MINING NEWS.

New Zealand Graphic, Volume XX, Issue XXI, 21 May 1898, Page 639

MINING NEWS.

SHARKMARKET. THERE is little change to note this week as far as business on the Exchange was concerned, values all round being well maintained, with here and there an advance and not particular falling away anywhere. Thames stocks had the best all round demand. Transactions took place in Albumia shares at 3/6 and there was a steady demand for Monowais at 4/9, but few of these shares changed hands at that price. In cheaper lines City of Auckland, Comstock, New Whau, and Victoria shares all had enquiry at low rates, with few sales. Ohinemuri stocks were without much change. Buyers came in for Crowns, but at 16/ there were naturally no sellers . Talismans had good demand at 10/ and 10/3, but few transactions resulted. Some of the cheaper stocks had very steady demand, such as Stanleys, Waihi Souths, Extendeds, and Consols, there being free transactions in the three last mentioned. Coromandel stocks generally have been neglected, which is all the more singular, as several of the mines down there are looking well. Two of the English Companies—the Royal Oak and Hanraki Associated —look very promising. The former declared a dividend of 3d per share this week, and as the paidup value is only 4/ this is fair interest. The Hauraki Associated crushed 30 tons of ore for a yield of £759, which leaves a surplus after paying all expenses. Great Barrier properties have not had much attention lately, but during the past week enquiry set in for Barrier Reef shares at 1/9. No sales, however, took place at that price. The gold returns for the pas I* month, as compiled from mail to mail, show an increase of over £4,000 as compared with the total for the previous four weeks, notwithstanding the fact that the yield from the N.Z. Crown mine was not included this time owing to lateness in reporting. The yield from the Thames mines showed up better this time owing to the satisfactory return from the May Queen of Hauraki this month. Now that the rains have set in there should be no lack of water for driving the batteries at full power, so the returns for the next few months should show steady improvement. KAPANGA TRIBUTERS. The tributers McNiel and party, obtained stone weighing 31b loz, valued £3o_ IMPERIAL. A proposal has been made to increase the capital of this Company with a view to acquiring Excelsior property which adjoins. NONPAREIL. Ore is coming to hand of good grade. A crushing of a parcel of five loads from the Wade reef was commenced at the end of last week. BLAGROVE’S FREEHOLD. Two reefs have been intersected in the 200 foot level on this property. The first met with was 18 inches wide and carries gold. In the second reet gold is plainly visible in the stone. KAISER. The low level in this mine is being steadily pushed ahead, the reef having again widened out to sft in thickness. A parcel of ore from this mine was roasted prior to treatment, and yielded gold worth £4 15s, while an assay showed another £4 Is 6d still left in the tailings. WAIHI CONSOLIDATED. A winze is being sunk on the lode from No. 2 level to prove the reef and prepare for the intersection of the lode at No. 3 level. In this winze the lode is 3ft wide, and its average value, according to assays made last week, was 355, the bullion carrying 14dwts gold. This lode is encased in fine sandstone country. ALPHA. Important developments have taken place at No. 6 level in this mine. The reef when first cut was 2ft wide and prospected so as to prove it payable. Since then it has widened out to four feet with every promise of a further increase in size. That the ore is payable is now fully certain, and to-day news was received that colours of gold could lie seen in the stone.

WAIHI GRAND JUNCTION. A development of an interesting character, has just occurred in this Company’s drive north from the bottom of the prospecting shaft, what must be regarded as a lode formation having been cut, but rather undefined. This will probably be found to be the track of the Martha lode, and the reef met in the main shaft some lime since may be the Welcome reef. WAIHI GRAND JUNCTION COM PANY. This Company’s operations at the eastern end are still confined te driving crosscuts from the prospecting shaft north and south. The prospecting shaft was sunk to a depth of 250 ft, and crosscuts have now been put in 51ft north and 54ft south. The drive going north is in a lode-bearing channel of country, and a reef may be met, though it is not likely to be the Waihi Company’s main lode. It would have been safer, however, to have sunk some distance deeper before crosscutting, as the chances of passing over the top of the lode would have been less. At the west section sinking is being continued, and the shaft is now down 40 feet below the level which was put in from the main shaft, and which intersected the Martha lode. The present shaft came down on this lode near the point of intersection, and has been continued 40 feet below the level, having passed through the reef. After another 70 feet has been sunk, crosscutting will be commenced for the Martha lode, as also for the other reefs of the Waihi Company’s lode system. MONTH’S GOLD OUTPUT. The returns for the past month from th e various mines in the Hauraki peninsula show a gratifying increase apart from the fact that two yields appear from both the Komata Reefs and Royal Oak of Hauraki Companies. Owing to the returns from these two mines having arrived too late to be included in the tables last mail. The return from the Crown mine was not received in time to be included in the tables,' but notwithstanding that the output for the month totals £43,368 5s 3d, as against £38,904 Ils the previous month. The output from the Thames shows improvement this month owing to the good yield from the May Queen mine. The returns are as follows :— OHINEMURI.

