MINING NEWS. MAY QUEEN. The Sharemarket.

Thames Advertiser, Volume XXVIII, Issue 8365, 28 February 1896, Page 3

MINING NEWS.

MAY QUEEN.

The Sharemarket.

(By Our Special Reporter,) QUEEN OF BEAUTY, The 'enlargement of the company's shaft has advanced a further stage, and by tho end of the present week tho four permanont sets of timber will havo been placed in position, VICTORIA, In the western development at tho No 1 level, a small clay seam has crossed tho face of tho levol which tho manager thicks is the Imperial fault. The underlie of this cross course quite corresponds with ihe Imperial fault, Apparently it has had no effect oue way or tho other, because the lead passed through it without being displaced in tho least, The cross lode met with in tho eastern drive I has been passed through, and driving again resumed on the main body, which shows a thiokness from 15 to 18 inches. BROKEN HILL (TAIRUA), I believo it is the intention of the owners of the above pioperty to com* uienco tho vigorous development of thoir new discovery forthwith. In conversation with the parties who broke the parcel of ore from tho vcef, and which was treated at the School of Minos for the magnificent yield of £70 worth of bullion fromlßicwtof ore, they state that the parcel was taken from the rcof where it was cut into for a width of 7 to 8 feet, and not 7GB feot as was elated in the last issue. Another error also crept into tho fame paragraph with reference to tho area of ground tho syndicato had acquired, which, instead of 30 acres, is JOO acres. It will bo seen by tho foregoinß that tho company havo a vory largo area, and judgini! by tho phenomenal richness of thoir lode tlioy possess a mostsuitablo proporty, NEW MOANATAIAIU,

Tho various developments in this mine aro being attondei with very successful results, aud more especially taafc upon tho Eeubou Parr reof at lito 100 feet level. Within the last day or so the exploratory wurks have revealed a good

hpul of spociraen ore, and at tlio timo of rpy visit to this section yesterday there was a very pood show of the suno class 1 of iro rijtyig tho hack of the leading stopc, ■ which lifts ovcry indication of continuity. Tlio lode is a very a'rohg oue, nnd is i charged with un cxco'lfut description of tumorals, whilst, that on the footwall pnr. tioti shows abundance of ruby silver and heavy mineral, with yold deeply cmbedded in it. Auothnr most importnut feature is tho rieh-lookinu niiuernl vein* comina up from the footwall country and associating themselves with tho lode. Thesj, I consider, arc tho ptincipal indirotions of tho >'old making in the reef at this point. Tho country surrounding tho quartz body is a firm class of s'nidstoue, and of such a character that as tho reef advances further rich shoots of oro should bo met with. In previous reports it will bo recollected that, refotoneo wns mado to the section of country being quite unexplored, and from the present fnce to the company's boundary a distanoo of from 800 to 91)0 four, ran be driven along tho course of tlio roof, with backs available to a height of 300 feet. Thero will bo none of tho lode broken for a timo owing to the necessity ot timbering up the level and otherwise making preparations for tho systematic development of the block.in hand and the further extension of tho level eastward upon the lode. Tho south eiploring crosscut at tho same level to intersect the Waiot'.hi roef is now manned by the contractors, and sine* commencing op* ra tions they h>vo penetrated an excellent description of country, This level will bo extended along the course of the famous cross roef until its junction with the Waiotahi reef is met with, which should be to hand in about 000 feet o 1 driving Jho custom drive on tho Golden Age reef at the Point Russell level i 9 also beinir attended with satisfactory results, and at tho last, few breakings of t'le reef, somo high urmleore was met with, which leads to the belief that as this level enters that auction of goldbearing country in the vicinity of the Pinafore, that a further enrichment of tho lodo will bo evidenced, Tho western development to intersect the Golden Age reof is steadily advancing through a tight description of countrv. 150 foot level i The north exploring crosscut has reached the back of the main fault, and although the No. 2 Eureka lode has not boon met with in a defined condition Mr Clark has deemed it ossontial to rise upon the quartz formation and tho back ot the fault, with tho objeot of ascertaining whether tho lodo will make nway from_ tho fault. Tho crossout into the hangingwall country to pick up the All Nations load is ponetrating a congenial character of rock, but thero is no sign of the lodo. Stoping operations aro in full swina upon tlio No, 4 lead, and tho success attendini; this development is of a very oncouragiug nature, as a few pounds of piched stone continue to be obtained, whilst tho general ore is of exceptionally uood quality. I attach considerable importance to this lead, lecause as far as is known the lead is quite intaot overhead, and it has a tendency to improve in quality as a greater height is attained upon it, whilst underfoot it produced a fair amount of picked stono. I am greatly interested in the dovelepraent there, as I am under tho impression that tho company have a valuablo block in hand. The extension of the connccting crosscut has passed through a strango lodo which shows a very kindly quartz, but no gold was seen, No doubt whon the lodo is opened up, which it is tho intention to do subsequently it may provo a rich acquisition to tho ootnpany's ulroady extensive acquirements. Tho works on tho Golden Calf section are without change, still a fair supply of ore continues to be won from the various faces in operation. Tho contractors for sinking the No 2 shaft ore makiug good progress, and the shaft has now reached a depth of 50ft. In conclusion I may say that the prospects of the miuo never looked hotter than they do at present. GOLPEN POINT (Tapb). The rnananomports for tho past week as follows" In the sinking of tho main engine shaft thero is no chaugo worthy of special mention with the cxcoption that tho country being penetrated sincc the chango was mot with still continues, being of a most favourable class both for good progress and the existence of goldboai'iug lodes, To mark the congenial nature of the rock we aro passing through we sunk tho shaft a furthiJr depth of 13 feet, making tho total depth so far attained from tho braoo Ml feet, It will bo rccollcetcd from a former report that I had started two men prospecting another soctiou of the mine with the main object of testing tho outcrops of our lode system, but at a considerable distanco from our prosent point of development. Tho result of Iheso works havobcen fairly succcssful, and looso prospects of gold were met with at different stages in a gully to the eastward, which points to the belief that our lodes continue in richness in this direction, but owing to the shallow character of the spurs, I think it would be a very unwise course to commence further deve'opments when we 1 will bo in a better position to direct our attention to this section by conducting this wcrk from our 200 ft level; iueon- ' sequence I havo suspended these ox-! plorations until tho shaft has rcachcd the required depth, when alcvolcauhe 1 • driven to intersect tho lodos in permanent country,"—John Williams.

