19. A telegraphic message was received on the 18th inst. from the postmaster at Alexandra. stating that the Molyneux River was 7ft 3in above the normal mark. The weather was fine. The secretary of the Willowbank Company reports a return of 230 z 15d\vt for nine days’ work. The Rising Sun dredge worked 130 hours last week. Only 30 yards in width on the eastern side of the cut was liottomed at a depth of 42ft, the western end being still too deep to bottom. The dredgemaster was instructed to abandon the deep portion of the cut, and follow its eastern side. Advantage is to bo taken of the first rise in the river to float the dredge down to the bottom boundary.

ROSS GOLDFIELDS

RICH GROUND LOCATED

OPERATIONS TO COMMENCE SHORTLY. Fiioii Ock Own Cokkespondent.)

HOKITIKA, August 18.

The latest news from the Roes mines ie of a mo»t encouraging nature. The company has had numerous obstacles to contend agarnet in the pact. w hat was faulty insulators on the transmission level, and the enormous amount of water that had to be coped with in order to drain the Cassius workings, it will be easily understood that the management’s task has been no sinecure. The installation of the Diesel engine to a very great extent the chance ol foiccd stoppages, which have proved to be fatal as far as the water trouble is concerned. It is needless to point out that when pumping operations were necessarily discontinued for come hours the drainage water was so extensive that the, underground working became flooded. The engine, as is well known, was put in as an auxiliary plant, and although its services have not been frequently requisitioned, it has proved a wise investment, for on each occasion an accident has occurred to the line transmitting the electrical power the machine answered its purpose excellently. Since the Cassius workings have been reached, Mr J. Cock, the manager, hac had every preparation for the successful working of the mine. This has entailed a large amount of development work, the advantage of which becomes apparent when active mining operations are * commenced. Although rich ground has been located in the northern and southern portions of the Cassius workings the management considers, in the interests of all concerned, that before this is lifted and treated that further development work is necessary.. This will occupy perhaps two weeks, and then it is expected that the precious yellow metal will be extracted from the workings in more than payable quantities. Mr G. Davis, chairman of directors, visited the company’s property on Saturday, and was more than pleased with the result of his inspection. On his return to Hokitika lie was interviewed as to what progress had been made. At the outset Mr Davis said that while he was highly pleased with the possibilities, he did not wish to convey .any wrong impressions. He mentioned that* ho had despatched a private telegram to his co-directors in Auckland, a copy of which indicated that he was much impressed with the result of his observations. After stating that good payable ground had been located in the mine, Mr Davis went on to refer to the fact that reports had been circulated to the effect that the present shaft and plant were not adequate to successfully work the mine. This, he declared, was altogether erroneous.

Th a Chairman of Directors was then questioned as to the amount of ground that the plant would cope with, and he replied that the manager estimated that fully 6C-00 trucks per week will be lifted and treated, providing the areas of ground prove lo be extensive. T his should allay the feelings of those who are dubious in regard to the handling capacity of the plant, declared Mr Davis, who went on to say that there was no fear of a sudden inrush of water such

as had occurred in the past, and active mining operations would therefore not be interfered with. At the same time lie mentioned that in mining there were always obstacles to be contended against, but at the present juncture there was less likelihood of stoppages than ever before in the history of the mine. Mr Davis expressed bis complete satisfaction at the manner in which the previous difficulties experienced by the management had been surmounted and referred eulogist’cally to the able manner in which the company’s interests had at all times been conserved. Questioned as to whether there had boon a sudden cutting off of the electrical current last week, Mr Davis replied that such had been the case, but the Diesel engine adequately coped with the emergency and kept the mine free of water.

Reverting to the amount of payable ground, the chairman was asked what area of this was in eight. H<v replied that pay-

able wash had been located in the north and south limits of the Cassius workings, and in a number of faces from which dirt had been tested good gold was obtained. From the foregoing it may be gathered that the reports that good gold has been located in the mine proved to be correct. Those closely associated with the company’s property are very sanguine as to the payablcness of the proposition, the prospects ip some instances exceeding anticipations. Mr Davis left by this morning's train for Christchurch.

