MINING NEWS.

New Zealand Graphic, Volume XXI, Issue XVII, 22 October 1898, Page 528

MINING NEWS.

SHAREMARKET. Business showed some improvement on the Exchange towards th? end of the week. For one thing, the satisfactory gold returns, totalling £ 12,943 6/6, no doubt tended towards increased confidence. The record return from the Talisman caused shares in that company to advance in price, sales being made up to 10/3, with further lines wanted at 10/. A fortnight ago 8/9 was the best price offered for Talismans. Barrier shares also advanced in price after being without enquiry for a few days, buyers commenced at 5/5, and sales subsequently were made at 5/7 and 5/8. The cause of this increase was that the developments in the mine are of a most satisfactory character, and some very rich ore was sent to town to gladden the eyes of shareholders. Owing to colours of gold being got in the 3-feet 6-inch reef in the Kuranui mine, at the Thames, shares in that company had some attention during the week. The situation of the mine points to a possibility of a continuation of th? rich patch worked in the old days by Hunt’s party, naturally renders these shares very sensitive, consequently the price nearly doubled, and there is still a steady demand. Buyers of Bunkers Hill shares also ad vanced their offers from 4d to 7Jd this week, the reason not having so far been apparent, unless it is the fact that the Hauraki North property, which adjoins, has again been acquired by an English company. Buyers came in during the week for Woodstocks at 9/, but the lowest quoted selling price was 11/. Tararu Creek shares had steady demand at 1/7, but shares did not sell at that price. Crown shares were wanted at 15/, Alphas at 2/6, and Komata Reefs at 3/6. Four in Hand shares were firmer, owing to negotiations having been completed for the purchase of an aerial tram for the mine. Horne and Johnson, tributers in the Kapanga mine, completed cleaning up this week and netted £2,124 from about 6J tons of ore. This was obtained from upper workings that had virtually been abandoned by the company in order to go in for deep-sinking. The Crown mines’ return this month is not so large as usual, but this is due to the fact that a less quantity of ore was treated.

KAPANGA COMPANY. A parcel of 16 tons of quartz treated by this Company yielded 25 ounces 4 dwt of retorted bullion of the approximate value of £75. ALPHA. Both the footwall and hangingwall reefs are increasing in size, and the ore maintains its quality. Good progress is being made with the battery. Four to five loads of material are arriving each day. HAURAKI RETURN. £1,281 FOR THE MONTH. The Hauraki Company crushed 150 tons of quartz and treated 213 lb of picked stone during the past month for a return of 434 ounces 7 dwt of gold, value £1,281 6/8. IMPERIAL. Tributers are getting colours of gold in the hangingwali portion of the No. 1 reef near the surface. About 30 tons of ore have lieen broken out, which will shortly be treated at the Woodstock battery. N.Z. CROWN MINES RETURN. £4,700 FOR THE MONTH. During the past month this Karangahake Company treated 2763 tons of ore for a return of bullion worth V 4.720. The return is not as large as that for last month, as over 100 tons less of ore were treated this time.

