MINING NOTES.

New Zealand Graphic, Volume XV, Issue XXIV, 14 December 1895, Page 749

MINING NOTES.

TRANSFER OF SCRIP. The Legal and Finance Committee of the Chamber of Mines reported thia week having conferred with Mr Lennox, Chair man of the Brokers’ Association, relative to scrip being affixed to transfers. The Committee were of opinion that scrip should be issued in all cases, and that steps be taken to secure this being done. The Chairman said the matter had better be deferred, as the Brokers’ Association proposed to hold a meeting to consider the matter. THAMES. GOLDEN OPPORTUNITY. At a meeting of shareholders in this claim, it was decided this week to form a no-liability company with a capital of £6,000 divided into 60,000 shares of 2s each, nil paid up. Mr W. H. Churton was appointed legal manager ; Messrs Spencer, Von Sturmer, R. O. Young, R. Kerry, M. Niccol and J. D. Connolly, directors ; the Bank of New Zealand, bankers; Mr A. E. Whitaker, solicitor ; and Mr A. H. Taylor auditor to the company. The property is situated at Tararu, with an area of 27 acres.

NEW MOANATAIARI. ANNUAL MEETING. The annual meeting of the shareholder* in this Company was held this week in Mr F. A. White’* office, when Mr C C. McMillan presided. The report of the directors stated that the output of gold had been slightly less than that of the previous year, and the expenditure had been considerably increased by the work of developing the 150 feet level, which was now well opened up, and the mine manager was very sanguine that the outlay would be repaid, as it was new ground in a good locality. As shareholders were aware, the directors had offered the propertv in London on the following terms:—£lsl,ooo in 150,000 shares of 20s each, working capital £25.000, present shareholders to receive £s'',ooo paid up shares. This scheme had been modified, as the English people considered that, if sinking was required the capital £25.000 would not be sufficient, and they asked that an extra £50,000 be reserved for future development. The shareholders would be asked to confirm the action of the director* in this respect. Receipts : Bv gold, £5,591 Is ; from tribnters. £172 4s 7d ; by crushing*, £1,046 Ils 8d ; by sale of boilers. £110; balance (bank overdraft), £1,612 10s 9d ; total, £8 532 B*. Expenditure :By debit, October 31sr, 1894. £134 IS* 5d ; wages at mine, £4,297 9s 6d ; do. battery, £1,055 3s ; mine and battery expenses, £1,804 5s 9d ; drainage and license fees, £586 Ils lid ; purchase of foreshore, £l5O ; due sundry creditors, 31st October, 1894, £503 19s 5d ; total, £8,532 8s lid. The debit balance on the working of the mine was £1.440 3s Bd. The reports were adopted, and the retiring directors were re-elected. Ab an extraordinary general meeting of shareholders held subsequent to the annual meeting it was resolved, * That the shareholders confirm the action of the directors in disposing of the property on the terms submitted.’ RANGATIRA. The drive in this mine is passing through a capital class of sandstone interspersed with nice coppery mineral, and flinty veins crossing the course of the lode, both good indications. COROMANDEL NIL DESPERANDUM. The work of developing this mine at Tairua is steadily proceeding, and the results will be awaited with interest, as this was the first property placed on the market from that district. The reef has now widened out to 27ft, and at present there is still no sign of the foot wall. The reef carries a little gold right through of a coarse nature. The lode has also been picked up on the surface 1,000 feet to the north of the No. 3 tunnel. This ore also shows good dish prospects. WAIHI. W AIHI-SIL VE RTON. Shares in this mine have met with steady sale throughout the week at from 50s to 545. A start has been made to drive on the new reef that was discovered a fortnight ago. The manager reports :— * The lode in both faces looks well, and the fair assay value of the quartz broken out from these two drives is £9 10s per ton. The total store to grass is 441 tone. QUEEN OF WAIHI. This mine adjoins tho Silverton, and shares have firmed in price latterly. At a meeting of shareholders held this week the Chairman. Mr A. Kidd, explained that the directors had arranged to acquire the Maid of Honour ground which adjoined for 20,000 of the reserve shares. This would make the Queen of M aihi area about 200 acres. On the Chairman’s motion it was resolved that the directors be authorised to sell the property of the Company on such terms as they may deem fit. Mr Kidd explained that under the proposed terms shareholders would receive share for share in the English Company. KING OF WAIHI. Good reports are received regarding thia mine, which is amongst the properties taken up recently. While cutting away for the level some quartz which came away from the cap of the reef wna found. Very fair dish prospects were obtained from several places along the reef. Nice colours of gold were got by pounding the quartz up. The new reef is about 12 feet wide. FLOWER OF WAIHI. The outcrop of a large reef has been found on this ground. EL DORADO. The outcrop in this mine shows a width of 136 ft with the strike running north-west and south east. The country has the proper colour, and the stone appears to be

