MINING.

Otago Witness, Issue 3112, 5 November 1913, Page 28

MINING.

WEEK’S MINING NEWS

October 29. Tho Raraunui dredge secured a return of 18oz 15dwt for 130 foul's’ work last week. The machinery is running well, and the dredge is working with full buckets continuously. The master of tho Olrig dredge reports that the dredge hud a run last week, but tho ground was poor. The dredge will have worked into the corner of the tailings in about a fortnight’s time, and will then be turned upstream again. The secretary ot tire Nokomai Hydraulic Sluicing Company reports that stripping off top material at No. 1 was finished on Saturday. A shift was lost during the week through a leak in the race. At No. 2 the paddock has been completed, the result being 85oz. No. 3 had a full week’s sluicing, and good progress has been made. October 50.

The master of the Olrig dredge report that lie had a fair run last week, but the ground was poor. The corner of the tailings will be worked out in about a fortnight’s time, and the dredge will then be turned up stream again. The Electric No. 1 dredge had a run of 124 hours last week for a distance worked ahead of 30ft. The cut has been extended towards the Bannockburn side, and the prospects are still moderate. The bottom consists of sandy pipeclay. The amount of gold won was 15oz 13dwt, and consisted of a. mixed sample of rough and fine gold. The Success dredge. had a good run of 120 hours last week for a return of 390 z 15dwt, all won from the north end of the cut. The wash was blue in colour, and was much finer than had been the case for some time. The bottom varies very considerably in depth, ranging from 7ft to 33ft. The gold-is of a very fine sample, and all the machinery is running well. The same part of the cut is being worked during the present week. The master of the Rise and Shine No. 2 dredge completed the work of fitting the new crown wheel, and attending to one cr two minor details on Friday evening, and resumed operations at once. As the river is too low for this dredge to float across to the sunken dredge, a cut is still being worked near the building site at the boundary. The indications during the past few weeks of an improvement in the ground at the Rise and Shine No. 1 claim materalised to a great" extent last week, and the return was the best for some time. The gold made from the middle of the cut to the eastern side of it, and there was less coal bottom. During the week the prospects were very satisfactory and still continue so, giving every indication of a run of profitable returns. The recurrence of poor returns was causing a little anxiety to shareholders, but those who have followed the operations of the dredges in this locality (says the Cromwell Argus) were never in doubt as to payable ground coming in at any time. The company has had a very heavy expenditure for a lengthy period, and it is hoped the figures of last week will be maintained and increased. October 31. The manager of the Waiotahi mine reports that the work of cutting cut and timbering the new chamber at the bottom of the main shaft is still in hand, and should be completed this week ready for the resumption of operations in the sinking of the shaft to the 1000 ft level. November 1. The master of the Manuhorikia dredge, in i-enorting n*i Fr davii return of 230 t for five days’ work, stated that the river had risen 12ft 6in, and the dredge had been closed down in the meantime. A wash-up on the Karauniu dredge on Friday resulted in a return of 240 z 1 ii v\ t- for five days’ work. Tlrs return includes soz lldwt from the save-all. A return of 16oz 19dwt for 128 hours’ work is reported from the Electric No % 1 dredge. A message was received on Friday from the master stathig that the i-iv-i- had r-'-et'-n <lft. ami 'hat th" dredge had been closed down in the meantime. The master of the Waikaia dredge reports that during last week the dredge had a

steady run, and everything worked well. The dredge has covered No. 38 bore, and is now close to No. 37. The ground is 25ft deep, and a face 55yds wide has been opened up. There is no improvement in the wash so far. The dredge will reach M‘Gregor's freehold in about two weeks, and will then be turned, west. It is hoped that the returns will then improve. November 3. The return of 40oz 3dwt for 151 hours’ work, reported from the Rise and Shine No. 1 dredge, indicates that the dredge has again struck payable ground. The master oi the Rise and Shine No. 2 dredge, in reporting a return of 15oz for 125 hours’ work, stated that the river was up 3ft and was still rising. In the drive west from the crosscut at No. 4 level in the Waitangi mine the main reef is getting more delbied, and carries better material. No. 2 rise is up 27ft. The ore looks well, and the eastern end is heavily mineralised. Sinking at No. 3 level, the ore looks well and carries fair values. At the Watchman mine the reef in the stope north of No. 4 rise averages 3ft of high-grade sulphide ore, and occasionally shows gold freely. In No. 1 rise the hanging 'wall portion of the reef is about 4ft wide, and occasionally shows strong colours of gold. The footw'ali is 3ft in width, divided by 12m of sandstone. In the north face, at the Sunbeam level, the reef is 3vjft wide, showing nice zinc blend. The ore is being saved for treatment. November 4. The postmaster at Alexandra telegraphed on Monday morning that the Molyneux River was at the i3ft 9in mark. The weather was fine. A return of 13oz 2dwt is reported from the Pactolus dredge for 150 hours’ work.

