MINING

Otago Witness, Issue 3195, 9 June 1915, Page 64

MINING

WEEK’S MINING NEWS June 2. The return from the Now- Sylvia mine, Thames, was telegraphed on Saturday as follows: —“876 tons of ore realised bullion valued at £899, and concentrates £335; total, £1254.” The secretary of the Nokomai Hydraulic Sluicing Company reports that sinking Was started on Tuesday, the 25th ult.; at No. 1 claim, and the elevator is now down to 35ft. No. 2 claim got the top material stripped to a depth of 24ft on (Saturday since the elevating was resumed. The Hamilton correspondent of the Mount Ida Chronicle states that the sluicing company at Haniiltons has taken up 60 acres at Pigbiun, and is busy shifting the plant. It is considered that prospects must be good on the new ground, as the company is going to a, good deal of additional expense in getting now plant. For the four-weekly period ended May 22, the Waihi-Paeroa Gold Extraction Company (Ltd.) treated 13,400 tons of tailings for a return of £3200. The company has now won £134,761 from the treatment of 453,600 tons of tailings.

June 3. The master of the Olrlg dredge reports a return of 12oz for last week. He adds that there were some fair-looking patches of wash showing for a day or two, but they did not list. The Rise and Shine No. 1 dredge made &ft ahead last week, working a out of 500 ft, with an average depth of 4&ft. The bottom was made up of various clays, sandstone, and a little coal. The Rise and Shine No. 2 dredge worked 12ft ahead on a cut of 210 ft, with a depth

varying from 38ft to 50ft. There was day bottom for about 30ft in the west corner; the remainder was coal, carrying very little wash. The master of electric No. 1 dredge, reporting for the past week, says that the dredge worked 132 hours for a distance moved ahead of 21ft. The prospects continued only moderate, and on Saturday were poor. The bottom was composed of sandstone, granite, and clay. The sample of gold being won is of a mixed nature. The master of the Electric No. 2 dredge reports that the dredge worked 22ft ahead for the past week. Prospects, though very fair, were not as good as they wore previously, and there was not such a heavy layer of wash on the bottom. The river had been very upsJtsiuh'f’causing heavy drift bo travel. —Trfobottom continued hard. June 4. The secretary of the Tuapeka . Mining and Prospecting Association is m rece.pt of a letter Irorn the Hon. W. Fraser, Minister of Public Works, stating that arrangements arc being made to have a geological survey of tile iuapeka district carried out, and that he hopes to have this work carried out next summer. Those interested .in mining (says the Tuapeka Times) will be glad to learn that the association has at length succeeded in getting something definite in regard to this survey, which lias been urged on the Government for some years past.

The Cromwell Argus says that the weather throughout the past week has been exceptionally mild, but with the exception of a slight rise on Monday the river remained at a fairly low level. A Nevis correspondent states that some of the dredges are still steady at work under the favourable conditions . prevailing. The sluicing claims have all closed down after a successful season. The feature of last week’s returns was that of Electric No. 2, which succeeded in topping the century, quite a rare occurrence nowadays. For some time there has been a general opinion that although the No. 1 dredge might still produce something big, the outlook for No. 2 was not bright, principally on the ground that other dredges had to some extent prospected this stretch of river in the days of the boom. But at that tirae_ all too many encountered obstacles, often in the matter of finance, which prevented many areas from being thoroughly tested. Having now made good, and being in a position to take the river on a face, Electric No. 2 may bo the fold-winner of the season. The Rise and hino No. 1 dredge maintains with marvellous consistency the run of recent big returns. No. 2 is still winning only expenses, and in addition to poor prospects last week was squaring up the face on one side.