highly mineralised. It is stated that there is every appearance of this claim being an excellent one. KUAOTUNU. KAPALVERMONT G M. COMPANY. The second annual meeting of shareholders in the above Company took place on Thursday at Sydney. The report of the directors is as follows:—From the time we started crushing to the 30th of September, 1,941 tons of ore have been treated, for a return of £9,761 18s 6d—equal to £5 Os 7d per ton. Your directors have great pleasure in stating that the cost of the machinery has been defrayed oit of proceeds of the gold, and that 2s per share has been returned to the B shareholders, and that the distinction between the two classes of shares has now been removed. A reserve fund has been created, and 5 per cent of the value of the gold won has been placed in the bank to the credit of a trust account. From the present south face, measuring along the line of reef, we have nearly 1,000 feet of the reef still untouched, and the underlie of the reef will go to a depth of thousands of feet before it leaves the Kapai Vermont ground. The balancesheet showed a balance on profit and loss account on the credit side, of £1,367 6s Id up to September 30ch. Amongst the items of expenditure are : Wages, £3.401 Ils lid; stores, £3Bl 18s; fuel, £451 2s 6d ; directors’ fees, £225 ; special grant to Chairman for services rendered, £52 10s ; travelling expenses Auckland £56 7s 6d : do. Sydney, £55 17s 6d ; stationery, £sl 8s 5d ; legal management Sydney and New Zealand, £2OO 4s ; legal and travelling expenses in connection with management, £lO la lid ; sundry expenses, including audit fees, cables, reports, assay fees, etc , £167 19s 7d. In the assets the mine was placed at £17,900, and plant, less 5 per cent, depreciation, £3,746. The trust account being 5 per cent of value of gold won, was stated to he £4BB 9s 3d,and the total assets, £24,448 13s sd. MAORI DREAM. At a meeting of shareholders in the above Company, held this week a resolution was passed authorising the directors to dispose of the Company’s mine and property on such terms as they may consider expedient. The directors were also empowered to execute all deeds and documents necessary to complete any sale. GOLDEN ANCHOR. The amalgamation of the Golden Anchor, Surplus, and Jessica mines at Kuaotunu is now practically completed, and the work of developing the united property will now be proceeded with. At an extraordinary meeting of shareholders in the Golden Anchor Company held this week the chairman, Mr M. Niccol, explained that it was requisite to increase the capital of the Company in order to acquire the surplus ground for 10.000 shares, and the Jessica property for 60,000. It was agreed that the capital of the Company be increased to £15,000 by the creation of 90,000 shares at 2s each, nil paid up. Resolutions were also passed authorising the directors to acquire on the terms stated, the surplus ground and the Jessica mine. The Chairman explained that with the Jessica property they would get about £9OO cash held by that Company. NOREN A. At a meeting of holders ot syndicate shares in this mine held during the week, the chairman. Mr H. Brett, explained that the ground Boated was 50 acres, but arrangements had been made to secure 30 acres adjoining for three of the reserve I syndicate shares. It was then agreed to form a no liability company with a capital of £B,OOO in 80 000 shares at 2s each, nil paid up, 7,000 shares to be reserved for the benefit of the company Messrs H. Brett, Montgomery, J. B. Blakie and M. Montgomery were elected directors, Mr M. McGregor, solicitor, Mr Stevenson, auditor, and the Bank of New Zealand bankers to the company. WAIATAIA. Another parcel of 121 b of picked atone has been obtained f,om the low level in this mine. It was sent to town and placed on view at the office of the Company, where its richness was freely commented upon. Bands nf rich gold could be plainly seen going right through the quartz. Apparently this picked stone is as rich as the last parcel of 191 b from the same reef, which, when ireated at the bank, returned 350 z Idwt of gold worth £3 0s 2d per oz, making the totd yield from the 19lb, £lO5 8s lOd. The reef has been smaller than usual, varying from 8 to 18 inches in width. Gold showed freely in the quartz each breaking down. MIDAS. The newly discovered reef in this mine has now been cut through, and proves to be 22 feet in width. The average prospects of the drillings are from 15dwt to 1J oz The gold is very fine and only suitable for the cyanide process. The hangingwall

