MINING NOTES.

New Zealand Graphic, Volume XV, Issue XXIII, 7 December 1895, Page 716

MINING NOTES.

THAMES. ARGOSY. Some samples of atone from this mine at Tararu wore brought to town this week which was taken from the various reefs on the property. One small piece in particular showed coarse gold froely distributed through the atone, while there were also Hikes of another class of gold overlaying it in various parts. Some larger pieces of stone several pounds in weight also showed gold. As there are six reefs already known to exist on this property, one 40ft in width, the prospects of the Company should be good when the requisite machinery has been procured. Being situated on the main ridge above Tararu, the property can be so opened up as to give 1,200 ft of backs. The other reefs are Oft, 10ft, 2ft and 4ft wide, respectively.

MONOWAI. At trio annual meeting of shareholders in this Company held this week the annual report stated that the result of the treatment of some 471) tone of ore by this process showed that the bulk of the ore from the large Monowai lode wa« of such a complex character that the results attained by the experiment were not borne out. Mr A. O. French, of Glasgow, was then authorised to make alterations and additions to adapt the

plant to his treatment, and instructed to put through 100 tons of ore before cleaning up, as it was considered advisable that the result of the new treatment should be based on a substantial test. This test was now in progress and the d-rectors believed that its conclusion would show that Mr French had justified the confidence placed in him. The Monowai reef, which was an enormous lode, extended almost the whole length of the property, and had been proved to contain, wherever cut into, large bodies of ore. The statement of accounts for the year was read, and showed that £4,500 had been expended upon development of the property. Deducting value of plant and mine, there was a debit of £2,180 19s 4d, which was represented by the mine and development. The reports were adopted, and Messrs W. Bailey and Geo. Winstone were elected directors. HAZELBANK. Accounts from this mine are more en-

couraging. The crushing just completed, though only consisting of 34 loads of quartz, still yield over an oz to the ton, the total return being 350 z sdwts. GOLDEN POINT. The work of developing the leading Tapu mine is steadily proceeding. Good progress is being made with the sinking of the main shaft and erection of engine sheds, etc The position and boiler is also permanently sot. The erection and construe-

tion of the poppet headshave been delayed, but Mr Williams hopes to have everything in working order in tho course of a few weeks. The sinking of the main engine shaft has now reached a depth of seventy feet, and the country being penetrated remains much the same in character. During the week the water trouble decreased considerably, and in consequence of this better progress has been made. In addition to sinking ■ depth of 6 feet for the

week, ten feet of the shaft was aleoeecu-ely timbered. CUMBERLAND. A cablegram was received from the London agent this week stating that the negotiations for the sale of the Cumberland special claim (situated at the Thames) were very satisfactory, and also that he hoped to report the sale immediately. MAY QUEEN. Occasional parcels of picked stone are being obtained from this mine, and the

quartz now being treated at the battery is shaping for a payable return. DEEBLE'S FREEHOLD. Some time ago Captain Argalis paid a visit of inspection to this property, which consists of 375 acres situated at Tupu. This week Mr A. D. Douglas, acting on behalf of the New Zealand Flotation Syndicate, concluded the purchase of the property and paid a substantial deposit.

PURU. The manager telegraphed on Saturday that he had broken down the reef in the Russell section, and that strong gold is showing through the general ore.

COROMANDEL.

GOLDEN SPARK. Holders of syndicate shares in the above claim this week met and formed a noliability company with a capital of £lO,OOO in 100,000 shares of 2t each, nil paid up.

The following gentlemen were elected directors :—Graves Aickin, Ralph Keesing, J. J. Dixon, H. R. Bloomfield, and M. Niccol. Mr A. E. Whitaker was appointed solicitor, Mr Robert I-aacs auditor, and Mr Albert Cuff manager of the Company. THE MANAIA DISTRICT. This mining district lies at the back of the small native settlement of Manaia,

about 14 miles south of Coromandel, on the coast road to the Thames. The area of the village is about 600 acres, and is all occupied by natives, and more or less efficiently cultivated by them. The Manaia creek or river flows through it to n little bay. It would probably be easily made navigable for vessels of light draught, so that if the mines that lie up the branches of the Manaia are found to give payable ore in sufficient quantity, there would bo available a water way for the convenience of the miners. At present everything bos to be packed from Coromandel, and

living is necessarily rendered dearer. The road up to the mines is a series of bogs after lising the first hill. The County Council is at present doing something to improve matters. About a mile back from the main road, the Manaia branches into two leading tributaries, and it is up towards the sources of these that the c'aims taken up or applied for are situate ) on several spurs. There is a blank of country that is either private property or

