MINING.

Otago Witness, Issue 3276, 27 December 1916, Page 22

MINING.

WEEK'S MINING NEWS

December 20. The secretary of the Olrig Dredging Company reports the following returns: —7oz from the box, Boz from blowings. Tho manager of the Rising (Sun mine, Owharoa, reports that stoping has been continued on No. 1 reef over the low level. In No. 2 block tho reef has made an averago width of 3ft, and the oro broken is of good grade. The width of the reef in No. o block is about 2£i't, and is also of good grade. In No. 4 block this reef averages about lift wide, and continues to produce high grade. ore. The south drive on this reef has been advanced from 62ft to 69ft, on the footwall branch, the reef having split at point 58ft. The width of this branch is about Ift, and of fair grade. December 20. The following is a copy of a cablegram sent at the end of last week to the London office of the Waihi Gold Mining Company by the mine superintendent: "No. 12 level: Tho west crosscut has boon extended to 538 ft west of No. 4 shaft, north-west crosscut. The depth of No. 2 shaft is now 1472 ft from the surface." The secretary of the Nokomai Hydraulic Sluicing Company reports that a wash-up was made at No. 2 claim, the result being78oz Bdwt. A start was mado to strip the top material of the next paddock on Thursday No. 3 claim also had a wash-up, the return being 370 z I2dwt for eight days' sluicing. All the plant has been removed out of the paddock, and tho sluice boxes were taken down for the sinking paddock. December 21. The Rise and Shine No. 1 dredge got only poor prospects on a white -lay bottom last week. The cut was 20Oft wide, and the ground averaged 45ft in depth. The No. 2 dredge made 12ft on a cut of 200 ft. There was tight wash from 4ft to sft deep, carrying fair prospects in the centre of the cut, and there were a good many laige stones in the ground. The manager of the Whangarei Cinnabar mine reports that he is still driving east with good cinnabar showing at all points. The lode is about 2ft 6in wide. The sampling of the mine at various points in its workings has been completed. The master of the Electric No. 1 dredge reports that during last week he worked 143 hours for a distance ahead of 33ft. Part of the bottom consists of coal and part quart/, gravel, while a portion a- it contained large boulders. A rise in the river has caused the drift to flow strongly again. The prospects have continued moderate, and on Saturday were poor. The amount of gold won was 21oz 18dwt, consisting of a mixed sample. December 22. At tho Warden's Court. Paeroa. on Tuesday, an application by W. M. Walinutt, of Waihi. for a special quartz claim, to be known as the Orient, and an application by Samuel Adams, of Wanganui, similar claim, to be known as Master Key, were both granted. The combined areas total 200 acres" and adjoin the Rising Sun property at Owharoa. A syndicate has been formed at Wanganui for the purpose of thoroughly prospecting this area, and active operations will be commenced early next year, when a shaft will be sunk and crosscuts put in. December 23. The secretary of tho "Ladysmith Company reports a return of 48oz 7dwt for four weeks' sluicing. December 26. The manage,- of the Golden Belt mine, Nevesviile. reports that the footwall crosscut at No 1 level is now in 55ft. The south rise is up 25ft. The reef here is very hard, but the quartz crushed was of fair grade. KEEP-IT-DARK MINE. GREYMOUTH, December 18. The option of Wilson and others over tho Keep-it-Dark mine, Rcefton, was exercised on Saturday. The mine manager was instructed to "sink the shaft another lift and go ahead with development work. The capitalisation of tho new company is £50,000. DREDGING RETURNS. The following returns are reported for last week: —

DUNEDIN STOCK EXCHANGE. The final sitting for tho year of the Dunedin Stock Exchange was held on Friday morning, and share quotations showed that tho year ended with confidence in tho money markct well maintained. During tho week there has been comparatively little business passing, and prices have shown few fluctuations. Tho sales effected on 'Change during tho week woro in Union .Stearns at £2 2s, and in Dominion Rubbers, three parcels of which changed hands at £1 17s. On Friday morning Mr Harman Reeves presided, in tho absence of Mr E. R. Smith (chairman). Ho staled that, taking everything into consideration, and especially the circumstances connected with tho greatest war in history, tho amount of business that had been done during tho year was well up to tho average. Although speculation in mining had been quieter than usual, the volume of business transacted in investment shares had been as largo, if not larger, than in previous years. It was very gratifying to know that the finances of the dominion were sound, and that for tho last two years thoro had been a surplus of exports over imports, exoeeding the sum of £21,000,000 It was also gratifying to know that the dominion war loan which had been offered to tho publio had been fully subscribed. Touching upon tho war, tho speaker said that, whilst the news following upon tho entry of Rumania had not been as good as was expected, it was apparent that tho Allies were in the ascendency. In conclusion, Mr Reeves said he thought that members could with confidence look forward to business being equally as good as it had been during the year just ended. No business was effected or reported on 'Change on Saturday, the last day of 1916 on which it was open for business. Tho following were Saturday's quotations, subject to tho usual brokerage: Dhepging Stocks. Electric —Buyers 3s. Rise and Shine—Sellers £1 4s. Rising Sun—Sellers £1 2s Mining Stocks. Talisman Consolidated —Sellers 10s Waihi—Buyers £1 15s, sellers £1 16s. Waihi Grand Junction —Buyers 155,, sellers 16s. Dec. 19.—Union Steam, £2 2s; Dominion Rubber, £1 17s (three parcels).,

Oz. dwt. gr. Rising 1 Sun, Cromwell, 135hra 66 11 0 Rise and Shine No. 2, Cromwell, 91hra 52 9 0 Rise and Shine No. 1, Cromwell, 157hrs .~ 13 4 0 Olriij, Alexandra, week 12 5 0 Total ... ... «. ...» »•• ,~134 9 0