formation is a splendid formation. The manager expects to cut the next reef in another 25 foet of driving. KARANCAHAKE. WOODSTOCK NORTH. This mine consists of 9 acres situated at Karangahake adjoining the Woodstock and Ivanhoe properties. The drive is in very light country, which has caused the reef to pinch up. The stone is a good-looking body, with blue veins, and should be rich in silver as well as gold. Tenders are now called for driving a further distance of 50 feet, which is expected to carry the drive into a softer channel of ground, and it is to hoped it will, for rhe present is very expensive. IVANHOE. It was resolved at an extraordinary general meeting of shareholders in the above Company thia week. ' That the capital of the Company be increased to £13,000 by the creation of 75,000 new shares at 2a each. Id per share to be considered paid up in respect to 70,000 shares.' Also a further resolution was passed authorising the directors of the Company to acquire 60.000 shares in the Ivanhoe Company, the New Shotover Goldmining Company (No Liability), adjoining the property of t.h : B Company. At a meeting of shareholders in the New Shotover Goldmining Company held the same day the resolution was confirmed that authorised the sale of the Company’s property to the Ivanhoe Goldmining Company. Under the arrangement shareholders in the New Shotover Company will receive 86 shares in the Ivanhoe Goldmining Company for ever 100 shares held at the time of winding up the former Company. MARINER. A change for the better has taken place in this mine. The hard country has apparently cut out, and the drive is now passing through what appears to be a main break or slide. It is expected that the main reef will be picked up on the western side of the break. The ground in the drive at present is full of mineral, and several quartz veins are to be seen. WAITEKAURI. WAITEKAURI G.M. COMPANY. Over 200 men are now engaged at this mine getting the site ready for the new battery, constructing water races, and developing the mine. The large reef reeent y intersected at the battery level has been penetrated for 33 feet, and as yet there is no sign of the footwall, so that should there be an improvement in the quality when driving is commenced upon it, this immense body of stone ought to be a splendid contributor of bullion. In any case, this new development will be watched with interest, especially as the ore body is of such big dimensions. AI slight improvement is noticed in the quality of the ore being won from the face at Corbett's level. THE JUBILEE MINE. This mine is situated on the Alexander Gully, well known for the patchesof alluvial quartz, found there, some of which were very rich. The new Company has erected the battery at the north end of the claim in order to reduce the stone found in this gully. Tho course of this gully is undoubtedly under Leaghly's Blow, or the outcrop ot the main Waitekauri reef from which the old Waitekauri Company took out £BO,OOO. From the varieties of quartz found in the swamp, or head of the gully, it was alwaysthought that there was more thanone reef which had shed the stone and from an examination of the ground made by the mine manager he was led to believe that another body of stone, or a branch of Buller's reef ran across the head of tho gully, in addition to the discoveries already made. On making this examination the manager, Mr Christie, found this outcrop, and a man was put on to prospect it. with the result that rich gold was got. Where first cut the reef is about 18 inches wide, and an average sample when tested gave a value at the rate of £2O per ton. Tho manager decided to open out upon the reef in order to develop the discovery, and a start was made at a point 21 feet below tho outcrop, this being considered the most suitable spot. After laying down 100 feet ol flat tramway and having driven 40 feet through the country rock tho reef was cut. and was proved to bo about 2ft wide, but tho value here was only £2 3< 3d. Another 20ft was then driven upon tho reef, which is now increasing in size and value. The stone at present being obtained is worth £4 15s petton. Should tho reef keep its present course the Jubilee Company will have over 380 ft on the line of the lode, and about 100 ft of backs overhead. This reef is running into the Waitekauri No. 6 mine, which adjoins the Jubilee. The present workings in the latter mine are about 100 ft from the boundary. This new discovery is tho moat important yet made in the Jubilee ground.

