MINING NEWS.

Thames Advertiser, Volume XXVIII, Issue 8614, 18 December 1896, Page 3

MINING NEWS.

(By Our Spcoial : Reporter.) ; YIOTORIA. TKiaxompany's retorted■.return of 224 ozs was reduced upon smelting, to 2190za 17d,\?|», at 56s per oz, total value £616105, 1 / GKAND TRIPLE-^ getically carried! on in • I bin company's upon ilip soutli bearing of tjio ;l reef has- been extended a total distance' of 30 The country has b;cn vry ranfh disturbed in character since commensine here, ond in conthe lode shows a broken up appeala''ce. This will improve as the drive advance's.. Another' large quartz body ha« b on ercH on th,o western eectionVofthe mine, measuring folly 'sft' in thickn s.«, onrawed of a very kindly class of or", but : so far no gold ,i hag been aipn'i The vigorous development of : this jlode is now.well underway, and the probabilities aro that a payab'e class of ore will 1 e met with as the work advances. " •.

GOLDFIELDS OF NEW ZEALAND GOLD COMPANY (LIMITED). Mr Jonathan Seaver, managing direcrf~ ior of tbiftbove romuany, has furnished tbe company his report upon the , ' various propertksTn "New Zea'and over which lw has secured opt'oos, from «hich • we extract the most important items. Mr Seayer, in his opening remark?, says that be found representatives of mining syndicates from London, Paris, Germany and Africa all in search of mining proper'ies in New Zealand, and , thfre w as,rather a rush aetiing in in thig mpsoti 1 After a great dea' of work and travelling'Mr Slayer sajs, hemana <dto seoure by a number of ptopcrties on your behalf, among which, T believe, Will be,found most of the best partly, dtvolopcd properties that have been dia covered >n the colony, up to date. _ Dbs> cribinK the ra-ioas lode systems in the , Waihi .and Waitekami dis'ri'ts, and nlso itHe\Tairaa Mr states, that his properties he on ktovm lines or a'conbinun'ion of the' * ireef Brft'raH.8 r ft'raH. The' first property .under 'review rca* the Broken Hiil m'ni at Tainia. Of this tyr Sewr suys it consists of four blocks, • baying an ,a ea altogether of 840 acres m d through its centre it liaa, pa: sing in an rmterly and wfflterly direction, ob i •immense solid lode -of fl[uarlz con idcr*, ably oyer 300 feet.wiao. This lodo is mlly a erosslode, intersecting another ' lode which has "a contrary or north-east ' bearing. • The junotion takes place in the proparty, of these two lodes and pro* bably also of two others, tho whole forming a bill rising to on altitude

d 700 feot abot;o tho river and consisting practically wholly of lode matter. The Toirua ri'er has cut throogh this reef fully 7.0 feet, deep, exposing an immense body of "tone, and provin' tho es nnd loietobp fnlly 4' 0 feot wd •. Jfr So • ver goes on to say that the whole hill • ait be considered as lodo ma 1 ter, not i-tringers or veins of quartz intersecting » body of country rook, but one . sn id mass of quartz formed by the junction of at e'ißi> threo lodes, two of which are of immo iBO size, Regarding the miluo ol this body of stono Mr Seaver says tufTicient timo has nt elapsed to_ te.4 it thoroughly ; but the probabilities are that it will be found to vary very mnoh in places, and no doubt large portions of it Wi 1 be found of too low grade to be made payable, Mr Beaver goes on to say that bo considers a great body of rich stone will be found at tho junctions of tho lodes, and that a prospecting tunnel had been put in on tho northern side of tho mine, with the rosult that oft of stone had been out into producing results from £8 to £400 per ton, This must not by any means be considered in any way as the value t f the whole body of the lodo, but only as a rich portion'or vein in it, thooxtont of which has not as yot been proved, but it shows the class of ore that the lode is capable of yielding and points to great possibilities, not pcobabilities. On tho Wnitekauri line of reef system, Mr Seaver says, ho secured a lino of pro iort ; e< in a nnrih-oa3',orly direction fiom tho Waitckauri mine. One of those is the Waitekami Extended, upon which, a large amount of development work has heen ex'cutcd. The upper level in this; mine has intersected no less a number: than 10 lodes in less than 100 ft, the largest measuring (JQfo wide. All of thesb lodes are more or less gold bearing, the laraest quartz . loiy assaying from, 30s to £6 per ton. A49-s'amp mill is in course of ereotion; A low level tunnel is beinu driven that will intersect the lodes at a depth of 500 feet below their respective outcrops, namely about 350 feet below the present tuono', Those lodes are in his estimation tho Golden Cross system that has been proved in tho Waitekauri ,Company's property to contain su<-h splondid bodies of rioh stone, and it is quite olear that this system continues to atrikenorth-easterly Fussing from here the auriferous* channel continues, through the claim known as the Takapuna, upon which ho said lie had an option then throuch the Waitekauti Consols, through a number of other properties, con. sisting in all of about 1200 acres, but of these the only one that has received development is the Volunteer, which be* longs to the company. A mass of stone here pr"duces by assay from 30s to £9 par ton, tho gold being worth about £312s ppr onnce. Mr Seavor also poin'ed out thst at Ohui options had been secured,and on the Waihi line of reef on a property known as the Waitetohe also held an option, Ho concluded: "You will see that Ml the properties I have secured on your behalf on options or otherwise, and which I am developing as I deem mo t odvisoblo under the local miperiot9ndenco of my brother, Mr Thomas Seaver, who is my partner in the firm of Seavor Bros.; are situated in tho very best possible portion; that in moat of these properties the dovolopmontij np to dato is satisfactory; and that the property known as the Broken Hills his already given indications of proving itself of immense value, It now remains for you, gentlemen, to consider as you rcceiio the reports from my finn, us iogards tho development of tho vorious lodes, what is to be done in reference to providing capital for tho working of them, I herowiib enoloso tho accounts, of the expenses and moneys oxponded by: me on your behalf, and cougratulate: i you upon the position you certainly: I occupy in comparison with othor com* pan : es that have been formod for a similar purpose."