foies, from Cromwell. (From Opr Own Correspondent.) CROMWELL, August 15. There has been a considerable amount of rain, but owing to the snow on the high country it has not affected the river to any extent. Mining matters arc very quiet. As the winter is about over operations are now being restarted at Nevis, and several hands are going back. There is very little doing at the Carrick, so far, but probably more men will shortly be started. The Rise and Shine No. 1 dredge is still on the coal bottom, and until this is passed the returns are not likely to be much improved. The No. 2 dredge will be moved over within the next few days to put on the elevator, where it is lying on the tailings near the sunken dredge. It will probably be a fortnight yet before a start is made at dredging. The Rising Sun dredge is doing poorly where it is at present, and it cannot move down to the lower end of the claim until there is a very high river. BLACKBALL COAL MINING COMPANY. (From Our Own Correspondent.) GREYMOUTH, August 14. The output from the Blackball Coal Company's mine still continues to increase day by day. Last week the average was nearly 900 tons per day, while during the last four months- the output has been something like 825 tons per day. To still further increase the tonnage the company has in course of erection another hauling engine. When this is completed it is expected that the output will be increased to something like 1200 tons per day. To further test the property the company has secured the lease of a diamond drill which has arrived, and boring operations will soon be commenced. At the present time there are employed by the company some 30 men and boys. N CROWN MINES. AUCKLAND, August 12. The Crown mines recovered from 1468 tons, milled during July, bullion valued at £2367. ~ WAIHI MINE. (From Our Own Correspondent.) WAIHI, August 12. The crosscut being projected from No. 5 shaft to No. 4 shaft at the 1300 ft level in the Waihi mine, which intercepted the Royal reef at the latter end of last week, passed through 7ft to Bft of quartz, and is now being advanced in country rock. When the connection is made the water from the Dreadnought reef which caused the sinking of No. 4 shaft to be suspended for the time being, will be drained off Riid work in the shaft resumed. AUCKLAND, August 15. The' returns from the Waihi mine for the last four weeks was £25,945 14s "5d from 14,735 tons of ore and 1194 tons of tailings.

GRAND JUNCTION MINE,. (From Our Own Correspondent.) WAIHI, August 14. The drive going cast on, the Empire reef at No. 6 level in the Grand Junction Mine is in good grade sulphide ore. This run of values corresponds with the run about 90 feet in length opened up in the level overhead, but in the bottom workings the values have come in some distance west of the point where the ore was payable at No. 5 level. MOUNT LYELL RETURNS. SYDNEY, August 15. The Mount Lyoll returns from July 10 to August 6 inclusive show that 19,c28 tons of ore were treated, as well as 98 tons of purchased ore. The ore converters produced 383 tons of blister copper, containing—copper, 378 tons; silver, 27,8860 z; and gold, 6830 z. GOLDEN BED COMPANY. An extraordinary general meeting of shareholders in the Golden Bed Dredging Company was held in the Stock Exchange call-room on Tuesday, 12th inst., for the purposes of confirming the special resolution for the reconstruction of the company, passed at a meeting held on the 22nd ult. Mr G. B. Bullock occupied the chair, and there wore nine shareholders present. The Chairman explained the object of the meeting, and moved that the special resolution be confirmed. Since last meeting applications had been received for 1603 shares from shareholders who were entitled to apply for 102 S shares. According to the special resolution the directors had power to proceed with the formation of the new company when 1500 shares had been applied for. As this number had been exceeded, ho took it that shareholders wished the reconstruction proposals to bo carried out. In regard to conditions at the claim the water was still high in the paddock, and another flood had been experienced since the last meeting of shareholders. As soon as the now company was formed the directors would take all the circumstances into consideration ami do what seemed best. The present directors would remain in office until the first statutory meeting of the new company, which would be held soon after registration. The motion was carried unanimously. STEWART ISLAND TTN AND WOLFRAM LODES. • The secretary reports that the 70 tons of rails for the tramline at Pegasus arrived bv the Kent, and were transhipped at Bluff into the Kotaro. On the latter vessel’s arrival at Pegasus it was found that she could go alongside the company’s new wharf quite comfortably, and the rails were discharged without delay on to the siding prepared for them. Professor Waters, the company’s engineer, was well satisfied with the progress that had been made with the tramline, and the completion of the wharf will now allow the men lately employed in its construction to be transferred to the tramline. A further gang of six men were sent down by the Kotaro. and with the advent of fine weather and longer days the work should proceed much more quickly