The principal work in progress in the New Sylvia mine is the development of the main reef at the low level. The reef has been driven upon in a southerly direction from the shaft for a distance of 70ft, and a rise is now being put up at this point on the reef to connect with the Battery level 134 ft above. This rise is now up 40ft above the low level, and the lode is being broken out for the full width of the rise. The quartz is of good grade. South-west of the shaft a loading stope has been carried along over the drive for 180 ft,

and this is still producing payable ore. At a point 60ft south of tne shaft n crosscut has been driven through the reef, proving it to be about 24ft wide. The stopc is beingcarried along on the reef from this point for a width of 14ft on the hanging-wall, which is all that can be conveniently taken in one stope. The other 10ft of tne footwall will have to bo taken out afterward? in a separate stope. These workings arc. producing a good supply of payable ore, which is being treated at the battery. The cleaning-up for the past four weeks took place yesterday week, the result being that 676 tons of ore were treated for a yield ol bullion and concentrates of the value ol £1234.

June 5. A return of oOoz l2dwt of gold for 123 hours’ dredging is reported from No. 1 Electric dredge, and of 420 z 9dwt for 156 hours’ work from the No. 2 dredge. The master of the Red Jacks dredge, in reporting a return of 13oz 14dwt for 126 hours, states that the ground is getting solid.

The cleaning up of the old battery at the Waiotohi mine, Thames, was still in progress last week. Payable results wore obtained.

The eighty-eighth dividend of Is per share for the quarter was paid to shareholders in the Waihi Gold Mining Company (Ltd.) on the Ist inst. This absorbed £24,795 7s, and will bring the total dividends and bonuses paid to date to £4,730,978 13s Bd. There are 2352 colonial shareholders on the register of the company, holding 190,737 shares, and the sum of £9536 17s will be distributed to them. When the previous dividend was paid, on March 1, there were 2352 colonial shareholders, holding 189,370 shares, and they received £9468 10s. The present distribution thus shows an increase to colonial shareholders of £6B 7s. The total amount of bullion won from the mine to date is £10,883,082. June 7.

The Broken Hill Associated Smelters’ Proprietary (Ltd.) has been registered, with an authorised capital of £750,000 in shares of £1 each. The Zinc Corporation has nowjoined the company, having purchased 100,000 shares.

The gold yield of Queensland for April amounted to 22,951 fine oz, valued at £97,490, as compared with 18,587 fine oz, valued at-£78,952, for April, showing an increase of 4364 fine oz, and £18,538 in value. Dividends paid in April amounted to £2000; for the four months dividends have amounted to £67,070, as against £54,925 last year, the increase being £12,145. The gold returns to hand from the various mines in the) Auckland province for the month of May represented a total of £65,302 12s 3d. Compared with the figures for April, last mouth’s returns showed a decrease of £6064 14s Bd. This is partly accounted for by the fact that in April there were two returns from the WaihiPacroa G-olcl Extraction Company (Ltd.). In May, 1914, the yield from the mines in the province was £78,959 2s 6d: consequently, the figures for last month, in this comparison, show a shrinkage of £13,656 10s 3d. The reason for this is that in the corresponding month of last year, there were six returns from Olxinemuri, compared with four in the month just closed. In May, 1914, there were two returns from Coromandel. whereas last month there were none. The returns from Ohinemuri in May, 1914, were, with one exception, higher than the corresponding returns received last month. June 8. A return of l3oz 6dwt for a week’s work is reported from the Olrig dredge. Writing on May 21, the correspondent of the Australian Mining .’Standard says that operations at the North Lycll mine continue on very satisfactory lines, and the output for last month, over 11,000 tons, constituted a record in the history of the mine. Rich ore is showing up strongly all round. The following arc the crushing returns for May for the consolidated group of mines, Recfton; —Progress: Tons milled, 3640, valued at £4650; working expenses, £3545; capital expenditure, £1494. Blackwater: Tons milled, 4540, valued at £8631; working expenses, £4576: capital expenditure, £1320. Wealth of Nations: Tons milled, 2200, valued at £3369: working expenses, £2209 ; capital expenditure, £llls.