A VALUABLE DISCOVERY. The Auckland Prospecting Association appears to have been fortunate in that the men sent out a month or two ago have already, it is stated, made a veiy iinj>ortant discovery. The prospectois would not disclose the loca ity further than that it is between Waitekauri and Whare Keraupunga. The stone is entirely white, without a single b’ue vein, and when crushed in the mortar gives a splendid show of gold. Seemingly, it is worth hundreds of pounds per ton. Nothing has transpired so far as to the size of the reef. Some of the stone has been sent to town for the purpose of having it assayed. PUKEPUKE. BRITISH G. AND S.M. COMPANY. At a meeting of shareholders in the British Gold and Silver Mining Company held this week it was agreed to form a noliability company. The following gentle men were elected directors ; Messrs John Chambers, C. J. Tunks, C. S. H. Mackinney, Edwin Edwards, H. J. Johnston, G. E. Aiderton, E. J. White. Mr G. (X W. Morris was appointed manager, the Bank of New Zealand bankers, and Mr W. S. Cooper auditoi. SOUTHERN MINING Mining is looking up at the Greymouth. A'i Langdons, nine miles out, 80ozs of gold was obtained from the Curtis claim. A number of very promising alluvial claims are also being worked and taken up at the I’pper Blackball, 20 miles from Greymouth, with good results. A large water supply is being taken in, in order to sluice the ground, there being an ample fall. There is 60 feet of wash dirt, all payable, a good deal of it very rich. The Consolidated Goldmining Company, Blue Spur (Dunedin), washed down on Saturday after a three months’ run and returns amounting to 426 , 'z< of gold, equal in value to £1,605, were obtained. Since 1892 the Company’s indebtedness of £lB,lOO to the Colonial Bank has been paid oil' out of the proceeds of gold obtained from the mine. WAIOTAHI. This champion gold producer of the Thames which, having been systematically worked, has paid dividends for the last quarter of a century, crushed 220 tons of quartz this month for the usual returns of over an oz per ton, the yield this time being 2430 z lOdwts of melted gold. MOANATAIARI. During the month 450 tons of ore and 35 lb of picked stone were crushed for a return of 156 oz of gold. COLD RETURNS. VICTORIA. The crushing of stone from the new reef in the Prince Imperial section has again proved satisfactory, 44oz< of gold having been obtained from 35 loads of general quartz. COLDEXPORT. The Bink of New Zealand lust week despatched for London four boxes of lowgrade bullion worth £2,515. also silver pigs to the value of £B5O.

AN AUSTRALIAN BOOM. GREAT ACTIVITY IN STOCKS. RICH DISCOVERIES. Sydney, December 7. The market all the week has been firm in mining. There has been great activity both in Broken Hill and West Australian stocks. Large sales were ejected at improved prices. Great Boulders, Coolgardie, came into prominence on the strength of recent developments, and values ranged from £6 12s to £6 14s, but afterwards cased slightly. The market value of the mine at the figure quoted tots up to the respect able sum of £1,056,000. The new tind at the Great Boulder is more important than was at Hrst supposed. The drive nt the bottom of the level has been carried 160 feet south from the main shaft at the junction ot two lodes, which were split by mullock. Further south is two feet of very rich stone. It was

dimply a macs of cold. The atone was almost hidden by a glistening coating of gold. In the crevices are seams of almost pure gold, in fine particles, while occasional lumps of stone containing two thirds of gold have been met with. The lode at this point is over twelve feet wide, and all extremely rich, but only two feet sensational stull. Heavy gold apparently runs along the wall for a long distance. The flow of people westward continues. Steamers for West Australian ports are crowded with passengers. Broken Hill Proprietary shares, which early in the week were sold at 58s, closed at 65s sd. The new alluvial goldfields at Stringy Bank, near the old Gulgong field, in New South Wales, is attracting a lot of attention. A rush has set in, and claims are being pegged off in all directions. A prospector reported that he got 103 oz of gold from 22 loads of dirt Sinking ranges, they say, from nine to 20ft. MINE MANAGERS’ REPORTS. Byron Bay. — During the past week we have extended the drive on the reef at the low level a further distance of 15 feet, making 70 feet in all. At this pointl put in a crosscut to determine the width of the reef, which I have since proved to be nine feet from wall to wall and carrying gold right through. There is also a band of stone on t'e hangingwall which yields good payable prospects. The class ot countrymet with about the reef is all that could be desired or expected. In my opinion we shall have to drive a further distance of 150 feet before we shall reach the point under No. 1 level where the best gold was obtained. lam also continuing the drive on the No 2 reel on the western side of the creek, but in this direction I have not as yet met with anything sufficiently important to report upon.

Maoriland.— During the past week we have extended the drive on No. 2 reef a further distance of 15 feet, making tho total distance from the surface 95 feet. We are now passing through a splendid class of sandstone country, interspersed with nice mineral and flinty veins, which are very good indications for gold. The reef is maintaining its usual siz -, being between 3 and 4 feet thick, showing very fair dish prospects.

Katai Vermont.-—The main south level is in 230 feet from the main rise The country is more puggy, which causes the reef to be sp it up. This is not a new occurrence for the lode, and generally causes a jump in the reef. The manager has no doubt the reef will be as large as ever before many feet have been driven. In the seventh stope the reef is 5 feet wide, all of which is crushed, gold being visible in the stone. In the third and fifth stope the reef is 3 feet thick, all ot good quality. In the 2nd and 3rd stopes over the intermediate there is fully 4ft of good crushing ore. Going north at the same level the reef is 4ft in width, all of which is sent to the mill. The ore from the rise at the north end of the flat sheet is pavable. M iiias.—The quantity of water coming in the face makes the manager think he is not far from another large reet. New Zealander. —The reef in the footwall in white, kindly looking quartz, with blue streaks through it, a good description for gold. British Empire.—ln the 54 feet crosscut there is a leader about eight inches thick. The Ellen reef should be cut in this crosscut.

