MINING NEWS.

New Zealand Graphic, Volume XX, Issue V, 29 January 1898, Page 124

MINING NEWS.

SHAREMARKET. Thames stocks had most attention on the Exchange this week, ansi several lines advances! in value. Max Queens had steady slemand. with frequent sales from 7s 2<l to 7s 4d. Moanataiari shares were also popular towards the end of the week, owing to important developments in that mine, couple*! with the fact that the new 60 stamper battery is now ready to commence crushing operations. From Ss 6d the price advanced to 9s 6d. and the market closed with no sellers under half a guinea. Large parcels of Sheridans changed hands earlier in the week, but later on sellers were not so numerous, with the result that buyers had to advance in their offers. The six-foot reef recently cut in the low level in this mine is reported to be looking very promising. For a similar reason there were steady buyers throughout the week of Puru Consolidated shares at 2s 2d. In Vpper Thames stocks Crowns had steady demand at 2Os. while buyers of Woodstocks advanced their offers to 22s 6*l. an increase of about 5s in a fortnight. Buyers of Waihi Grand Junctions advanced from 7s 6d to 10s 6d during the week, and many of the lowerprice*! Upper Thames stocks were inquired for at better rates. The market closed with a decidedly better feeling all round. As will be seen below, the gold returns this month are small, but fortunately this is explained by the fact that the Waihi. Waitekauri. and other big bullion-producers do not clean up in January. The drought also diminished the’water supply for some of the companies that depend upon creeks for motive power to drive the batteries. Rains have, however, since set in and replenished the creeks, so that next month's returns should be up to the customary average of the final quarter of last year. One feature of the crushings this month is that the average value of the ore treated by several companies showed improvement, which may be considered a promising beginning for the new vear.

GOLD RETURNS FOR THE MONTH

The output of bullion during the past month from the Hauraki goldfields, as calculate*! from mail to mail is. as usual for the first of the new year, a poor one, because some of the larger companies do not clean up till February, added to which shortness of water for motive power also reduced the returns from several companies. The fact must also be borne in mind that work was stopped in the mines during the Christmas and New Year holid&vs to enable the men to come to town, which also nevessarilly resulted in le>s *>re being mined and treated.

CHICAGO S.C

Mr W. A. Tribe, the Chairman of Directors of the Chicago which w floated in Christchurch some time paid his first visit of inspection to the mine this week, and was very favourably impressed with the nature and >tze of the reefs which have been

unearthed. Messrs Lawry Bros., wellknown prospectors, obtained a rich haul of specimens from a reef in the Chicago ground some years since, and a drive has now been put in near this spot and several reefs intersected, the stone from which is of such a nature as to warrant the immediate erection of a IG-stamp battery. The water race has been pegged out and surveyed, and the battery site fixed in a convenient spot to which quartz can l»e conveyed by wire tram from almost any part of the mine. MOANATAIARI. Shares in this Thames company had attention during the week, and advance*! in price owing to the fact that a decided improvement has taken place in the prospects of the mine. Gold has been seen in all the small veins of stone right up to the back of the reef, and it is probable this is the Cambria reef from which such rich hauls of stone were got some years ago by the company of that name. This reef is 400 feet below the surface of the hill. ROYAL OAK RETURN. £1,413 FOR THE MONTH. The returns from this Coromandel mine this month show a decrease, owing to the intervention of the holidays. Ten tons of quartz and 4401bs of picked stone were crushed for 5660zs 4dwts melted bullion, valued at £1.413 2s lOd. During the previous month 36 tons of quartz and 1.0741bs picked stone were crushed for 1.1630zs of bullion, valued at £2.900. THE WAIHI MINE. The erection by the Waihi Company of a 100-stamper mill at Waikino is now nearing completion, and it is anticipated a run will be got out of at least some of the stampers by the week after next. The work of connecting the tank shed with the battery is now under way. as is also the erection of the screens for the stamper boxes, construction of dust conveyors. This Company will not clean up for the January crushing until early next month. ROYAL STANDARD. At this mine a large staff of miners are engaged. The large hopper at No. 1 crosscut is full of ore ready for the mill, and the men are now busy with the erection of No. 2 hopper. At the mill site splendid rock has at last come in and the management are now satisfied that a good foundation can be obtained. Bricklayers are engaged building the assaying and smelting furnaces. By the time they have completed the furnaces the foundations will be ready for the concrete. Mr T. Paseoe. a manager from London. is to relieve Mr Ralph. The company have a fine tram line excavated. and the machinery should be on the site inside of two months. HAURAKI ASSOCIATED. Work in this mine was practically stopped for a fortnight at the holiday season. Very rich ore was struck in the footwall stopes, which will be the meansof making the next return equal to if not better than last month's. From the leading stope. No. 2 Block, about lOlbs of picked stone have been selected, and the lead stil looks promising. Good ore has been won from western drive with the exception of about the last ten feet when a poorer state of country was met with. There is now the apearance of a change for the better, when I hope on gold again being met with. Colours of gold are seen through the ore broken from the Rainbow end lead. This level has been advanced a distance of 25ft from the winze. About another 30ft of driving will reach under where a rich run of gold was got above the No. 1 level. The battery is working well and doing good work. Cleaning up should take place at the end of the month, when, as I have said, a better return than last may be expected. N.Z. CROWN MINES. By the last mail Mr R. R. Hunt received news that the additional 20stamp battery for thia company was nearly finished by Messrs Fraser and Chalmers, of London, and is to be shipped out by first opportunity. The foundation for these stamps is ready, and no time will be lost in getting the battery into place.

Picked Companies. Tons. Stone. £ s.d. Roval Oak 10 440 1+13 * H Great Mercury Estimated 130 0 0 Nonpareil *5 — 0 0 £1580 10

VPPER THAMES. Companies. Tons. <L N.Z. Crown Waihi-Silvertoti »sa> S53 0 0 Waihi I.3» 4.637 0 0 Woodstock ♦551 ±‘68 0 9 KomaU Reef32»> 0 0 NJL Talisman 32 7S4 9 b Total £1±982 9 6 COROMANDEL Companies. Tons Lt. £ s d Roval iMk 10 1.413 ■* 19 Hauraki 75t> 0 9 Hauraki 13> 194 L.335 ♦> 0 Great Mercury 131 9 ») Kapanga ♦tributersi Kapai-V ermoet 3> *)»* 1S> W) 0 0 9 9 £L268 J 19 THAMES. vompames. W aiocahi 133 • 0 Sheridan 4 (trial* 13 10 0 May Queen Extended 17 »s 9 9 Victoria » ft* » 9 Claremont 1541 > 40 9 0 Vfahara Royal 475 9 9 New Alburnia 3HB £3 U 0 £L«rn I 9 Total for month 41A321 13 4