MINING NOTES.

New Zealand Graphic, Volume XVII, Issue II, 11 July 1896, Page 48

MINING NOTES.

Monarch-Great Western. -The offer for the floatation of these Waikoromiko properties has been accepted. The combined area is 60 acres, which adjoins the Forrest Queen and Four-in-Hand mines. South British (Karangahake).—A credit balance of /T 24 7s 2d was shown in the balance-sheet submitted to shareholders this week.

Matawai.—There is a credit balance of ,£212 14s rod shown in the Company’s statement of accounts. Waihi Dredging.—The half-yearly balance-sheet of this Company showed Z 406 6s qd still unexpended.

Waihi Extended.—The annual statement of accounts of this Company showed a credit balance of Z‘1097 5s 2d. Bay View (Kennedy’s Bay).—Shares in this Company changed hands freely during the week and nearly doubled their price. Gold is seen freely in the various leaders already discovered. A big reef 10 feet wide also shows gold by mortar tests, so that this property should prove a good one when further developed. Tandem (Waikoromiko).- The reef is now a compact body of stone 14 inches wide. Morning Star (Kennedy’s Bay.)—The Bay View big reef has been cut cn this property, and the stone is reported to give good prospects in the dish. Invicta (Kuaotunu). —The half yearly statement of accounts of this company showed a credit balance of

Z'29i 5s 9d. Waikanae (Cabbage Bay).—There are plenty of reefs varying in size from small leaders to 10 feet lodes on this property.

Alpine Fluke (Kuaotunu). —A kindly-looking leader has been cut in the drive.

Gladys (Kuaotunu). —The reef is from 6 to 9 inches wide and worth about half an oz per ton. Waitekauri Monarch.—A large reef has been cut on this property. Its value has not yet been ascertained. Waitekauri Prince.—No. 5 reef cut this week is a finelooking body of stone. Waitaia.—The floatation of this Kuaotunu property is now practically completed. Buffalo (Coromandel). —The statement of accounts submitted at the half-yearly meeting of this Company showed a credit balance of £271 14s 7d. At the mine colours of gold are showing in the leader, the run having now been proved for a length of 50 feet. Wheal Bassett (Kuaotunu). —The reef is 15 inches wide, and is worth about one ounce of gold per ton.

Juno (Kuaotunu) —The reef in the winze still shows gold freely, although it has pinched in a little lately. Midas (Kuaotunu). —A little gold is being got in the hanging wall of the reef. Stanley (Karangahake).—The reef has improved considerably, being now a well-mineralised body of stone three feet thick.

Nestor (Coromandel). —Colours of gold are seen in a leader from four to eight inches in width. Scandinavian (Tairua). —A cable was received this week stating that the sale of this property will most likely be effected in London within the next few days. As the mine is a good one equipped with a small eightstamper battery, these shares should be cheap at the present rate, viz., is id to is 2d.

Jewel (Waitekauri). —Another fortnight should see the reef cutin this mine.

Sterling (Karangahake).—The drive is now passing through very kindly country in which there are veins of quartz which carry traces of gold. Should a reef be cut, it ought to be a payable one judging from present indications.

Hauraki No. 2. (Coromandel). —The shaft is now down 140 feet, and a pump will be required to cope with the water. It is proposed to attain a depth of 200 feet before opening out. Golden Hill Extended (Manaia). —The battery will be ready to commence operations in about a fortnight. As it is stated ore of a payable nature is awaiting treatment, these shares should be cheap at the present market rate of sixpence. At the annual meeting held this week it was stated that the credit balance was ,£231 3s and £27 additional to come to hand from calls due.

Progress-Castle-Rock.—Colours of gold were freely seen in the ore at last breaking down, and slbs of fairly good picked stone were obtained. Norena. —The expenditure on this mine during the last year was ,£253 5s 7d, and the credit balance in hand amounts to ,£496 14s 3d. Grand Junction (Waihi). —The shaft is now down 345 feet, when 450 feet has been reached a commencement will be made to open out both ways. In the west section of the property the northern crosscut is in a distance of 320 feet. A very favourable class of sandstone is being passed through. The crosscut going south is in 90 feet.

Waihi Consolidated (Waihi). —The shaft is now down 100 feet, the last 15 feet being through quartz. During the final five feet the lode made very strong, being the full width of the shaft, namely, eight feet, without any sign of either wall. Every effort is being made to get the necessary machinery erected, and as soon as hauling can be commenced no doubt the value of the reef intersected by the shaft will be proved. Morning Star (Kennedy’s Bay).—Cleavers’ reef is looking well. Another promising looking reef has also been cut.

Pukewhau.—The reef in the rise is aft thick, and gold is showing freely.

Moeha Star. —A deposit has been paid for the Moeha Star property at Cabbage Bay, by a London syndicate, who hold the option of purchase. Pride of Tokatea.—Advice was received by cable this week stating that the machinery for working the mine was being shipped.