By Telegram-Own O ohuksi'ondknt.] Auckland, December 17. PURU CONSOLIDATED. A special meeting of shareholders in the Puru Conso'idatod Company was held this afternoon. The meeting was called to consult tho shareholders in regard to a proposed a fetation in terras of the sale of the Company's property, and there v,as a cro'witd a'twdanc. ) ctta's was read from Mr A H, Gordon, general maoa jr of tl:o n.'lt-Continental Syndic ito, submit in*' new terms and,explaining the reasons for doiniso, Mr W. Gray, Chairman of Directors, who presided, said lh" no*v oflcr rame as a surprise and disnppoin'mont. Tho sha'oholders bad good lesson to exp oi the original offer made would bo o»rri-?"J through) ag when.the offer W'<s first mado thewalue - of the mine wis Lttlo known, but sinca tlrn d"ivin» operations had been pus'od on vigorously and good gold had boon met with.

•Several ahareho ders having expressed th msolves as opposed to entertaining, any proposal other tlmn that ft at mndc, Mr J. M, Lennox said ho consido>cd the flharoholders had bci>n badly treated by the Anglo-Continentul Syndicate. The second offer was ati insu t to tlii intelligence of the sha r eho!ders, as the property had bcDnJproved to be a no « work of icefs. Mr Lennox concluded by suigfs ing the fol'owlng fcsrnjß:— Capitol of £131.000 in £1 fh>-r?8, guaran» teed working capital £25,000. reserve working capital in shares £10,000, vendors to receive 46,000 shares, s to receive £'5000 in oash. tho Homo syndicate to receive 4*1,000 skatos. .Mr Rayncs thought thatHhe original terms should be adhered to (> Mr G. F. Brimblecotrjb'o pi v d that tho new proposal from tho Anglo-Con-tinental Syndicate be rejected. Mr A. Ra*nes seconded the motion, | which wus pat and carried unanimously. | The Chairman anid that shor holders had given thp directors valuable ji-lvico I at. a oriiionl time, and theshareholdeis appeared to bo onnnimous in rojpp'in* thp proposals. The suggestions of Mr Lennox wero •put in theformofa reeoramendotion to thp djreotors, iind agreed to by tho meetm' LITTLE JEOSIE. Some gold-bearing stono from the Little Jessie mine afcTapu was on view to-day at tlio establishment of Mr King, uhemist. Gold shows freely in a slato form. MAHARA-ROYAL. At a meeting tiia morning fl)e share holders passed a-resolufien authorising i the voltfntary liquidation of tho Royal i Company at Tapuj W. Olarko was

appointed liquidator This property hue been acquitod by an English Company called tho Mohara-Royal.