than it has done during the exceptionally bad -winter experienced at Pegasus. Moveable quarters are being built for the men, and these can be taken along as the work progresses. The plans of the tramway have been sent to the Inspector of Mines for his approval, as the Government grant of £550 will bo claimed as soon as the line is completed. Application is being made to the Postmaster-general, through Sir Joseph Ward, for a regular postal service to Pegasus, as there are now about 20 men in the company’s employ resident there be-, sides those engaged in the fishing industry. RISING SUN GOLD DREDGING COMPANY. ANNUAL MEETING. The eleventh annual general meeting of shareholders in the Rising Sun Gold Dredging Company (Ltd.) was held in the company’s registered office, Cromwell, on Friday. There was a fair attendance of shareholders. The report stated that the dredge had worked 38 weeks, earning 15360 z 12dwt of gold, giving an average of a fraction over 40oz Bdwt for every week worked. The sum of £I6OO has been paid t-o shareholders during this financial year. The retiring directors were Messrs Gilkison and Gair, who, being eligible, offered themselves for re-election. The report of the chairman of directors stated that the directors regretted to have to report the death of one of their colleagues—namely, Mr John Jameson, since the previous annual meeting. The deceased gentleman had occupied.a seat on the board since the inception of the company. The dredge had worked only 38 weeks during the year, due to the fact that advantage was taken of the big flood in April to drop down to the lower boundary, where the dredge got from 50oz to 60oz right up to it. Unfortunately the river fell very fast, and their own dredge was unable to get right down. As a long elevator to work the flat at the lower end of the claim, where they had many years dredging, .was an imperative necessity, arrangements were made with Mr Payne to supply one. It was now erected on the dredge, and the whole of the machinery had undergone an exhaustive overhaul, and the dredge was ready to drop down as soon as the river was suitable! Until then the dredge would continue to work where it was stopped for repairs, as there still existed a good area of unworked ground at the top end of the claim containing payable gold. The dredgemaster, engineer, and crew had given the same attention to their duties and the machinery for which they were noted, end deserved a hearty vote of thanks from the company. The reserve fund at fixed deposit amounted to £1094 13s 2d. Four dividends of Is per share were paid to shareholders last year, but when the dredge started at the lower boundary there was every prospect of regular dividends being paid as formerly. He moved the adoption of the report and balance sheet. The motion was carried.

Messrs Gilkison and Gair, the retiring directors, were re-elected, and Mr Wm. Fraser, of Alexandra, was elected to fill the vacancy caused by the demise of Mr Jameson.

A hearty vote of thanks was accorded to the dredgemaster, engineer, and crew.

Mr Gair drew attention to the fact that they were about to lose the secretary’s services, as failing health compelled him to resign, and he was certain that he was voicing the opinion of his co-directors and the shareholders in saying that they were sorry that such was the case, as Mr Harris had been unfailing in his services to the company and had always done his utmost for the welfare and interest of the com” pany during the eleven years ho had filled the position of secretary. Ho moved that a hearty vote of thanks bo recorded. The motion was seconded by Mr Pocock, and carried unanimously. The usual vote of thanks to the chair closed the meeting. DREDGING RETURNS. Oz dwt gr Electric No. 1, Cromwell, wk 43 18 0 Rise and Shine No. 1, Xlromwcll, 136 hours 23 1 0 Manuherikia, Alexandra, week 19 0 0 Rising Sun, Cromwell, 130 hrs 14 9 0 Olrig, Manuherikia, wk ... 11 9 0 Total ' 11l 17 0 The West Coast. Paetolus, two weeks ... ••• ... 24 16 0 Success, five days 27 15 0 Total 62 II 0 DUNEDIN STOCK EXCHANGE. Business has been fairly brisk in mining and investment stocks during the week, but the dredging market has continued very dull. There is very little movement to record in investment _ lines, most of which have continued in firm demand during the week. A fewer number of linos have been quoted, and the amount of business transacted has been smaller than usual. There has been a firm inquiry for National Banks up to £5 3s 6d. but no sellers have declared. New Zealand Insurances, which were exdividend on Wednesday, have since had sellers at £5 6s, without buyers. National Insurances have had firm buyers at £2 6s 3d, but no sellers have atipeared. Standard Insurances have had sellers at £1 13s and £1 12s 9d, with buyers up to £1 Ils 9d. A fairly large amount of business has been transacted in Union Steams at £2 3s. Prices have shown practically no variation since the beginning of the week, the closing quotations on Friday being £2 2s 9d (buyer) and £2 3s (seller). Buyers of Westport Coals have firmed to £1 3s 4d, but sellers have held for £l 9s. A sale was reported on Wednesday in Mosgiel Woollens at £3 11s 6d, and buyers have been quoted since then at £3 10s 6d. with sellers at £3 11s 9d. New Zealand Drugs have been inquired for at £2 ss, but no sellers have come forward. Buyers of Milburn Limes have firmed to £1 10s, and business has been reported at this figure. Donaghv’s Rope and Twines have had sellers at £l 5s 9d, and Kaiapoi Woollens at £5 3s, but the market has lacked buyers of these lines.