'' otcs from Cr< imrell. (From Ouk Own Correspondent.! CROMWELL, October 31. Heavy rain fell during the week, and there has been a considerable rise in the rivers, but this has now little effect on the . dredging, as the gorge dredges are pracI tically nil. During the past fortnight there has been I a decided improvement in the Rise and I Shine No. 1 ground, and the general opinion ; is that payable ground is likely to continue | for some time. The No. 2 dredge is worki mg steadily near the top boundary, but as . the Clutha River is still rising steadily it is ! possible that it may reach a level sufficient | to enable this dredge to be floated across ! to the proposed scene of operations near j the sunken dredge. ] Operations on the Garrick are still on a ; small scale, eight or 10 men being engaged. An amalgamation of the properties on the Carnck is spoken of, and negotiations with that in view are said to be proceeding, in which case there will be greater . activity at an early date. Notes-from West’('oast. (From Our Own Correspondent.) CREYMOUTII, October 23. j Last week's return from the Pactolus ; dredge was 14oz 3dwt of gold for 112 hours’ i dredging. ) The return from the New Big River mine for October was 5260 z 12dwts of gold from 460 tons. The cyanided sands (400 tons) produced lOloz Bdwt of bullion. The total estimated value is £2360. HOKITIKA, October 31. The Golden Flat Mining Company has boon floated to work a 100-acro claim situated on Kanieri Flat, about three miles from Hokitika. It is proposed to work the area, by means of the Kershaw pump, which has proved so successful in mining deep ground in Australia. Tiie power is to be derived from a 300-h.p. high-speed steam engine. The claim has only been partiallyworked, for the reason that the miners in the earlier days were prevented from exploiting the deep levels owing to the lack of drainage facilities; and competent authorities regard the proposition as being a particularly good one, the average tests, according to reliable reporta, being 16.7 gr to the cubic yard. The capital of the company is £i6,000, a good amount of which has been subscribed by local residents. THE WAIHT MINE. (From Oub Own Correspondent.) ! WAIJII, October 23. The Waihi Gold Mining Company’s main

O pump at No. 5 ehaft has resumed working, and the management do not anticipate that there will be any further stoppage of pumping operations.

COMPARATIVE DREDGING RETURNS. The following table shows the number of Otago and Southland dredges at work weekly, with their return, together with the figures for the corresponding periods of 1912, 1911, and 1910. Pennyweights and grains are omitted in each instance: —

NEW BIG RIVER MINE. REEFTON. October 28. The followinc is the New Big River return : —5260z 12dwt from 2160 tons; cyanide, lOloz Bdwt; estimated value, £2360. DREDGING RETURNS.