FOUR IN HAND. The directors of the new Four in Hand Company have purchased from Messrs Hadley and Co. an aerial tram for use at the mine. Arrangements have been made so that the tram will be ready for work by the time the battery commences operations. WAIHI - SILVERTON RETURN. £1,264 FOR THE MONTH. This company’s mill was running 26 days during the past month and treated 1,000 tons of quartz for a return of bullion valued at £ 1,264 6/7.. In order to effect necessary repairs the mine and mill have been temporarily shut down. At No. 4 level the crosscut is passing through fair sandstone country. KAPANGA TRIBUTERS. A SPLENDID YIELD. £2,124 FROM 6 1 , TONS. Messrs Horne and Johnson, the lucky tributers in the Kapanga upper levels crushed 6 tons of quartz and 499 tt> of picked stone for a return of 728 ounces 9 dwt of melted bullion, value £2,124 18/9. On Saturday the lucky pair secured another patch of rich stone estimated to be worth about 5 ozs to the lb. HAURAKI ASSOCIATED. A considerable improvement lias taken place since last report in the footwall lead at No. 2 level. The stopes are yielding a good quantity of fair grade crushing ore. Above No. 1 level the last breaking down has given excellent ore, and the country is easily worked. Improved quality of ore is now coming to hand from the Rainbow End intermediate level, nice dabs of gold being freely seen through the stone. The lead is looking better now than it has done for months past. BARRIER REEFS. About one cwt of really good specimen ore from the reef in the low level of the Barrier Reefs mine was on view this week at Mr H. Gilfillan’s office. The stone is of excellent quality, showing large patches and seams of the black mineral which carries the gold and silver. There are also patches of ruby silver showing freely and copper sulphates. The stone on exhibition is undoubtedly very rich, and was estimated to be worth from £7O to £lOO per ton. CHAMBER OF MINES. At the meeting of the Chamber of Mines held this week the various committees were appionted as under: —Goldfields: Messrs George, Gordon, Russell, Sorenson, Curtis, McGowan, McCullough, Rose, Gorrie, Hunt, and A. P. Griffiths. Legal and Finance: Messrs Kidd, Macfarlane, Morrin, Nathan, Wilson, Bloomfield, and Owen. Reports, etc.: Messrs Chambers, Davies, H. D. Griffiths, Horton, and Pond. The president and vicepresident are ex-officio members of all the above committees. HAURAKI NORTH. SALE OF THE PROPERTY. Mr J. J. Craig has sold the above property to the Hauraki Freeholds Company, who have now taken over the mine, and pumping operations will commence forthwith. During the stoppage the boiler has been re-tubed and machinery put into firstclass order. The Hauraki Freeholds will be worked under the supervision of the Thames Exploration Company, which is a strong London Corporation. The property, with systematic development, will no doubt turn out a good one, and mining people generally will be pleased to learn that vigorous mining will be carried on. KURANUI. A few pounds of stone from the reef in this mine were on view this week at the office of Mr W. Clark, New Zealand Exchange Buildings. The quartz is of a nice blue colour and the right type for making gold. Pieces show both peacock blue and ruby silver, both of which are excellent indications for gold. This reef is supposed to lie a branch of “Hunts” and is 3ft 6in wide, lhewinzeiiponitnow lieingdown 30ft. It is intended to sink to a depth of 40ft and then drive east and west upon the reef from the Isittoin. In referring to the lode the manager writing states : "It is a fine reef and it is surprising gold has not so far been seen.” The Company is now getting the 20-stamper battery put in order, so as to be ready to commence

crushing in the event of the reef making gold when driven upon. KUAOTUNU DEEP LEVELS. The important question of the testing of the deep levels is occupying the attention of most people at Kuaotunu. The operations of the Mariposa Gold Mining Company (Limited) in this direction have reached an important stage. An underground chamber, 400 feet from the surface or outcrop, has been cut out for the reception of the winding and pumping plant, which is now on the ground. The shaft for the exploration of the deep levels is being sunk from the chamber, and the machinery is in the course of erection. The Government have been asked to subsidise this work at £ for £ up to £3,000, and it is proposed to sink to a depth of 300 feet, opening out at each 100 feet level for the thorough working of thereefs in the neighbourhood of the shaft. BUNKER’S HILL GOLDMINING COMPANY. The annual general meeting of shareholders of the Bunker’s Hill Goldmining Company was held this week. Mr W. Hellaby (chairman of directors) presided. The annual report stated that although the operations for the year had not resulted in any rich discoveries being made in the mine, or gold obtained sufficient so pay expenses, still the directors were not disheartened. A large amount of developing work had been done during the year, the principal operations having been confined to the cross leader. Notwithstanding that gold to the amount of £468 18s 8d had been the result of this work the exploiting of the leader had been disappointing. A winze 25ft has been sunk with encouraging results. Confidence was expressed in the mine manager, Mr W. Moorcraft. The balance-sheet showed a bank overdraft of £459 5s id. The report and balance - sheet were adopted without discussion. Messrs Arthur Heather ami J. Endean were reelected directors. Mr W. R. Holmes was re-appointed auditor. N.Z. TALISMAN MINE. A RECORD RETURN. This Karangahake Company is steadily coming to the fore in the question of the average value of the ore treated. In January it averaged £3 5/10, which was considered highly satisfactory; but this month the average value advanced to £ 4 2/10 per ton, the result being that the yield this time is a record one, 839 tons having been treated for a return of bullion valued at £3,478 1/1. The monthly returns from this mine will be seen from the tables appended.

WEEK’S GOLD RETURNS. Companies. Tons. Pkd. stone. £ s. d. Kapanga tribs. N.Z. Crown 6 2,763 4991b. 2.124 18 9 — 4,720 0 0 Kapanga Co. 16 — 75 0 0 N.Z. Talisman 839 — 3,478 1 1 W aihi-Silverton 1,000 — 1,264 0 0 Hauraki 150 2131b. 1.281 6 8 Total £12,943 6 6

Tons £ s d January 232 761 9 6 February 393 1,079 0 0 March 400 1,291 17 9 April 451 1,344 14 10 June 692 2,018 0 0 July 687 1,922 4 10 August .. 794 1,945 2 9 September 706 2,554 0 5 October.. 836 3,478 1 1 Total to date this year 16,397 11 2