The total value of minerals won in Tasmania during the first quarter of this year was £244,132. made up as follows Gold, 4562.190 z, or 4456.5C20z fine, £18.930; silverload ore. 2243.25 tons, £16,473; blister cooper, 2075 tons, £159,382: tin ore, 368.045 tons, £40.358; coal, 13.036 tons, £6794; wolfram, 8.425 tons, £803: bismuth. .9 tons, £133; osmiridium. 78.6980 z, £391; iron pyrites, 1335 tons. £368. It docs not often fall to the lot of a prospector to light upon a mass of smelted gold, buf Messrs Kelly and Seers, who have been- working of late in a portion of the old South Long Tunnel property, at Wa 1 - halla (Victoria), more recentlv held by the now defunct Long Tunnel Company, had that remarkable oxnerience recently Isays the Australian Mining Standard). They wore crosscutting behind the s’te of one of the late oonvoany’s many residences, which was sold and removed only a couple of weeks ago, and, when clearing away a cellar winch came in their way. a plug of smelted gold, weighing 1290 z, fell from behind some timbers.

WEST COAST DREDGING INDUSTRY (From Our Own Correspondent.) GREYMOUTH, June 7.

The Ahaura dredge, the largest goldmining machine ever erected on the West Coast, is now nearing completion, and in about three or four weeks’ time will be ready to commence operations There are at present six gold-dredging plants at work on the West Coast, and it is quite on the cards that this number will be considerably increased in the near future. This class of mining is now being more thoroughly developed than was the case a few years back, when oven the semblance of auriferous gravels were pegged out and companies “floated” without any trouble. Development with caution, together with the introduction of more modern and powerful dredges, will have the effect of placing dredging on a sounder basis, and should augur well for the future permanence of the industry on the West Coast.

NOKOMAI SLUICING COMPANY.

The seventeenth annual meeting of the shareholders in the Nokomai Hydraulic Sluicing Company was held on Friday afternoon, Mr H. Crust (chairman of directors) presiding over a fair attendance. The seventeenth annual report of the directors of the Nokomai Hvdraulic Sluicing Company, to bo presented at the forthcoming meeting of shareholders, contains the following clauses;—The last year’s operations did not produce such good re-

suits as in previous years. The loilowing causes contributed to u ia;iing-off in the returns: Shortage ot water ml through the summer; iNo. d. plant bemg lale wime the race was being extended anti plant removed to Victoria (dully; No. 3 being able to work only three months Kir want or water, and some ot the ground operated on be.rig poorer than that worked in the 191314 pcr.od. No. 1 elevator returned 166'Joz ot gold, having been kept steadily at work throughout the year; but to do this No. 3 water had to be utilised for a considerable time. Js'o. 2 race extension and removal of plant occupied six months, leav.ng only six months’ working time, returning 500 oz. No. 3, owing to its water being required for No. 1 elevator, worked only three months, and, striking high reef with little gold in it, contributed the poor return of 218 oz. Race maintenance shows an increase, this being accounted for through a quantity of steel piping having to bo procured and used to replace decaying wood flaming in the water races, and it is proposed to similarly renew the race as the wood fluming perishes. A number of special visits wore made to the claims during the year. The company’s properties and plant arc in good working order. An extended claim of 18 acres, adjoining the company’s No. 2 claim in Victoria Gully, has boon granted. The retiring directors are Messrs A. Black and J. Peterson. The auditor (Mr R. T. Wheeler) also retires. All are e!’ r r : b!e, and offer fh-niseives for re-olrctmm