HAURAKI ASSOCIATED. £759 FROM 30 TONS. This Coromandel mine crushed 30 tons of ore during the past month for a yield of bullion valued at £759. MAY QUEEN HAURAKI. £1,373 FOR THE MONTH. During the month 555 tons of ore from the Cardigan No. 2 load were crushed for a return of 508ozs 17dwtsof gold, valued at £1.373 IBs. ROYAL OAK RETURN. £2,300 FOR THE MONTH. During the past month the Royal Oak crushed 30 tons of ore and also treated 1,6391 b of picked ore, the result being 916 ounces of retorted bullion, approximately valued at £2,300. This is an increase ot £l,BOB upon the yield the previous month. On that occasion 20 tons of ore and 7441 b picked stone returned gold valued at £950.

ROYAL OAK OF HAURAKI. DECLARATION OF A DIVIDEND. Instructions have been received from London office to close the books of the Company for 14 days, for the preparation of lists for the payment of a dividend of 3d per share. NEW ZEALAND CROWN MINES. THE MONTH’S RETURN. For the month of April 1,667 tons of ore were treated at the New Zealand Crown Mines battery for a yield of £3,081. Last month 1,764 tons were treated, the return in bullion being £3,976. MOANATAIARI RETURN. £B4l FOR THE MONTH. The return from this Company for the past month’s crushing was not so large as the former one, a less quantity of ore having been treated. During the four weeks 1,010 tons of ore were crushed for a return of bullion worth £B4l. KOMATA REEFS RETURN. £1,390 FROM 420 TONS. The shortness of water precluded the running of this Company’s battery at full powerduring thepastmonth. However, 420 tons of ore were treated for a yield of bullion valued at £1,390. The return was 93 per cent, of the assay value of the ore, which is very satisfactory. NEW ZEALAND TALISMAN RETURN. £1,160 FROM 491 TONS. During the past month 491 tons ot ore were treated by this Company for a return of 1,6550zs of bullion valued at £1,160. The ore treated this month was more refractory owing to the large percentage of silver. In consequence of this the percentage of extraction does not represent the full assay value of the ore treated. Added to this certain of the vats charged last month are not included in this clean up as the treatment was not completed.

Company Waihi Tons. £ s. d. . 6,690 22,852 0 0 Waitekauri . 1,680 4,851 0 0 Waihi-Silverton .. 775 1,025 0 0 Woodstock.. 582 924 0 0 Komata Reefs (April) do. (May) 360 1.370 0 0 420 1.390 0 0 Wentworth 3 (trial) 42 10 9 N.Z. Talisman 491 1,160 0 0 Total £33,614 10 9 THAMES. May Queen.. Tons. £ 8 d 555 1.373 18 0 Moanataiari 1,010 841 0 0 Mahara Royal 325 557 13 9 Waiotahi 85 389 0 0 Nonpareil tributers 9 52 7 9 Tailings plant 225 0 0 Tributers 320 0 0 Kaiser 1 4 15 0 Total ..• £3,763 14 6 COROMANDEL. Pkd Tons. Stone £ s. d. Royal Oak (April) Royal Oak (May) Hauraki Associated . 20 744 30 1639 30 950 2,300 748 0 0 0 0 0 o Hauraki 130 117 1,277 0 0 Kapanga Co 65 0 0 Do. tributers 17 0 0 Do. Horne and party. Do. McNeil and party 3 40 3 250 30 0 0 0 0 Bay View 54 63 0 0 Irene 163 290 0 0 Total 5,990 0 0 Total output for month 43.368 5 3 Output last month 38.904 11 0 Increase this month 4,463 14 3