' DUNEDIN STOCK EXCHANGE. ; Probably as a result of the present inI dusirial upheaval, the majority of stocks j of all classes have displayed a tendency to 1 ease during the past few days. [ Although investment stocks have been | fairly freely quoted throughout the week, ; only a very small amount of business has 1 been transacted. National Banks had buyers up to £5 7s fed, with sellers at £5 Bs. Inquiries have been made for Union Banks at £55 12s, and £55 17s 6d, without sellers. Bank of New .Zealands have been placed on the market down to £lO 16s, but no buyers have been induced to come for- : ward. Occasional buyers of National Insurances have been quoted at £2 Bs, and of ; Standard Insurances at £1 11s 6d, with I sellers of the latter at £1 12s 6d and £1 12s. Union Steams have fluctuated very little. Buyers of the ordinary jsfi.o have been quoted up to £1 4s 3d, but sellers have boon unwilling to quit below £1 5s 4d. A sale of the preferential issue was reported yesterday at 19s 6d, with buyers on ’Change at 19s sd. and sellore asking 2d more. Westport Coals have shown a tendency to ease. A parcel changed hands on Thursday at £1 10s 6d, the market closing on Friday with further sellers at £1 10s 9d, and buyers offering £1 9s 6d. New Zealand Paper Mills were disposed of on Wednesday at 17s. Tliis line- had a seller on Friday at 17a 6d, without a buyer. Milburn Limes have had sellers at £1 lie, and Mosgiel Woollens at £3 14s, but buyers of these lines have remained unquoted. A sale of the former stock was reported on Friday at £1 10s. Friday’s market contained a buyer of New Zealand Drugs at £2 5s but sellers were not- quoted below £2 6s. , , . Only a small amount of business was transacted on ’Change on Monday, but a brighter tone pervaded the market, and a considerable improvement was noticeable in owll e lines. A F~col of Hess Goldfields changed hands at 11s lid, and further lots were for sale at that price, with buyers at 11s 9d. The demand for Talisman Oonsolidateds was slightly firmer at £2 Is 6d, but sellers were unwilling to transact business below £2 2s 6d. A sale of Waihis was reported at £2 16s 3d. and the market contained further buyers at £2 16s, with sellers at £2 17s. Waihi Grand Junctions showed a tendency to further increase in price. Buying offers were recorded at £1 5s 9d, with sellers holding out for 6d more. In the investment stock section buyers of National Insurances advanced to £2 8s 6d, but no sellers came forward. Union Steams (ordinary) were disposed of at £1 ss, with further buyers at £1 4s 6d, and sellers at £1 5s 3d. The preferential issue was even with recent prices at 19s 6d (buyer) and 19» 9d (seller. November 3.—Roes Goldfield, 11s lid; Union Steam (ordinary), £1 ss. Wr, m Rarw-ir*aH.—Waihi. £9. Ifr; 3rl, The following arc Monday’s latest quotations, subject to the usual brokerage:— Duedging Stocks Electric—Sellers 4s 3d. Island Block —Buyers Is 3d. Rise and Shine—Sellers £1 6s. Sailor’s Bend —Sellers 2s 9d. Mining Stocks Roxburgh Amalgamated—Buyers 2b 6d, sellers 3s fed.

Ross Goldfields—Buyers 11s 9d, sellers 11s Progress Mines of New Zealand Buj-ers 7s, sellers Bs. , ■ , n . New Sylvia—Buyers Hid, seders Is 2d. Old Ham-aki—Sellers 3d. Talisman Consolidated —Buyers £2 Is ocl, sellers £2 2s 6d. . Waihi—Buyers £2 l&s, sellers £2 17s. Waihi Consolidated —Sellers Is 9d Waihi Extended —Buyers 3d. Waihi Grand Junction —Buyers £1 5s "cl, sellers £1 6s 3d. October 23. —Ross Goldfields, 13s 6d. Sale Reported. —Tasmanian Copper, 5s +d. October 29. —Ross Goldfields, 13s 6d (two parcels) ; Waihi, £2 16s (two parcels), £2 15s 9d; New Zealand Paper Mills, 17s Sale Reported.—Talisman Consolidated, £2 3s. „ , /x ;Qct. 30.—Ross Goldfields, 13s 9d (two parcels); Waihi Grand Junction, £1 5s 4d, £1 5e 3d (four parcels); Westport Coal, £1 Sales reported : —Ross Goldfields,, 13s 9d ; Waihi Grand Junction, £1 5s 4 2 d (two parcels); Talisman Consolidated, £2 Is 9d. October 31. —Ross Goldfields, 12s 10d 2 , lls 9d. 11s Bid; Waihi, £2 15s 7£d, £2 13s 6d; Waihi Grand Junction, £1 5s 6d; Union Steam (nref.), 19s 6d; Milburn Lime, £1 10s. , , ... Nov. I.—Rcss Goldfields, lls 6d; Waihi, £2 14e 6d; Waihi Grand Junction, £1 5s 6d. Sales reported : —Ross Goldfields, lls 10a, lls sd; Waihi, £2 14s 6d; New Zealand Drug, £2 5s 3d. AUCKLAND STOCK EXCHANGE. AUCKLAND, November 3. The following sales were made on the Auckland Stock Exchange to-day :—Auckland Gas, £1 7s 6d; Waihi, £2 15s, £2 15s 6d, £2 16s, £2 16s 3d (two parcels), £2 16s fid; Talisman Consolidated, £2 13s; Waihi Grand Junction, £1 5s 9d; Rcss Go.dfields, 12s, 12s Id, 12s 3d, 12s 5d (two parcels), 12s fid (two parcels); Rising Sun, 2£d. WELLINGTON STOCK EXCHANGE. WELLINGTON, November 5. Tho following suleu v/cre made on the Wellington Stock Exchange to-day: T a'isman Consolidated, £2 2s 3d (two parcels) £2 2s fid. Sales reported were: Waihi Grand Junction, £1 5s 9d, ,£1 &s. GOLD AND SILVER EXPORT. WELLINGTON, November 3. Gold exuorts from New Zealand during October ‘totalled 25,7230 z, valued at £96,913; compared with 20,32207., valued at £80,125 in O'ctobcr, 1912. Silver exports were 68,9550 z. valued at £8049; against 31,3150 z, valued at £3673 in October, 1912.