The market opened ouietly on Monday, no business being recorded or reported. Little movement has taken place in the price of most stocks. Talisman Consolidated:; were in firm demand at £2 2s sd, with sellers asking Is more There was practically no variation in Waihis, which had buyers at £2 6s sd, and sellers at £2 7s. Waihi Grand Junctions were offered at £1 2s 9d. but the market closed without buyers. A sharp rise took place in Roes Goldfields,

which were in demand on Saturday morning at 8s 6d. At the noon call over buyers advanced to 10s, with sellers asking Is more, hu' no business took place, and the market closed with a seller at 10s 9d. but no buyer. Buyers of National Banks firmed to £5 4s, cut no sellers came forward. The demand for Westoort Coals was slightly easier at £1 Cs, with seli-jxs holding for £1 8s 9d. There was a firm inquiry for Milburn Limes at IJI 10s, and for Now Zealand Drugs at £2 bs. but the marset contained no sellers of these lines. The following are Monday’s latest quotations, subject to the usual brokerage:— Dredging Stocks Electric —Sellers 4s 9d. Island Block—Sellers 5s fid. Manuherikia—Sellers 3s fid. Mining Stocks. Muddy Terrace —Sellers 15s. Roxburgh Amalgamated—Sellers 3s fid. Ross Goldfields—’Sellers 10s 9d. Progress Mines of N.Z. —Sellers 8s 9d. New Sylvia—Buyers Is Id, sellers Is 3d. Saxon —Buyers 7d, sellers 9d. Victoria—Buyers 4d. Watchman—Buyers 2s-Bd, sellers 3s Id. Talisman Consolidated—Buyers £2 2s 3d, sellers £2 3s 3d. Waihi—Buyers £2 6s 3d, sellers £2 7d. Waihi Grand Junction—Sellers £1 2s 9d. August 13: Ross Goldfields, 8s fid; New Sylvia, Is Id; Waihi, £2 6s fid (two parcels); Waihi Grand Junction, £1 Is 3d; Union Steam, £2 3s ; Mosgicl Woollen, £3 11s fid; Whitcombo and Tombs, £6 4s. August 14; Ross Goldfields, 7s (two parcels); Waihi, £2 7s; Waihi Grand Junction, £1 2s; Union Steam, £2 3s (three parcels). Sales reported; Waihi, £2 6s -9d; Waihi Grand Junction, £1 Is fid; Milburn Lime, £1 10a; Union Steam, £2 3s. August 15: Ross Goldfields, 7s fid. August 16.—Saxon, 9d; Union Steam, £2 3s. Sales Reported.—Union Steam, £2 ss; Waihi Grand Junction, £1 2s 9d. AUCKLAND STOCK EXCHANGE. AUCKLAND, August 18. The following business was done on the Auckland Stock Exchange to-day :—Occidental, 9d; Saxon, Bjd to 7>jd; Ross, 9s fid and 10s: Crown, Is Id; Waihi, £2 6s 9d; Bank of New Zealand, £lO 10s: Taupiri Coal, £1 Is 9d. WELLINGTON STOCK EXCHANGE. WELLINGTON, August 13. The following sales were made on the Wellington Stock Exchange to-day:—Ross Reconstructed, 9s 9d ; Waihi, £2 7s; Waihi Grand Junction. £1 2s 9d. The sales reported were ; —Talisman Consolidated, £2 2s; New Zealand Crown, ✓ls 2d; Waihi £2 7s. CANTERBURY STOCK EXCHANGE. CHRISTCHURCH, August 18. The following sales were made on the Canterbury Stock Exchange to-day:—Bank of New Zealand, £lO 7s fid; Christchurch Gas (cum. rights), £7; New Zealand Insurance, £5 5s fid ; Christchurch Meat Co., £ls 5s 4d ; Taranaki (N.Z.) Oil Wells,_ 12s fid; Talisman, £2 2s.