considered useless for goldmining purposes, lying between this area and the Tiki district on the Coromandel side. Towards the Thames, a few mi'es south as the crow flies, but considerably more as the road winds, lies the Waikiiwau district, where ground ha. been pegged out. Up the left-hand tributary of the Manaia, and the larger one, lie a number of claims, the Leading Wind, Elfin, South Nelson, etc. Up the other branch of the creek a much greater amount of work has been done within the last year and at intervale for the last fifteen years. It was the know-

ledge that some good Hold had been got in two or three places in earlier times that led to the recent re occupation of the ground. But unless the stone is very rich it will never pay for transportation to Coromandel or the Thames for crushing, and batteries will therefore require to be erected, FOUR IN HAND. The top of a reef was struck in this mine during the week, and some of the stone broken out showed gold. HARBOUR VIEW. Some good picked stone was obtained this week from the Tribute leader in the above mine. PRIDE OF TOKATEA. During tho week the following satisfactory cable wat received by Mr W. Hampson, manager of the above Company, from the agent in Liverpool for the sale ot the mine : —‘Flotation certain. We wiite you full particulars. Terms arranged lor flotation are as follows :—English Company of 50,000 shares at £1 each. Local Company receive 20,000 shares fully paid up, and £2.000 cash, and a working capital is provided, of £17,500, by the English syndicate.’ This properly is situated on the Tokatea range at Coromandel, and adjoins the Royal Oak mine, which has already been floated in London. BUNKER’S HILL. There have been one cr two flutters during the week on the Exchange in shares in the Bunker’s Hill mine. This stock is very sensitive, as the manager expects to cut Legge’s reef, which has yielded so handsomely in the Hauiaki mine. One evening shares were offered as low as 4s, and next day touched 10s, and then receded again to 7e. During the week another reef was cut, but so far gold has not been reported. EAST HAURAKI. AmongsU the companies recently registered in London is the East Hauraki with a capital of £lOO,OOO in 5s shares. The object of the Company is set down as follows : — To acquire the goldmining claim No. 17, now known as the West Tokatea, licensed holding in Coromandel; to develop and turn to account the same, and to carry on the business of a mining and smelting company in all its branches. WAIHIWAIHI GRAND JUNCTION. This Company has been duly registered in London with a capital of £150,000 in £1 shares. To adopt and carry into etlect an agreement expressed to be made between the Waihi Grand Junction Syndicate, Limited, of the one part, and this Company of the other part; to acquire, work, develop, and turn to account any freehold and other farms, mines, mining and other rights, grants, concessions, leases, claims, mineral properties, etc., in New Zealand and elsewhere. The ground taken over by this Company includes the Waihi West and and the Grand Junction mines, which are situated at opposite ends of the Waihi special mine. WAIHI CONSOLS. Shareholders in this company met this week and agreed to the following resolutions :—‘That the directors be and are hereby authorised to sell the property on such terms as they may think fit.’ WAIHI SOUTH. At a special meeting of shareholders in the above Company held this week the Chairman, Mr Hugh Campbell, reported that the Company had been duly registered in London under tho name of tho Waihi Proprietary, with a capital of £175,000 in £1 shares, with a strong working capital of £lO,OOO. Shareholders in the Waihi South Company would receive 39 paid-up shares for every 80 they held. The Chairman said there was not, be understood, the slightest doubt that the Welcome reef would be cut in the Waihi South ground, and mentioned that the claim had been pegged out with that object by Mr Hollis, who had worked in the Waihi mines. The report was adopted, and several ebareholdersexpressed themselves as highly satisfied with the economical and successful way in which the negotiations for the sale had been completed. Before tho meeting closed a vote of thanks was accorded the Chairman for the valuable service he had rendered the Company. KARANCAHAPE. TENILBA. This ground has been taken in hand along with other claims for disposal to a London syndicate. Tho sale of these properties is practically completed, and a company formed with a working capital of £IS,(MX). A telegram was read in the Wardens Court this week stating that the matter was settled, and a deposit of £590 would be placed in the bank to bind tho agreement.