1913. 1912. 1911. 1910. Oz. Oz Oz. Oz. 1 24 2 17 — — — — 5 / 114 4 99 3 131 7 197 5 121 11 361 8 266 21 700 8 167 13 354 14 351 23 621 7 143 12 264 16 470 24 615 8 141 14 338 17 473 22 589 7 123 11 285 20 515 19 589 8 134 11 262 15 564 20 513 5 117 10 250 20 676 21 625 6 103 10 219 20 568 20 554 10 203 11 293 20 645 19 422 10 191 13 340 20 604 21 549 7 162 14 433 19 602 16 455 6 146 14 402 18 434 22 671 4 77 14 402 17 497 20 574 7 191 16 442 18 429 24 687 11 233 11 248 14 394 23 656 8 230 16 404 17 387 23 713 8 168 16 406 18 452 21 663 10 194 16 528 17 398 23 479 10 259 15 604 21 558 22 461 5 116 17 509 20 555 23 646 12 297 16 573 19 459 23 791 9 245 16 581 20 506 22 630 6 174 15 569 20 445 21 671 8 193 16 524 22 449 25 716 6 106 14 404 19 542 19 496 10 198 14 353 22 584 17 429 8 168 11 211 23 705 19 567 6 '187 13 437 20 730 16 602 8 250 10 298 20 615 18 596 5 170 13 447 20 683 18 629 7 144 17 574 22 762 22 823 6 136 16 547 24 745 25 876 7 128 16 569 19 492 25 786 6 138 16 522 20 461 22 643 8 150 15 429 19 426 22 549 9 200 14 447 18 739 24 697 5 99 14 393 16 382 18 505 7 133 9 245 17 514 18 513 7 115 10 239 21 491 20 563 6 154 7 191 17 478 22 613 8 164 9 236 18 432 19 491 4 113 8 231 17 520 18 457 6999 16,480 21,932 25,327 The West Coast. 1 9 — 2 47 2 49 4 193 2 40 1 24 2 45 5 185 4 157 5 157 4 167 4 124 3 58 2 278 4 152 5 143 5 133 3 273 3 75 7 210 5 131 3 115 3 154 6 175 3 59 2 104 5 214 6 183 5 98 3 325 4 138 5 142 5 119 3 298 3 149 7 212 5 135 3 105 ? m 6 250 6 135 2 107 3 135 3 99 3 48 2 93 2 90 5 184 3 65 3 230 4 137 4 125 4 99 3 251 4 156 6 193 6 84 2 95 4 151 5 147 5 126 2 57 3 96 5 144 5 no 2 39 . 3 96 5 144 5 no 2 144 4 182 3 126 5 91 2 37 2 98 4 169 6 122 3 147 4 124 5 157 5 104 2 136 4 104 4 173 3 70 2 34 5 208 4 142 4 96 1 25 5 162 4 124 3 93 1 39 5 203 4 198 4 95 1 27 5 158 4 149 4 80 1 28 4 150 4 157 5 121 1 31 4 135 4 156 4 111 1 36 4 110 4 128 4 114 1 41 5 179 5 249 4 114 1 44 2 41 5 195 5 148 1 33 3 164 5 269 3 87 2 63 4 199 4 154 3 77 1 38 3 83 4 218 5 163 1 44 4 2id 4 161 6 2u0 1 34 4 208 3 182 4 140 1 30 2 46 212 5 142 3 150 2 86 4 196 4 118 1 38 3 112 4 180 6 179 3 282 2 111 5 207 5 120 3 289 3 132 5 251 5 137 3 315 3 161 5 184 4 ' 95 2 54 4 145 5 224 4 130 4604 5988 7253 4685

Rise and Shine No. 1, CromOz. dwt. gr. well, 131 his 40 3 0 Willow bank, Gore, week 29 3 0 Karaunui, Alexandra, 5 days ... 24 1 0 Rising Sun, Cromwell, 128 hrs Mauunerikia, Alexandra, 5 dys Electric No. 1, Cromwell, 128 23 6 0 23 0 0 hrs Rise and Shine No 2, Crom16 19 0 well, 125 hrs 15 0 0 Olrig, Manuhcrikia, week 8 2 0 Waikaia, Waikaia, 130 hre ... 7 1 0 Total 186 The West Coast. 15 0 Success, 119 hrs 37 15 0