MINING NEWS.

New Zealand Graphic, Volume XX, Issue XV, 9 April 1898, Page 442

MINING NEWS.

SHAREMARKET. ONCE again the gobi returns for the week are all from Coromandel mines. The yield from the Hauraki is better than usual, being £1,641. while Horne and Johnson, one of the lucky tribute parties in the Kaganga mine, obtained another £630, which, with £970 noted last week, is not bad wages for a month, even after deducting the company's percentage. A small parcel of stone erushed for another tributer yielded £2O. The total output for the week was £2,291. In the Ohinemuri district the batteries are still suffering from a shortage of water for motive power, the dry season being unusually prolonged this year. At the Waihl mine another reef has been discovered which promises to return payable ore. This finding of new reefs should augur well for chances of adjoining mines, because hitherto anything in this district has been calculated on the wellknown lodes, but if new reefs are cut in the Waihi mine itself there is no reason why further discoveries should not be made in other properties in the Waihi district. Waihi shares have had steady demand during the week at £4 10/, but sellers wanted an advance of 7/6 upon that price. Waihi Grand Junction shares have also had steady enquiry at 18/3, but latterly no selling price was quoted as this stock is firmly held at present. Waihi Souths. Extended and Consols hartall been in demand at low rates and have rather an upward tendency. Latterly there have also been buyers at low rates for shares in several of the local companies in the Karangahake district, such as Imperials and Stanleys, while at Owharoa, Teutonics and Rising Suns have been asked for, but few shares changed hands at the prices offered. Coromandel and Kuaotunu stocks have been almost entirely neglected. An upward move took place during the week in Grace Darting and Portsea shares owing to the fact that it is now pretty certain .the property will be taken over by the London option holders. Buyers of Grace Darlings advanced their price from 1/9 to 2/3, but sellers declined to quote. Another stock that advanced this week was Monowais. This was due to the fact that the refractory ore from this mine was successfully treated by Professor Black with the permanganate process. The richness of some of the ore from this mine may be estimated from the fact that the piece of stone taken out by Professor Black himself, when assayed, returned at the rate of £93 10/ per ton. May Queen shares firmed a little in price in consequence of specimen stone being got from the Cardigan reef, and Alburnias were also a little better in price. Talismans had steady enquiry at 9/3, and buyers came in for Crowns at 17/6. On the whole, however, few shares changed hands during the week holders preferring to wait for better prices.

Kaiser. —The half-yearly meeting lapsedThe balance-sheet shower! receipts to have been £626 4s 8d and expenditure £536 18s lOd, leaving a credit balance of £B9ss lOd. Gohlen Shore — The first half-yearly meeting lapsed. The accounts showed a credit balance on 23rd March of £24 3s 9d. The sum of £670 2s had been paid in wages and £4OO 6s Id for mine material. Pukewhau. —The half-yearly meeting lapsed. The balance-sheet to 23rd March showed cash in bank £66 4s lOd. The sum of £B3 12s was paid in wages. Four pounds of picked stone were got this week, some of it showing good coarse gold. Bay View. —ln extending No. 3 drive antimony stone was got, and about 201 b of ore was secured showing colours of gold with fair prospects of fine gold in theruldde. Evening Star. —ln the low level drive a good deal of quartz is being met with, most of which carries a little gold. Hanraki Associated Mines. The stopes on the footwall leader No. 2 level continue to produce payable ore. The ore broken from Rainbow End Lead intermediate love) still maintains its improved value.

Golden Lead.— Scotty’s reef is fully IBin thick, and strong blotches of coarse gold can be seen through the stone. Kaiser.—A break has been cut in the drive, and on the other side the reef shows gold very freely in the solid stone. By washing the rubbly quartz a fair prospect is also got. Both the hanging and foot wall prospects fair. The reef is fully two feet wide. Waitangi.—ln the breaking down of No. 3 reef coarse colours of gold were seen. Twenty loads quartz are ready tor the battery. Nonpariel. - The Wade reef continues promising. At a breaking down this week nice colours of gold were seen. WOODSTOCK. The Company are still running 20 head stampers, anil the whole of the machinery in connection with the new wet crushing treatment is working most smoothly ami well, though it will yet be another month liefore it can be definitely pronounced upon. The mine continues to open up satisfactorily, and in the stopes over the back of No. 4 level a large supply of high grade ore is being obtained. The lode is of large size, fully nine feet wide, and the whole of it is being broken out. TALISMAN. The company are again suffering from scarcity of water. Only ten head of stamps were running to-day. The management, however, are now busy making important improvements to their dam, which it is anticipated will benefit their water supply to the extent of 5 sluice heads. CHAMBER OF MINES. At a meeting of the Council of the Auckland Chamber of Mines this week a return was submitted showing that there were 3,000 men employed in mines owned by' English companies in the Auckland district, w’hile there were only, so far as was shown byreturns, 165 men employed in locallyowned mines. The returns, however, were incomplete, and besides a number of managers having failed to send in reports there were a number of miners and prospectors working on their own account. It was decided to accept with regret the resignation of Mr H. Brett of the office of President of the Chamber. The Hon. W. McCullough was elected to the Council, and Mr McCullough and Mr R. R. Hunt were elected members of the Goldfields Com mittee. NEW WHAU. Since general work stopepd in this mine a little of a supplementary character has been done on some of the ore bodies. One known as Crawford’s leader met with in a crosscut from the winze to the Sons of Freedom level has given promising results. Samples of stone from a portion of the leader assayed at the rate of £5 18/ per ton. Assays of other ore from the same level yielded an average of from 40/ to 50/ per ton. ALPHA. The low level is in 400 teet. A small leader, a mixture of pug ami quartz, has been passed through, which carries a little fine gold. No. 5 level is now in 170 feet, and passing through nice blocky sandstone. No. 4 level is now in 382 feet. The part of the reef that went into the footwall has not yet come together with the main body. The tramway from the low level to the battery is finished. The battery works are being pushed ahead as fast as possible. MAY QUEEN. The Cardigan No. 1 lode has been driven on hillward for a distance of 200 feet at the No. 6 level. It has now commenced to yield specimen stone. WAIHI MINE. The manager of this company reports:—No. 3 shaft is down 162 ft, and the contractors have lately been sinking in a mass of quartz. First a 2ft 6in lode came in from the south-east-ern side, dipping in the usual way to the north-west. Before this had disappeared another large body made its appearance, running at an angle nearly north and south magnetic. So far this lode shows to be 7ft or Bft wide, but it. may be more. Several assays have been made, giving about sdwt of gold per ton. One sample gave as high as 15dwt.

KAFANGA TRIBUTERS. Messrs Horne and Johnson, tributers in the Kapanga mine, Coromandel, have had another very successful crushing, the ore ami picked stone treated having yielded 229nz of bullion, valued at £670. This makes about £1.645 stMined by the tributers within-a month. Messrs Andrews and Gunn are now crushing a parcel of picked stone and ore from their tribute block. Other tributers in the Kapanga, Ikedman and Blenthorn, have also got llozsCdwb, estimated at £2O. HAURAKI RETURN. The return for the past month’s operations at the Hauraki Mine, Coromandel, is more satisfactory, 230 tons of general dirt, and 2131 b of picked stone having yielded 5560 z 18dwt of bullion valued at £1,641. Last month the yield was £1,154 18s.

WEEKS GOLD OUTPUT. Companies. Tons. Picked stone. & s. d. Hauraki .. 236 213 1,641 0 0 Kapanga Trib. 630 0 0 „ „ 20 0 0 Total £2,291 0 0