MINING NEWS.

New Zealand Graphic, Volume XIX, Issue XXI, 13 November 1897, Page 649

MINING NEWS.

SHAKEMARKET. Twere from Thames mines, ami HE only gold returns this week as only small parcels were treated, the total output was not large. The yield from the old Waiotahi mine was not as large as usual, a less quantity of ore having been treated. In the ease of the New Alburnia only low grade ore won in the course of development works was crushed, and the average per ton is therefore poor. The Nonpareil crushing, though a small one, is much more satisfactory, the ore being of better grade. Very few transactions took place this week in shares in Thames companies, but an inquiry set in for Kaisers at low rates, and parcels of shares changed hands at 3d. Kuaotunu stocks were without transactions this week, though there were steady buyers each day for Kapai-Vermonts at 2s 6d. Coromandel shares all round showed no change in values, and Great Barrier shares were entirely neglected. The principal business of the week was in shares in Upper Thames companies, and there has been more disposition to deal in low-priced stock. Frequent transactions were reported in Imperials, Tvanhoes, and Waihi Extended shares. The demand for Alphas ceased when 3s was reached. Grace Darlings did not maintain the rise of the previous week although the trial crushing demonstrated that even with the old tenstamper battery the ore could be worked to profit. The first crushing of the Komata Reefs Company has not yet been finished, but one bar of bullion has been sent in and it is stated that the return will be a payable one. At Coromandel the new ten-stamper battery erected by the Hauraki Associated Company had a trial run this week, and will be formally opened within the next few days. Good accounts continue to come to hand regarding the new find at the Kanaka Block, and there seems little room left to doubt that it is an important discovery. THE KARAKA BLOCK. OPINIONS ABOUT THE NEW FIND. The recent discovery on the Karaka Syndicate’s property at Coromandel continues to attract considerable attention from mining men. Amongst those who visited the find were Captain Argali, Mr A. P. Griffiths, Captain Hornibrooke. and Mr Battens. Some time was spent by the party going over the ground and also over the new Hauraki mine, where the same reef has been located and shows gold. All were favourably impressed with the find and consider it will be a valuable one. The show in the face looks well, gold being freely seen, and appearing to make strongly downwards. Mr Battens, the manager of the Kapanga mine, considers the new find will prove an average grade lode of good quality, which means a great deal in a large body of quartz. Gold seems to be evenly distributed throughout the stone, and should run £3 per ounce. The reef is so far exposed only at the outcrop, but the character of the country is such that it should maintain all its present qualities at a depth. The spur on which the reef outcrops at the ridge is almost vertical, and the whole can be inexpensively mined. Altogether, the discovery, as far as can be seen is one of the most important that has taken place in Coromandel of late years. HAURAKI ASSOCIATED. The ten-stamper battery erected by this English company at their Coromandel property started this week, and everything was found to work in a satisfactory manner, 'renders are now being called for the cartage of 100 tons of quartz from the mine to the mill, so that we should soon hear of regular crashings. The stone to be treated should yield a fair return. A good quantity of crushing dirt, is being won from the various leaders now being worked in this mine Parcels of picked stone are also occasionally obtained. WHANGAMATA PROPRIETARY. Tenders were called this wrek by Messrs Bewick. Moreing. and Co., mining engineers, for the erection of

buildings, machinery, and crushing plant on the Whanganiata Proprietary Company's machine site at Whangamata. Since the ‘Luck at Last' and adjacent properties were taken over by this English company, about £6OO per month has been expended on development works. That these have resulted satisfactorily may be gathered from the following circular issued by the directors to London shareholders: —"The directors are pleased to report that the managers in New Zealand, Messrs Bewick, Moreing, and Co., consider the mine sufficiently developed to authorise the ordering of crushing machinery. The follow ing is an extract from a telegram of September 20th, from Messrs Bewick. Moreing and Co.: ‘There is a chute of pay rock 260 feet long, average width five feet, from which 725 tons of an estimated value of £2 10/ per ton have been extracted from No. 1 level. Estimate 4000 tons of the value of £4 in ore chute in mine between the two levels. The lode has been traced for 2600 feet. Expect other rich chutes of ore. We are quite satisfied that it is a thoroughly good property.' The mine manager in his last report states that he is convinced the ore improves in depth, and the directors have cabled asking for a wire as soon as the reef is struck in the No. 3 level now being driven. Everything possible is being done in the shareholders’ interests to expedite matters and to avoid at the same time any useless expenditure.’ GRACE DARLING. Considerable business was done in Grace Darling shares during the past week, but when the buying orders had been tilled the advance was not maintained. The cause of the sudden demand was the fact that the syndicate holding the option over the property renovated the battery and set it to work crushing 50 tons of general ore. The actual yield has not yet been made known, but 31 ounces of melted gold was got from the plates and boxes, while the tailings assayed about 35/ per ton. These will' be treated by the cyanide process. It is. however. fully demonstrated that the ore is payable, and with a more modern plant, no doubt better results would be obtained. The latest report from the mine manager is to the effect that south of the flatsheet the reef is a splendid body of stone, six feet in thickness. Gold is showing in the stone, and magnificent prospects of free gold can be obtained by panning. TA LISM AN. Tn the north drive the lode is five feet in thickness, and all the ore won is of a payable nature. Stoping south has been continued and the reef is two feet in thickness. At No. 4 level the ore won from the south stopes is not quite so rich as it was last month, but it is expected that richer ore will soon be met with further south. In the rise north of the break the reef has continued to improve. At No. 5 level south the reef is 3ft 6in in thickness, with well-defined walls, and encased in a splendid class of sandstone country. The ore is improving in value as the drive is carried in this southward direction. The rich shoot of ore coming down from the No. 4 level is expected to be met with at an early date. In the stopes north and south of the No. 1 winze the reef is sft in thickness, ami the ore won is payable. The assays from this part vary considerably, ranging from £2 to £l5 10/9. At No. 6 level the reef presents a splendid appearanee and is a fine strong body, fully sft in thickness. The value of the reef is improving as developments are extended southwards. NONPAREIL. This Thames mine continues to give regular monthly returns. This time 45 loads of quartz from the Liverpool reef were treated for a return of 55 minces 10 dwts of gold .valued at about £152. WAIOTAIII RETT KN. £387 FROM 120 TONS. During the past month 120 tons of ore were treated for this old Thames Company, and yielded 143 ounces of gold valued at £387.