MOAN ATA I All! NORTH, The manner reports During tho past wcelc sinking of the winw 011 tlic leader mentioned in my last report Las boon continued, anil I am pleased to say we have met with very encouraging prospects, having seen good coarse gold m the quartz cacu breaking down, and I have soleoted a few pounds of fair picked stone from aipnsst the genoral quartz. It is my Intontjon lo continuo sinking tho winze some distance yet, so as to bo sure when wo start operations iu the New Alburnia low level that we are on tho rinlit leader, and at the same time it will be availably to start stoping operations from. —JUcuaud Itoss." SHERIDAN. Tho manager roports 1— " Since driving operations were commenced wo extended tho main lovel from tho surveyors' mark a distatico of 12 fcot. 'Iho country is without change but I um iu hopes that au improvement will toko placo as tho lovol advances. The air pipes have not atr'md yet but when thoy do no tinio will bo lost in placing them iu position, when I am in hopes thoy will lmvo tlio desired clleot, and ouablo us to proceed with the work expeditiously,— JOHN WiiiUm' 1

NEGOTIATIONS EOE SALE FALLEN THEOTJCIH, (By Tologrti])]i—Own Correspondent.) Aut'Kf-Axn, February 27. Tho May Quoon Company Lavo just posted the followingTho directors bog to announce (hat tho negotiations for the sale of the mino in London have iallou through.

THAMES STOCK EXCHANGE. Thursday, 4 p.m. Buyers—• Crown—lias Cambria Is 3d Moanatairi (Is call paid)—Bs Victoria—3h KM Cardigan—ls i>d Selleks— New Whau-Sd Victoria —Is Kuranui - 2s 15J AUCKLAND SHAREMARKET. Auckland, February 27. The following quotatious were issuod by the Brokers' Association at 4 p.m. Sales— Monowai—ss 9d Moanatairi-8s 3d New Whau—Bd Victoria—ls Kapai-Vormont—os 9d Maori Dream—ls (id Midas—ls 4d | Chelt—2Jd Queen of "Waihi—2s lOd St. Patriok—sJd Talisman—9s 9d Waihi-Silverton—7ls Waihi Consols—ls 5d Wavcrley~ls Woodstock—2os 3d Waitekauri No 4—2s 7d Waitekauri No. 2—Bd Hauraki No. 2—lid BomsAdelaide—4d Cambria-Is 3d City of Duncdin—ls 2d Cardigan—ls 5d Golden Point—ls td Eazelbank—3s May Queen—7s S)d Moanatairi—Ba Norfolk—2s 6d New Whau—7 id Puru Consolidated—ls Id Scandinavian—Bd Sheridan—Bd Victoria—is' I Waiotahi—2ss ] Aoreie—ls Id Golden Link—3d Invicta-3d Jupiter—Bs 3d Kapai'Vorraont—Gs Gd Kuaotunu—ls Maori Droam—ls 5d Maoriland—7|d Midas—ls 3d Waitaia lis Bryon Bay-lid Crown—Wis Chelt—2Jd Day Dawn—id Grace Darling—ls fid Golden Flcece-sld Huanui—ls King of Waihi—Gd Nil Desperandum—4£d Now Kealander—3d Portsea—Gd Puriri—4d Queen of Waihi—2a 8d St. Patrick—sd Talisman—9s Od Victor—2s Waihi Bilrertoa—7ls Waihi Consols—ls fid Wavevley—lld Woodstock- 20s 1 Wealth of Nations—4d 1 Waite' auri No. 4—2s Oil Waitekauri South—7d > Young New Zealand—ls 2d Bunker's Hill—lis : Coromandel freehold Proprietary—la 3d Four-in-Haud—ls fjolden Hill Extended—ls Hauraki South—3d Hauraki Extended—3d Harbour View—iljd NewGolcnda—lsld; New Tokatca—ls 2d Pukowlmu—ld 1 Proprcs3 Castle Rook—id 3 Welcome Find—2s