In moving the adoption of the annual report, the Chairman made a few remarks concerning the company’s operations s;nce the last annual meeting. At the annual meeting in 1914 he had been able to congratulate the shareholders on having Had a record year’s returns. The report for the past year showed that there has been a considerable falling off, and explained the causes for it. Last winter a good deal of snow fell on the high country from which the water was drawn, and it had been anticipated that there would be a good supply well through the summer, and that Nos. 1 and 3 elevators would both have a good run. The high winds that prevailed, however, melted the snow quickly, with the result that the water soon slackened to such an extent that No. 3 had to close down in January, there being little more than enough in the two races to keep No. 1 at work. No 1 lately struck a high reef carrying little gold, and its returns had been poor, the paddock now being sunk below the late workings. It was hoped that it would be deeper and show an improvement. With regard to No. 2, the extension of the race to Victoria Gully was completed, and the work of opening out there commenced in September. Elevating had gone on steadily since. The ground so far had not proved rich, but it was payable, and had justified the expenditure incurred. The cost of extending the race was £1735 16s 9d, of which the sum of £149 3s 8d was taken from the reserve deposit, thereby reducing the amount to the credit of that amount to £665 6s 4d_. As circumstances permitted the directors proposed again to build up a substantial reserve, and they trusted that eh a reholders would approve of their determination. A block of ground, 18 acres in extent, adjoining the company’s claim in Victoria Gully,° had been taken up as an extended claim, and the right to work seven acres of roadlincs adjoining - .his claim had already been obtained. No. 3 plant in the gorge was unfortunate in being able to work only for so short a period from want of water, and also in getting on to high bottom. The bottom was, however, dipping again, and 1€ chains ahead ot where they now were the ground was deep and rich, so they looked for good results from the No. 3 plant’s operations in the corning season in that vicinity. Mr L. D. Rit.ohie, in seconding the motion, said it appeared that the benefit, so far as shareholders were concerned, had been a little loss than previously, but that was no fault of the directors. It was proposed to renew the fluming with steel pipes, which was a step in the right direction.

The Chairman said that the company still had a long life ahead of it, and it was thought better to renew with something of a permanent nature, although it might be a Tittle more expensive at first. The report was adopted. Messrs A. Black and J. Peterson were reelected to the directorate, and Mr R. T. Wheeler was reappointed auditor. The directors' fees were fixed at £l5O ;jcr annum. MOUNT MORGAN MINE. . BRISBANE, June 4. For the four weeks ended May 30 the Mount Morgan concentrators produced 25i tons copper and 21550 z of gold, of the total value of £77.312. BRISBANE, June 7. An important development has occurred in the Mount Morgan mine. The extension of a drive struck ore averaging lOdwt of gold to the ton, and 2.67 per cent, of copper. DREDGING RETURNS.

DUNEDIN STOCK EXCHANGE. A fair amount of busines has been transacted on the Dunedin Stock Exchange during the week, and the prices of shares have generally been maintained. Operations connected with standard shares have shown improvement, especially towards the end of the week. Bank shares have shown a, tendency to harden. The old issue of Bank of New Zealands has been placed on the market up to £ll lis, with buyers at £ll 7s. Sellers of the new issue have been firm at about £l7 10s, buyers being quoted up to £l7 8s 6d. Union Banks have been offered at £57 and £57 2s 6d, but sellers were consistent at £57 10a. The market closed on Friday with a buyer at £57 2s 6d and no seller. National Banks have had no buyers, sellers offering to transact business at £5 10s and £5 10s 3d. Two sales were reported during the week at the former price. On Wednesday

National Insurances eased slightly, the quotations being £2 8s (buyer) and £2 9s 6d (seller). Now Zealand Insurances have had inquiry at £6 Is. and were firm on Friday at £6 3s 6d. with no sellers. Standard Insurances have been placed on the market at £l 17s 9d and £1 17s 6d. On Friday a buyer was quoted at £1 17s. Sellers of Union Steams (ordinary) have been quoted at £1 3s 9d and £1 3s 6d. with no buyers, and the preference issue has been in demand at £1 Os 3d, with no sellers. A sale of Westport Coals was effected at £1 Us 6d on Saturday, and sellers have been quoted since at £1 Us 9cl. with no buyers. The preference issue of Wostnort-Stocktons has been quoted at 9s 5d and 8s lOd. buyer and seller r-spcct.’vely. Other investment stocks have shown very little variation. Sales were renorted on Wednesday of New Zealand Portland Cements at 7s 6d. Christchurch Meat feum dividend) at £l6 12e fad. Dominion Rd ibor at 17s, and Now Zealand Paper Mills at 17s.