SOUTH BRITISH. At an extraordinary meeting of shareholders held thia week, the Chairman, Mr C. B. Stone, explained that the South British Company consisted of 70,000 shares of which 5,000 were reserved, Mr Fleming, acting on behalf of an English Company, had submitted to the directors a proposal to purchase the property, together with the Karangahake and Mariner mines. A new company, if the negotiations succeeded, would be formed, to have a capital of 150.000 shares of £ each, and provide a working capital of not less than £25,000, each of the mines named to receive 25,000 shares fully paid up. In order to protect the Company it was also stipulated that a deposit of £5OO be paid down in favour of the Company within a fortnight after arrival of plans and papers in London. Shareholders would receive one share in the new company for every two and three lift ha now held. Resolutions were passed authorising the sale of the property. Similar resolutions were also agreed to by shareholders in the Karangahake G.M.C. TE PUKE. Professor Black, of Otago University, having visited Flemming’s freehold at To Puke, stated at a public meeting held subsequently, that as ho went he thought he was on a wild goose chase, owing to the excellent quality of the land for farming, but after passing up No. 4 road in Te Puke, the aspect of the country changed, and, from appearances he thought he was in Karangahake. Everything to warrant systematic prospecting was there —good country and plenty of reefs, abundance of water for power, and timber for mines. Instead of there being only six or eight men out there should be a hundred and fifty. Professor Black has taken several parcels of stone from Te Puke to be tested, and will forward the result. He has also taken some stone from Kaimai, which he says is of a firstclass nature. WAITEKAURI MANGAKARA UNITED. The directors of this Company have agreed to purchase the whole of the Western Waitekauri water rights from Mr J. Ralph,and also the battery,tramway and other appurtenances. The bat'ery comprises 9 head stamps in two boxes, 2 berdans, 7ft Pelton wheel, and all gear, piping, etc. complete. The mine is in seven sections, or holdings, the Mangakara, Mangakara Extended, Great Extended, Band of Hope, Golden Gate, Golden Cross, and Right Bower. Work was commenced on Monday last in the Mangakara and Great Extended sections, where some splendid etone hae been unearthed. GRACE DARLING, Negotiations for the sale of this and the adjoining properties in London have now been extended over several months without the transaction being completed. The terms under which the properties were offered are as follows :—The new company have a capital of £151,000 in £1 shares ; £4,000 cash to be paid, £20,000 provided working capital ; 66,000 shaies to go to present shareholders, and 10,000 to be reserved. Those negotiating for English purchasers offered £4,500 cash, 34,000 shares, other conditions the same, but this was declined by the directors, who having in the interim received another offer for the property, wished to withdraw it. On the 29th the following cable was, however, received from London :— ‘ Oder is under consideration on an increased price on the price offered previously, and property should not be withdrawn. The market is very dull and unsettled.’ KUAOTUNU. WAITAIA. The development of this mine is being steadily pushed forward. First rate crushing dirt has been coming to hand from tho low level at the north end, and gold is showing freely through the stone broken out. OWHAROA. This company now hold an area of several hundred acres, part leasehold, and part Crown lands, which gives the largestmining area held by nny company in this district. The mine embraces the old Owharoa workings (Smile of Fortune, Nut, etc.), Thorpe's, Bain’s, and Elliott's sections, and several special claims of 100 acres each —tho entire ground lying within that well known belt of auriferous country extending from the Golden Cross through Waitekauri and Owharoa to Te Aroha. Several rich reefs are known to traverse the ground, and have been worked successfully in the upper levels; but for further and permanent work, shafts will require to be sunk, and expensive pump’ng ami winding machinery erected, before these reefs can be profitably dealt with. Tho greater part of the properly is low lying, with numerous small creeks and

gullies running through it a short distance apart, and in every one of these creeks, and more or less all over the surface, boulders ot quartz of all sizes, and many of them very rich in gold, are scattered. During the last twenty years miners have at different times made a living by sluicing in these creeks and by gathering small boulders of quartz, and carrying them on their backs to an old process battery miles away, and getting a crushing which usually gave from 3to 10 ounces per ton. Whatever the disturbance on the earth’s surface it was a serious one that displaced and scattered such an immense quantity of stone over such a large area, and the reef that shed all this rich quartz is well worth looking for.

COLD RETURNS. MAY QUEEN. OVER £2,0C0 EOK THE MONTH. The monthly returns from the May Queen mine are a guarantee that the purchasers of this property have secured a really good investment. C eaning up for the month was completed on Monday, when 7350zs of gold were obtained from 921 loads of quartz and 100 pounds picked stone. Taken at the value obtained for last month’s gold, namely, £2 15s 91 per oz, the yield totals up to £2,048 6 s 9d. During the previous month 41 tons of ore extra were treated and the return totalled £2,230. The total output f om this mine since the 6th of March is £17,221 15s. CAMBRIA. Only 42 loads of quartz were treated this month, the yield being over an ounce to the ton, 52ozs in all being obtained.

CALLS AND DIVIDENDS. CALLS. • Waihi South . 0 0 A Dec. 6 New Whau G.M. Co. . . 0 0 2 Dec. 11 Tapu Fluke G.M. Co. . . 0 0 2 Dec. 11 Golden Hill G.M. Co. . . 0 0 2 Dec. 11 Waverley G.M. Co. . 0 0 1 Dec. 11 Woodstock North . 0 0 1 Dec. 16 Grace Darling . 0 0 3 Dec. 16 DIVIDEND. Waihi G.M. Co. .. . 0 2 0 Dec. 14