MINING NEWS.

Timaru Herald, Volume XIIIC, Issue 14236, 30 June 1910, Page 5

MINING NEWS.

THE FIND IN BRITISH COLUMBIA. GREAT RUSH OF PROSPECTORS. Prejss Association-By Telegraph-Copyright Received 0.15 p.m.. June 29th. VICTORIA (8.C.), June 28. A great rush of prospectors has set in to Northern British Columbia, following the seusatioiial discovery in th© neighbourhood of Stewart City. At tiie latter point, on the Portland Canal a small city has sprung up during the last four months as a result of the opening up of a number of very rich quartz properties, and prices of town lots ran into excessive figures. The present strike, which has raised excitement to fever heat, is said to be a mammoth golf reef of free milling ore. The discovery was made by Messrs C. M. Delgrove and Louis Anderson, in one of the forks of Bitter Creek, about thirteen miles up the valley from Stewart City. The ledge was first reported to be 3000 feet wide, buv a more conservative estimate places it at 50 feet. Assays run nearly fifty dollars to the ton.

A stampede of the whole population followed the publication of the news, but thft mountain side at the scene is very precipitous, and few of them roach the ground. The whole vicinity has now been stated, and mill tests will follow. The whole of the northern coast is experiencing great mining activity, the great improvements in transportation following building at Prince Rupert, which is a hundred miles from Stewart, having formed a big incentive to prospectors.

Portland Canal .(or Channel)' is a narrow arm of the sea like Milford Sound but. much longer. Its head is about 650 miles by sea from Vancouver. Portland Canal, is' part of the boundary between Br&tisn Columbia and the United States territory of Alaska, the canal itself beins American. The latest maw we have do not indicate " Stewart." or anv other town near the channel, except Fort Simpson, on an island off the coast.

the stock: exchange. Per Press Association. DFNEDTN. June 29. Stock Exchange sales—Wn.ihi. -€8 3s frl: W.iihi Grand Junction £?~ Is (rhrPp twi-rels). -€1 IPs fid and for forward deliverv £2 2s 2d. f? 2s fid. Sales are reported of Wnihi Grand Junction at- £2 3s 9c!. £2 4s foiffht weeks' d«l-:v»r V y £2 2s 9d (eisrht •s-cpksV Old Hnurald 4s 7*d, Westport Coal £6 lis.