The Dunedin share market was very quiet on Monday. The only quot * ion in dredging stocks was a seller ot Electrics at 4s, vvitu no buyer. In m.mng stocks, Talisman Coin soliduteds were easier at £1 3s (buyer) and £1 4s (seller). Tasmanian Coppers had inquiry at £1 6s 4d, with no seners. sellers ot VVaihis wanted £1 19 s —6J leas than .Saturday’s quotat.on—but the highest buying offer was £1 18s. In standard shares, National Banks were placed on the market at £5 10s. with no buyers. Bank of Now Zoalands had buyers at £ll Ss and £l7 8s 6d, old and new issue respectively, and Union Banks at £57 2s 6d, but no sellers were quoted. New Zealand Insurances were in demand at £6 3s, with no soiling quotation. A sale of Union (Steams (ord.), at £1 5s 3d, was reported, the market closing with a buyer at £1 3s and a seller at £1 3s 6d. Other shares wene quoted at current. rates. The following arc Monday’s latest quotations, subject to trio usual brokerage: Dkexjuino Stocks Electric—(Sellers 4s. Minino Stocks. Nokomai Hydraulic—Sailers £1 Is 6d. New Sylvia—Buyers 6d. Tasmanian Copper —Buyers £1 6s 4d. Talisman Consolidated —Buyers £1 3s, sellers £1 4s. Waihi—Buyers £1 18s, sellers £1 19s. Waihi Grand Junction —Sellers £1 4e 3d. Juno 2. —Electric, 3s 3d. Sales Reported.—New Zealand Portland Cement, 7s 6d; Christchurch Meat (cum div.), £l6 12s 6d; National Bank. £5 10s; Dominion Rubber, 17s; New Zealand Paper Mills, 17s. May 5. —National Bank, £5 10s; Now Zealand Paper Mills, 17s. June 7. —Union Steam (ord.), £l 3s 3d. WELLINGTON STOCK EXCHANGE. WELLINGTON. June 7. There were no sales on the Stock Exchango to-day. Closmg quotations were as follow; —Mining stocks: Talisman—sellers 22s 9d; Waihi —buyers 38s 6d, sellers 39s 3d Waihi Grand J unction—buyers 23s 5d ; Waitangi—buyers Is 4d. Investment stocks: National Bank —buyers 108 s 9d. sellers Ills; Bank of New Zealand (old) —sellers £ll Us ; Union Bank —sellers £57 7s 6d; Wellington Trust Loan—buyers £7 11s; Wellington Gas (preference) —'buyers 20s; New Zealand Insurance—buyers £6 2s; Gear- Meat (fillbuyers £4; Wellington. Meat Export (£s) buyers £5; Wellington Meat Export (£2 12s 6ci)— buyers 52s 6d; Union Steam (preference) —sellers 20s 9d; Wellington Woollen (ordinary)—buyers 92s 6d; Westport Coal — buyers 31s 9d; Loyland O’Brien Timber — buyers 21s 9d; Golden Bay Cement—buyers 21s 6cl, sellers 22s 6d; Manning and Co. — sellers 965; New Zealand Drug Company — sellers 475; Ward and Co.—sellers 115 s.

CHRISTCHURCH SHARE MARKET. CHRISTCHURCH, June 7. The following sales were effected on the ■Stock Exchange to-day;—National Bank, £5 10s; New Zealand Portland Cement, 7s 10^d; Waihi Grand Junction, 245.

Oz. dv.t. S 1 Riso and Shine No. 1, Cromwell, 134 hours 72 13 0 r\ew Golden Run, Island 'Block, 129 houra 59 9 0 Electric No. 2, Cromwell, 156 hours. 42 9 0 Electric No. 1, Cromwell, 128 hours '30 12 0 Golden Bed, Ettrick, week ... 27 0 0 Willowbank, Waikaka Valley, 131 hours 13 13 0 Rise and Shine No. 2, Cromwell, 134 hours 16 13 0 Olrig - , Manuherikia, week 12 0 0 Total 279 9 0 The West Coast. Red Jacks, 126 hours 18 14 0