Try Fluke.—ln the Venus section the lode is from nine to twelve inches thick, and prospects fairly well. The rise on the Try Fiuke reef is up 25 foot, the lode being from three to four feet thick, A portion of the footwnll gives good prospects. The ore from the stopes in the Mariposa section is quite up to its usual value. There are 130 oz of amalgam on hand from the plates. Jupiter —The eastern crosscut is passing through kindly country. The small lode is still about six inches, but the manager thinks he is on the track of some larger quartz.

Welcome Find.—ln the crosscut the ground is now more favourable for gold than it has been for some days past. The No. 2 Just- in ■ Time should be to hand unless the hard channel of rock has caused its course to deviate. In a later report the manager states : ** We have passed the point where the Just in Time No. 2 lode should have been struck by about 30 feet, that is supposing it maintains its usual strike and underlie. We passed a small leader averaging about 2 inches in width, about 35 feet behind the present face. 1 should recommend opening out on it, as it may improve hillwards ” Carnauk.—ln extending No. 2 crosscut past the reef cut two weeks ago, we have cut a reef two feet wide carring a little gold. It will take a few days more to delei mine its size and value. The No. J crosscut i« still in splendid sandstone country interlaced with iron veins. The trench on the oast side of tho range is still being pushed ahead. Two small leaders have

been cut in the trench, each carrying a little gold. Napier. —The winze is down 27ft, and a few pounds of picked stone were obtained. A start was made to drive towards the City of Auckland reef, on the leader at the bottom of the winze. Matawai.—No. 1 level has been cleared out, and a chamber is being prepared prior to commencing to sink' on the lode, wheie gold was got some time ago. Britannia.—The ground in the northern end of the shaft is a bit tighter. New Tokatea. —The reef at No. 3 level looks remarkably well, being a fine compact body of stone fully 18in thick, and shows every indication for gold at any breaking down. Southern Cross.—The manager is now opening out on the leaders running towards the Hauraki Extended. Bunker's Hill —The main tunnel has been discontinued, and the manager is opening out north and south on the leader lately cut. There is a marked improvement in the class of country northwards, although the leader is still somewhat mullocky, and tho leader should improve with it. A start has been made to sink on No. 1 leader. Very little quartz has been broken down as yet, but what has been taken out shows gold freely. About 15 tons of general dirt is being crushed. The result should be known on Monday night or Tuesday. The manager adds, “ Although in my opinion it is Legge’s leader that we are driving on, still I think it would be advisable to continue the tunnel another 25 feet. Good progress is being made with the erection of Ihe machinery.” Buffalo.—The country in the drive is lull of mineral veins, some of them two inches thick. InvictaNorth.—Thedriveat the Invicta boundary is in 180 ft and should soon cut the reef. Great United.—The drive on the No. 3 is in 90ft. Invicta. — The stall of men was reduced in the early part of last week. Some of the quartz broken from the No 3 stope showed nice little blotches ot gold. A portion of the reef in No. 4 is fair crushing dirt. Phcenix —There are three to four feet of flinty reef formation mixed with country rock in the drive near the centre of the mine. The quartz portion gives a little loose gold when washed, but not enough to be payable. Unless an improvement takes place soon, the manager thinks it would be unwise to continue this drive.

Maori Dream.—No. 1 reef is at present 1 foot wide. It is good crushing dirt and is all being saved for the mill, being equal to about an oz per ton. The reef has every appearance of opening out into a compact body of stone. The face of the crosscut is interlaced with quartz stringers. A body of stone 2 feet wide has been cut in the trench. The prospects are equal to one oz per ton.

CALLS AND DIVIDENDS. CALLS. Wai hi South . 0 0 A Dec. 6 New Whau G.M. Co. . 0 0 2 Dec. 11 Tapu Fluke G. M. Co. . 0 0 t. Dec. 11 (■olden Hill G M. Co. . 0 0 2 Dec. 11 Waverley G.M. Co. 0 0 1 Dec. 11 North Star G.M. Co. . 0 0 1 Dec. 11 Ivanhoe G.M. Co... . 0 0 1 Dec. 11 Occidental . 0 0 1 Dec. 11 Woodstock North . .. 0 0 1 Dec. 16 Grace Darling .. 0 0 3 Dec. 16 DIVIDEND. WaihiG.M. Co. .. .. 0 2 0 Dec. 14