MINING NEWS.

New Zealand Graphic, Volume XXI, Issue XVI, 15 October 1898, Page 496

MINING NEWS.

SHAREMARKET. Although the gold returns for the past week do not tot up to a large amount, still some of the yields are of an interesting nature. The East Hauraki Company obtained at the rale of over £2(» per ton, the Nonpareil mine returned over £4l from one ton secured by a tributer and £ 700 worth of gold was got by tributers in the Kapanga mine. The Tokatea Consols Company also had about 4010 of picked stone treated for a return of gold worth nearly £B3. Of course these are all small parcels, but still they serve to further illustrate the richness of the fields. Perhaps the most important return of all was, however, that obtained from the Alburnia mine, because it was a trial crushing taken from the reef recently cut at the low level, and proved that it could be worked so as to leave a small margin of profit. A few pieces of stone were shown this week at the meeting of shareholders in the Welcome Find Company. This stone showed rich dal.s of gold, ami had it been got when the market was more active shares would have advanced in price. Quite a new reef system has been discovered in this mine near the Bunker’s Hill end, so it is possible shareholders may yet get a rich find in this Coromandel mine. On the Exchange Alburnia shares advanced in price during the week. 2/ being freely offered. Talismans had steady inquiry at about 9/ to 9/6, and Alpha advanced a little in price. Some attention was paid to cheaper lines smdi as May Queen Extendeds. Victorias. Nonpareils, Waihi Souths and Extendeds, also for Coromandel Freeholds, and Four in Hands, but sales were not numerous, as the prices offered were not up to buyers* ideas of values. WEEK’S GOLD RETURNS.

KAISER. A crushing of eight loads of quartz on behalf of this company commenced at the Moanataiari battery to-day. NONPAREIL. A GOOD RETURN. Messrs Duncan and Farley, tribnters in the Nonpareil, obtained 17oz 14dwt of gold valued at £47 9s 6<l from one load of quartz. EAST HAURAKI. A crushing- of 4 tons and 60 pounds picked stone returned 30 ounces of retorted gold, estimated to be worth £B5. NEW FOUR IN DAM). The Coromandel County Council have granted the company’ a subsidy of £ 70 towards formation of the new road to the Four in Hand battery’ site. THAMES HAURAKI. A preliminary* trial of the new machinery took place on Saturday when everything worked exceedingly smoothly. Pumping is expected to start towards the end of next month. WAIOTAHI G. M. COMPANY. THE MONTH’S RETURN. Mr G. S. Kissling, secretary of the Waiotahi G.M. Co., received a telegram on the sthgiving the month’s return. The yield is 161 oz of retorted gold, valued at about £440. This is an improvement on last month’s return. MAHARA ROYAL RETURN. The complete return from the Mahara Royal Company shows that 325 tons of ore were treated for a yield of 170 ounces 15dwts of melted gold, valued at £3 1/S per ounce, of total value of £526 9/6. GRACE DARLING. The local representatives of the Syndicate holding the option over the Grace Darling and Portsea mines at Waitekauri have paid another monthly instalment of £lOO. This makes £1,300 already paid by the Syndicate in connection with this option. MONO WAI. It is proposed to conduct a series of experiments at the mine in order to ascertain the best method of treating the Monowai ore. An engine lias been purchased to work the battery when there is not sufficient water to supply motive power. NEW ALBURNIA. A trial parcel of 12 tons of ore taken from the reef recently cut in the New Alburnia mine has been treated for a return of soz lldwts sgrs of gold, value £2 12s lldperoz. The ore is evidently a payable one and adds considerably to the value of this mine. KAPANGA TRIBUTERS. Messis Horne and Johnson, who are working a tribute in the upper levels of the Kapanga mine at Coromandel, have had crushed the picked stone obtained, the result being the very satisfactory yield of £7OO. The general dirt, is now being put through the mill. TOKATEA CONSOLS. This Coromandel Company recently treated 401bs of picked stone from the main reef at the intermediate level for a yield of llozs 14dwts gold or £32 18/ worth of bullion for five weeks’ work. There are two tons of general crushing dirt on hand to crush next month. HAURAKI NO. 2. At an extraordinary meeting of shareholders in the Hauraki No. 2 G.M. Company held at Mr H. Gilfiilan’s office, Mr Arthur Wright, who presided, explained that it would be necessary to make a call of one penny. The directors proposed to put on men to work on a drive in the surface, where good prospects had been obtained. It was agreed that it be an instruction to the directors to make a call of one penny. OMARU CLAIM. When Professor Black and Mr P. C. Dennison were in Auckland some months ago illustrating the treatment of refractory ore by the permanganate process, amongst

other mines visited was the Monowai at Waiomo. As an outcome of the visit Mr Dennison pegged out 100 acres on the line of the Monowai lode. This claim was named the Omaru, and an outcrop of ore having l>een discovered a drive was started to cut it a depth. This crosscut is in 83 feet, and it is expected the lode will be cut this week. On the surface the lode assayed £4 per ton. BALFOUR. The adjourned special meeting of the shareholders in the Balfour G.M. Company was held this week in the office of Mr H. Gilflllan, legal manager. It was decided to voluntarily wind up the company, and the directors were directed to take the necessary steps to effect this. The chair min explained that the 5,000 shares in the Kapai-Vermont for the Balfour Company’ were now being placed or. the colonial register, and will be allotted shortly. A small dividend will be payable on the snares in the company when its affairs are wound up. GRAND JUNCTION. The crosscut into the Martha lode at the Waihi West end ot the above Company’s property’ has passed through 12 feet of solid quartz, and is now penetrating what is evidently a horse of mullock consisting of sandstone and veins of quartz, and beyond which probably’ lies another branch of the reef. It is therefore apparent the lode is of large size. There is no appearance so far of the hangingwall of the lode, such as was met in the No. 1 level, and Mr Evans is of opinion a few more feet of driving will bring the hangingwall branch to light. The assay value of the lode at the point intersected is poor, the quartz being rather coarse in character, but this of course may alter in a few feet of driving either way on the lode. WELCOME FIND, A special meeting of shareholders in this company was held this week in Mr H. Gilfillan’s office. Mr Ledingham presided. He said the directors had deemed it advisable to call the shareholders together to consider the position of affairs. Mr Vivian, mine manager, explained the work already done. He said in the cross-cut near the Bunker’s Hill ground they had cut several leaders, and there seemed to be a new system of reefs that had not hitherto been touched. There must be good junction lower down, but, of course, he could not say whether it -would carrygold or not. The Chairman said it was for the shareholders to say- whether they- were prepared to find more money with which to develop the ground. ’ About 19.198 shareholders had now dropped out. Mr Brett said all round that block rich gold had been got, and there was no reason why- it should not vet be

met with. Mr Glover moved and Mr Fawcus seconded ‘that the directors be recommended to consider the advisability of amalgamating with adjoining properties and call another meeting in three months’ time.’ This was agreed to.

Miss De Pretty: ’I don’t see how you whistle through your fingers that way. 1 could never do it in the world.’ Mr Goodheart (wishing to compliment her delicate little hands): ‘No, Miss De Pretty. If you should try it your whole hand would slip into your mouth.’

Companies. Tons. Pkd. stone. £ H. d. East Hauraki 4 .. CO lb. 85 () 0 Waiotabi 110 0 0 Album la (trial) 12 —— 14 10 0 Mahara-Roral 325 . 526 <♦ 6 Kapanga (ribs. — — 700 0 0 Nonpareil tribs 1 — 47 !♦ 6 Tokatca Consols. — .. 101b. 82 18 0 Total....... €1,896 •j 0